Comments on: The monstrous fact. From bail-outs to debt peonage.

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By: StevieFinn

StevieFinn — Wed, 05 Oct 2011 12:08:05 +0000

Just thinking to myself, if Germany did leave the Euro, how would that effect Ireland in regards to the ( I think ) 70 billion that is still owing to bondholders. of whom (i think) most are German. If the euro devalued 40-50% & the cash was still paid back in euros, this would amount to a short back & sides for these bondholders. On the other hand if it had to be paid back in DM, it would be an added disaster for the Irish, & probably the Greeks.

Oh, my poor head.

By: Dave

Dave — Wed, 05 Oct 2011 00:41:24 +0000

Great to see my old CiF friends RapidEddie and the PrincessCC together here.

Are you sure Peston spouted that rubbish about a sovereign debt crisis becoming a banking crisis ?

On second thoughts, not a bad ploy if Peston was working for the bankers.

WE all know that the opposite is true, that the banking crisis is expressly becoming a sovereign debt one.

By: princesschipchops

princesschipchops — Tue, 04 Oct 2011 23:26:50 +0000

Robert Peston on the beeb tonight: ‘This is a sovereign crisis that has become a banking crisis.’

Really? Really, truly Robert? I thought it was a banking criss, that never went away, that became a sovereign debt crisis that morphed back into a (visible) banking crisis!

Still Cameron has the answer. He’s told all UK households to pay off their credit cards. Yep that is right. If we just pay off our credit cards then we will be okay. I mean we won’t be able to spend in the shops and keep the old economy tickety boo – but if we do all suddenly make panicked payments to our credit cards, then that is a nice cash injection to the banking system, isn’t it? I am glad that we have a real leader in charge, with some excellent original thinking on this problem.

By: princesschipchops

princesschipchops — Tue, 04 Oct 2011 23:19:18 +0000

In reply to RapidEddie. Hi Raid Eddie! Long time no see. That about sums it up nicely me-thinks.