Dear Chief Secretary to the Treasury,
I'm afraid to tell you there's no money left.
Signed, Liam Byrne

(Outgoing Labour Chief Secretary to the Treasury. May 2010)

Saturday, 15 May 2010

And the Euro?

in a letter to clients late last week, Morgan Stanley warned that Germany may leave the euro and the EMU and that investors should be prepared for this event.
Read the complete article here

To force a consensus on the Greek bailout
Sarkozy demanded a "commitment from everyone to suppport Greece...or France would reconsider its position in the euro," according to one source cited by El Pais.
"Sarkozy ended up banging his fist on the table and threatening to leave the euro...This forced Angela Merkel to give in and reach an agreement."
So, perhaps Morgan Stanley was wrong?

Mrs Rigby hasn't a clue what's going on, because there doesn't seem to be much in our newspapers, everybody's distracted by the new coalition government.


Furor Teutonicus said...

NOTHING, I can find, has mentioned "leaving the Euro" here.

Maybe F.T Deutschland, but who the HEL reads that any way?

Also, we remember how, as the Brits were with decimalisation, ripped off when we went in.

Things that were 1 mark in the shops, overnight, were €1, a DOUBLING (+-). From a monthly food bill of 50 to 60 marks, we all of a sudden needed 60 to 70 Euro!

It may be a dream to get the Mark back, but we all know we will be robbed once again.

Mrs Rigby said...

Thanks for that Furor.

According to Google the net is full of rumours. Gruniad quells one

Something on FT, if you haven't used up your monthly view

Might be worth strolling through this site too, go back two or three days

Whatever is going on doesn't seem to be hitting the front pages, they're too busy talking about old school ties, milipedes and percentages.

Furor Teutonicus said...

I went through the German papers yestaerday after reading your post. NOTHING.

UNLESS, of course, it is hidden on page five of some "local rag" like the Frankfurter Allgemein. Not even anything about Sarkozy, or however he spells his name.

It appears that the British press quite often tell the Brits that the Europeans are going hysterically up in arms about various things, when from here, we have never even HEARD of the issue.

The pub smoking ban a case in point. The BBC kept on about the "Pro/Anti smoking lobbies" as if there were barricades in the streets, and burnings of the Reichstag.

All our pubs did was declare themselves "smoking pubs, no under 18s", and that was the end of the story. (Except in Bayern, where the ban is tOTAL. But even there. No protests.)

Mrs Rigby said...

Thanks for that Furor, sounds as if it's a rumour of a storm in a teacup.