Financial crisis (in Europe)

[Handoyo]

And now the spread between Germany's and France's debt is widening. This will be a slow and painful death. I kinda prefer the Lehmann shit when it was unexpected but at least happen in an instant. We keep getting false hope day after day after day.

 

[Ezio]

In Bulgaria the situation too is not pretty but at least we are not like Greece

 

[CafeCordoba]

Nine Euro Nations’ Ratings Cut, Seven Affirmed by S&P

http://www.bloomberg.com/news/2012-...-from-s-p-afp-says-citing-state-official.html

Shit is going to hit the fan during this year, it is really starting to look like that. The negotiations for Greece's debt restructuring have stalled with the creditors.

The ponzi will fucking COLLAPSE.

 

[Pimpin]

okerface:

 

[jmaster]

Europe put Greece on eBay.

Not that funny, just though it would fit.

 

[sanka]

It s quite tragic to be so humiliated cause of fail politicians we had.

 

[Handoyo]

 

[Macktk]

Shit, it's going to be a long fuck'n year.

They keep on arguing and fighting and arguing and fighting until one day they wake up and find out that whatever remaining confidence investors had in the economies has completely diminished. Only then do they start to take some action.

 

[snake]

Guys, want to ask an honest question...

I'm thinking of spending a year working in either Europe, Asia or North America. I'd prefer Europe...my company has 70,000 people across the world with the majority in Europe, so it won't be hard to get in to say work in London or Paris.

But...with all the shit that's going on...is it really worth it? How are the liveability standards in Europe...are jobs secure?

 

[Kato]

it's honestly not that bad in the UK at least. If you could get a job through your company I couldn't see a problem. The only issue in the UK seems to be for unskilled people searching for your average retail or restaurant job.

Prices haven't changed so much either, nothing compared to Italy/Greece etc

 

[Macktk]

Well, if it's only a year and then you'll be back to Australia, I don't think job security will be much of an issue, right??

Anyways, The U.K is dipping in 2012 and of course Europe's crisis will reach its peak this year. I guess North America would be a better option since it's fairing better than Europe. Asia is good as well (ex Japan) but there's the language barrier and culture shock to consider.

I don't know much about price levels, but my guess is that prices are as high in Europe and North America as it is in Australia, so you won't feel much of a difference.

 

[Macktk]

Brace yourselves, complete economic meltdown in a couple of months.

 

[Kakaroto]

I gotta say I feel enlightened by this discussion. I wasn't paying much attention to what is going on in Europe but I feel like I got a pretty good Idea now.

One comment I do want to make is.... Its really sad to see people suffer because they were falsely lead to a trap.

 

[Handoyo]

Get your asses back on track you damn Europeans. Our currency and stock market deteriorate every time you guys fucked up.

:frustrat::fero::irritate:

kay:

 

[I4E]

^ blame the PIGS ! Portugal Italy Greece Spain

 

[Handoyo]

^ blame the PIGS ! Portugal Italy Greece Spain

As a fellow commodity exporter, you should join me in roasting them pigs :devil:

 

[Minardista]

I can't take the UK's "Double Dip" Recession seriously, because it sounds like a flavour of Ben & Jerry's Ice Cream.

I'm very lucky, at only 20 I already have a very well paid summer job with the government that earns me as much in 3 months as a standard part-time retail job would in the other 9 months of the year. If I hadn't got this job two years in a row I would be in all sorts of problems financially...

Also, if Scotland becomes independent in the year 2015 we'll leave England in our dust, adopt the Scandinavian method of governing and become a far better nation than under Westminster's rule. So don't blame us Scots for the EU's problems, we're shackled by the numpties at Westminster right now.

 

[Mad Biscione]

Crisis doesnt concern me much if anything things around got much better in recent years, its probably cos we dont have euro though who knows the shitstorm may still come :milkrageface:

 

[Macktk]

^Greece has a big chunk of debt repayments that it will have to pay in August and the only way it can do that is through funds provided by the EU. However this is subject to Greeks forming a government that will accept the austerity measures required by the EU countries and Germany (btw the country grew by 0.5% Q on Q, which is much higher than expected) in specific, something that will probably not going to happen. So, in that case Greece WILL exit, shift back to Drachma and start the printing press. When this happens, investors will run for the hills and all confidence in Greece and the Euro Zone will be lost. Next, attention will turn to Spain and Italy, and when this happens...... I'm gonna make some popcorn. But my guess is that Poland has strong ties with the Euro Zone economy. If this is true, it won't be fun for you guys

Question is, what will be the net effect on the US?

@kostas, are you sure it's in Scotland's favor to leave the UK?? I remember I read somewhere that oil reserves in Scotland is diminishing and I think taxes from hydrocarbons would form an important source of revenue for Scotland.

 

[Mad Biscione]

Im noob in economy and stuff but a few days ago European COmmission or some other Institute of financial sorcery was saying Poland will have the highest GPD in EU 2,6 I believe, also Latvia and Lithuania above 2,0 both are about to sell their souls to Euro :chan:

so how does this crisis imapact average Joe in EU other than hearing about it on tv all the time?