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“The Euro will collapse either totally or in part” – MEP

Published: 16 March, 2010, 15:12
Edited: 21 September, 2010, 03:33


EU finance Ministers have assessed the financial lifeline for debt-stricken Greece. Any concrete decisions on the issue will be made by the European Commission, should Greece decide to formally request economic aid.

 
10 COMMENTS
EML March 16, 2010, 00:12 quote
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hmmm, so should i change my euros to rubles asap? can anyone give me a heads up?

Impera March 16, 2010, 03:23 quote
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Oh dear it seems the Euro is in some Real danger of collapse or maybe is in some regions of the European Union, as this currency gets weaker and weaker day by day this will seriously erode the currency even further, and further embolden the Euro-Currency sceptics to campaign against the Euro to bring back individual Currencies of the old days. I can only hope that one day lessons will be learn't that adopting a new Currency in the midst of poor and incompatible nations is most certainly a bad move as long as they still obtain the single Currency they may need to revert back to their former Currency and start all over again from scratch, such as Greece,Spain,Portugal,Italy,and Ireland. Ever since the introduction of the European Single Currency all 17 Nations have never been the same. I mean if you go to France you would expect to have a French Franc in your pocket or wallet it is that old feeling of nostalgia that some elderly people feel every time when they go to a country that has the European Single Currency. I would love to see the return of old traditional values in the European Union and let shine of individuality and national spirit. I hope that Russia does not fall foul to the pitfalls of adopting the Single Currency in the forthcoming future with the "All-New" "Union Rouble" because all new nations will have to have exactly the same worth of Currency between all Union countries, Russian Rouble,Belarus Rouble, and the Kazakhstan Tenge will all have to be equal value in order to adopt the "Union Rouble". So having a single Currency is indeed a most complicated and rather time consuming job but those that persevere and adapts to a Single Currency not like the Euro will be indeed been given a great fortune of economic wealth and stability in the Union in question. Bottom line is the Euro was always a Doomed Currency as it was way too premature and did fall under any form of criteria of equal value of 17 adoptive states that will be their detriment.

Lelorrain yves March 16, 2010, 14:24 quote
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The Euro will collapse, ah the British said so since the currency was created for the past 10 years........and it's a daily talk on their news so they feel proud of the Sterling which is not too well either,"God save the queen"

Sebastien March 16, 2010, 14:27 quote
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wow.. what a typical comment from nationalists of UKIP. This is not a surprise since they just hate UE. Maybe this newspaper should be more cautious and also give voice to others opinion too. This would show a more balanced view of the issue, because UKIP is not reprensentative of all european opinions at all. And about France, I can tell you that we won't switch back to "old currency" because of "nostalgia" or whatever. What you may not understand properly is that Euro is not only a currency, this is a symbol. My generation is european before any other nationality. For us, UE is the future, not the old nations.

Nikolov March 16, 2010, 15:03 quote
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@Seb, we aren't "European" before nationality, we are European 2nd. But as u say, EU economic cooperation is the future n the €uro is part of that. There is no such thing as rewinding the clock, whatever the doomsayers whine about. This attack on the €uro originated in USA, (ofc) I think punishment is in order. If anyone's currency should be in doubt, it is the stupid dollar! This is below the belt for them to do this to the EU. This will not stand!

The Old Man March 16, 2010, 16:21 quote
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The Euro is currently the only international currency that still has the potential to threaten the US dollar as the global reserve. There are many who have a considerable interest in seeing a very weak / volatile Euro, however there are also many more with a considerable interest in seeing a strong Euro. The Euro will not collapse, too much is at stake, however things may get worse before they get better, and some countries may find themselves 'cut loose' from the Euro zone. At the moment the Euro is being 'talked down' just as the Dollar is being 'talked up'. Attacks on foreign currancy is part of the 'grand game' between competing powers and is nothing new. The Europeans do have an ace card however, in that they can, for the most part at least, back the Euro with gold, precious metals, and other tangible assets. To the best of my knowledge this can no longer be said of the US Dollar. If I had to choose a piece of paper to link my assets to it would be one that could be backed up, and that rules out the currently overvalued Dollar.

Akropolis March 16, 2010, 17:57 quote
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Everyone should take a chill pill euro is going no were ,.... About Greece, the previous Greek government lied to the EU about its finances so from one point EU has a point to be angry at Greece but we are today we cant do anything about the pass, Greece has taking tough austerity measures they are tough but also are necessary, the Greek government went to the EU and asked for fist of all political support to get rid of the speculators and the anti EU opportunists and second Greece wants to be able to get loans from EU if it wishes at the same rate that other countries get like France or Germany and not the double rate that Greece was getting in the past and this are loans that Greece will have to pay back, if not then we will have to go else were like the IMF ,...Greece is a country were the GDP per capital is over 30.000$ and with a strong social base, everyone is worried but us Greeks we are going no were, we are there we are strong,.... i have been reading the bashing Greece has been receiving in some media its absolutely hilarious.

Michael March 17, 2010, 00:19 quote
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March 16, 2010, 17:57, Akropolis wrote > Everyone should take a chill pill euro is going no were ,.... > About Greece, the previous Greek government lied to the EU about its finances so from one point EU has a point to be angry at Greece but we are today we cant do anything about the pass, > Greece has taking tough austerity measures they are tough but also are necessary, > the Greek government went to the EU and asked for fist of all political support to get rid of the speculators and the anti EU opportunists and second Greece wants to be able to get loans from EU if it wishes at the same rate that other countries get like France or Germany and not the double rate that Greece was getting in the past and this are loans that Greece will have to pay back, if not then we will have to go else were like the IMF ,...Greece is a country were the GDP per capital is over 30.000$ and with a strong social base, everyone is worried but us Greeks we are going no were, we are there we are strong,.... > i have been reading the bashing Greece has been receiving in some media its absolutely hilarious. You are on the right track here ...Greece has been undermined by speculators pushing poor quality overrated financial instruments on it and now waiting to cash in if Greece falls short.Get your boot behind these vultures and kick them out of your country before they bankrupt it. One thing is for certain...the average citizen did not cause this mess

Sean March 17, 2010, 03:45 quote
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Nikolov, cool down with the Anti-American sentiment. Should Boeing be to blame for 9/11, should Russia be to blame for the death and destruction that has come fourth from the AK-47.

Meslin September 20, 2010, 20:25 quote
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So, we are at the end of September and the Euro is doing very well...What is all that fuss about: Just speculation and ways to make oneself known. JCM

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