"Euro will be dead in five years"

[STEED]

Euro 'will be dead in five years'

No chance.

I am a hard core sceptic who has never got it wrong, two million years of gut instinct tells me its here to stay.

I'm going to my local bookies to put a £20 bet on the euro will stay.

[Skybird]

http://www.spiegel.de/international/...699471,00.html

Addressing Gauweiler's latest constitutional complaint, Berlin said that if the injunction is issued, it could directly result in a Greek bankruptcy. The government also stated that the euro rescue package agreed to by the EU member states in Brussels was "not a legally binding international agreement, but merely a political statement."

Just a political statement? Who does the government think it could make believe this nonsense?

Kerber and his supporters plan to challenge the rescue package's legality under both German rules as well as European law, and they would like to see the German Constitution Court also force the European Court of Justice in Luxembourg, the EU's top judicial body, to address whether the euro bailout is legal under European law.

The German court traditionally is friendly towards past german policies of european integration, and only rarely decides against policies the government claism to serve in that function. Last year we have had a ruling that - partially - was such a challenge of wanted obedience to this european integration imperative, but such rulings are not issues often.

That the EU court would rule against what the governments have decided, I hardly can even imagine, for many observers and insiders agree that the record of the highest EU court in opposing offiocially wanted EU policies is everything but impressive. That may have somethign to do with that the judges are being called into office by EU governments, are being payed royal wages, are serving for limited time only - and can be confirmed for another term afterwards by just these governments. This serves as a nice incentive to not bite the hands that feed them.

[UnderseaLcpl]

Originally Posted by STEED

I'm going to my local bookies to put a £20 bet on the euro will stay.

It may stay, but that doesn't mean it will be worth anything. Precious metals are gaining on every currency the world over while the Euro continues a fairly steady drop against the major currency pairs. Consumers, investors, and even entire nation-states are losing faith in the Euro as a medium of exchange. Given the completely unsustainable nature of current E.U. fiscal policy, political discord, and the rising popular sentiment against the E.U., I don't see the Euro maintaining its status as a viable currency.