For whatever it is worth

[bakubo]

Also, the IMF is in there somewhere giving money in some form. I saw this recently:

US Exposure to EU Bailout Is Big But Risk Is Limited

http://www.cnbc.com/id/37084075

[peterottaway]

I think the headlines " Beware of Greeks bearing Debts " has lost some of its immediate pulling power and the financial speculators shorting the Euro and European stocks have made their money on their positions in the market. The real killings are made by those first in, now they are having to compete with everyone down to the mom and pop day traders.

Given what has happened in Thailand today I think the next play will be suggestions being floated about a re-run of the 1997 South East Asian Debt Crisis which started of course with doubts about Thailand. And of course if that doesn't fly they can try the double act of problems in Latin America and moving on to Portugal/Spain in Europe.

[pakodominguez]

That's a misconception.
Germany is the richest economy within the EU, but the exchange with the "poorest" countries like Greece, Spain or Portugal is huge, and Germany need them too in order to keep growing. They are not giving away that money. They are investing in their future (and having more power than they expected in Greece)

It's only an investment if you can get a return on it. Otherwise, it's forced charity. When the poorer countries go bankrupt, all those Euros aren't going to get repaid.

Dusty

Greece is not a poor country. Nor Spain or Portugal. Greece is far from been in default, like Argentina some years ago. they are "just" far from what what they agreed to be as a EU member

[David Kilpatrick]

If the second volcano does fire up in Iceland, and air travel does once again become almost impossible to sustain, the Mediterranean countries will see an interesting return to prosperity for shipping-based economies. Berwick-on-Tweed was once the second most important port in Britain, after London. I think we need to strike a deal to have olives, pasta, pizza, wine, oil, oranges, apricots, lemons and similar Mediterranean produce delivered direct in return for shipments of jeely pieces, haggis, stotties, Hawick Balls, Newcastle Brown Ale and Irn Bru.

David

[Javelin]

if the air is so clogged with ash that they need to start shipping by sea again then none of those fruits will be able to be grown there.

[bakubo]

Of course, this is all off-topic, but here is something I saw this morning about the euro.

Whatever Germany does, the euro as we know it is dead

http://www.telegraph.co.uk/finance/comm ... -dead.html

[David Kilpatrick]

My Alamy shot for the death of Euro, posted up at the beginning of the year and sold as Rights Protected, has yet to find a use:



I'm surprised. I emailed the reference to one magazine after posting it, not even a reply from the picture desk. If I had done this shot in the same way back when I set out as a freelance, I'd have had someone on the line within minutes and probably a commission.

David

[sury]

Could it be that they thought too much of doomsday scenario when you sent it?
Greece crisis was just bubbling up and others haven't popped up yet as crisis though the indications were there all over the map. You were ahead of times.

Sury

[Dusty]

I think the next question is: Does the Euro really die - and the ensuing economic chaos occur, or do the EU states give up their sovereignty to a Continental Government that will save them from it?

Dusty