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MEtallic

Bank Run In Greece

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wut?..you mean they HAVENT fixed it???

"swoons"

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They need more debt.

Won't someone please give the Greeks more debt to solve all of their money woes. Christ this is so easy to fix and yet our overlords refuse to give the Greeks more debt.

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Bet any large Euro withdrawls from Greek banks will be inversted in property in London.

This is why property prices aren't falling in London - especially high end property.

Because if you leave 2 million Euros in a Greek bank - in 3 months time it could be worthless

but if you use the cash to buy a house in London - even if it halves in value you have still got 1 million Euros.

Basically these people don't care how much they pay for property in London - because at the end of the day it's better than losing everything.

:blink:

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Because if you leave 2 million Euros in a Greek bank - in 3 months time it could be worthless

One € in a Greek bank will equal the same amount as one € in any other bank.

Perhaps you mean that the banks may become insolvent.

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They need more debt.

Won't someone please give the Greeks more debt to solve all of their money woes. Christ this is so easy to fix and yet our overlords refuse to give the Greeks more debt.

The Greeks are not getting the money. That is the scam! The ordinary Greek is the sucker that gets the honour of paying off the debt.

Greece, Ireland, Portugal, Spain, rinse repeat!

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One € in a Greek bank will equal the same amount as one € in any other bank.

Perhaps you mean that the banks may become insolvent.

If Greece defaults - a Greek Euro will be worth nothing.

Even if it is deposited in another European bank.

If you think these movements of money are not being tracked I think you are mistaken.

:blink:

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If Greece defaults - a Greek Euro will be worth nothing.

Even if it is deposited in another European bank.

If you think these movements of money are not being tracked I think you are mistaken.

:blink:

If Greece defaults a Euro in Greece will be worth as much as a Euro anywhere else. The question is how much will that be in £ or $? My guess is a great deal less than it is now.

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the funniest thing about greece is that the unions are against the austerity measures required to get their loans from europe, but if they dont get their loans they are bankrupt and cant pay the salaries of public workers.

they need the loans to pay the workers, and the workers are against this!

talk about shooting yourself in the foot.

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If Greece defaults - a Greek Euro will be worth nothing.

Even if it is deposited in another European bank.

If you think these movements of money are not being tracked I think you are mistaken.

:blink:

what is a "greek" euro?

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Has a Greek, Italian and a French euro, I'm currently playing spot the difference :lol:

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They need more debt.

Won't someone please give the Greeks more debt to solve all of their money woes. Christ this is so easy to fix and yet our overlords refuse to give the Greeks more debt.

...more debt is all well and good, but debt is easily and quickly spent....what then....more debt, more debt with higher debt interest......risk is one thing but excessive high risk without any chance of a return is quite another. :o

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what is a "greek" euro?

Well the Bundesbank sure as Hell knows what a German Euro is

So you think they don't know what a Greek Euro is?

:blink:

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If Greece defaults a Euro in Greece will be worth as much as a Euro anywhere else. The question is how much will that be in £ or $? My guess is a great deal less than it is now.

The greeks (anyone actually) chucking the euro towel in will see the other nations follow them very shortly after.

Not only will they be worth less, they will be accepted less widely.

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Well the Bundesbank sure as Hell knows what a German Euro is

So you think they don't know what a Greek Euro is?

:blink:

whats a "german" euro???

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whats a "german" euro???

I'd imagine it'll be based on something comical, like which nation the luminary on them comes from.

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If Greece returns to the Drachma then a Euro in a Greek bank will become a Drachma

Which will probably then be worth about 25 Euro cents.

My guess is that any Greek citizen holding Euros in say a German bank

will have this account frozen

and the amount of Euros in their account will be adjusted once a Drachman Euro rate is established.

A Greek Euro is clearly not worth the same as a German Euro - which are clearly identifiable

Surely this is the problem

:blink:

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Withdraw it and buy gold. Greeks have already been doing this for the past few months.

Oh god.

lets play "journey to off topic!"

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I *think* that in argentina they had the corralito and further measures , which afaicr (from reading some time ago)

they froze the accounts , converted all usd to pesos and then immediately devalued by 4 (?) . wiki has an entry

for corralito :

http://en.wikipedia.org/wiki/Corralito

maybe they will go to new euros or greek euros (geuros?) instead of pesos

or even drachma .

cheers,

rockhopper

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Oh god.

lets play "journey to off topic!"

How is it off topic. We are talking about a bank run. What do you think many people will do with the money? I doubt they'll be leaving it in Euros. They were doing the same thing last May ...

For weeks buyers have been queuing patiently in the central bank's main downtown Athens office, prepared to shell out nearly €273 ($409) per piece (for Sovereigns), up from €243 at the start of May and €180 last July.

Persistent worries that Greece could default at least partly on its debts are emptying the Bank of Greece's vaults of at least 700 gold coins a day, giving a whole new meaning to the term sovereign debt.

http://www.theaustralian.com.au/business/news/greeks-queue-to-buy-gold-sovereigns-for-financial-security-in-turbulent-times/story-e6frg90o-1225870965146

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whats a "german" euro???

It is a Euro issued by the Deutsche Bundesbank

And they are easily identifiable.

This is a clearly established and well known fact.

:blink:

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How is it off topic.

I didn't say it was off topic.

It's just that, y'know, when the bugs come out, threads get relegated. That "gold, cure for cancer" thread was epic and everything but.....yeah.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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