Re: Eurozone will collapse...
 

http://www.bbc.co.uk/news/business-18333240

Sounds like the Perfect Storm scenario.... shareholders and creditors will then sell off all stock and withdraw all cash from banks they fear will fail.

Are the Eurocrats who came up with this idea on the same planet as the rest of us?

Re: Eurozone will collapse...
 

Indeed it is, which is why the Rothschild banking family have been buying it up. They are also involved in deciding the world price for gold. Nice work if you can get it..

Re: Eurozone will collapse...
 

that wont go down well can you remember the names in lloyds moaning they will go broke if they cough up to bail the bank.

I bet they all ready starting to bail before the move.

Lets hope if its possible they backdate it so they can still liable.

Re: Eurozone will collapse...
 

The names in Lloyds of London are about specialist insurance funding - are you sure you meant to link them to the bank bail-out, when in fact the banks were bailed out by the government/taxpayer?

Re: Eurozone will collapse...
 

sorry for not replying hugh been very ill.

Yep got mixed up on it yeas it was insurance now that you mention it.

So basically you could get the same situtation moaning it will break them.

Re: Eurozone will collapse...
 

The big difference is that those who have invested via banks can only at most lose the money they pay in. Those that invest in Lloyds of London Insurance can lose everything, as there is unlimited liability(ie blank cheque).

Re: Eurozone will collapse...
 

Has it not collapsed yet :rolleyes:

Maybe it needs a push ;)

Re: Eurozone will collapse...
 

On a slightly more positive note, it seems that customers of Santander UK will be protected should Santander (Spain) go belly up. Scant consolation for anyone else in the Eurozone who might lose their shirts, however at least Britain has a better chance of surviving the almost inevitable crash. We, thankfully, didn't adopt the Euro although via the IMF are still being milked for the financial shoring up of this disastrous idea.

Re: Eurozone will collapse...
 

Santander UK has its own UK banking licence so the usual depositer protection rules apply. However since it owns a number of institutions (as do many of the other large banking groups) the maximum level of protection (currently £85k per person or £170k for couples) is split between any deposits with any of those other institutions. This may not pose a problem for many people but for those with greater savings (sitting on the proceeds of a house sale for example) it would do if the bank were to collapse.

http://www.moneysavingexpert.com/savings/safe-savings


Having said that, the repercussions for all of us (savers or not) of a bank like Santander going belly up would be severe.

Re: Eurozone will collapse...
 

You're absolutely correct Osem. Still a rather unsettling future.

Re: Eurozone will collapse...
 

Germany just don't seem to want to do anything. Probably printing Deutsche Marks as we speak. :erm:

Re: Eurozone will collapse...
 

As long as it's not Reichmarks.....

Re: Eurozone will collapse...
 

Germany is forbidden by its constitution - a constitution, incidentally, dictated to it by our good selves and the rest of the Allied powers in 1945 - from guaranteeing the debts of third parties in the way some have been pressing in recent days.

To be honest, my sympathies are with Frau Merkel here. Her job as Chancellor is to look after the interests of the people who elected her. I don't see how those interests could possibly be served by Germany becoming guarantor of the shoddy financial practices of certain other Eurozone states. She is quite right when she says that mutualised government borrowing via Eurobonds is something that can only follow after the Eurozone states enter a full and formal fiscal union whereby the whole can intervene to prevent profligate behaviour on the part of one or more of the others.

The quandary is, without Germany agreeing to pay for the Euro-bandwagon - and quickly - the wheels are going to come off, most likely in spectacular fashion, before the year is out.

Re: Eurozone will collapse...
 

spain downgraded uk warned to get growth by fitch parasites these stupid rating agencies.

http://www.guardian.co.uk/world/2012...owngrade-fitch

Thick 2 short planks as they had not clue like IMF they done more harm than the crooked banks.

read this on reply could not argue against it removed the swearing mods.

freedom was always going to create greed and corruption.

There been some very decent comments such why agencies only acted after issues not before considering people use them for speculation advice.

Re: Eurozone will collapse...
 

http://www.guardian.co.uk/world/2012...?newsfeed=true

Another house of cards economy being exposed for all to see...