MEtallic Posted May 30, 2011 Share Posted May 30, 2011 They lifted 1.5 billion Thursday and Friday from banks Only a few steps separating from Friday to yesterday's mass panic! From early morning to counter the banks there is serious pressure for withdrawals of deposits, especially small amounts. The pressure on banks began last Wednesday, culminating in yesterday's day. Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 30, 2011 Share Posted May 30, 2011 wut?..you mean they HAVENT fixed it??? "swoons" Link to comment Share on other sites More sharing options...
interestrateripoff Posted May 30, 2011 Share Posted May 30, 2011 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. Link to comment Share on other sites More sharing options...
Game_Over Posted May 30, 2011 Share Posted May 30, 2011 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. Link to comment Share on other sites More sharing options...
cashinmattress Posted May 30, 2011 Share Posted May 30, 2011 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. Link to comment Share on other sites More sharing options...
@contradevian Posted May 30, 2011 Share Posted May 30, 2011 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! Link to comment Share on other sites More sharing options...
Game_Over Posted May 30, 2011 Share Posted May 30, 2011 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. Link to comment Share on other sites More sharing options...
Freeholder Posted May 30, 2011 Share Posted May 30, 2011 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. 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. Link to comment Share on other sites More sharing options...
mfp123 Posted May 30, 2011 Share Posted May 30, 2011 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. Link to comment Share on other sites More sharing options...
mfp123 Posted May 30, 2011 Share Posted May 30, 2011 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. what is a "greek" euro? Link to comment Share on other sites More sharing options...
Ungeared Posted May 30, 2011 Share Posted May 30, 2011 Has a Greek, Italian and a French euro, I'm currently playing spot the difference Link to comment Share on other sites More sharing options...
winkie Posted May 30, 2011 Share Posted May 30, 2011 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. Link to comment Share on other sites More sharing options...
Game_Over Posted May 30, 2011 Share Posted May 30, 2011 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? Link to comment Share on other sites More sharing options...
Injin Posted May 30, 2011 Share Posted May 30, 2011 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. Link to comment Share on other sites More sharing options...
mfp123 Posted May 30, 2011 Share Posted May 30, 2011 Well the Bundesbank sure as Hell knows what a German Euro is So you think they don't know what a Greek Euro is? whats a "german" euro??? Link to comment Share on other sites More sharing options...
Injin Posted May 30, 2011 Share Posted May 30, 2011 whats a "german" euro??? I'd imagine it'll be based on something comical, like which nation the luminary on them comes from. Link to comment Share on other sites More sharing options...
Errol Posted May 30, 2011 Share Posted May 30, 2011 Withdraw it and buy gold. Greeks have already been doing this for the past few months. Link to comment Share on other sites More sharing options...
winkie Posted May 30, 2011 Share Posted May 30, 2011 whats a "german" euro??? ....same euros, different values. Link to comment Share on other sites More sharing options...
Game_Over Posted May 30, 2011 Share Posted May 30, 2011 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 Link to comment Share on other sites More sharing options...
Injin Posted May 30, 2011 Share Posted May 30, 2011 Withdraw it and buy gold. Greeks have already been doing this for the past few months. Oh god. lets play "journey to off topic!" Link to comment Share on other sites More sharing options...
rockhopper Posted May 30, 2011 Share Posted May 30, 2011 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 Link to comment Share on other sites More sharing options...
Errol Posted May 30, 2011 Share Posted May 30, 2011 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 Link to comment Share on other sites More sharing options...
Game_Over Posted May 30, 2011 Share Posted May 30, 2011 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. Link to comment Share on other sites More sharing options...
Errol Posted May 30, 2011 Share Posted May 30, 2011 Euro notes are identifiable - in terms of country of origin - by serial number. Link to comment Share on other sites More sharing options...
Injin Posted May 30, 2011 Share Posted May 30, 2011 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. Link to comment Share on other sites More sharing options...
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