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Greece...
Comments
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RenovationMan wrote: »No response from Thrug about my comments above. I'll assume that the latter is true and he just enjoys making people worry, while he sits safe - hence why he gets so annoyed at me because I'm immune to his 'fear agenda'. :rotfl:
"Mirror Mirror on the wall. Who is the fairest of them all."
Breaking a mirror apparently brings 7 years bad luck. So be careful.0 -
No real surprise there. There's been a steady stream of money leaving Greek banks over the past couple of years.
Yes, there certainly has been, as I pointed out a year ago.
However, the amounts are now substantially higher than they were in the recent past. There is a big difference between what's been happening in the past two years, when deposits have been taken out at an average rate of between €2 billion and €3 billion a month (€5 billion in January), and what happened earlier this week when around €700 million was withdrawn in one day! There is now a serious risk of contagion (maybe happening already), as can be seen in what's hapening with the likes of Bankia SA in Spain.There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
Thrugelmir wrote: »"Mirror Mirror on the wall. Who is the fairest of them all."
Breaking a mirror apparently brings 7 years bad luck. So be careful.
Even when responding to my claim that you enjoy posting warnings to scare people, you refute it by posting a warning. You just can't help yourself can you? :rotfl:
It falls on deaf ears with me though Thrug, I don't scare easily.
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If you raise a question about one of his posts he replies with a question or if not a completely different answer to his post, it really is very strange.RenovationMan wrote: »Even when responding to my claim that you enjoy posting warnings to scare people, you refute it by posting a warning. You just can't help yourself can you? :rotfl:
It falls on deaf ears with me though Thrug, I don't scare easily.
Careful though, the old man will probably put you on ignore just because he is unable to back up his argument.0 -
Sometimes I get reminded of Nero, fiddling when Rome was on fire.
Quite! The powers that be in the EU have largely got away with little more than talk and a whole load of flannel over the past few years. It was always going to come to a head, sooner or later. I don't think that the financial markets have any more appetite now for that old stance. It looks like it's maybe now the time that it's going to come back and bite them on their uber-elite, corrupt, unelected, unaccountable, politico-technocratic, autocratic !!!!!!!There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
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EU trade commissioners have confirmed that emergency procedures are now taking place to deal with Greece leaving the Eurozone.
The caveat however is that they still believe Greece will stay within the Euro and the Eurozone, but my, and analysts belief is that this is just line towing.
Belgian newspapers headline "the Greek endgame has started".
Meanwhile bad debts across Spanish banks have risen to an all time high of 8.37% of the entire banking sector.0 -
I don't think they'll say the end has come for Greece until the new currency is actually printed and ready to roll out (if they get the luxury of waiting that long). When has Greece got their next bank holiday?[FONT="]“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ~ Maya Angelou[/FONT][FONT="][/FONT]0
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I don't think they'll say the end has come for Greece until the new currency is actually printed and ready to roll out (if they get the luxury of waiting that long). When has Greece got their next bank holiday?
I think that initially they would probably "stamp" the current euro notes and then exchange for the new currency notes at a later date. The next public holiday is Whit Monday on the 4th June, so a possibility, and it could be extended a few days with the banks closed. You would have thought definitely at a weekend for an announcement at the very least.
Maybe it's a good time to buy shares in De La Rue plc? Mind you it's SP is already up 10% in the past month, so maybe it's a bit too late?
There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
Greece's four biggest commercial banks will receive an €18 billion ($23 billion) cash infusion from the European bailout fund.
The recapitalization comes amid political uncertainty in the debt-stricken country after inconclusive May 6 elections saw a rise in support for anti-bailout parties and cast doubt over whether Greece's future use of the euro currency.
The uncertainty has impacted bank deposits as people have been withdrawing their money to hedge against the country's possible return to its old devalued currency, the drachma.
The European Financial Stability Facility (EFSF) money will be disbursed on Wednesday to the National Bank of Greece, Eurobank, Alpha Bank and Bank of Piraeus.
APThere is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0
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