When Eurozone collapses, what next? (feels more when than if)

[Hamishbear]

Posted on Chat but felt this may be a better place.

So, the bailouts can't continue indefinitely, what happens next?

What's the best case scenario and how will it affect us in the short term and long term?

Correction, it is not a doctors' strike, it is industrial action.

It makes you wonder if the 1972 elite Club of Rome's' green, environmental 'Limits to Growth' report was the precursor to the 2012 'Limits to Living Standards' austerity programme.

Everywhere you look, you hear the elite using the word 'catastrophic'. It's 'catastrophic' for the public as we can see in Greece and Spain, but do the elite experience the same?

www.guardian.co.uk/environment/2012/jun/18/rio-20-prince-charles-earth-summit?newsfeed=true

It really is 'catastrophic' for Greek people, but Christine Lagarde has little sympathy for their 'catastrophic' plight

www.guardian.co.uk/world/2012/may/25/payback-time-lagarde-greeks

I bet it is different when it comes to the polar bear.

As they look down from their ivory towers, the contempt they feel for the public is palpable. They don't even hide it, they drop all their artifice and spin, they come right out and say it and don't even feel it's a sin.

The is straying into David Icke territory now. Better to read the ft and arm yourself with the facts than drift into conspiracies

For facts, look to the Daily Mail.

Ha ha

delivery claig.Remember what we said yesterday

All this is lifted directly from Internet forums or do you claim it as your own?

The catastrophic climate con is no laughing matter. I doubt the FT gives the public the facts on that one. For that, the informed turn to the pages of the Daily Mail, the people's paper, rather than the FT, the elite's paper.

I don't read Internet forums. I only skim the Daily Mail and listen to news headlines.

That explains it

'That explains it'

Agree entirely, the Daily Mail does indeed explain it.

Hilarious

'Hilarious'

Yes the Daily Mail's Quentin Letts is good, but not that good.

Niceguy you hit the nail on the head when you talked about contagion.

As things stand, when Greece goes, Italy and Spain's credibility as euro members will be shot, their bond yields will go through the roof. Don't forget that as eurozone members they do not have independent central banks to act as lenders of last resort so the impact of rising bond yields is far more serious than it is for the UK. Spanish bond yields are already above 7% (the bailout trigger for Portugal and Ireland) how much further can they rise? IMO, if Spain and Italy are shored up at the time of the Greek exit, and if there are no further shocks, the euro may survive allbeit in a different form.

Let's not forget that the Maastricht Treaty proposed that governments limit their debt to GDP ratio to 60%. If that had been enforced and the politicians prepared to wait would we be in this mess?

'If that had been enforced and the politicians prepared to wait would we be in this mess?'

The Chinese word for crisis also means opportunity. The CEO of Goldman Sachs talks of a "crisis moment" in order to solve the political issues. Without this crisis, there would be no prospect of countries handing over more sovereignty, no, as Cameron says, "make or break", no prospect of closer fiscal union or closer political union.

The Eurozone will be reborn like a phoenix rising from the ashes, and it will be far closer, far tighter, far stronger, far more integrated.

Prince Charles called for more integrated thinking to tackle climate catastrophe. We are going to see integrated thinking in spades.

Cameron has told us what needs to happen, and of course that is exactly what will happen.

'Why Eurozone should become United States of Europe, by David Cameron'

www.dailymail.co.uk/news/article-2034521/Why-Eurozone-United-States-Europe-David-Cameron.html

And why is it necessary? Why does it matter to us? How will it affect the good Daily Mail reader? Why are they doing it? Why does this crisis even exist? Why do they want further integration?

It is because they need "integrated thinking" to tackle the problems they tell us exist. They say there is "catastrophic climate change" and they need "integrated thinking" to tackle it.

When they create a closer union, not only will there be economic deficits, but now there will also be a democratic deficit. Nobody will be able to challenge their "integrated thinking". They will deliver their elite green 'Limits to Growth' agenda. They will save the polar bear, but what about the people, will they for them shed a tear?

You only have to look at the Guardian headline about Christine Lagarde's message to the Greeks - "it's payback time: don't expect sympathy".

Note that Lagarde's message is really to the Greek people, not the Greek politicians who got them into the mess.

That same shower of politicians is still in power, they've reshuffled their seats and wear slightly different shaped hats, but it's the same old elite fat cats.

Another catadtrophic, apocalyptic message from the elite technocrats

www.guardian.co.uk/business/2012/jun/22/mario-monti-week-save-eurozone

The comments of Guardian readers show that hardly anyone buys the lies anymore - a week to save the Euro, 50 days to save the planet, 50 ways to fool the voter.

Soon, even Guardian readers will no longer believe the apocalyptic pronouncements from their Earth Summits while June temperatures continue to plummet.

So for the people there is hope, we will escape their yoke, our growth they cannot choke, on them will be the joke.

claig,are you happy or fearful.
This sort of stuff can become overwhelming.Sometimes it is worth stepping back from the situation.If yuo are anything like me,yes we have had to alter a few business decisions,but nothing major has happened so far.And yes ,my DH and I review the business from time to time,and try to predict what will happen.
But in the last 3 or 4 years,since all this kicked off,very little has really changed for us,and probably for you too.
So I think,and I am talking to the op too,that things need to be kept in perspective.Yes,things may get a whole lot worse in the fitire,but they may not.And other than preparing,and praying if you are religious,then at the moment,we also need to remember to enjoy the life we are living right now.

Ultimately, my feeling is that politicians will keep on kicking the can down the road, trying to preserve the banking system and the Euro project until it eventually collapses in a chaotic breakup.

This is a political project and there is no way any established European politician is going to agree to disband it from the inside. Market forces will have to destroy it from the outside.

Those market forces will create either a deflationary depression or a hyperinflationary depression. There is no nice way out of this. Many people will have their savings, pensions, jobs, businesses and lives destroyed in the process.

It didnt have to be this way but politicians have refused to acknowledge the Euro is a bad idea for to long and every time they 'save it' the eventual fallout of the ultimate collapse gets worse.

You are exactly right. I am an optimist. I don't believe in their "tipping points" or their "catastrophic" climate predictions. I believe in humanity. I believe that the "the good shall not fail, the right will prevail". I believe, like Robert Burns, that their best laid plans shall go awry. I believe in the public good, the public will and the sense of the ordinary person. I believe that crooks and cheats and scammers shall always fail; I believe in the Daily Mail.

They cannot keep the good people down, we will not under their global warming deluges drown.

You are right, the economy will return to growth, the Greek and Spanish people will not accept the situation forever. Time is running out for the schemers, which is why their apocalyptic screams sound more and more like bad dreams.

Some of the doom and gloom about cuts has been overdone in order to frighten, but it will be impossible to ever more tighten. The sun will return, the weather will brighten.