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View Poll Results: How long does the euro have left?
Monday 4 3.85%
Before/near Xmas 12 11.54%
Mid-February 34 32.69%
It'll stay intact due to an overnight hallmark 54 51.92%
Voters: 104. You may not vote on this poll

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  #261  
Old 14.06.2012, 12:02
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Re: How long does the Euro have left?

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Seems the involved nations are already discussing how they will limit ATM usage in the event of a crisis with the use of daily limits, etc.
Also look at last time (2007?) when mosts atms went "out of order" shortly after the crisis... (in France).

So what can you do if the ATM are either out of cash, or "out of order"?

...
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  #262  
Old 16.06.2012, 01:12
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Re: How long does the Euro have left?

Ironically it seems that many traders believe the euro is so high in current situation because the SNB keeps buying them.
Next question is "what does the SNB do with all these euros??"

One answer is Dutch short term bonds
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  #263  
Old 16.06.2012, 15:05
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Re: How long does the Euro have left?

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Also look at last time (2007?) when mosts atms went "out of order" shortly after the crisis... (in France).

So what can you do if the ATM are either out of cash, or "out of order"?

...
after i saw what happened during icesave, i withdrew some 'emergency' money and put it into secure storage. since you get hardly any interest, it's worth having a bit of an emergency fund in case it goes pear shaped.
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  #264  
Old 18.06.2012, 13:35
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Re: How long does the Euro have left?

Anybody know what the Drachma-Euro exchange rate stands this morning?
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  #265  
Old 18.06.2012, 16:34
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Re: How long does the Euro have left?

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Anybody know what the Drachma-Euro exchange rate stands this morning?
Just send me all your euros & I will send you a sack full of Drachma
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  #266  
Old 18.06.2012, 17:50
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Re: How long does the Euro have left?

reported today that Greeks are withdrawing some EUR 600 million a day from the banks.. which is being replenished by the ECB's ELA facility. so one way or the other

a) Greece is going to end up being bankrupt soon, and
b) Europe (read Germany) will end up having paid for it
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  #267  
Old 18.06.2012, 18:23
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Re: How long does the Euro have left?

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reported today that Greeks are withdrawing some EUR 600 million a day from the banks.. which is being replenished by the ECB's ELA facility. so one way or the other

a) Greece is going to end up being bankrupt soon, and
b) Europe (read Germany) will end up having paid for it
If there's a run on the Greek banks, I can see that that can cripple the banks, but not really Greece as such.
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  #268  
Old 18.06.2012, 20:58
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Re: How long does the Euro have left?

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If there's a run on the Greek banks, I can see that that can cripple the banks, but not really Greece as such.
There is logic in what you say but unfortunately those in control of Europe's money supply will not allow logic to prevail.

Those in control of the 'euro experiment' do not care about Greeks or the Greece economy. Their interest is to pursue the euro experiment at all costs. In their defective view of things the insolvent European banks will be supported at all costs. ...and f*** what is best for the peoples of Europe.
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  #269  
Old 19.06.2012, 00:32
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Re: How long does the Euro have left?

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If there's a run on the Greek banks, I can see that that can cripple the banks, but not really Greece as such.
well, what you say sounds logical.
but if you read about ELA, you will find that the money given to the Greek banks is treated as debt for the Greek National bank. Which, of course, is backed by the Greek state...
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  #270  
Old 19.06.2012, 04:19
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Re: How long does the Euro have left?

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There is logic in what you say but unfortunately those in control of Europe's money supply will not allow logic to prevail.

Those in control of the 'euro experiment' do not care about Greeks or the Greece economy. Their interest is to pursue the euro experiment at all costs. In their defective view of things the insolvent European banks will be supported at all costs. ...and f*** what is best for the peoples of Europe.
Well, if you read the beeb today, it seems the eurocrats are too busy blaming the US for the banking crisis at the G20 to actually do anything to solve the actual crisis so...whatever their ultimate interest is, it has FAIL written all over it. Too many people too preoccupied in finding someone to blame than to put the political issues aside in order to solve the problem at hand. In systems engineering, we wait to do the post-mortem after the crisis has been solved. It would seem Europe could take a few hints from that approach. I keep hoping someone, anyone, will buy a vowel and work it out but I'm losing that hope. I'm glad these asshats aren't in charge of important systems on the internet as the uptime would go from 99.999% to more like 45%.
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  #271  
Old 19.06.2012, 04:50
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It's only a matter of time until the EU decides to try to bring the regulation of the internet within its powers...
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  #272  
Old 19.06.2012, 09:09
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Re: How long does the Euro have left?

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It's only a matter of time until the EU decides to try to bring the regulation of the internet within its powers...
The already did with the absurd cookies law...
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  #273  
Old 19.06.2012, 21:42
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Re: How long does the Euro have left?

Deary me!

2 days after the Greek election and the world has not yet come to an end!
Or has it?

Market Data

Last Updated at 18:21 GMT
Dow Jones 12888.76 Up 146.94 1.15%
Nasdaq 2937.96 Up 42.63 1.47%
FTSE 100 5586.31 Up 95.22 1.73%
Dax 6363.36 Up 115.16 1.84%
Cac 40 3117.92 Up 51.73 1.69%
BBC Global 30 6087.15 Up 37.57 0.62%

Last edited by ratbag; 19.06.2012 at 21:44. Reason: formatting
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  #274  
Old 20.06.2012, 02:44
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Re: How long does the Euro have left?

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Deary me!

2 days after the Greek election and the world has not yet come to an end!
Or has it?
This is the way the world ends
This is the way the world ends
This is the way the world ends
Not with a bang but a whimper. -- TS Eliot


Personally, I don't think the market is any indication of anything rational or sane...much like lemmings in search of an ocean.
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  #275  
Old 20.06.2012, 11:40
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Re: How long does the Euro have left?

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.much like lemmings in search of an ocean.
They were pushed!!!
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  #276  
Old 20.06.2012, 12:49
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Re: How long does the Euro have left?

well, i am no finance guru and i am absolutely lost in whats going on in this crisis....but one thing that makes me wondering is: i watched a documentary about Kos/Greece and Bodrum/Turkey. they showed how prosperus the 20km away Bodrum is like and how the situation changes for the worse on Kos island/Greece.

they spoke to the greece ferry captain who said, he earns 5000 euros (dunno if it was gross or net, but it doesnt matter as this wage is NUTS, overpaid job!)the turkish earns 1200 euros. i have heard that a Greece train driver earns up to 7500 euros in Germany it is maybe 2500-3500 euros gross. wtf??? if thats the case id quit here and start my train driver job now!?

AFAIK the cost of living, housing etc. is not that high in Greece compared to other EU countries, the trainfares are rdiculous low in Greece... so i wonder how on earth do they get such high salaries in Greece as in the EU the wages for such jobs a are lower and the cost of living is even higher?

and what makes me wonder is why do people demonstrate as their wages get cut (it is a bitter pill and i wouldnt like that too, but i could see that 1 and 1 makes 3 with such miss-management, overpaid job) as they still can pay the bills and still (can) save money with the knowledge that they ran the country into a bust?


can somebody shed some light on this issue?
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  #277  
Old 20.06.2012, 13:29
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Re: How long does the Euro have left?

spain and italy follow suit

http://www.telegraph.co.uk/finance/f...and-Italy.html
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  #278  
Old 20.06.2012, 13:46
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Re: How long does the Euro have left?

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and what makes me wonder is why do people demonstrate as their wages get cut (it is a bitter pill and i wouldnt like that too, but i could see that 1 and 1 makes 3 with such miss-management, overpaid job) as they still can pay the bills and still (can) save money with the knowledge that they ran the country into a bust?

can somebody shed some light on this issue?
It has much less to do with finance than with human nature.

imagine an oil field below Zurich. It has a certain finite amount of resource in it, and it can sustain a certain amount of production (withdrawal from the finite resource) before its structure is permanently damaged. The field can produce enough to meet our current needs, and contains enough to meet our future needs as well, as long as it is drained at a reasonable pace..

Further all Zurchers are allowed to drill holes into the oil field and produce what they need. Now it is theoretically possible that the Zurchers, individually, or more likely as a collective, assess their reasonable needs and the production capacity of the field and their future needs, and draw responsibly using a small number of optimally placed oil wells.

Much more likely, each citizen soon realizes that while restraint leads to common good, shamelss exploitation leads to personal gain (at the cost of your neighbors, but damn them all). Once your neighbor starts to suck out more oil than he needs, he is depleting the common resource and benefiting at your cost, and it is only logical for you to drill deeper and suck as much as you can... while both of you fully understand that your actions collectively equate suicide, you nevertheless push on because your actions are also logical for you personally.

That explains Greece, and pretty much the whole EU mess as well...
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  #279  
Old 20.06.2012, 14:17
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Re: How long does the Euro have left?

Sounds kinda like Capitalism!

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.
.
.
Much more likely, each citizen soon realizes that while restraint leads to common good, shamelss exploitation leads to personal gain (at the cost of your neighbors, but damn them all). Once your neighbor starts to suck out more oil than he needs, he is depleting the common resource and benefiting at your cost, and it is only logical for you to drill deeper and suck as much as you can... while both of you fully understand that your actions collectively equate suicide, you nevertheless push on because your actions are also logical for you personally.

That explains Greece, and pretty much the whole EU mess as well...
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  #280  
Old 20.06.2012, 15:07
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Re: How long does the Euro have left?

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Sounds kinda like Capitalism!
Actually in Capitalism the aforementioned oil reserve is supposed to NEVER finish and might probably ALWAYS grow and replenish itself. The rest of the description remains the same .
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