Plan to tax savings is cancelled after vote of majority against the tax. But there will be a bank run tax or not. Trust has completely disappeared.
just two little words from Euro politician and confidence is back again , euro up to 1.3050 and 1.32 six hours later. why? all is needed is just to print some more euros how easy! on the balance sheets any loss/debt can be deleted or should i say transformed into some other debt, but who cares? you can save the system, make people happy again and let them dream in illusion that their deposits really are worth something .....
Confidence is NOT back at all. All over Europe people are disgusted from politicians. The rise of the Euro is organized by the ECB. European politician want to prevent new problem for the Euro. No matter what the cost will be. Limit the damage is all they want at this moment.
Well they have to open the banks soon but the moment they do, everyone draws out their â¬â¬ and the banks collapse. Between a rock and a hard place.
but who wants confidence right now? surely it's better than printing? maybe it was all intended? russia will step in and take the gas fields, done deal. but good opportunity to keep euro weak, no? it's all imagination anyway right? weak euro is good for the eurozone, right? why let an opportunity like this go to waste? just imagine how much well connected money mangers made from this event? of course it was unbelievable from the start- that's the whole point. but it was a good opportunity.
So risk a run on the bank for a cheap euro???? Greece, Spain, Italy and Portugal are risking a run on the bank too now. You think that is better for having a cheap euro? After the run on the bank the euro will be cheap......very cheap.
1. be realistic how many people do you think are running for the banks in europe this week? 2. where will they take their money? dollar? that will strengthen $ it's what all central banks want, no? or what buy bonds? stocks? gold? that's even better. what about it spending it? even better. 3. you think this hasn't happend before? btw the european banks are pretty well funded. so are US banks. 4. yes euro is running out of options. fear is one way to keep it low. how much lower can the put rates or how much more can they print? all I'm saying is if you look at it from all angles, EU never lets opportunity like this go to waste. look at greece events and italy, every time euro go a head of itself there seems to be a european problem. the funny thing is there always is endless list of problems but they're only put on the pedestal when needed. after all how are they in any way going to save the dollar?
so your opinion is the euro has bottomed out? I know that dollar sure looks toppy. Hard for one to go up without the other going down looks like more of a turtle race than a fast sprint to the bottom you sound like you've thought about it more than me, but I thought confiscation would be slightly bullish for the euro
i think whatever happens in cyprus it's good news for euro. if it's bailed out then less problem, if it leaves the EU then even better - think euro will actually rally if it did leave, same for greece - as I think long-term it will exist but maybe not by as many members as today. but who wants a strong euro any way?? why in hell is it not at 1.20 already? i think central banks have worked hard to maintain a value range for the main pairs. there are lot of 'currency war' talk but i think it's perfectly co-ordinated. without all this mess, eur/usd would be at 1.40+
why not 1.2? well, swiss have a peg to eur! imagine what would happen if swiss banks will share cyprus fate. europe is finished. they produce little things aside from banking services and big pharma. both are NOT needed outside of Europe. USA has Apple, Intel, Facebook, Twitter, Hollywood,Las Vegas and New York. Asia - 3 billion hard working little people willing to manufacture anything cheaply. Europe? you cannot really sustain yourself ripping tourists in Paris, Rome and Barcelona off. Germany at least has BASF, BMW, Porsche, Siemens and Daimler.