The Euro-crisis heats up

Bob Dixon

Yipee. Bring it on. Cheap summer holidays in Greece.

Nickle

If they can't save a tiny economy like Greece, then they haven't a hope in hell with Portugal, Ireland, Italy, Spain, ....

Alcuin

One hopes that there are plans behind the scenes to cope with the market crash that now seems inevitable. Unfortunately such plans must be kept secret for fear of provoking a run on certain banks. There are also still some genuine deniers, and producing a Plan B with such people involved is both difficult and dangerous - as they are likely to leak it.

There is now no refuge of last resort for the ordinary citizen - when the tsunami breaks, we shall all be on the beach, and will be shafted - some more than others. The incentives are to spend now, while money still means something.

Vulture

If you rely, David, as you appear to do, on the FT for your information on the Eurozone disaster, its no wonder you remain in denial about the future course of the debacle..

You appear to share the philosophy of Corporal Jones in Dad's Army. Telling us all not to panic while running around like a headless chicken.

(And I speak as a journalist who helped set up the FT's European edition in Frankfurt). The Pink 'Un ( and its not just the colour of the paper) has been wrong about every major Euro issue since the misbegotten currency's conceptioon - so why should it be right now?

As for Frau frumpel - she's a busted flush. The FDP are running in the current berlin elections on a 'No Eurobonds' platform and they're going to clean up, since the two major parties are (like the Tories and Labour) committed to throwing more good money after bad down the Greek wastepipe.

The truth was enunciated this morning by that wise old bird Lord Lawson on the Today programme. Viz: The Euro was a disaster waiting to happen. He predicted this way back in 1995 if not before.

It's dead. The only thing to do is quietly bury it before it starts to really stink.

Then we can get on and enjoy the Wake. Personally I'm looking forward to pouring wine over Polly Toynbee's head.

TomTom

Get real. Merkel has no hope of holding her coalition together. Roesler is getting heat from his party that will fail to get 5% in the next election, and needs to distance itself from Merkel. German MPs are flooded with Emails and post from very angry voters.

This Coalition is in meltdown because it is loathed in Germany

Ed P

I think there are some Drachmas in the back of a drawer somewhere - time to dig them out.

strapworld

Throwing good money down the drain. The vacuum of political leadership is not just astonishing but foolhardy. These so called leaders haven't the gumption to admit that Greece is a basket case, should never have been allowed into the Euro (alongwith many other countries) and in what will be a hopeless case of attempted face saving will pour of the tax raised from hardworking peoples throughout the EU.

Do not listen to Cameron and co if they tell us that we are not contributing. We are.

This is a madness. But the BBC will try to play down this massive crisis for us all.

Dennis Churchill

Alcuin
September 14th, 2011 9:47am
The background of the European political class, including our own, does not inspire confidence they understand the need to plan for alternative scenario.
Politicians by their nature tend to have fixed ideas along with an unrealistic belief both in their own abilities and their political ideology.
At least this is only about money rather than the tens of millions of dead that in the past was the result of their failures.

strapworld

Moody's has downgraded two French banks. China and the USA have warned the EU zone to get a grip.

PayDirt

Events in the financial world do seem to turn nasty come the autumn weather. And where will the world be in September 2012? After the 2008 crash, our leaders should now have some experience in dealing with these crises. They let Lehman fall and the system managed to stay afloat. A few banks to go bust, why not just let it happen. The market’s discounted a lot already. Some time later of course wheelerdealers will move in like Kuwait did in 1987 to pick up pieces of BP, just hope it doesn’t get too much out of control this time round.

Derek Pasquill

The Four Horsemen (and woman) of the Apocalypse:

Obama, Cameron, Sarkosy & Merkel.

Are we there yet and how will we know when we are? A bang or a whimper?

Heartless, Hard, Romantic Perry

GOOD!!

And let this tiresome pus-filled wen burst and carry away with it the pretentious aspirations and pernicious claptrap of the H2B and all the other ghastly people who wish to see the end of Britain.

Go!

Be Gone!

michael

Lord Lawson ... it took a good hiding from Soros to knock some sense into him.

Anne Wotana Kaye 1

EU? I thought two World Wars were fought, amongst other reasons, so that countries (especially ours) could retain their autonomy.

ellubo

I can remember interest rates at 15% for two years as Lawson tried to shadow the D Mark. He is a puffed up idiot.

Frank P

Vulture

"I'm looking forward to pouring wine over Polly Toynbee's head".

May I piss in the bottle before you do it ... please?!

Mike

The EU - all because the French are scared of the Germans, and the Germans are scared of...themselves.

Marcher Baron

I understand that French, Italian and Finnish currencies still have some value until February 2012 with Greece joining them in March of that year. Afterwards the notes become obsolete and worthless. Time for a rethink on these deadlines, surely.

Noa

Frank P

May I piss in the bottle before you do it ... please?!

Given your reports it may well be impossible to stop you! It would be wrong to as well. The woman is a living diuretic.

Jockanroll

Here's Plan C:

Look at each country in the Euro and assess if bankrupt. If not revert back to original currency i.e. Germany:Mark. Then leaving all other countries in the Euro, devalue it accordingly (By 100%). Problem fixed!