Europe Going Broke

[retro]

Re: Europe Going Broke

Soros and his cronies have been shorting the EUR for months and it has deprecated by 5% in the last few weeks against Sterling.

Greece only accounts for 3% of the EU economy and Spain has always been a basketcase and had 9% unemployment during the boom. The upshot of a weaker EUR is that it supports EU exports and attracts foreign investment and I don't view it's recent weakness as entirely a bad thing.

[KanadaHye]

Re: Europe Going Broke

Let's see what happens to the mighty "Euro" when Portugal and Spain go through the same crisis as Greece is going through.

Spain has a 20% unemployment rate which means it'll be impossible to find taxable revenue to fix budgetary shortfalls when people can't find jobs/work.

Let's not forget Ireland..... followed by the big hurt..... Italy and England.

Mind you, there are plenty of wealthy people living in all these countries but the majority will feel the pain because the wealthy aren't the ones contributing to the majority of taxes.

[Haykakan]

It is hard not noticing what is happening in Greece lately. The economic collapse there could be a preview of whats to become of Europe. In my opinion this is part of the plan for the world bank to take over Europe. I think this is a important subject thus i started this thread.