Stappen de Duitsers uit de Euro?

He eindelijk weer eens een nieuwtje te berichten gezien dit artikel in Bild.de waarin de beruchte Bilderberg bijeenkomst breed uitgemeten wordt,

Op zich opmerkelijk gezien hiermee blijkbaar is gebroken met een traditionele soort media stilte rondom de Bilderberg bijeenkomsten. De Bilderbergconferentie van 2010 zal plaatsvinden in de Spaanse badplaats Sitges.

De vraag wordt gesteld of de Bilderberg bobo's de EURO AM WOCHENENDE nog uit de put zullen halen, uit een recente enquête was al gebleken dat inmiddels 64% vd Duitsers terug naar de DM willen.

Geef ze eens ongelijk en wens ik de Bilderbergers nog veel success met het redden vd Euro !



BILDERBERG-TREFFEN
Geheim-Gipfel zur Eurokrise!

Der Geheim-Gipfel mit hochrangigen Persönlichkeiten, unter anderem aus Politik und Wirtschaft, heißt offiziell Bilderberg-Treffen. Bilderberg?
Es ist so etwas wie eine geheime Weltregierung, munkelt man. An diesem Wochenende trifft man sich im spanischen Sitges.
Das Gelände rund um das Dolce Hotel ist abgeriegelt. Rund 350 Polizisten halten Demonstranten und neugierige Besucher fern. Ihre Sorge: Militante Globalisierungsgegner wollen gegen das Treffen protestieren.
Nur so viel ist bisher durchgesickert: 130 führende Köpfe aus Wirtschaft, Politik, Medien, Militär und Hochschulen werden über die dringenden Themen der Welt sprechen.
Wer genau dem illustren Kreis beiwohnt... geheim!
Spekuliert wird: Große Bankhäuser (Goldman Sachs, Deutsche Bank) sind vertreten. Eine Euro-Diskussion liegt daher mehr als nahe.
Was über die Konferenz bekannt werden soll, wird veröffentlicht. Der Rest bleibt geheim.
Die illustre Liste der ehemaligen Bilderberg-Teilnehmer ist lang. Bundeskanzlerin Angela Merkel (CDU), Guido Westerwelle (FDP), Helmut Schmidt und führende Wirtschaftsbosse wie Jürgen Schrempp (Daimler) und Deutsche Bank-Chef Josef Ackermann.
1954 wurde das jährliche Zusammenkommen ins Leben gerufen. Urheber: Prinz Bernhard der Niederlande. Erster Tagungsort: Hotel Bilderberg in Oosterbeek.
Eine feste Organisationsstruktur gibt es nicht, keine Mitgliederliste, keine Gründungsurkunde. Es gibt einen Vorstand und einen Lenkungsausschuss, der die Teilnehmer eines jeden Treffens auswählt.
Übrigens: Der Euro ist am Freitag unter die Marke von 1,21 Dollar gefallen.
Die europäische Gemeinschaftswährung war zwischenzeitlich nur noch 1,2038 Dollar wert und damit so wenig wie seit über vier Jahren nicht mehr.
Jetzt schaltet sich Bilderberg ein. Retten SIE am Wochenende den Euro?


Bron: Bild.de

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Op dinsdag 8 juni 2010 02:56 schreef HiZ het volgende:
Mijn God, wat een belachelijk topic weer. Het land dat het meest heeft geprofiteerd van de euro zou er uitstappen? Alsof de Duitsers zo blij moeten zijn met een situatie waarin de munten van z'n grootste export-partners dalen waardoor hun export steeds duurder en moeilijker wordt.

Het idee dat de Duitse staatsschuld als een soort default kan worden omgezet in minder waardevolle 'buitenlandse' munten is ook iets wat me doet schuddebuiken.

Overigens, dat verhaal over die serie-nummers hoort in het soort onzinverhalen dat je als sinds 2002 in de britse pers leest.

Wat dacht je van een ingezonden brief richting Bild.de in plaats van hier de boel onder te kotsen? Mag je zo meteen wel even opruimen trouwens.

Die D-Mark ist wieder da!



bron: bild.de

(Bitte auch die Niederlandische Gulden wieder da)

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Op zaterdag 12 juni 2010 15:05 schreef HiZ het volgende:
Zucht, een of andere gimmick van een website en 'Die D-Mark ist wieder da'. Dat de euro ondertussen aanzienlijk harder is geweest dan de D-mark ooit was wordt voor het gemak maar genegeerd.

De euro staat op het punt in te storten man, of lees je nooit n krant?

[ Bericht 0% gewijzigd door mediacurator op 12-06-2010 16:28:09 ]

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Op zaterdag 12 juni 2010 17:34 schreef HiZ het volgende:

[..]

De euro staat helemaal niet op instorten.

Euro 'will be dead in five years'

The euro will have broken up before the end of this Parliamentary term, according to the bulk of economists taking part in a wide-ranging economic survey for The Sunday Telegraph.



The single currency is in its death throes and may not survive in its current membership for a week, let alone the next five years, according to a selection of responses to the survey – the first major wide-ranging litmus test of economic opinion in the City since the election. The findings underline suspicions that the new Chancellor, George Osborne, will have to firefight a full-blown crisis in Britain's biggest trading partner in his first years in office.
Of the 25 leading City economists who took part in the Telegraph survey, 12 predicted that the euro would not survive in its current form this Parliamentary term, compared with eight who suspected it would. Five declared themselves undecided. The finding is only one of a number of remarkable conclusions, including that:

• The economy will grow by well over a percentage point less next year than the Budget predicted in March.
• The Government will borrow almost £10bn less next year than the Treasury previously forecast, despite this weaker growth.
• Just as many economists think the Bank of England will not raise rates until 2012 or later as think it will lift borrowing costs this year.
But the conclusion on the euro is perhaps the most remarkable finding. A year ago or less, few within the City would have confidently predicted the currency's demise. But the travails of Greece, Spain and Portugal in recent weeks, plus German Chancellor Angela Merkel's acknowledgement that the currency is facing an "existential crisis", have radically shifted opinion.

Two of the eight experts who predicted that the currency would survive said it would do so only at the cost of seeing at least one of its members default on its sovereign debt. Andrew Lilico, chief economist at think tank Policy Exchange, said there was "nearly zero chance" of the euro surviving with its current membership, adding: "Greece will certainly default on its debts, and it is an open question whether Greece will experience some form of revolution or coup – I'd put the likelihood of that over the next five years as around one in four."
Douglas McWilliams of the Centre for Economics and Business Research said the single currency "may not even survive the next week", while David Blanchflower, professor at Dartmouth College and former Bank of England policymaker, added: "The political implications [of euro disintegration] are likely to be far-reaching – Germans are opposed to paying for others and may well quit."
Four of the economists said that despite the wider suspicion that Greece or some of the weaker economies may be forced out of the currency, the most likely country to leave would be Germany.
Peter Warburton of consultancy Economic Perspectives said: "Possibly Germany will leave. Possibly other central and eastern European countries – plus Denmark – will have joined. Possibly, there will be a multi-tier membership of the EU and a mechanism for entering and leaving the single currency. I think the project will survive, but not in its current form."
Tim Congdon of International Monetary Research said: "The eurozone will lose three or four members e_SEnDGreece, Portugal, maybe Ireland e_SEnD and could break up altogether because of the growing friction between France and Germany."
The recent worries about the euro's fate followed the creation last month of a $1 trillion (£691bn) bail-out fund to prevent future collapses. Although the fund boosted confidence initially, investors abandoned the euro after politicians showed reluctance to support it wholeheartedly.

bron: telegraph.co.uk

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Op zaterdag 12 juni 2010 17:41 schreef du_ke het volgende:

[..]

Nonsens

Europese leiders zoeken oplossing voor euro-crisis

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Op zaterdag 12 juni 2010 17:38 schreef Oksel het volgende:
Wat een bullshit.

en jij kan ook wel wat educatie gebruiken

2010 European sovereign debt crisis

bron: wiki

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Op zaterdag 12 juni 2010 20:14 schreef HiZ het volgende:

[..]

Goh, de Telegraph die een stukje euro-optimisme vertoont ten opzichte van de normale houding. De euro staat niet op instorten maar heeft nog vijf hele jaren te gaan

Je weet je bronnen wel te zoeken. Kun je er ook nog eentje vinden voor 'Turkies for Christmas" ?

Jij bent typisch zo iemand die de hele avond 06 nummer reclames kijkt en dan klaagt over te veel blote vrouwen op TV, echt zinloze soort mensen zijn dat

quote:

Op zondag 13 juni 2010 11:13 schreef Nieuwschierig het volgende:
Sorry maar ik gooi dit topic nu uit m'n MYAT

ik ook! dit topic is niet MYAT waardig!

Eurozone faces imminent meltdown, reports Telegraph

Spain plays high-stakes poker game with Germany as borrowing costs surge


Jobseekers line up at an employment office in Madrid, Spain.

"We're not afraid of transparency," said the Spanish Banking Association (AEB), saying the full truth would put an end to rumours battering Spain's instutitions. El Pais reported that the government backs the initiative, putting it on a collision course with Germany which insists on secrecy.

Josef Ackermann, head of Deutsche Bank, warned last week that it would be "very dangerous" to publish the results of each bank, fearing that it would trigger flight from weak lenders and set off a chain reaction.

The Spanish authorities have little to lose by publishing the data given the near paralysis in the country's debt markets. Funding is frozen for much of the private sector.

Spain was pummeled yet again on Tuesday as credit default swaps (CDS) measuring bond risk on Spanish debt jumped to 245 basis points, approaching an all-time high.

Default insurance for Greece rocketed after Moody's downgraded it to junk on Monday, forcing bond indexes to sell up to ¤20bn of Greek debt. Ireland and Portugal also jumped sharply, with mounting credit stress in Belgium following the electoral triumph of Flemish separatists.

An auction of Spanish debt yesterday underlined how fast the situation is deteriorating. Yields on one-year debt reached 2.45pc compared to 0.9pc as recently as April, suggesting that the markets do not view the EU's ¤750bn rescue shield as credible.

Francisco Gonzalez, chairman of BBVA, stunned investors earlier this week by admitting that "the majority of the Spanish companies and financial groups are shut out of the international capital markets".
He said the country's external debt had reached ¤1.5 trillion or 147pc of GDP, much of it on short-term maturities. "This debt has become our most overwhelming problem, since ¤600bn falls due this year," he said.

Analysts say the call for release of the stress test results is a veiled attack on Germany, retaliation for German media reports – fed by sources in Berlin – claiming that Spain is about to tap the EU's bail-out fund.

Spain's two heavyweights, Santander and BBVA, are well capitalised, though there are concerns that Spain's accounting rules mask the full horror of bad debts in the property sector. The problem lies with savings banks or cajas that are not part of the EU test. These are being kept afloat by the European Central Bank, with loans equal to 20pc of their balance sheets.

By contrast, some German banks may look very ugly. An internal memo last year by the regulator BaFin feared that write-offs might reach ¤800bn. German banks have accumulated a double set of loses from both US subprime and the Club Med debt crisis. They have the lowest risk-adjusted capital ratios in the world after Japan and have not exploited the global rally to rebuild their base.

Jose Garcia Zarate, credit strategist at 4cast, said Madrid is powerless at this stage. "There is absolutely nothing the Spanish government can do to get their message through. They have lost all market credibility and nobody is listening to them any longer," he said.

Mr Garcia said the country is in a "Catch-22" situation. Madrid has slashed public wages by 5pc this year in a show of discipline, only to find that the markets have now moved the goal posts and fear austerity will choke recovery.

"My view is that it would be suicidal for Madrid to use the rescue fund. The moment they pick up the phone and start talking about this, it is the end of any remaining hope for the single currency. Spain's government just has to put on a brave face, pay the higher yields, and hope for the best," he said.

[ Bericht 0% gewijzigd door mediacurator op 17-06-2010 18:01:52 ]

Germany Austerity Deal Trying To Save Itself



German Chancellor Angela Merkel's coalition government has taken another hit and some fear it may not last until the end of its term. This follows protests against a proposed hundred billion dollar austerity package. Leaders are dealing with the fallout over the bailout for Greece and an even larger package to rescue the single currency.

Spaanse economie = exit? Spaanse regering plunderen de pensioen fondsen in een poging de obligatie markt overeind te houden.

Spain uses social security fund to prop up the bond market

By Ambrose Evans-Pritchard Economics Last updated: August 24th, 2010
176 Comments Comment on this article

Spain is putting all its eggs into one basket, and if it carries on like this, we may start to see a lot of Basques and Catalans crowding into one exit.

The state pension fund – the ¤64bn Fondo de Reserva, known as the ‘hucha de las pensiones‘ – is buying Spanish sovereign debt at a vertiginous pace.

The financial daily Cinco Dias reports that the share of the Fondo’s total portfolio invested in Spanish government bonds rose from below 50pc in 2007 to 76pc in 2009.

The Social Security minister Octavio Granado said it will rise to 90pc by the end of this year.
It is clear from an analysis of the data that the Fondo is not just investing fresh revenues in Spanish bonds, but also rotating out of Dutch, French, and German bonds into Spanish debt. The Spanish government is also funnelling 90pc of its sickness fund into state bonds.

Evidently, Spanish savers are underpinning Madrid’s Treasury auctions, whether they like or not. It is they who are mopping up the debt along with the European Central Bank as foreign creditors stay away. The Bank of New York Mellon said that its iFlow data on bonds reveal that foreign demand for Spanish debt has “dried up” again after a brief recovery in July. There has also been some “net selling” of French bonds. I think we will hear more of that Gallic sub-plot over the next year.

Here is a link to the last annual report of the Cortes Generales, packed with detail, including this chart:



Sr Granado said the sole motive for the purchases is to reap a higher yield. Spanish 10-year bonds were trading yesterday at 173 basis points over German Bunds. But there again, spreads on Greek bonds were at 853 points, so if yield is what you want – and if you believe EU assertions that default/EMU exit by any eurozone member is preposterous – then why not buy Greek debt? Unless, unless, but let’s not labour the point.

I am grateful to the splendid Edward Hugh at A Fistful of Euros for bringing this to my attention. Dr Hugh lives in Barcelona and is highly valued by the Spanish media as one of the few analysts who saw the whole disaster coming, and why it was coming – namely the perverse mechanisms of EMU on a peripheral economy in a catch-up-phase with a higher growth rate than Carolingia, and therefore a need for a higher interest regime (ceteris paribus) during the boom.

http://blogs.telegraph.co(...)-up-the-bond-market/