Despite the doomsayers, I still think the euro will survive.
Call its first real test. Greece will have to suck up (and Portugal & Spain).
This side of the English channel, the euro’s ability to weather this is being watched very closely with the euro-sceptics having a field day. I’m ambivalent about this. Initially i thought this might mean a closer EU if Greece was bailed out by it but I’m being persuaded otherwise by a few articles in the press spelling out the implications of doing so. I may want a more closer EU but this perhaps isn’t the way to do it. But it should make us stand up and admit a more cohesive EU needs more work. I suspect potential new members might have their applications delayed until this is hammered out (‘cos referenda won’t be held. :-|).
(that said, I’ve transferred all my euro deposit accounts over to sterling. omQ R, you hypocrite!)
China is already propping up the dollar, especially as related to its own currency. Europe, not so much - but even the ECB isn’t really keen on an expensive Euro, as it overprices the exports of the Euro-zone.
OmqR-IV.0 about 14 years ago
Despite the doomsayers, I still think the euro will survive. Call its first real test. Greece will have to suck up (and Portugal & Spain). This side of the English channel, the euro’s ability to weather this is being watched very closely with the euro-sceptics having a field day. I’m ambivalent about this. Initially i thought this might mean a closer EU if Greece was bailed out by it but I’m being persuaded otherwise by a few articles in the press spelling out the implications of doing so. I may want a more closer EU but this perhaps isn’t the way to do it. But it should make us stand up and admit a more cohesive EU needs more work. I suspect potential new members might have their applications delayed until this is hammered out (‘cos referenda won’t be held. :-|). (that said, I’ve transferred all my euro deposit accounts over to sterling. omQ R, you hypocrite!)
4uk4ata about 14 years ago
China is already propping up the dollar, especially as related to its own currency. Europe, not so much - but even the ECB isn’t really keen on an expensive Euro, as it overprices the exports of the Euro-zone.