Ten days to save the Eurozone?


Or make that eight days since Wolfgang Munchau’s column over at the financial times (had the page up before but now it’s behind a paywall so here’s a Hot Air link) was written on the 27th.

Who knows but really when it will actually happen? Or if. You read comments on these financial articles and everybody seems to have an opinion on when or if the Euro will collapse and/or how to fix it.

And as for that 10 days stuff, we were told 10 days back in October, and even as far back as June.

All I know is that if it does collapse, the Gillard government will blame Tony Abbott and use it as an excuse for yet another billion-dollar budget blowout.

UPDATE (via JM)

What? Socialists rioting because they’ve run out of other people’s money?

As the Italian government struggled to borrow and Spain considered seeking an international bail-out, British ministers privately warned that the break-up of the euro, once almost unthinkable, is now increasingly plausible.

Diplomats are preparing to help Britons abroad through a banking collapse and even riots arising from the debt crisis.

The Treasury confirmed earlier this month that contingency planning for a collapse is now under way.

A senior minister has now revealed the extent of the Government’s concern, saying that Britain is now planning on the basis that a euro collapse is now just a matter of time.

And…

Europe’s monetary union may unravel sooner than the region’s leaders can mobilize to ensure the sovereign-debt crisis doesn’t overwhelm the currency, a UBS AG (UBSN) foreign exchange strategist wrote.

“Financial markets continue to move faster than politicians,” Mansoor Mohi-uddin, head of foreign exchange strategy for UBS, wrote in today’s note. Markets are starting to “price in the endgame” for the currency, he said.

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  1. Hi,
    But isn’t Australia going to save Europe? I heard that the PM was thinking about giving them some of our hard earned money, which of course the Government would have to borrow.
    How much debt is enough for Governments around the world, they are still talking Billions for “clean energy” I tell you the world has gone mad.

    • No worries. The UN, remember, wants $76 trillion to save the planet.

  2. Merkel is doing what Hitler could not. If she holds it together, Europe will be united – willingly – for only the second time in history. But I doubt she can. The socialistic forces in the Balkans and Iberia are too strong. The children want their wants when they want them.

    And if Merkel was smart, she would have cut the ties a long time ago. Better to save her country than to go down with the ship.

    • You refer to WWWIII, no? Fought on economic lines this time…

        • Winston Smith
        • November 30th, 2011

        WW3 was fought 1945 to 1989.
        WW4 is currently underway and started with the Beirut Marine Barracks bombing in 1983. It will end in a world wide civil war starting in Europe as it slides into bankruptcy and people blame Islam for invading and wrecking their economies.

        I realise it sounds loopy, but so did WW2 in 1938.

          • Winston Smith
          • December 2nd, 2011

          Honest opinion required, Bingbing – this is the third time I’ve posted this idea on several forum. Each time the column comes to a screeching halt.
          So – is it too far out there? Am I mad? Should I be wearing purple robes and awaiting the Mothership? Increasing my medications?
          …just curious.

            • Carpe Jugulum
            • December 2nd, 2011

            “Should I be wearing purple robes”

            They can be quite fetching with the right shoes, Say purple robes with a nice black brogue lace upwould work

          • Not mad. Just a bit too specific, and too traditional implying the old concept of “war” being all about guns and soldiers… WWI, WWII, the Korean War, the Vietman War, the Iraq War 1.0 + 2.0 etc etc…

            Since whenever, we’ve always been in a constant war.

            Sometimes it’s guns in the “traditional” sense, sometimes it’s money.

            Sometimes it’s ideology (read: socialism and Islam)

            These are not factors that should really be separated.

            Australia is like an Irish immigrant during the US Civil War: we’re fighting on both sides and despite our preconceptions, are bloody lucky that we’re, in reality, too insignificant or else we’d be in even worse trouble from illegal Islamic immigration (look at Europe, add our boat people policy, that Somali bloke today wanting a separate legal system for Muslims and do the math) , China’s buying power (our farms, and our farmland being used for coal seam gas to be exported to China) and the current socialisation and (thus) plundering of wealth, individual freedoms and entrepreneurialism (read: MMRT, Racial Vilification Act Section 18C – the one that got Bolt even though what he was essentially calling for was an end of artificial divisions – and the carbon tax).

            From the year dot, we’ve had a bunch of psychopaths running the show, and that isn’t going to change any time soon since the only way to unseat a psychopath is to be more psychopathic.

            They’re always at war “up there” and occasionally it filters “down here”.

            I think it’s for the convenience of history writers that we define things such as WWI and WWII.

            Like as if everything was all sunshine and lollipops before and after… until the next “war”.

            In reality, they were more likely flare ups.

            Instead of someone gently blowing onto it, the fire became too smokey and it made someone cough.

            And then that someone had to add wood, too.

              • Winston Smith
              • December 2nd, 2011

              OK, thanks BB.
              We all need a sanity check every now and then. Especially when the world seems to be going mad…

              • I just revised the comment, so check it out if you can. Basically the same.

              • And you’re welcome.

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