So, in the UK I can't turn the television on without hearing about the EURO crisis and just how close it is to actually going totally belly-up. With the unspoken plans for Greece to leave the EURO being mentioned it seems that many ministers are accepting that Greece is fucked and there needs to be a plan in place to survive the loss of Greece from the EURO.
So, some more interesting developments for me are;-
- Cracks showing between Frances new PM and Angela Merkel.
- Greece still not getting it, "you're not having any more money" and actually it might be better if Greece just went tits-up and the surviving, stronger economies cutting them loose. Greece simply cannot have their cake and eat it.
- Smaller countries with strong economies (Finland in particular) giving out undertones that if struggling countries such as Greece and to some degree Spain and Italy can't get on board with the sever austerity measures then you're on your own. Finland's PM was fairly scathing in his judgments on the struggling countries.
- German internal politics play a huge part in the EURO political games, much larger than I had first thought.
So, would the long term plan of ditching Greece actually work? It appears we've tried everything else so what's left? Could this start a domino effect where the UK pound could also take a massive beating as the EURO folds? Or is it all panic? and finally, what will happen across the pond - are we suddenly going to get a boost to the economy as the dollar completely outstrips the EURO for exchange rate and lots of dollars get spent in Europe?