Another fallacy is that Greece withdrawing from the Euro is a major calamity. No, it's a blessing to the Eurozone, and short term calamity for Greece.
I miss those drachma they remind me of Malia plus you got 500 to the quid, much better than the euro exchange (I'm applying to become a financial consultant to the European parliament
Well, not really. They are worried about contagion within the Eurozone, first Greece, then Spain, Italy and heaven forbid - France. Basically a sizeable portion of the Eurozone banks are insolvent. Once these 3 year interest free Euro loans (issued just before Crimbo 2011) are due, unless the banks have some new-found liquidity, then we're screwed again. And if Greece defaults, then Spain etc then our banks are screwed too, meaning we'll be fked. Apart from that, it's fine.
Nope. You seem to be thinking that the Euro is something other than a deutschmark. It's a failed political experiment. Greece, Spain and Italy will pull out of the Euro. France will probably suck up Germany's arse till the bitter end of the Euro (Stockholm Syndrome). The Euro is finished and that is no bad thing.
No, I'm under no illusions. Contagion where banks refuse to lend to other countries or themselves will lead to a definite default. The Eurozone was under severe stress at the end of 2011 and the ECB had to lend it's banks hundreds of trillions of € or those banks would have became insolvent as the big money markets in the US were refusing to deal with Banks in the Eurozone. Had those countries and banks failed then the UK, whose Banks make up more a % of GDP than any other country in Europe, we will be in the ****e. Put it this way, if the Euro fails and it's indebted members default on loans to be repaid to banks, and as such, makes those banks fail, then the UK would become the most indebted country in the world, even more than the USA and it's $16trn debt. We live in dangerous times Gambol. Anyway, home time xx
Depends how much you paid for it. It may open doors for you. I got mine from the University of Kinshasa in Tottenham High Road (above the Fantasy Kebab Parlour) and it's never let me down.
