Algarve Resident newspaper

My friends, this was taken from Algarve Resident newspaper:

http://www.algarveresident.com/0-44969/algarve/alvor-hotel-targeted-by-criminal

http://www.algarveresident.com/0-44967/algarve/police-patrols-on-the-deserted-a22

http://www.algarveresident.com/0-45054/algarve/new-format

http://www.algarveresident.com/0-44977/algarve/fco-has-advanced-plans-for-eurogeddon-say-papers

http://www.algarveresident.com/0-44994/algarve/rescue-puppy

http://www.algarveresident.com/0-44969/algarve/alvor-hotel-targeted-by-criminal

It's very odd, the way hotels are being targetted - I don't recall this happening elsewhere?

http://www.algarveresident.com/0-44977/algarve/fco-has-advanced-plans-for-eurogeddon-say-papers

And there is that story about the UK having plans to evacuate ex-pats if need be; that would be a real disaster for them and for the area.

I can't see many wanting to be forced to return to the UK and its wierd weather - not to mention they would be left with little bar what they could carry with them.

It would also be a catastrophe for the area, I would think?

But it does look like plans are being made for the final collapse of the euro:

Two weeks ago, one Portuguese business daily published an outline of what would happen in Portugal if the euro failed.

The Jornal de Negócios stated that the Portuguese government would make an announcement to return to the Escudo after emergency contingency plans had already been set in motion.

These would include the banks being closed and then nationalised and Portuguese frontiers being temporarily closed to prevent an exit of capital from the country.

It estimated that savings held in euros in Portuguese banks would suffer up to a 50% devaluation overnight.

Strict limits would be placed on the amount of cash per day that could be drawn out from ATMs and existing euro notes would be stamped with an escudo stamp until the new currency had been printed and distributed.

Portuguese economist João Duque said in an interview with TSF Radio Notícias in August that if the eurozone countries didn’t do more to harmonise tax and budgetary systems within the EU then the single currency would end.

The president of ISEG and adviser to the government agreed with the IMF’s former deputy director, Desmond Lachman, that Portugal’s exit from the euro was “inevitable” and was quoted in the newspaper Expresso as saying that the “euro had its days numbered”.

I am sure I still have a few escudos and pesetas somewhere....

http://www.algarveresident.com/0-44967/algarve/police-patrols-on-the-deserted-a22

The road tolls sound like a disaster all round, Pedro?

Some interesting stories in the Resident today, thank you, Pedro.

bb1 wrote:http://www.algarveresident.com/0-44977/algarve/fco-has-advanced-plans-for-eurogeddon-say-papers

And there is that story about the UK having plans to evacuate ex-pats if need be; that would be a real disaster for them and for the area.

I can't see many wanting to be forced to return to the UK and its wierd weather - not to mention they would be left with little bar what they could carry with them.

It would also be a catastrophe for the area, I would think?

But it does look like plans are being made for the final collapse of the euro:

Two weeks ago, one Portuguese business daily published an outline of what would happen in Portugal if the euro failed.

The Jornal de Negócios stated that the Portuguese government would make an announcement to return to the Escudo after emergency contingency plans had already been set in motion.

These would include the banks being closed and then nationalised and Portuguese frontiers being temporarily closed to prevent an exit of capital from the country.

It estimated that savings held in euros in Portuguese banks would suffer up to a 50% devaluation overnight.

Strict limits would be placed on the amount of cash per day that could be drawn out from ATMs and existing euro notes would be stamped with an escudo stamp until the new currency had been printed and distributed.

Portuguese economist João Duque said in an interview with TSF Radio Notícias in August that if the eurozone countries didn’t do more to harmonise tax and budgetary systems within the EU then the single currency would end.

The president of ISEG and adviser to the government agreed with the IMF’s former deputy director, Desmond Lachman, that Portugal’s exit from the euro was “inevitable” and was quoted in the newspaper Expresso as saying that the “euro had its days numbered”.

I am sure I still have a few escudos and pesetas somewhere....

I have read the collapse of the Euro will Bankrupt many european countries?

LL has a better grasp on it than me, Tony, but yes, they are staring disaster in the face.

The UK didn't join, so while it will be hit, it will miss the worst of it and stagger on as usual.

And we've had practise at evacuating Brits from Europe...

I think the one tiny glimmer of hope for the European nations who joined is that it will make their exports cheaper, and holidays too?

My own view is that the collapse of the euro is inevitable, and that this continued uncertainty is making matters WORSE, as no-one seems to be taking decisions or showing leadership.

Time will, as ever, tell, but we live in interesting times...

The problem with the Euro is that of 'locking in'. Normally, if a country gets in monetary trouble, it will devalue its currency and start over. Such a move was made in the UK in 1967 by the then Labor PM, Harold Wilson. I believe there may have been a UK devaluation in 2008, but not sure on this. However the eurozone countries cannot devalue, the euro doesn't allow this. If a country were to leave the eurozone it would certain have monetary problems, though I am not sure exactly what, but I do know their situarion would more than likely be dire. Those EU countries who have not signed up to the eurozone will escape far more lightly than the 17 locked into the monetary union. But a lot of this information from the media is hype, a need to be first with breaking news; I would advise people to watch carefully, but not to panic and to wait and see what happens. LL

My friends, please, convince friends of yours to achieve those puppies.

http://www.algarveresident.com/0-44994/algarve/rescue-puppy

bb1, about tolls: so it seems.

you welcome my friend.

About the euro: there is speculation about it.

I agree with LL: "But a lot of this information from the media is hype, a need to be first with breaking news; I would advise people to watch carefully, but not to panic and to wait and see what happens."