‘Euro will be stable’ claim is ridiculed – Telegraph

Major telegraph lines in 1891

Image via Wikipedia

The Euro crisis continues into 2012.

This article is a good read and highlights the extreme German position.

Travellers need to think about the risk of being stranded in a Euro country that defaults. 

In 1891 speculators  receiving the first telegraph made fortunes (see major telegraph lines in map). 

Thanks to the internet, a default would now be global knowledge instantaneously. Speculators in 2012/13 would probably be hedge-fund managers taking speculative trading positions – fortunes would be made and lost overnight.

What about the average person caught out travelling in Europe? Have you thought out what you might do if you got caught out by a default? It is likely that withdrawing money on credit cards would be blocked. Perhaps, we should carry a few travellers cheques in a safe currency?

‘Euro will be stable’ claim is ridiculed – Telegraph.