If € € collapse if Ireland, Spain and Greece offers?
If Ireland has withdrawn from the €, you know what would happen to euro bank deposit in Ireland, in minutes, hours, days? Presumably, they would lose much of its value. So if a company has money to deposite it would be better to buy disinvestments in other currencies, securities, etc.? And will be even more loans in euros, the Icelandic government loans are repaid in euros, if that is the case. If 1 € = IR £ 2, which could make the market, how can they pay their mortgage? Can you give me websites etc where I get information about all this because I can not find any decent. And I think it will happen
Crisis marked a new geopolitical OrdnungVon Philip Stephens Published: October 9, 2008 19:32 | Last updated: October 9, 2008 7:32 p.m. Blame greedy bankers. Blame poor management of the Alan Greenspan Fed. Blame feckless homeowners who took out loans they never expect to repay. Blame politicians and regulators around the eyes at the approach of choice Sturm.Editor of their opinion on this article – Jun-23More from this columnist – Aug-23All above are guilty. I’m sure there are more villains lurking. But sometimes it is useful to the other end of the telescope. The wreckage of the financial system holds up a mirror to change the geopolitical balance. It offers advice and a warning, like what the West needs the new world order was machen.Bis recently, the debate on lowering the American laissez-faire capitalism. The Government of the United States was 700 billion bailout, the price of arrogance are paid last. For reasons that seemed to protect me one or two European politicians in the throes of an ally that still guarantees their security begeistern.Schadenfreude comes before a fall. Solid, conservative Germany has forced the European nations, their banks banks. Angela Merkel, the chancellor was driven assure German voters publicly that their savings sind.Belgien safe and the Netherlands have rescued Fortis. Ireland and Greece have issued blanket guarantees depositors. Others have done something similar. Most dramatically Gordon Brown government has nationalized part of all of its leading banks in a desperate attempt to knacken.Wenn ice from the credit crisis, the toxic mortgage securities and opaque credit swaps has infected the global financial system came with a made-in-the United States stamps that buyers were European banks, eager. For the humiliation of America, we must substitute the humiliation of Westens.Asien that we are perceived in the markets this week, is not immune to shocks and stresses. Japan, which recently emerged from the shadows along the collapse of the 1990s the bank was hit by the global storm. China was forced this week to follow western central banks cut interest rates. It is also a large number of smaller Asian countries. The recession in the U.S. and Europe will slow the growth of emerging economies Asiens.Ruecken, however, two things mark out this crisis unique. First, it is pure ferocity. I do not know how useful it is to make comparisons with the 1930. History never travels in a straight line. What is clear is that governments and central banks have no experience to cope with shocks and stresses of the intensity and ubiquity, we saw the final difference haben.Der second year is one of geography . For the first time in the West was the epicenter. Viewed from Washington, London or Paris, financial crises used to what happened to someone else – to Latin America, Asia, sometimes Russland.Die shockwaves around the West Bank, generally in the form of demands that rich countries for their negligence to save banks. But these crises drew a line between North and South, between developed and developing countries. Emerging markets got into a mess; West told them strictly what they have to come from him heraus.Die instructions in the form of a well-named Washington consensus: the painful measures including the liberalization of market and fiscal consolidation, as the price of financial support from the International Monetary Fund eingeführt.Diesmal the crisis on Wall Street has begun, sparked by the sharp fall in U.S. housing prices. Emerging markets have not been the victim as the culprit. And the reason for this reversal of roles? They had enough speisten.Vor of Western medicine, said a decade after the 1997-98 crisis wreaking havoc on some of its most exciting economies in Asia again. He would not beg, when things get tough. To avoid ruinous rules of the IMF, the governments of their own defense mechanisms against adversity by accumulating reserves would be Währung.Diese foreign reserves – over $ 4000 billion in today’s account- – credit financed the United States and Europe. There were other sources of liquidity, of course, accumulated especially the Fed and the reserves of energy producers. It also took financial chicanery to turn reckless mortgage securities Noted in triplicate. But a Chinese official as my colleague David Pilling the other day, the FT said. “America drowned itself in Asian liquidity” Owning the geopolitical implications will be as painful for the rich countries that pay the domestic price of debauchery. The erosion of moral authority in the West that began with the war in Iraq has been greatly accelerated. The debtor West can no longer expect their creditors to listen t