Latest posts for the topic "Thoughts on the Euro Crisis?"

Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 12:48:10 GMT

Hi Folks,

I'm off to BsM on Saturday and am wondering what people think the future holds for the Euro ( funny monkey metal coins and duff looking notes I know but.... ).

As the next round of financial hand wringing and talks are on the day before ( Friday 9th )I think it may be prudent to take plenty of Sterling also....

.....mind you on the plus side if they do pull the plug because they cannot and will not find the Trillions to bail France , Spain and Italy ( again ) out I may be stranded in the Alps for many months ).

But deep down I think they will keep the dying Euro struggling on as too many fortunes and career's hang on it's outcome so we may be okay for now....

...what are your thought's ?

jon.

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 13:08:53 GMT

I don't think!!!!!!!
:mrgreen:
Not here anyway......

For me this place is about escapism to the memories and expectations of sliding on the white stuff.

I'll stick to the weather forecasts and webcams and stories and questions and answers that help me keep my passion alive and well and possible.

I can, however, share a moment or two of concern for those whose fortunes are more imediately tied to the Euro ....

Do enjoy exploring Les Arcs next week anyway :thumbup:

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 13:40:17 GMT

I certainly don't think it will happen short term

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 13:54:29 GMT

Here are my thoughts:

The End

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 14:13:18 GMT

NellyPS wrote:Here are my thoughts:

The End

Nelly ....
Is that a white out????
:shock:

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 14:32:01 GMT

Or a Air out 8)

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 14:45:31 GMT

Hi All,

I'm a little surprised by the lack of thought's for want of a better word.....no Euro.....no skiing, or much more expensive skiing could be the result.

Hopefully not though.

Some other form of monetary exchange will take it's place in the event of a collapse this is an absolute certainty, it will either be two stage Euro, back to Sovereign Currency.....or the worst case scenario a "Credit" based currency backed by even less ...well nothing to be precise, this coupled with Fractional Reserve Banking will mean NO skiing holidays for many people.

Right that's enough of the doom and gloom , but heads need to be taken out of the sand.

....right back to the webcam's and Ardbeg for my cold :thumbup:

jon.

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 15:04:50 GMT

Whatever the rights, wrongs and possible outcomes of the current situation the "crisis" seems to be a UK phenomenon.
Here in France there is none of the "end of the world, hair tearing, running around screaming" type of reaction.
Of course this could just be delusional behaviour (not for the first time) but the sense of panic is not here, not in the mountains anyway.
The mountains will always be here and so will the skiing, whatever currency is used.
Whether it will more or less expensive, who can say, though I am sure that small, independent companies will try to maintain the value even if the price changes.
Bon Ski!

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 15:25:12 GMT

For me it just goes in one ear and out the other. Hence the 'air out'.

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 16:14:54 GMT

Well will not be changing any money into our euro account until the last poss moment.If the euro dies skiing will be cheaper in the long run axcept in Gemany . Still what do i know greater minds than mine got into this mess.
Goff

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 20:30:21 GMT

Let me tell you what I know through a client of mine who is highly connected.

I am told the Euro can only survive if it splits into 2 zones: North and South. North will be France, Germany, Austria, etc and South will be the failing nations like Greece, Spain, Italy etc.
There will be 2 rates of exchange.

This has to happen as the countries in the eurozone who are doing ok are being bled dry. However, this does not take into account a nation coming out of the euro, as this was never considered an option, and if 1 nation opts out, it sets a precedent and others could do so.

I have also heard a rumour that Germany is already printing Deutschmarks in case they decided to pull out, and in which case the Euro will fail as without Germany its almost worthless.

However, what happens in those countries who go back to their own currency, no one knows. Prices may go up, they may go down. We might be able to buy their currency cheap, we dont know. What I personally dont get is that the GBP is weak, the Euro is weaker, but the GBP cant buy the euro at a cheap rate. It doesnt make sense to me.

As for skiing....who knows. It may remain a constant cost for us here in the UK, it may become more expensive. In the meantime, the euro remains and the rate of exchange is roughly the same as it has been for a couple of years now, which is not particularly good. But I cannot see the euro collapsing in the short term, so try not to panic.

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 20:41:24 GMT

December really is the month that the sticking plasters run out. If the politicos sort it out this week then it will continue, if not then Greece will default and be kicked out. There will then be a split, but the markets may still hunt down France.

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 20:43:25 GMT

I had my work xmas party on Friday (I was drinking a lot of the happy juice in training for skiing)

I chose to sit next to the CFO....I know, bad mistake as I had to be on best behaviour!!

Great decision, he is a keen skier!! I asked him for his opinion on the Euro. He said it wont collapse. Simple

I believe him. He also showed me a pic of his wife skiing last year....she is nice :D

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 21:36:23 GMT

It won't die in the immediate future - effectively bankrupt countries like Greece can't leave because they have nothing to legitimately convert into a new currency so can't leave until and unless they have turned their finances around which will take a long time.
In the short term it might make skiing in Italy more expensive as they try to grab as much tourist cash as they can to balance the books.
Look at French prices - otherwise called legal robbery. Funny how the locals seem to use vouchers in the resort cafes.

Re:Thoughts on the Euro Crisis?

Mon, 5 Dec 2011 23:57:15 GMT

andymol2 wrote:
Look at French prices - otherwise called legal robbery. Funny how the locals seem to use vouchers in the resort cafes.

That sir is a very good point

Re:Thoughts on the Euro Crisis?

Tue, 6 Dec 2011 09:36:44 GMT

andymol2 wrote:It won't die in the immediate future - effectively bankrupt countries like Greece can't leave because they have nothing to legitimately convert into a new currency so can't leave until and unless they have turned their finances around which will take a long time.
In the short term it might make skiing in Italy more expensive as they try to grab as much tourist cash as they can to balance the books.
Look at French prices - otherwise called legal robbery. Funny how the locals seem to use vouchers in the resort cafes.

If you can't afford it don't go is the simply answer :wink:

Re:Thoughts on the Euro Crisis?

Tue, 6 Dec 2011 18:09:27 GMT

What needs to happen is the Euro zone countries and further afield need to realise that any country going bust will start a chain reaction that will be very difficult to stop. The international community needs to act to prevent that.
A big part of the problem that has been the downgrading of credit rating, it's a vicious circle, credit rating drops, the interest rate goes up and country gets closer to the edge. At some point the country goes bust the banks lending the money need to be bailed out and we all suffer.
We need an international agreement to lend to sovereign states at a guaranteed low rate for the next 2-3 years in return for a structured control of spending and investment from outside.
With that breathing space the Euro Zone countries can work out how to move forward, who's in and who's out.

Re:Thoughts on the Euro Crisis?

Tue, 6 Dec 2011 19:30:13 GMT

......

no chance of picking up a 10 room all en-suite chalet for 5 euro's and a packet of pork scratching's then when/if it goes pear shaped.....?

jon.

Re:Thoughts on the Euro Crisis?

Tue, 6 Dec 2011 19:44:51 GMT

After having spoken to a Euro economic expert today he said that it is extremely unlikely that the Euro will collapse purely off the back of the export abilities in Germany.

Buying Euro now or in a few weeks will make very little difference

:thumbup:

Re:Thoughts on the Euro Crisis?

Tue, 6 Dec 2011 20:13:42 GMT

NellyPS wrote:Here are my thoughts:

The End

:lol:

Re:Thoughts on the Euro Crisis?

Wed, 7 Dec 2011 14:59:52 GMT

Friday appears to be "Le jour du Grand Crunch". It will possibly decide whats going to happen.
Looks to me as if the 2 tier approach will be favourite, but not our best option here in the UK as the single currency would remain strong vs the GBP.
Our best hope is that the Central European Bank decides to buy up all the bonds as this will devalue the Euro and mean we can buy more for our GBP. I think this is less likely sadly for us over here.

Re:Thoughts on the Euro Crisis?

Wed, 7 Dec 2011 15:46:24 GMT

Nightmare scenario - with no easy solution.
As tourist we may be happy to see the value of the Euro drop but our govenment is less keen as it makes our exports more expensive & I doubt we will be the winners!

It would be nice to have a stronger Pound as I'm a tourist not an exporter!

Re:Thoughts on the Euro Crisis?

Wed, 7 Dec 2011 15:53:11 GMT

Tony_H wrote:Our best hope is that the Central European Bank decides to buy up all the bonds as this will devalue the Euro and mean we can buy more for our GBP. I think this is less likely sadly for us over here.

More importantly:-

1. Have they ever been to N?
2. Do they wear a lid?
3. Do they wear expensive or cheap sunglasses?
4. Did they do the snowdance?

Those are the questions that should be asked on Question Time tonight!!

:roll: :roll: :lol: :lol:

Re:Thoughts on the Euro Crisis?

Wed, 7 Dec 2011 16:40:51 GMT

:lol: :lol: :lol: :lol: