"The death of the euro is more likely than its survival"

[Brendan Burgess]

A good article by Dan O'Brien in today's [broken link removed]

AT THE beginning of each year, this newspaper publishes a preview of the coming 12 months. In the 2011 preview, I put the probability of the euro breaking up at 15 per cent. One year later, in the 2012 preview, it seemed close to – but still below – 50 per cent.




Now, more than halfway through 2012, I find it impossible to avoid the conclusion that the probability of break-up has gone above the 50 per cent threshold. In other words, the single currency project is more likely to collapse than to survive in its current form. Financial, economic and political problems appear too great to be overcome by a group of 17 countries that have proved unable to end the crisis.

I have no special insight into whether Ireland will remain within the euro or not, but I do think that people should protect their savings against a euro breakup.

 

[Protocol]

I think it's more likely than one country will leave EMU, than all 17 reverting back to their own curriencies.

 

[serotoninsid]

Probably Greece first

With that in mind, what's the next big milestone for Greece that would be relevant to their existence in the euro? i.e. is that the next big repayment they need to make or the next drawdown of $ they attempt to get?

 

[tester1]

Can someone direct me to a thread on how to open a sterling or german bank account... do they have branches here? is it difficult? How do you do it???

 

[Gervan]

See Brendan's first post for links on the threads you want.

Specifically to open a sterling / dollar account you could look into Lloyds

or Nationwide International


both based in Isle of Man.

It takes a little time to open the accounts by postal application, then you have to apply for telephonic banking in order to get online banking, so these aren't the answer if you're in a hurry.