Kupa
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Post by Kupa on Apr 4, 2015 5:34:06 GMT 7
If and when Greece gets kicked out of the Euro zone, which way will the Euro go against the US dollar?
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The Arrow
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Post by The Arrow on Apr 4, 2015 5:41:20 GMT 7
Depends on whether it takes down any European banks I suppose and starts a contagion of member states exiting.
I honestly can't see the EU project lasting much longer.
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SirToad
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Post by SirToad on Apr 4, 2015 8:03:00 GMT 7
Bringing in basket case economies like Greece, Italy Et al has killed the Euro. The expansion of the EC with other countries like Romania etc will kill the concept totally
Not a financial person, but would imagine that the Dillar is only going to get stronger against the Euro, until the Euro totally collapses
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ATF
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Post by ATF on Apr 4, 2015 8:27:54 GMT 7
It could go either way. I expect initially there would be a sharp drop in the EUR as a knee jerk reaction but that would be a good buying opportunity because the market will realise that the Eurozone has got a monkey off it's back. It will be disastrous for Greece and the banks and investors that have bought Greek Bonds. The biggest worry was contagion to other countries but most of the PIIGS are getting back on track now. My biggest concern is the S&P 500 that is way over bought and the only thing keeping it up is constant day trading on high margin. A sharp drop will trigger loads of stops and blow marigins.
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ATF
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Post by ATF on Apr 6, 2015 18:08:43 GMT 7
I understand Greece has until Thursday to pay the IMF 500M USD or EUR whatever it is, don't look like they're gonna make it. More twaddle from the Greeks again.
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SirToad
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Post by SirToad on Apr 6, 2015 19:06:38 GMT 7
Maybe Costas will,save the day, he's milked the EU well
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ATF
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Post by ATF on Apr 6, 2015 19:28:09 GMT 7
Maybe Costas will,save the day, he's milked the EU well Costas is part of the problem. Greece has a lot of milkers.
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SirToad
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Post by SirToad on Apr 6, 2015 19:28:58 GMT 7
, he is The Great Milker of Isan
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ATF
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Post by ATF on Apr 6, 2015 19:35:49 GMT 7
, he is The Great Milker of Isan He won't be for long when Greece can't afford to pay pensions and they are kicked out of the EUR. It'll badger cheese for Costas.
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SirToad
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Post by SirToad on Apr 6, 2015 19:37:37 GMT 7
Or Ant cheese?
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oilinki
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Post by oilinki on Apr 6, 2015 20:55:31 GMT 7
Could Greece Italy and Spain be in similar relationship to Euro like Ecuador, Cambodia etc. similar countries are to USD? Those countries could use the Euro as their own currency, but would have no other relationship to it. They would not be included when making financial decisions.
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Post by paddyjenkins on Apr 6, 2015 21:26:09 GMT 7
It could go either way. I expect initially there would be a sharp drop in the EUR as a knee jerk reaction but that would be a good buying opportunity because the market will realise that the Eurozone has got a monkey off it's back. It will be disastrous for Greece and the banks and investors that have bought Greek Bonds. The biggest worry was contagion to other countries but most of the PIIGS are getting back on track now. My biggest concern is the S&P 500 that is way over bought and the only thing keeping it up is constant day trading on high margin. A sharp drop will trigger loads of stops and blow marigins.
If it wasn't for Russia I would agree. But what if after a GREXIT Russia funds Greece in exchange for a military base there, etc? Cyprus already did a somewhat similar thing on a small scale. Could GREXIT be the start of WW3?
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Post by streetcowboy on Apr 6, 2015 21:37:02 GMT 7
Could Greece Italy and Spain be in similar relationship to Euro like Ecuador, Cambodia etc. similar countries are to USD? Those countries could use the Euro as their own currency, but would have no other relationship to it. They would not be included when making financial decisions. I doubt they'll have much choice. German tourists aren't going to buy drachmas, or tap washers, or whatever Greece decides to use for currency, and European firms won't accept payment in said currency, so Greek firms will be happy to sell in Euros.
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ATF
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Post by ATF on Apr 7, 2015 0:13:00 GMT 7
There is some confusion here Greece getting kicked out of the EU that isn't on the cards and it's definitely something Greece couldn't handle or want. The issue at stake is whether Greece will be allowed to continue to use the EUR as currency which is looking more likely that it won't be able to by the day.
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Post by streetcowboy on Apr 7, 2015 4:59:42 GMT 7
There is some confusion here Greece getting kicked out of the EU that isn't on the cards and it's definitely something Greece couldn't handle or want. The issue at stake is whether Greece will be allowed to continue to use the EUR as currency which is looking more likely that it won't be able to by the day. How will they stop Greece using the Euro? I use Euros, and I defy anyone in the Eurozone from stopping me. As posted above, everyone in Greece will continue using the Euro, except perhaps for the government, who may use tap washers or cowrie shells, but whatever real economy remains will use the Euro. In or out of the Euro, how will Greece's creditors enforce their collection? Who will be the bailiffs? If they cannot enforce the debt, then what benefit will pushing them into the informal Euro zone have? SC
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