Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

Originally Posted by rickos

In fact, we are NOT the worst, unless you are talking ONLY about Eurozone countries, and only about those that have been caught. Greece is at 12.7%, Uk is at 12.8%. Add to that that Greece today took the neccessary measures to bring it down.

As to the other matter, now that we have established how important Greece is to the world at large, fork over some cash or we're gonna take you all down with us!!!!!!

Yes, the worst out of the Euro Zone and the most likely of the PIIGS to default. Correct.

Hello everyone, happy to join your comunity.
Thanks Sean.

"For introduction: I have been introduced to Forex last year. Jumped in with high expectations and no learning curve. Like most, failed to profit and in a short time busted my account. Just picked it up again last month, did some online courses and taking it really slow. Still a lot to learn."

My thoughts on Greece: it is not the only problem in Europe. Spain and Portugal are next in line. With also enormous debt. So in my opinion the Euro is headed to record low. Anyone agree?

the latest news is that Germany is prepared to assist Greece as a last resort if all other options were to fail. They don't want to do this, but they are aware of the catastrophic impact a default could have on the global economy.

"Germany has shifted up a gear in preparing possible financial assistance to Greece, after chancellor Angela Merkel late on Tuesday briefed key ministers about instruments at the government’s disposal, the FT has learned...Officials yesterday stressed that the ministers had agreed that any help for Greece could only come as “a last resort” for Greece, both to keep Athens under pressure to reform and because of German constitutional limits."

Yes, that seems logical. It could be a foot in the door to a centralized European authority which can buy debt from its members and tax its members to be paid back.

Plenty of us will be forking out Rickos. It would be great if the Greeks would get out of bed before noon to do a proper days work though (note: comment tongue in cheek,i don't want the PC brigade after me) and save us all the bother. Getting paid 14 months of the year for 12 months work in the public sector..... must be sweet. I'd say there are many over there who'll feel like they've been hit by a train over the next few months.
Mind you,as a fellow PIG ( i'm Irish) i too know what pain feels like.

Originally Posted by Mary R

the latest news is that Germany is prepared to assist Greece as a last resort if all other options were to fail. They don't want to do this, but they are aware of the catastrophic impact a default could have on the global economy.

"Germany has shifted up a gear in preparing possible financial assistance to Greece, after chancellor Angela Merkel late on Tuesday briefed key ministers about instruments at the government’s disposal, the FT has learned...Officials yesterday stressed that the ministers had agreed that any help for Greece could only come as “a last resort” for Greece, both to keep Athens under pressure to reform and because of German constitutional limits."

I suspect that any financial assistance will come in the way of purchasing bonds issued by Greece. This is not a pure bailout, but does show support for another member of the union. Voters will also have their main objection neutralized as the bonds are an IOU rather than a handout. If you see senior members of the Greek government traveling in the near future, it may be something of a sales call to try to place all of the bonds before the actual "issue". More of a private placement than a sale. Just my thoughts on how everybody can get what they need as soon as possible.

Rickos you really shouldn't take comments posted here as ethnic slurs directed against Greek people. The Greeks are a very hard working proud people who have made incredible contributions to Western civilization. The fact that a few politicians screwed up the country's finances is not indicative of the Greek character at all.
I think the Euro is still in a downward trend but it is too tricky to trade on a day like this. Maybe better to wait until tomorrow/Friday

Originally Posted by Missing

Plenty of us will be forking out Rickos. It would be great if the Greeks would get out of bed before noon to do a proper days work though (note: comment tongue in cheek,i don't want the PC brigade after me) and save us all the bother. Getting paid 14 months of the year for 12 months work in the public sector..... must be sweet. I'd say there are many over there who'll feel like they've been hit by a train over the next few months.
Mind you,as a fellow PIG ( i'm Irish) i too know what pain feels like.

The problem is, You, as many others, only know what the media tells them.
14 salaries. Guilty as charged. However, they did not tell you what that salary is, 700 - 1,200 take home pay a month, or that those 2 extra months were given in the past instead of a human raise, or that Greeks have to make do with the above salary while paying for products at the same price as any other of the ADVANCED countries. And don't workers in other countries get a Christmas bonus for example? And that is the public sector. Private sector worker are worse off. I won't go into the other comment because I will assume you're joking. Therefore I won't ask how many hours a day the Irish are sober...

Originally Posted by Thomas Long

I suspect that any financial assistance will come in the way of purchasing bonds issued by Greece. This is not a pure bailout, but does show support for another member of the union. Voters will also have their main objection neutralized as the bonds are an IOU rather than a handout. If you see senior members of the Greek government traveling in the near future, it may be something of a sales call to try to place all of the bonds before the actual "issue". More of a private placement than a sale. Just my thoughts on how everybody can get what they need as soon as possible.

That is what I know too. German, French and Dutch Govt. controlled banks buying the bonds, IF, after the measures taken the spread does not come down.

Originally Posted by Mary R

Rickos you really shouldn't take comments posted here as ethnic slurs directed against Greek people. The Greeks are a very hard working proud people who have made incredible contributions to Western civilization. The fact that a few politicians screwed up the country's finances is not indicative of the Greek character at all.
I think the Euro is still in a downward trend but it is too tricky to trade on a day like this. Maybe better to wait until tomorrow/Friday

Thank you, I appreciate that. But, the media constantly attacks the people, they tell only the part of the story they want to, and create impressions...

Already pretty much invalidated...but i'll post anyway just to show what I don't know. :-) As my signature says....i'm still on the bridge!

Now I know Someone is watching My Trading. That order I placed at 11;00 AM New york time for 1.3735 almost got there. The Bid price never made it but the asked was just above it on an average 1.5 spread. Yeah Guys, I got the Leverage to outlast this false uprising, and Momma still prays for Me.

Bill

P.S. As an After thought, Lay off Greece. You're getting Rickos Irish up!

Originally Posted by rickos

The problem is, You, as many others, only know what the media tells them.
14 salaries. Guilty as charged. However, they did not tell you what that salary is, 700 - 1,200 take home pay a month, or that those 2 extra months were given in the past instead of a human raise, or that Greeks have to make do with the above salary while paying for products at the same price as any other of the ADVANCED countries. And don't workers in other countries get a Christmas bonus for example? And that is the public sector. Private sector worker are worse off. I won't go into the other comment because I will assume you're joking. Therefore I won't ask how many hours a day the Irish are sober...

He he, I like it Rickos, although sadly most people over here can no longer afford to be drunk all day!.
I am not in the public sector myself, i'm self-employed. Christmas bonuses are a thing of the past in many sectors, i would have thought that was the same in many other European countries too.
I would be surprised if your comment about products being the same price in Greece as many other "advanced" (your word not mine) actually held up though. To give you a rough idea off the top of my head of typical internationally known products,these would be rough Dublin prices:

Mars bar: 85/90 cents, one euro in smaller 24 hour shops
Box of cornflakes: €3
Pint of Beer (in keeping with your irish comment,lol) €4.50 (i've paid €6 recently but thats a different story)
Now,clearly wages are higher over here,but i don't believe you are paying the same prices.

The Euro is not going to fail. We are all looking at it from a financial/trading perspective, but the political factors trump economic factors here. The German-Franco alliance was the primary driving force in founding the EU, and will continue to hold it together. The fact that Germany and France were enemies and that the continent had little or no military, economic or political unity were driving factors in the defeat of Europe during World war two, and the real powers in EUrope are not going to let that happen again. If they want to survive and prosper as a continental land mass they need to unify. That doesn't mean the Euro can't drop to 1.25 or lower .

Renegade. Your Picture attached to your post goes very well with your comment. I have my own thoughts about Greece and Piigs. Not too long ago when eastern block countries like the Baltics, Poland, Romania, Bulgaria, Ukraine and more joined the EU the same EU then pumped shiploads of money into these countries. That time no-one at the sidelines were worried, seemed to care or cryed out like some do now! Strange really that we are creating such a big thing over Greece while we all now it solves itself and the EU Union will never fall apart.