Euro/Pound dive against the Yen

[routsounmanman]

kowenicki said:

gamelover2000 said:

kowenicki said:
Dont worry, the Yen will have to be devalued soon, it has to unless Japan want to utterly screw themselves. They have to do something soon, Japans tax take this year wont even meat their own debt payments. They are effectively bankrupt too.

On Europe... expect Portugal, Spain and Italy to follow Greece soon.

It was sooooo obvious that a common monetary policy and common currency couldnt work for such different economies... especially economies propped up by inflows of european cash.

the Euro is still one of the most stable currencies ever.. FAR more stable then the GBP or USD

for now.

they may, and it has been rumpoiured they will, just kick greece out of the EU of course.

Firstly, I don't think that's even possible. Secondly, should US kick California? Of course the US are a nation whereas EU is more of an entity, but, kicking any country, especially one of the first to have joined the EU would cause some serious stir in the EU circles. It would bring out a message like "you're welcome, but screw up, and you're done".

Moreover, Greece may not be a very strong country economically, yet geographically it's invaluable. Plus, it has a strong and viable commercial and military navy. Lastly, Greece has special bonds with the East, with countries like Egypt and Israel; it's EU only way to reach out to them.