More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

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More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by Udon Map » October 2, 2018, 5:13 pm

From Reuters
By: Tommy Wilkes

LONDON (Reuters) - The euro fell towards a five-week low on Tuesday after a senior official from Italy’s ruling party said most of the country’s problems would be resolved if it scrapped the euro for its own currency.

Markets are highly sensitive to Italian political developments after the ruling parties proposed a budget with a higher-than-expected deficit target, exacerbating tensions with other euro zone leaders and worrying investors who want Rome to bring its large debts under control.

The euro’s weakness combined with another push higher by the dollar, as investors shrugged off signs dollar long positions had become stretched to buy into the U.S. currency.

“We are dealing with a war of words, with the euro on one side and Italy on the other ... There’s a lot of headline risk about,” said Valentin Marinov, head of G10 FX Strategy at Credit Agricole.

Marinov, however, said he did not expect the Italian saga to weigh heavily on the euro in the medium term because there was “no real evidence of contagion” that would worry the European Central Bank and prompt it to postpone a gradual end to its fiscal stimulus.

The euro skidded half a percent to as low as $1.1525, almost its weakest since Aug 21.

Most of the losses came after Claudio Borghi, the economic head of the ruling League party, said Italy would enjoy more favourable economic conditions outside the euro zone.

Italian Deputy Prime Minister Luigi Di Maio, who has accused European Union officials of deliberately upsetting financial markets with negative comments about Italy’s budget plans, also said Italy would not change its budget deficit targets.

The euro also fell against the Swiss franc, often bought as a safe haven in times of market flux, which added 0.4 percent to reach 1.1347 francs.

The dollar extended gains as risk appetite faded, after it got a boost from the U.S.-Canada trade deal to replace the North American Free Trade Agreement.

The dollar index rose 0.3 percent to 95.542, trading at a three-week high.

Fears about international trade conflicts between the United States and major trading partners, including China, have lifted the dollar this year, as has an increasingly confident U.S. Federal Reserve.

Flows from investors buying U.S. government bonds and stocks have also underpinned dollar demand, analysts say.


AUSSIE FALLS

Against the Japanese yen, the dollar fell 0.2 percent to 113.74 yen as dollar bulls booked some profits.

Following the U.S.-Canada trade deal announced on Monday, the yen fell as low as 114.06 per dollar, its weakest since November 2017.

“If we close this week above 114, that’s going to be a significant milestone,” said Bart Wakabayashi, Tokyo branch manager at State Street Bank.

The Australian dollar fell half a percent to $0.7194 after the Reserve Bank of Australia held interest rates at 1.5 percent after its October policy meeting, a widely expected decision given inflation and wage growth continue to disappoint.

The Aussie, often viewed as a barometer of risk appetite, was expected to do well out of the U.S.-Canada trade deal but dollar demand and the central bank decision sent it lower on Tuesday.

The Canadian traded flat at C$1.2821 per dollar, holding onto most of its 0.7 percent gains the previous day.

The British pound dropped 0.4 percent to as low as $1.2990, a three-week low.


Courtesy of Reuters
https://www.reuters.com/article/uk-glob ... SKCN1MC04H



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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by yartims » October 2, 2018, 8:46 pm

The day Europe stabbed Britain in the back:Vicious scenes in Strasbourg as knives come out
ALL pretence of civility over Brexit negotiations with Europe ended today as EU big-beasts and rank and file members viciously turned on Britain at a major debate in Strasbourg.
By Joe Barnes, Brussels Correspondent and Paul Baldwin, Head of News
PUBLISHED: 08:09, Tue, Oct 2, 2018 | UPDATED: 12:14, Tue, Oct 2, 2018

The well-sharpened EU knives came out like never before in Brexit debate as speaker after speaker landed blows against Britain leaving MEP’s in no doubt no quarter would now be given in the UK’s exit from the European Union.

MEPs were gathered in the European Parliament in Strasbourg, for their monthly migration to the French city, to discuss the EU's preparation for the upcoming European Council summit October.

The tone of the debate was set by arch-federalist Guy Verhofstadt who raged against Britain almost screaming the EU would never compromise on anything for anyone.

The Parliament's Brexit negotiator urged the EU27 to remain united against Britain ahead of the upcoming October European Council summit and ranted: "We will never do anything that would undermine the principles of our union – never!”

He took a swipe at Theresa May’s divided Conservative Party and added: “We will NEVER undermine our principles to save Tories.

"We will not trample on our project to rescue a party that is deeply divided and apparently not capable to find a common line to exit the mess of Brexit."

Lesser-known Belgian MEP Philippe Lamberts joined the Britain-bashing rhetoric and said: "Britain can not be a global power without being in the EU".

The mood was matched by European Commission President Jean-Claude Juncker who warned Mrs May the EU was not ready to move on its Irish border position after reports emerged about a possible climbdown by the Prime Minister.

The European Commission President insisted the EU will remain to put "Ireland first", despite British concerns that the bloc's only view from Republican's point of view when attempting to solve Brexit's most contentious issue.

Mr Juncker told MEPs: "When it comes to the border between the Republic of Ireland and Northern Ireland, we are sticking to the point of view that we have expressed so many times – Ireland first."

Over and over again, senior EU figures have told Mrs May to work up a solution to avoid a hardening of the Irish border while the Prime Minister insists she could never accept their only offer, which effectively keeps Northern Ireland locked into the bloc's customs regime.

As the thorny issue continues to increase the possibility of a no-deal, Mr Juncker warned Brexiteers pushing a no-deal divorce that they are unaware of the issues that it will cause.

Greens leader Mr Lamberts said: "The UK decided freely to join the EU, it also decided freely to hold a referendum.

"To those especially the UK who blame the EU27 for lack of flexibility.

"We cannot be held responsible for holding intractable contradictions of the UK."

A number of attacks also focused on Jeremy Hunt's Conservative conference speech, which saw him compare the EU to a 'Soviet prison' not allowing Britain to leave.

German MEP Manfred Weber accused the Foreign Secretary of reaching a "new level of populism" and demanded an apology for his remarks.

Mr Weber added: "After March 2019 for the first time Brexiteers will have to take responsibility for their decisions, explain to the people what they did

https://www.express.co.uk/news/uk/10255 ... -UK-latest
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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by pipoz4444 » October 3, 2018, 12:16 pm

Someone in Britain (UK) needs to stand up to tell the EU that, it is the EU that owes Britain for all they have done in the past and not Britain that owes the EU. That if it wasn't for UK, the whole lot of those Fu..kcers in the EU would be speaking "HUN".

As for France (who's army capitulated in 48 hours) and left it to the UK and the rest of the world to reclaim their Country, they need to grow some balls and stand up on the UK's side for once.

As for Germany, well they are the ones that owe the UK the most.

What this should demonstrate to the UK, is that the EU was never their partner or friend.

My advice to the UK is, "Do a Trump" and tell the EU that the UK is withdrawing from NATO, WTO etc, close their Borders, and then go build up their trade with the rest of the world players. It might be painful for a few years but its a lot better than being subservient to the EU.

pipoz4444
Last edited by pipoz4444 on October 3, 2018, 3:05 pm, edited 1 time in total.

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by vincemunday » October 3, 2018, 2:15 pm

Hear! Hear! Pipoz4444
"I don't risk my life for the sake of my children, I risk it for the sake of everyone's children" Stephen Yaxley-Lennon aka Tommy Robison - Free speech activist 2017

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by Giggle » October 3, 2018, 2:17 pm

pipoz4444 wrote:
October 3, 2018, 12:16 pm
Someone in Britain (UK) needs to stand up to tell the EU
Highly unlikely. There isn't a shred of courage or conviction remaining in the whole dreary island. It appears the simple act of hand-clapping is too much for the average Briton to bear. Its being replaced with "jazz hands." I don't think they're capable of "standing up" to anything.

https://www.telegraph.co.uk/news/2018/1 ... ars-noise/

Image

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by thaiguzzi » October 3, 2018, 3:18 pm

pipoz4444 wrote:
October 3, 2018, 12:16 pm
Someone in Britain (UK) needs to stand up to tell the EU that, it is the EU that owes Britain for all they have done in the past and not Britain that owes the EU. That if it wasn't for UK, the whole lot of those Fu..kcers in the EU would be speaking "HUN".

As for France (who's army capitulated in 48 hours) and left it to the UK and the rest of the world to reclaim their Country, they need to grow some balls and stand up on the UK's side for once.

As for Germany, well they are the ones that owe the UK the most.

What this should demonstrate to the UK, is that the EU was never their partner or friend.

My advice to the UK is, "Do a Trump" and tell the EU that the UK is withdrawing from NATO, WTO etc, close their Borders, and then go build up their trade with the rest of the world players. It might be painful for a few years but its a lot better than being subservient to the EU.

pipoz4444
yawn...
Hip hip hooray for the Commonwealth hey old chap...
Mad dogs and Englishmen hey old chap.
Jesus wept.

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by vincemunday » October 3, 2018, 3:56 pm

What has trading under WTO rules got to do with the commonwealth?
"I don't risk my life for the sake of my children, I risk it for the sake of everyone's children" Stephen Yaxley-Lennon aka Tommy Robison - Free speech activist 2017

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by pipoz4444 » October 3, 2018, 6:48 pm

thaiguzzi wrote:
October 3, 2018, 3:18 pm
pipoz4444 wrote:
October 3, 2018, 12:16 pm
Someone in Britain (UK) needs to stand up to tell the EU that, it is the EU that owes Britain for all they have done in the past and not Britain that owes the EU. That if it wasn't for UK, the whole lot of those Fu..kcers in the EU would be speaking "HUN".

As for France (who's army capitulated in 48 hours) and left it to the UK and the rest of the world to reclaim their Country, they need to grow some balls and stand up on the UK's side for once.

As for Germany, well they are the ones that owe the UK the most.

What this should demonstrate to the UK, is that the EU was never their partner or friend.

My advice to the UK is, "Do a Trump" and tell the EU that the UK is withdrawing from NATO, WTO etc, close their Borders, and then go build up their trade with the rest of the world players. It might be painful for a few years but its a lot better than being subservient to the EU.

pipoz4444
yawn...
Hip hip hooray for the Commonwealth hey old chap...
Mad dogs and Englishmen hey old chap.
Jesus wept.
Actually No, I wasn't referring to the British Commonwealth

It was more a way of saying "F..ck You" to that Bureaucracy that calls itself the EU and some countries within it, that actually believe they are still the Colonial Masters of the World, i.e. France, Belgium, Italy & Germany. Truth is they were never so called Masters of the World, not commercially anyway.

At least Britain (The British Empire) built the British East India Company and also left some form of legacy behind them when they exited from their Colonies, i.e. Railroads, Infrastructure and a Justice system. Much more than what the France, Belgium, Italy & Germany did for theirs.

Yes, I am anti EU. Think they are just a bunch of Tossers and Wankers =D>

I can just see the British Forefather's rolling over in their graves, at the thought of what was once a British Empire, capitulating to or kneeling before, these four Clown Countries

pipoz

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by vincemunday » October 4, 2018, 7:05 am

Giggle wrote:
October 3, 2018, 2:17 pm
pipoz4444 wrote:
October 3, 2018, 12:16 pm
Someone in Britain (UK) needs to stand up to tell the EU
Highly unlikely. There isn't a shred of courage or conviction remaining in the whole dreary island. It appears the simple act of hand-clapping is too much for the average Briton to bear. Its being replaced with "jazz hands." I don't think they're capable of "standing up" to anything.

https://www.telegraph.co.uk/news/2018/1 ... ars-noise/

Image
Dear oh dear, this is becoming a habit! Once again I agree with giggle (I know, I know...), can you imagine the last couple of generations having to defend the country if we ever needed them to? They'd be begging the other side to settle the war by playing scissors, paper stone and asking if no man's land could become a noise free safe area. We have produced a generation of nimbies who are afraid to look up from their telephones in case real life scares them, they wave their hands like prats, put up daring Facebook posts like "not me!", degenderise themselves, piss in the same toilet as their girlfriend and call themselves activists...

Unfortunately I think you're right giggle, we are becoming a joke.
"I don't risk my life for the sake of my children, I risk it for the sake of everyone's children" Stephen Yaxley-Lennon aka Tommy Robison - Free speech activist 2017

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by dragonz » October 4, 2018, 10:04 am

vincemunday wrote:
October 3, 2018, 2:15 pm
Hear! Hear! Pipoz4444
i second thaty

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by hairyharry » October 4, 2018, 10:28 am

I blame the parents

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by arjay » October 4, 2018, 6:54 pm

pipoz4444 wrote:
October 3, 2018, 12:16 pm
Someone in Britain (UK) needs to stand up to tell the EU that, it is the EU that owes Britain for all they have done in the past and not Britain that owes the EU. That if it wasn't for UK, the whole lot of those Fu..kcers in the EU would be speaking "HUN".

As for France (who's army capitulated in 48 hours) and left it to the UK and the rest of the world to reclaim their Country, they need to grow some balls and stand up on the UK's side for once.

As for Germany, well they are the ones that owe the UK the most.

What this should demonstrate to the UK, is that the EU was never their partner or friend.

My advice to the UK is, "Do a Trump" and tell the EU that the UK is withdrawing from NATO, WTO etc, close their Borders, and then go build up their trade with the rest of the world players. It might be painful for a few years but its a lot better than being subservient to the EU.

pipoz4444
Pipoz, you can hardly expect France (or Germany) to stand up on the side of Britain against the EU. They are in the EU., it's us the UK who wants to leave. The only pressure that I can see that might sway the France or Germany is the effect on their trade with us in the event of a no deal/hard Brexit.

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by pipoz4444 » October 4, 2018, 7:58 pm

Hi arjay

I actually don't expect France or Germany to stand up for the UK or anyone else, other than themselves.

The EU & Euro has been and is, a real benefit to propping up the German economy. So yes, Germany will do anything to ensure the EU stays together, including burning the UK in anyway it can on their way out. That is their nature.

As for France, I think the whole World knows that you cannot expect any real support or backbone from the French, on just about any issue. The French and their Politicians will play on both sides, but never really commit either way, much like their Government and Vichy France in WW2

Still it would be nice to think that some of those in EU (who are old enough to remember) actually acknowledge how much Britain did for what is now the EU, 70 Years back.

Let's face it, there would not be an EU if it had not been for Britain's intervention in 1939. Time may have past, but a Debt is a Debt.

Just my 2 Cents worth

pipoz4444

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by thaiguzzi » October 4, 2018, 9:14 pm

quote - can you imagine the last couple of generations having to defend the country if we ever needed them to?

Who are they going to defend against?
I was under the impression WW II finished in 45 and it would hopefully be the last war waged in Western Europe.
Or do you mean defend our democratic principles in Afghanistan, Iraq, Libya etc?

quote - Let's face it, there would not be an EU if it had not been for Britain's intervention in 1939. Time may have past, but a Debt is a Debt.

Jesus wept. 2.0
There's your typical Brexiteer mentality, the past not the future. Unfortunately, half the people who voted to leave will be dead in 10 years, leaving the majority of young people who wanted to remain to sort the mess out. Or apply for visas to go on holiday in France...

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by yartims » October 4, 2018, 10:03 pm

the papers say macron wants to see blighty suffer very badly
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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by tinpeeba » October 5, 2018, 2:40 am

Giggle wrote:
October 3, 2018, 2:17 pm
pipoz4444 wrote:
October 3, 2018, 12:16 pm
Someone in Britain (UK) needs to stand up to tell the EU
Highly unlikely. There isn't a shred of courage or conviction remaining in the whole dreary island. It appears the simple act of hand-clapping is too much for the average Briton to bear. Its being replaced with "jazz hands." I don't think they're capable of "standing up" to anything.
Hand-clapping is also too much for MPs to bear apparently:

Why are MPs banned from clapping?
https://www.bbc.co.uk/news/uk-politics-32913113

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by Giggle » October 5, 2018, 9:25 am

Bizarrely stuck up their own holes, these Britons. They make poor neighbors and worse friends. Can't get over their smug idea of "proper" this and "proper" that. "Proper" usually meaning inferior, dated, and substandard. The EU should be glad to be rid of them.

Can't handle handclapping ... heh. Girly men to the back of the line.

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by tamada » October 7, 2018, 6:41 am

vincemunday wrote:
October 4, 2018, 7:05 am
... We have produced a generation of nimbies who are afraid to look up from their telephones in case real life scares them, they wave their hands like prats, put up daring Facebook posts like "not me!", degenderise themselves, piss in the same toilet as their girlfriend and call themselves activists...

Unfortunately I think you're right giggle, we are becoming a joke.
So how many kids did you have vince?

Don't you pay Giggle no mind, he's an incel.

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by GT93 » October 7, 2018, 7:18 am

It's been suggested elsewhere that Giggly is actually British.

The EU's job is to defend the EU's interests. It's Westminster's job to defend the UK's interests.

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Re: More Problems For The EU: Euro Slides After Italian Lawmaker Mentions Return To Own Currency

Post by pipoz4444 » October 7, 2018, 12:31 pm

tamada wrote:
October 7, 2018, 6:41 am
vincemunday wrote:
October 4, 2018, 7:05 am
... We have produced a generation of nimbies who are afraid to look up from their telephones in case real life scares them, they wave their hands like prats, put up daring Facebook posts like "not me!", degenderise themselves, piss in the same toilet as their girlfriend and call themselves activists...

Unfortunately I think you're right giggle, we are becoming a joke.
So how many kids did you have vince?

Don't you pay Giggle no mind, he's an incel.
I had to look up that word "incel" on Wikepedia/Urban Dictionary :D :D \:D/

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