the EURO is dead

by **ejwalk** » May 19, 2010, 10:19 am

http://www.theage.com.au/business/world ... -vc08.html

5 years to go

by **Texpat** » May 19, 2010, 2:12 pm

Oh well. It was a fun little experiment. Too bad so many took it seriously.

Trying to hobble together a political and financial brotherhood among such disparate, adversarial and nationalistic countries was doomed from the start. I'm surprised it lasted as long as it did.

Layering on far-flung former soviet states only accelerated the demise.

Looks like Greece will get away with a fantastic trillion-dollar bailout just before the EU implodes. I wouldn't be surprised to see Spain, Portugal and Ireland start spending like mad to get some of that free cash France and Germany are spewing out in a last-ditch effort to save their beloved euro.

by **patriot** » May 19, 2010, 3:05 pm

Tex; you could justifiably replace nationalistic with xenophobic

by **UdonExpat** » May 19, 2010, 5:48 pm

You are welcome to bury your dead Euros in my front yard. I will buy a suitable memorial for them.

by **lepidoptra** » May 20, 2010, 2:47 am

Never mind the Euro who's going to save the pound :shock:

by **Texpat** » May 20, 2010, 2:52 am

We had dinner with a German fellow and his girlfriend tonight. We hadn't seen him since celebrating the New Year '10 in Nong Khai with our wives/girlfriends.
The euro was 50 to the baht then. It's 39 now... That's 20% in six months.

by **patriot** » May 20, 2010, 5:03 am

Two thousand years ago the Greeks gave us knowledge; they have spent the last two thousand years trying to get it back.

by **parrot** » May 20, 2010, 4:41 pm

"The euro was 50 to the baht then. It's 39 now... That's 20% in six months."

Another good reason to always have a plan B in the hip pocket. Yesterday's turmoil was another reason. I'd never want to walk away from what we have here, but if the time came to do it, we could.....and we'd survive.

by **cookie** » May 23, 2010, 12:29 pm

A euro is worth $1.25 today,
far more than the $.88 it was worth when it was first introduced.

So, this decline of the Euro ought to be viewed with perspective.
Wild statements like "EU implodes" are ....
The dollar has declined MUCH further and MUCH steeper, and it still hasn't recovered.

It's kind of weird how every decline in the Euro's value is viewed as some sort of repudiation of their economies and political systems. I didn't hear a lot of those same arguments concerning the US when the dollar was tanking far further, at far faster rates of speed.

In any case,

this seems like a good time to buy Euros and hold them...

by **Farang1** » May 24, 2010, 7:00 am

To get the Euro's strength back, would the European workers accept cuts in their benefits rather than go on strike and riot like Greece, when their governments ask them to:

"We have to adjust our social security systems in a way that they motivate people to accept regular work and do not give counterproductive incentives," German Finance Minister Wolfgang Schaeuble told news weekly Frankfurter Allgemeine Sonntagszeitung on Saturday.

Deep budget cuts are under way across Europe. Although the first round is focused mostly on government payrolls — the least politically explosive target — welfare benefits are looking increasingly vulnerable.

http://news.yahoo.com/s/ap/20100523/ap_ ... fare_state

by **homer** » May 26, 2010, 1:41 am

It seems to me that all currencies are going to hell in a handbasket with the exception of course,... wait for it,...the Thai baht. For what it's worth, the Canadian dollar has tanked 10% against Bht in 4 months with no end in sight, and our economy is in pretty good shape. I'm certainly no expert when it comes these things, but given what's been happening in LOS, shouldn't the Bht. be going down the toilet right now? :confused:

by TJ » May 26, 2010, 3:17 am

From what I have read the Thai economy is solid. The state has a large accumulation of foreign currency. Their exports offset imports. In general the stocks on the Thai exchange are of good value when compared to the western world. Haven't seen evidence that their financial sector invested heavily in the mortage debacle. They have decent relations with neighboring countries. The royal family is still a mitigating factor in internal discontent. The tropical climate and access to the sea provide bountiful food goods. They have avoided the expenditure and disruption of foreign wars. The Thai state is far less destructive to their economy than most western nations.

by **fallenlocks** » May 26, 2010, 3:53 am

i totally agree with you ,
and we farangs ,,
still think we are the rich people in thailand .
the thai economy , despite the ploitical unrest ,
grew last mounth by 4.5 per cent .

by **cookie** » May 26, 2010, 9:18 am

funds from foreign investors keep on coming into Thailand (SET)

This is the main reason why the Thai Bath is so high....more and more demand pushes the Thai Bath higher and higher.....

Foreign investors were net buyers on every trading day!!!!!

In Q1/2010, The Stock Exchange (SET)'s performance overview improved both in terms of the SET Index and market capitalization. Trading value was slightly down quarter-on-quarter (q-o-q), yet it was still considered to be high. As of end-Q1/2010, the SET Index was 7.28% higher than at end-2009; this index rise was the second highest in percentage terms among other regional exchange indices, due to the Thai economic recovery and funds flowing from foreign investors to Asian markets, which have stronger economic foundations than those of developed countries.
Market capitalization was THB 6.37 trillion (USD 0.19 trillion),a 7.79% rise over Q4/2009, as a result of the Index rise. Q1/2010's daily average trading value was THB 19.59 billion (USD 606.49
million)

http://setnewsupdate.blogspot.com/2010/04/set-news-thai-bourse-march-and-q12010.html

by **cookie** » September 3, 2010, 8:16 am

ECB hikes growth forecast

* Published: 2/09/2010 at 09:26 PM
* Online news: Breakingnews

The European Central Bank on Thursday raised its growth and inflation forecasts for the 16-nation eurozone, with the economy now expected to expand 1.6 percent this year and 1.4 percent in 2011.

In June, the ECB had forecast growth at 1.0 percent in 2010 and 1.2 percent in 2012.

Earlier Thursday, the European Union reported second quarter eurozone growth of 1.0 percent, compared to quarter-on-quarter growth of 0.4 percent in the United States and 0.1 percent in Japan.

The ECB also revised its inflation forecasts for the eurozone to 1.6 percent in 2010, from 1.5 percent previously, and to 1.7 percent in 2011, from 1.6 percent.

The new estimates remained well below the ECB's medium-term inflation target of just under 2.0 percent.

ECB policymakers meanwhile left the bank's benchmark interest rate a record low 1.0 percent, as was widely expected.

http://www.bangkokpost.com/breakingnews/194301/ecb-hikes-growth-forecast

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