France and Greece Election results!

[LadyWithEDS]

So, what do you think it means for Europe?

Tonight markets fell heavily on news that there is cash draining out of the Greek banking system at record pace. In effect an electronic bank run on all Greek banks is happening because of uncertainty. This capital flight may lead to capital controls. That is impossible in a single currency area. Its like trying to stop people taking their £ out of Welsh banks.

They'll be saying hello to it again before the end of the year. Greece will be forced by France and Germany to default, and France and Germany will try to make it look like it's Greece's idea.

Schools - very very interesting comments about 'Greek' Euros and 'German' Euros. Quietly, the people of Europe are gardually dividing along national lines again regardless of what politicians say. I hear a Dutch man was attacked in Greece yesterday as he was mistaken for a German. Very sad.

Are you in Germany? I recall hearing that many people in Germany have habitually sorted through their Euro notes for the last several years to make sure they get rid of any Greek ones ASAP.

You are correct about De La Rue. Annoyingly, I did not invest in it. [grrrr]

I just watched a little of Mervin King on BBC News, he was saying a huge storm is coming and telling uk banks to keep their capital. I read that article about the Greek Euro.

Unusually for Merve the Swerve, he's right. The collapse of the Eurozone will limit people's willingness to invest. Nobody will risk their money at the moment. The EU may well find a way to kick the can a few months down the road but the longer Greece remains in the Eurozone the worse it gets for all of us.

Remember that the Eurozone is a political project, not an economic one. This is all about appearance, about politics, not about your money and mine. The EU will spend every last penny of our money in order to save its beloved project.

Well I for one will be getting some cash out of the cash machine today, it worried me when he told the banks to hold on to their capital and not even give it to their shareholders.

Just been looking at this. It seems to update.

www.telegraph.co.uk/finance/debt-crisis-live/9268748/Debt-crisis-live.html

The spanish stock markets taking a dive. On R4 yesterday they were interviewing santander uk banking boss. Wondering if I should close santander acc, haven't checked share prices, I'm guessing they are worth diddly!

Asilly, are you in Greece?

I am in England, no harm in having a few hundred in cash lying around at times like these, when the talk is as it is .

I thought the government gave guarantees on savings for situations like santander, the kids have a little saved with them, do you think it is worth taking the money out?

The Santander guy would neither say that it was safe or not. It's a subsidiary so should be fine but he didn't seem very confident

[[http://www.direct.gov.uk/en/Nl1/Newsroom/DG_193322 Here's a link to th direct.gov page on the savings guarantee. The ceiling is huge £85k. The UK retail bit of Santander is covered.

Link fail (forgot to close brackets): it should be like this

Here's a link to the direct.gov page on the savings guarantee. The ceiling is huge £85k. The UK retail bit of Santander is covered.

Thank you meditrina.

www.bbc.co.uk/news/uk-politics-18088918

www.dailymail.co.uk/news/article-2145139/Eurozone-debt-crisis-Fears-panic-investors-pull-1-4billion-euro-days.html Cameron is changing his plans for tomorrow, he was planning on speaking about "The family" he is now going to speak about Europe.