Thursday 16 February 2017

Off With His Euro

As the UK staggers towards one new form of contact with Europe or another there are no certainties only uncertainty. Whatever it is it will not be the same as in the past, because that is over and one of the main problems is that too few recognise it.

This article says the Euro is done for and it is by Tuomas Malinen of Finland a nation which may be first into the boats. It comes from Mish Talk via The Automatic Earth. Also it has turned up in Zero Hedge. It is with a deep sigh I read these articles.

Long long ago I was with some Swiss Bankers who seemed to think that the Euro was the Noble Idea whose day had come. Politely, I expressed the view that there were basic flaws, time would tell and literally don't bank on it.

They took the view I was a relic of the past who had ancient prejudice or too much of the wine we had enjoyed. Especially, my view that when the Euro went down, it could well take the EU with it.

There are reports that Greece is considering the option of moving to the US Dollar for its basic currency. In 1975 when the Onassis family yacht was moored at St. Tropez and hosting one of President Chirac's family there was a group of US Marines in town along with Kirk Douglas.

Buddy can you spare a dime, as the local urchins asked.

1 comment:

  1. I like this comment via your link.

    "Three-legged stool loses one leg. When ‘change’ comes it can come quickly."

    Indeed - change can come very quickly indeed and that's a major risk for the euro and the EU. Always was.