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[The Mad Monk]

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[BeBMan]

nµ

[GePap]

My HP keyboard is still proudly nationalistic. Only $$ baby!

[Traianvs]

no.

i should think that europeans would be more concerned about existing members leaving the single currency than bringing anyone else in.

Quite a few of the (new) EU members are pretty relieved they're part of the Eurozone, because without it they would've plunged into an abyss of financial cataclysm. You know, with the crisis and all.

[Nikolai]

Welcome to the new millennium, Mad Monk.

[-Jrabbit]

On my American Mac...

opt-y = ¥
opt-3 = £
opt-4 = ¢

To get a Euro symbol requires shift-opt-2 -- (testing) € (yup)

[C0ckney]

Quite a few of the (new) EU members are pretty relieved they're part of the Eurozone, because without it they would've plunged into an abyss of financial cataclysm. You know, with the crisis and all.

if you're going to adopt that condescending tone, you might at least have something to say.

i was, of course, referring to eurozone countries who are staring into the abyss, ireland, greece and portugal. even austria isn't looking too clever with its banks tied into shaky eastern european investments. i have read that some people and politicians in these countries have been questioning the wisdom of joining the euro and many commentators here have suggested that some eurozone countries may consider quitting the single currency. personally, i can't see it happening (whatever the economic arguments, it would be political suicide), but the very fact it's being talked about says a lot.

eastern europe is not looking very healthy at all. hungary has been bailed out, the baltic states are in serious trouble, poland could soon find itself in severe difficultly (60% of mortgages there are in swiss francs, the zloty has more than halved in value against the franc in recent times). the financial storm in europe has a long way to run and almost all the money owed by eastern european countries is owed to eurozone countries (especially banks in austria, sweden, greece, italy, and belgium). in other words, when these eastern european countries go down, they will take a lot of western european banks with them. this will only increase the strain on the single currency. i think that the financial crisis will affect europe far more, and for a longer period, than it will for the united states and the UK. it will prove a very stern test, and i wonder if the eurozone countries will pass it.

[Traianvs]

if you're going to adopt that condescending tone, you might at least have something to say.

i was, of course, referring to eurozone countries who are staring into the abyss, ireland, greece and portugal. even austria isn't looking too clever with its banks tied into shaky eastern european investments. i have read that some people and politicians in these countries have been questioning the wisdom of joining the euro and many commentators here have suggested that some eurozone countries may consider quitting the single currency. personally, i can't see it happening (whatever the economic arguments, it would be political suicide), but the very fact it's being talked about says a lot.

eastern europe is not looking very healthy at all. hungary has been bailed out, the baltic states are in serious trouble, poland could soon find itself in severe difficultly (60% of mortgages there are in swiss francs, the zloty has more than halved in value against the franc in recent times). the financial storm in europe has a long way to run and almost all the money owed by eastern european countries is owed to eurozone countries (especially banks in austria, sweden, greece, italy, and belgium). in other words, when these eastern european countries go down, they will take a lot of western european banks with them. this will only increase the strain on the single currency. i think that the financial crisis will affect europe far more, and for a longer period, than it will for the united states and the UK. it will prove a very stern test, and i wonder if the eurozone countries will pass it.

Condescending?

My impression is that on the whole analysts agree that the Euro saved currency runoff, stock markets from plummeting and rampant inflation in countries like Ireland. Even in Belgium financial experts are relieved we're part of the Eurozone, saying we couldn't have limited the damage on our own.

Being an integrationist my feeling is the Commission and that lame duck Barrosso failed to organise a joint effort to pull the EU out of the financial swap, but at least the ECB with its limited powers kept down interest rates. Better than nothing at all I suppose.

But you're at liberty to mention which politicians are claiming it's a better idea to leave the single currency. If you are referring to the so called 'Eurorealists' (a moniker for Eurosceptics), ...

FYI: Belgium has little or no banks left. They're pretty much all in foreign hands now, thanks to the financial crisis, poorly planned negotiations and our internal political crisis (Belgian government has come to a standstill due to bickering over a new state reform, with debt soaring once again etc)

[Dauphin]

The UK would have been worse off in the Eurozone. The argument for the UK staying out is stronger.

Most of the other small countries would have been worse off outside the Eurozone.

Everyone's a winner.

[Zkribbler]

Is "€pe" pronounced "Europe"

[The Mad Monk]

No.

That would be "€p".

"€pe" decribes what you find in the gutters after soccer matches.

[C0ckney]

Condescending?

well, that's how your post came across.

My impression is that on the whole analysts agree that the Euro saved currency runoff, stock markets from plummeting and rampant inflation in countries like Ireland. Even in Belgium financial experts are relieved we're part of the Eurozone, saying we couldn't have limited the damage on our own.

Being an integrationist my feeling is the Commission and that lame duck Barrosso failed to organise a joint effort to pull the EU out of the financial swap, but at least the ECB with its limited powers kept down interest rates. Better than nothing at all I suppose.

But you're at liberty to mention which politicians are claiming it's a better idea to leave the single currency. If you are referring to the so called 'Eurorealists' (a moniker for Eurosceptics), ...

FYI: Belgium has little or no banks left. They're pretty much all in foreign hands now, thanks to the financial crisis, poorly planned negotiations and our internal political crisis (Belgian government has come to a standstill due to bickering over a new state reform, with debt soaring once again etc)

i agree that being part of the eurozone has helped many of the countries during the crisis (i don't think anybody denies this). the criticisms i have read relate more to the price that countries (or more accurately people in those countries) paid to join the euro and the lack of flexibility and more limited room for manoeuvre since joining and leading up to the current situation. so people have questioned the wisdom of joining in the first place and ask whether they might have been better off staying out of it. i don't know if they are right, but nevertheless, it is being said.

in any case, my point was more about the stresses and strains that the crisis and the collapse of parts of eastern europe will put upon old eurozone countries.

i too think that barrosso is a lame duck, but i think there are other factors which explain why there wasn't a real joint effort, as you put it. for example, a german politician is going to find it hard to explain to his constituents why they are bailing out some other country, when germany's exports are collapsing and the economy is contracting rapidly. the big countries have their own problems and i don't think there is the political will to organise a real joint effort. i still don't think there would be even with a forceful and energetic EU president.

[BeBMan]

for example, a german politician is going to find it hard to explain to his constituents why they are bailing out some other country, when germany's exports are collapsing and the economy is contracting rapidly.

That's actually something which is not really questioned much here, because as an export nation we rely heavily on product orders from elsewhere, so it's a key interest to have other economies not breaking down since that hits us hard as well.