http://www.bloomberg.com/news/artic...halts-in-denmark-as-reliable-prices-evaporate First the Swiss depeg from the Euro now it's Denmark's turn...Germany has already threatened to leave the EURO... Greece is about to default on their debts on or before Feb 28, 2015.... "The writing is on the wall." It's one way from here.
Why do people think currency devaluation is a tragedy? It's a race to the bottom and the holy grail is currency devaluation without printing. The EU and Euro are doing very well!
Greek Finance Minister says Germany will leave first and take Denmark, Netherlands, Norway etc with them, leaving the PIGS (how soon we forget) to sort out their own local version of the Euro being valued relatively. Pippa Malmgren let the cat out of the bag about 4 years ago, with a now disappeared blog post, saying that Germany had printed pallets of 'new' Deutschmarks for just this eventuality. So they leave the Euro to the states that want to use it, it then gets a 'local value' (e.g one 'new' Deutschmark equals 100 Greek euro, 50 Irish euro, 80 Portugal euro etc., whilst the 'strong' economies have a new basis for trading and the EU remains viable.
here is the article. http://www.moneynews.com/StreetTalk...rrencyinCaseEuroDitched/2011/10/04/id/413225/ shiny
And now for something completely different. [youtube]http://www.youtube.com/watch?v=xCwLirQS2-o[/youtube] Any allusions to currency wars is entirely coincidental.
Still can't see where Germany threatened to leave the Euro, the most I got was "expect more legal challenges to the E.C.B.'s authority, and even calls within Germany to break off from the eurozone entirely and go back to using the German mark" which amounts to nothing, just speculation of what might happen in the future and certainly not supporting the statement that "Germany has already threatened to leave the EURO" "Greek Finance Minister says Germany will leave first and take Denmark, Netherlands, Norway etc with them" - an opinion of one Greek minister and certainly not a threat from Germany. If Denmark and Norway wanted a joint currency with Germany they would have backed the Euro or at least created a second North European currency at the time.
