I didn't realize that I'd hurt your feelings. Well, I apologize if I did. Now are you going to contribute to the topic of this thread or not? Lets get back on topic please.
As far as I know, there is no formal procedure in place for a country leaving. When they formed the currency union the (silly) assumption was that it would be forever.
Chit Chat is where they place things that most people don't read. Apology accepted. I have been a member of this forum for over 7 years, and I never asked the administrator to move any threads to chit chat. I just don't read that thread.
There is no procedure for leaving. There is likely to be a mass of legal battles over a whole host of things. While the Euro could strengthen as a result (someday) of just being stronger countries, the carnage left over from the PIIGS leaving would decimate the European Union. Need I remind anyone of this: What do you think is going to happen to the countries that own the debt when they try to get repaid from the PIIGS that leave and devalue their own currencies? Germany is owed $684 Billion by the PIIGS. France is owed 911 Billion! And that's just in sovereign debt.
BTPs getting whacked now Futures below 96.00 handle...where is the ECB bond buying? Is MFG in forced liquidation mode? MELTDOWN...
A Greek default will all but ensure that France nationalize their banking sector. Sarko is going to be really pissed off.
The first 50% haircut from last week led to a huge rally globally Based on that behavior completing the haircut to a full 100 % will launch the markets into stratospheric highs! BUY!BUY!BUY!BUY!BUY! WHEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
from: Forums ⺠Main ⺠Stocks ⺠MF Global announcement: http://www.elitetrader.com/vb/showthread.php?s=&postid=3344844#post3344844