Re: Re: Demise of the Euro closer? – Ignore this if it bores you

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Chris McCarthy
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@flosmichael wrote:

Chris, knocking people on forums won’t change the outcome. European politicians are running like headless chicken, without having a clue on what the economic situation is.

Of course we are not all doomed. Just will be poorer in the future but most of us will still be richer than our parents at our age. We will just need to spend money more wisely and think twice before buying luxuries (among them the stupid houses in foreign countries that we do not understand).

The latter part of you post is a responsible, reasonable post that I have no argument with at all.

As to the first part, I am hopefully not so much knocking people per se, as trying to calm things down a touch.

I think UK politicians can equally be seen to have run around like headless chickens, the worlds a screwed up place, but actually, there is another way to look at this.

One could say that Greece is being seen to come right in line and take its medicine, Italy now also, then whoever is next, the Germans are indeed ensuring that people now behave responsibly, appropriately and pay the price. There is no short cut easy answer, there is only real hardship for awhile, then real recovery.

They are holding back on the very notion of quantitative easing, which the US and UK rushed to, they not making it easy for anybody to use the ECB as a last resort and nor should they.

It could rightly be said, that the Germans they are creating a fine example that we should all follow and had we already done so – nobody would be in this mess.

I mean hello…, is anyone going to argue that the Germans have managed this process and their country better than the UK in the past 10 years or so?

It could be said, and will be in the future, that the Eurozone will be come ever stronger now and will indeed benefit from far greater fiscal union.

Instead we have an almost hysterical, I told you so, the Euro is going down tomorrow, look at this that and the other half baked analysis, and spiralling doom and gloom scenarios largely written by people who don’t their proverbial from their elbow.

There will be good that will eventually come from all of this is I suppose my point. And most certainly I am happy that you agree, that of course we are not all doomed, the situation is just what it is, let’s deal with that.

Journalists and blog commentators et al, they are in competition with each other remember. They couldn’t spot the great crash coming when it was in front of their noses, and now they want to expostulate on a hundred different panic scenarios every day – just to get read.

They give a damn about the effect, to them it is just fish and chip paper (or whatever the Internet equivalents is) tomorrow.

Merkel, Sarkosy, the Greeks, the Italians are all facing up to some pretty tough, very real challenges and quite possibly are doing a good job handling them, it doesn’t get sorted over night, and there doesn’t look to be a radical, wave a wand solution, no matter how much the likes of David Cameron who has his own mess to sort would like to pretend that there should be.

I mean Cameron, really, talk about getting to grips with things – come on? Truth be told, I am rather impressed with the way that Merkel and Sarkosy have handled themselves thus far. And how straightforward and matter of fact they have been with the reality of the situation.

It is going to take time, and things will be fine.

But yes, Peterhun is right, people will lose their jobs, companies will close, these are terrible times, but the disappearance of the Euro, a two tier Euro – it is not even close, not remotely close. And I feel for Peterhun when he refers to employees lose their jobs, I have seen the situation many times over, over the past several years and will do so again shortly if this boat does not right itself.

Which is my point it is very real this stuff, it is bloody painful and desperate, but again folks – the Euro goes nowhere, in fact eventually benefits is my sure bet.