Rumours of Euroland

there are rumours that one of the euro currency countries are thinking of pulling out of the euro if this were to happen and it was one of the well known states the euro would crash faster than the pound has recently

I heard it was Ireland

F

Rumours have been around the financial markets for a while that Spain, Greece, Italy, Portugal and Ireland have all been lobbying for a weaker currency.

Don't see any country actually leaving, but watched CNBC tonight and everyone seems to agree that ECB have been too slow to react to the crisis

and the Euro will have to weaken soon.

Any idea where this latest rumour originates from?

Originates from a report by merril lynch that spain is nearing being classified as bankrupt

Here is a news report

A radio report suggested that one of the PIGS might leave the Euro but failed to mention which one.

Surely being bankrupt makes exiting the Euro much harder if not impossible?

The return of the Peseta ?

This message was last edited by PMillsom on 1/17/2009.

"and the Euro will have to weaken soon."

"Any idea where this latest rumour originates from?"

Possibly me - lol

All joking aside, I have speculated for some time now that the ECB has not reacted fast enough to cut interest rates, and the reason behind this was to artificially inflate the strength of the EURO. This helps Germany and France but not the PIGS and Ireland.

I think Ireland might be 1st to go from the EURO if the ECB doesn't act fast and slash interest rates. Either that or the PIGS and Ireland will all go at the same time, thus probably putting an end to the EURO as a single currency for good!

I suspect the rumours come from similar sources to the ones about Germans only accepting banknotes printed in Germany - possibly just anti-euro propaganda. The single currency breaking up seems a little unlikely to me - but then again, so do many of the things that have actually happened over the last year.

I actually rather like the idea of Spain dumping the euro, in favour of a new 4-nation currency known as the PIG.

"How much do I owe you for that coffee?"

"Oh that'll be one PIG, please!"

Not a bad idea!

You could have smaller denominations like "six pork sausages" = half a pig

and

a 'packet of bacon' = 1/10th of a pig

and

a "trotter" could be 1/100th of a pig

Therefore a pint of beer out here would cost anywhere between:

1 pig + 6 pork sausages

and

1 pig, 6 pork sausages, 4 packets of bacon and 5 trotters

oh dear! My pigs only come with four trotters!!!

Hmmm! Time I went for another Cerveza or three methinks! urm! How many pigs I got left on me farm in Devon!?!?!?!?!!?

Ireland ditch the euro and euroland?

 ITS NEVER gonna happen Lads!

 Ireland Milked the EEC ( DRY) and it kick started the Celtic Tiger!

 ( paid for  mainly  by the german and British taxpayers) and now the boom has turned to bust ,

   poor old Ireland will be expecting big Euro handouts again, so GERMANY,FRANCE and all you Brits

  start working harder and get your Taxes into the GOOD old Euro handout fund!

"oh dear! My pigs only come with four trotters!!!"

I think you will find that there was some obscure new legislation passed in Brussels while no one was looking, dictating that ALL EU pigs are to be decimalised in preparation for the new currency. Watch out all you farmers with "old" four trottered versions, there are stiff fines for not "upgrading" to the "new" 10 trottered version.

I read at the weekend that, just as "Sub-prime" entered our consciousness and vocabulary last year, so too will "PIGS" this year. Interesting times we live in!

Actually its only the germans that when they entered the euro also had a mechanism for leaving it as well

Maybe Germany has an over supply of pork produce and need to shift it somehow?

Oink, oink! Here comes the pig!

You can just see it know, down the local saying "can you change up these five pigs for me please! I need a few rashers of bacon, some sausages and a load of trotters!"

Sounds a load of swill to me, but hey! I've been wrong before!

Hi all

I've enjoyed watching posts at times, been busy doing other things like enjoying our month in Spain.

Thought I'd source you a flying pig as they do exist.