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Will the euro crash in 2011


Devon
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Whatever, all our income comes from France, so we are and will be until we pop our clogs,  tied to the euro or whatever currency France has.

I'm not going to worry about it, why bother, it's only money, I'm not losing sleep over what will be or won't be. If we end up dirt poor, then we'll adjust to our new income, or lack of it[Www].

 

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The EUR was/is a political animal. However even the EUR can't buck the the markets. London trades every day the entire GDP of the entire EURzone.

All my life and saving are in EUR. My job means I look atv the markets every minute. I'm scared. Dexia will go bust this week, and take BNP with it. Can

The Dwarf find 20-30billion? I hope so, but I doubt it, the French deficiet makes the UK look like a breeze.

I'm not sure the politcians have told the people just how serious this is. It really is The End of The World as you know it.
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Oh breizh, is that why sterling shot up to 1.1639 on Friday afternoon, straight after I changed for 1.135 in the morning?

At least we should now have enough to pay all next year's projected bills but, "looking at atv the markets every minute"?

Sooner you than me, breizh.  Looking at it several times a day was bad enough whilst I was dithering about whether to change or not to change[:-))]

The uncertainty of everything has turned me into a "short-term" person and, thankfully, I do believe we have enough food for supper later![:D]

Id, you are sooo right, no point worrying whatsoever.  Bridges are for crossing only when you come to them.

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BNP Paribas share price dropped on Friday by 5.6% on Friday but guess what so did Barclay, Lloyds, HSBC, Bank of America, Deutsche Bank, City Corp, Societe Generale and a shed load of other banks around the world. Actually if you fancy a punt bank shares may now be worth a go. I bought some Barclays shares last Wednesday at 161.25 and sold them on Thursday for 171.60, nice little quick earner so I bought some for on Friday afternoon at 159.65. Hope they will go up on Monday, fingers crossed. Wish I had a degree I might be able to make a lot more but then I don't have much time to sit in front of a PC all day especially with such nice walking weather at the moment.

Was looking a Dexia, wow what a few problems they have. If I was with La Banque Postale I would be a bit worried as they are already in to Dexia for over 3 bn.

I have to go out tomorrow to buy some new Goodrich tyres to fit on my camper van which may have a problem with it's suspension, I was going to post about that in another part of the forum but there are little or no expert's on this matter I fear. [:D]

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[quote user="idun"]

Oh boy, I still have a few hundred euros with the BNP. That is a lot to us.

 

Maybe I'll transfer it to another bank that is iffy, what do you think????? Or maybe I won't.[:D][:D][:D]

 

[/quote]As you are a private saver it should be guaranteed shouldn't it.

 

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Quote;  I bought some for on Friday afternoon at 159.65. Hope they will go up on Monday, fingers crossed.

Did you check that one with Alessio?

Still some french banks are doing worse![:D]

Dexia shares fell by as much as 14% after Moody's announced it was reviewing the Franco-Belgian financial group for a possible downgrade.[:D][:D][:D]

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[quote user="Rabbie"][quote user="idun"]

Oh boy, I still have a few hundred euros with the BNP. That is a lot to us.

 

Maybe I'll transfer it to another bank that is iffy, what do you think????? Or maybe I won't.[:D][:D][:D]

 

[/quote]As you are a private saver it should be guaranteed shouldn't it.

 

[/quote]

The actual guarantee fund would only cover a few thousand account holders; of course if one of the Big Banks failed then the french government would promptly step in and cover the deficit.[:)]

Or would they with their current sovereign debt and deficit problems![:D][:D]

http://www.thejournal.fr/2011/09/what-guarantees-do-french-banks-offer-if-they-fail/

Just thought I would add the URL for the October edition of the main newspaper; I realise that it is Off Topic.

But I do find it assuages the horrors of a morning bout of "cabin fever".[6]

http://issuu.com/amm_france/docs/journal_main_paper_oct_2011/20

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I find it strange that an "expert" says only a few thousand account holders would be covered in respect of a Bank failure, then posts a link to a report that says all accounts would be covered. Make your mind up are you the expert or not? Better stick to Bull fighting mate thats what your good at. Hang on; I think I used the wrong word after Bull, still you know what I mean? [:D]
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[quote user="NickP"]I find it strange that an "expert" says only a few thousand account holders would be covered in respect of a Bank failure, then posts a link to a report that says all accounts would be covered. Make your mind up are you the expert or not? Better stick to Bull fighting mate thats what your good at. Hang on; I think I used the wrong word after Bull, still you know what I mean? [:D][/quote]

I suggest you reread the post but in order to help you navigate your apparent ocular haze.

The actual guarantee fund would only cover a few thousand account holders.....[:-))]

The topic was in fact covered recently in an M6 Capital investigative journalism programme, unfortunately in french, perhaps you overlooked it.[:P]

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"The key point is that thanks to the Fonds de Garantie des DĆ©pĆ“ts ā€“ to which all banks contribute ā€“ each customer is guaranteed protection of ā‚¬100,000, even if the bank were to collapse. This guarantee applies to current accounts and conventional cash savings accounts, such as Livret A accounts."

Your link not mine, it say what it says.

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[quote user="pachapapa"]

The actual guarantee fund would only cover a few thousand account holders.....[:-))]

The topic was in fact covered recently in an M6 Capital investigative journalism programme, unfortunately in french, perhaps you overlooked it.[:P]

[/quote]

The topic is also covered here in greater detail than the local rag, in French or English. [url]http://www.garantiedesdepots.fr/spip/spip.php?article10&lang=fr[/url]

Worthy of bookmarking by any budding expert on money matters.

Well impressed by the appearance of Alessio on the box last night, "If you can't afford the Ā£500,000 house, wait for a recession and when the house price drops by 40% - then make your purchase, that's what I meant by saying I would benefit!"

Sound advice, especially from someone who apparently lives in a Ā£200,000 semi in Bexley Heath, which is in his partners name as the mortgagee!

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[quote user="NickP"]"The key point is that thanks to the Fonds de Garantie des DĆ©pĆ“ts ā€“ to which all banks contribute ā€“ each customer is guaranteed protection of ā‚¬100,000, even if the bank were to collapse. This guarantee applies to current accounts and conventional cash savings accounts, such as Livret A accounts."

Your link not mine, it say what it says.

[/quote]

What do you know Nick, s*d all by the look of things. I mean you can't even read properly according to our resident expert. [:P] I remember a very old phrase something along the lines of " being much of a bull sh*ter myself I enjoy listening to the master of the art, pray continue", might be appropriate I thought. [;-)] You used to be able to get a can of repellant for that sort of thing, difficult to get these days, to small a supply and too big a demand. [:D]

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Any bank guarantee scheme has a pot of ready cash, beyond that it depends on the government to cough up additional cash or create an obligation or say sorry mate we have got bugger all.

But can I leave you three to kick the ball around in the happy belief that if a government says DONT WORRY then there you have it, it's official DONT WORRY.

By the way I am not particularly pro Alessio or indeed contra...just popped his existence into a post...but it does seem to have got you lot hot under the collar,

yours sincerely,

 your on the board dilligent expert adviser.[:P]

P.S. Put your money in a greek bank account, it pays good interest and there is a government backed guarantee scheme.

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[quote user="pachapapa"]

P.S. Put your money in a greek bank account, it pays good interest and there is a government backed guarantee scheme.

[/quote]

Er, Pacha, who's that Greek playwright (somebody whose name ends in ...epides) who wrote those classical Greek tragedies?  You ever heard of him?[:P]

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[quote user="sweet 17"][quote user="pachapapa"]

P.S. Put your money in a greek bank account, it pays good interest and there is a government backed guarantee scheme.

[/quote]

Er, Pacha, who's that Greek playwright (somebody whose name ends in ...epides) who wrote those classical Greek tragedies?  You ever heard of him?[:P]

[/quote]

Euripides! Eumenides!

I can think of three people the "Eumenides" would love to meet.

Strange place Athens.

Passionate lot, always remember a Xenakis Concert in the theatre below the Acropolis.

And Taxi Drivers that couldn't read.

And Hydra!

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[quote user="pachapapa"]

Yes just checked it on Windows LiveMail; indeed le kƩ kƩ has surpassed himself.[:-))]

[/quote]

Ah, Pacha, sorry it's taken me a few days to reply to your post.

Alas, despite my best efforts, I have been unable to find out what a kĆ© kĆ© is.  As you know, I am always ever ready to learn more French, especially les expressions argotiques[;-)]

So, let me hazard a guess....does it describe a creature with furry ears that brays loudly and meaninglessly at all hours of the day and whom British children refer to as Eeyore and American ones as an a**?

Am I anywhere close?[8-)]

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