Bad Day For The Euro

[ESB7]

Looking at the fall of the Euro the past few months down today at just plus 40 baht. What effect will this news bring on top of all the other troubles. Does the Euro need yet another weak economy reliant on handouts. Times are looking really rough for Euro pensioners etc.

[givenall]

What goes up must come down. It was a great run but back to reality

I remember when first Eruo was introduce it was .98 to a $

[tw25rw]

12 months in Estonian.

[IMA_FARANG]

Every cloud has a silver lining, they say. I live here in Greece. My rent for a small apartment is 350 Euro a month. About a month ago it cost me $1.40 for each Euro. Now it is down to $1.33 for a Euro....that 7 cents difference per Euro times the 350 Euro I have to pay my landlord is a nice savings on my monthly rent for me.

Edited May 12, 2010 by IMA_FARANG

[My Friend Same]

May the Euro go back under 90 cents on the dollar where it belongs

[lung]

i loose about 10.000 baht this month or wait...

6 month ago i got 10.000 moore then now

yeah so it's better

[kennalder]

What goes up must come down. It was a great run but back to reality

I remember when first Eruo was introduce it was .98 to a $

Hmm, as I recall it was introduced at 110. Unless you are talking about a dollar other than the US. In less than a year it went to over 120, then slid to below 85over the next few years. Currencies have weird swings. Wouldn't really be that surprised to see the Euro phased out. Seemed like a good idea as long as everything was going well. But now I think the Germans are ready to throw the other, shall we say, romantic nations overboard.

[bubblegum]

Every cloud has a silver lining, they say. I live here in Greece. My rent for a small apartment is 350 Euro a month. About a month ago it cost me $1.40 for each Euro. Now it is down to $1.33 for a Euro....that 7 cents difference per Euro times the 350 Euro I have to pay my landlord is a nice savings on my monthly rent for me.

Thanks to the Greece the euro went down about 20 %. From TBH 70.000-- to 58.000-- per month.

That is a lot of drinking money down the drain..

Better stop drinking

[Naam]

What goes up must come down. It was a great run but back to reality

I remember when first Eruo was introduce it was .98 to a $

for the record: at introduction the exchange rate EUR/USD was 1.18, i.e. 1 Euro bought 1.18 US-Dollars.

[Spee]

It brings to mind several ThaiVisa threads of years past, which contained stern and glowing opinions of how the Euro was going to become the world's most recognized currency, replace the USD as the currency of choice in the oil biz, etc. .... and then reality set in .....

The fact is the Euro is only being kept afloat right now by a massive influx of USD to European banks.

Although they certainly have their fair share of problems right now due to political mismanagement, the British Pound Sterling and the US Dollar are the only world currencies that have retained value and credibility over the past several generations.

The fall of the Euro has been and remains inevitable in the current socialist political environment that dominates continental Europe. I'm only waiting to see what happens when Germany and France bail out and abandon the Euro, after getting fed up of subsidizing bureacrats and lazy citizens in someone else's country. Edit: BTW, the problems with the Euro are only symptomatic of much larger political and socio-economic problems.

FWIW ... gold is up $20+ today, over $1200/ounce and will probably be driven much higher by speculators.

Edited May 12, 2010 by Spee

[LaoPo]

I think I will sleep & puzzle for a few days how Estonia with 1,3 million people, entering the Eurozone with more than 325 million people, can cause a bad day for the Euro...

What a nightmare

LaoPo

[Naam]

"The fact is the Euro is only being kept afloat right now by a massive influx of USD to European banks."

[personchester]

Every cloud has a silver lining, they say. I live here in Greece. My rent for a small apartment is 350 Euro a month. About a month ago it cost me $1.40 for each Euro. Now it is down to $1.33 for a Euro....that 7 cents difference per Euro times the 350 Euro I have to pay my landlord is a nice savings on my monthly rent for me.

Thanks to the Greece the euro went down about 20 %. From TBH 70.000-- to 58.000-- per month.

That is a lot of drinking money down the drain..

Better stop drinking

You EURO chaps are still more fortunate than us Brits, the GBP went down by 30% + v. THB, and due to the current financial mess in the UK will stay this low for some time, moreover, Brit-expats in Thailand do not get their state pension indexed, i.e. no increase.

But we are not worried in the slightest, we have several options to deal with this, one of them is to buy a guitar, walk the pavements, and sing the songs of Tom Jones and Engelbert Humperdinck ...

[ESB7]

I think I will sleep & puzzle for a few days how Estonia with 1,3 million people, entering the Eurozone with more than 325 million people, can cause a bad day for the Euro...

What a nightmare

LaoPo

Another 1.3 million bodies that need supporting from richer members. Check the exchage rate after the announcement, thats proof enough I think.

[Zolt]

I checked. It hardly moved at all.

[Spee]

"The fact is the Euro is only being kept afloat right now by a massive influx of USD to European banks."

Who do you think is subsidizing the bankrupt governments and banks loaded with bad debt? When government growth and spending runs rampant, the currency lives and dies with government policy rather than on the value of goods and services.

[roamer]

Every cloud has a silver lining, they say. I live here in Greece. My rent for a small apartment is 350 Euro a month. About a month ago it cost me $1.40 for each Euro. Now it is down to $1.33 for a Euro....that 7 cents difference per Euro times the 350 Euro I have to pay my landlord is a nice savings on my monthly rent for me.

Thanks to the Greece the euro went down about 20 %. From TBH 70.000-- to 58.000-- per month.

That is a lot of drinking money down the drain..

Better stop drinking

You EURO chaps are still more fortunate than us Brits, the GBP went down by 30% + v. THB, and due to the current financial mess in the UK will stay this low for some time, moreover, Brit-expats in Thailand do not get their state pension indexed, i.e. no increase.

But we are not worried in the slightest, we have several options to deal with this, one of them is to buy a guitar, walk the pavements, and sing the songs of Tom Jones and Engelbert Humperdinck ...

Now let me guess, the Tom Jones song would surely be "the green green grass of home" and Englebert has to be "Please release me, let me go etc".