interestrateripoff Posted June 29, 2015 Author Share Posted June 29, 2015 'Greece borrowed vast sums and then had a party on the proceeds – but the wider lesson is it's time to abandon this failed euro experiment' Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 29, 2015 Share Posted June 29, 2015 'Greece borrowed vast sums and then had a party on the proceeds – but the wider lesson is it's time to abandon this failed euro experiment' I read greece, I think UK. Time to stop funding the banks and let the economy find it's true level. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 29, 2015 Author Share Posted June 29, 2015 Juncker To Greece: "Don't Commit Suicide Just Because You Are Afraid Of Death" We now know it's serious because EU President Jean-Cleaude Juncker just dropped The Big Lie. He proclaimed that "pension cuts were not in the creditors proposals" which as many pointed out is a total lie and then said: "You shouldn’t commit suicide because you're afraid of dying. You should say 'yes' regardless of what the question is." Got that Greek Grandmas - Vote YES no matter what you think - that's how EU democracyu works... Video at the link, in French anyone translate? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 29, 2015 Share Posted June 29, 2015 Juncker To Greece: "Don't Commit Suicide Just Because You Are Afraid Of Death" We now know it's serious because EU President Jean-Cleaude Juncker just dropped The Big Lie. He proclaimed that "pension cuts were not in the creditors proposals" which as many pointed out is a total lie and then said: "You shouldn’t commit suicide because you're afraid of dying. You should say 'yes' regardless of what the question is." Got that Greek Grandmas - Vote YES no matter what you think - that's how EU democracyu works... Video at the link, in French anyone translate? Who voted for this bloke ? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 29, 2015 Share Posted June 29, 2015 FTSE doing remarkably well. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted June 29, 2015 Share Posted June 29, 2015 Greece has been badly governed and Syriza has not been an improvement. I suggest you read the troika's proposals. A lot of it is just no-brainer good governance that a competent administration would be doing regardless. May well be ,but with out a debt write down it would still be futile, and refusing to comply is the only thing they have left to bargain with when it comes down to having the debt reduced,which is the last thing the EU/creditors wanted to do for obvious reasons Quote Link to comment Share on other sites More sharing options...
winkie Posted June 29, 2015 Share Posted June 29, 2015 Greece is an example of how responsible lending should not be done.......greed only means due diligence flies out the window.....moral hazzard of doing business badly. Quote Link to comment Share on other sites More sharing options...
thehowler Posted June 29, 2015 Share Posted June 29, 2015 Merkel press conference, she's keeping her powder dry for the bailout expiry tomorrow, no talk of another EU meeting and a fat emphatic YES/NO to being in the Euro when it comes to the referendum. Problem with Tsipiras and Varoufakis is that they might be refreshingly smart, savvy and principled but these are worthless values when it comes to statecraft. They can stamp feet and smash plates as much as they want about this referendum being about the troika offer and not Euro membership but it's a pedantic schoolboy distinction - not to mention that it's disingenuous, based on their hopes and expectations rather than any real political document. TPTB are working the rhetoric on the referendum and Greek appeals for fair play are admirable but absurd. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 29, 2015 Share Posted June 29, 2015 What impact do the good folk here think a Grexit will have on the UK ? Are we heading for CreditCrunch2015 ? Are we heading for bank closures, worst case ? I've said a couple of times, this year has the 2007 feel about it. Insane house asking prices. Some people professing to doing well. Loads of new cars about, It's boom time. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 29, 2015 Share Posted June 29, 2015 Nah, I don't think that much will happen. I was hoping for more of a buy the dip opportunity this week. It already is looking doubtful. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 29, 2015 Share Posted June 29, 2015 Nah, I don't think that much will happen. I was hoping for more of a buy the dip opportunity this week. It already is looking doubtful. Im waiting for...buy the collapse. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 29, 2015 Share Posted June 29, 2015 FTSE less than 1% down....everything must be fixed, that didnt take long. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 29, 2015 Share Posted June 29, 2015 FTSE less than 1% down....everything must be fixed, that didnt take long. Global X FTSE Greece 20 ETF (GREK) down 16% today.http://finance.yahoo.com/echarts?s=GREK+Interactive#{%22range%22:%222y%22,%22allowChartStacking%22:true} Not sure why this is called the FTSE Greece - it is not a Sterling fund is it? Quote Link to comment Share on other sites More sharing options...
winkie Posted June 29, 2015 Share Posted June 29, 2015 Usually it is those with the most that have the most to gain.....looks like it could switch to those with the most have the most to lose....swings and roundabouts. Quote Link to comment Share on other sites More sharing options...
thehowler Posted June 29, 2015 Share Posted June 29, 2015 That snappy referendum question, translated: Should the agreement plan that was submitted by the EC, the ECB and the IMF to the Eurogroup on 25 June 2015, consisting of two parts which are their integrated proposal, be accepted? The first document is titled "Reforms for the completion of the current plan and beyond" and the second "Preliminary debt sustainability analysis.""Not approved/No -- Approved/Yes. Quote Link to comment Share on other sites More sharing options...
slawek Posted June 29, 2015 Share Posted June 29, 2015 EURUSD is back to Friday's levels Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 29, 2015 Share Posted June 29, 2015 No mention of X factor...how can anyone make a decision without a studio audience? Quote Link to comment Share on other sites More sharing options...
R K Posted June 29, 2015 Share Posted June 29, 2015 Janus Capital @JanusCapital 1m1 minute ago Gross: Pride and an ignorance of economics goeth before a fall. Reparations and austerity for Greece will cost the EU big-time. This. Quote Link to comment Share on other sites More sharing options...
thehowler Posted June 29, 2015 Share Posted June 29, 2015 Draghi's magic pot of QE gold will take care of any eventuality. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 29, 2015 Share Posted June 29, 2015 No mention of X factor...how can anyone make a decision without a studio audience? Did you see Eastenders last week ? Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 29, 2015 Share Posted June 29, 2015 Draghi's magic pot of QE gold will take care of any eventuality. Apart from the one where there are a million anglry people outside of the ECB offices. It's time for the governments to clamp down on the bankers. The tail should not be wagging the dog. Quote Link to comment Share on other sites More sharing options...
slawek Posted June 29, 2015 Share Posted June 29, 2015 Greece should sue ECB in ECJ for not providing liquidity during a run on a bank. To avoid argument about banks being bankrupt they should create a new bank and move there good assets. Other option is to sent its pensioners to Frankfurt. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 29, 2015 Share Posted June 29, 2015 Greece should sue ECB in ECJ for not providing liquidity during a run on a bank. To avoid argument about banks being bankrupt they should create a new bank and move there good assets. Other option is to sent its pensioners to Frankfurt. And we should all sue the central bankers for "providing liquidity during a run on a bank". If you're bankrupt you're bankrupt. Using other peoples money to keep your company going is just plain old FRAUD. Quote Link to comment Share on other sites More sharing options...
slawek Posted June 29, 2015 Share Posted June 29, 2015 (edited) And we should all sue the central bankers for "providing liquidity during a run on a bank". If you're bankrupt you're bankrupt. Using other peoples money to keep your company going is just plain old FRAUD. Every bank is insolvent, that is how the current banking works. There is no bank which could survive a run on the bank without CB providing liquidity or using confidence tricks. ECB paying a fair price for bank assets is not a fraud. Edited June 29, 2015 by slawek Quote Link to comment Share on other sites More sharing options...
copydude Posted June 29, 2015 Share Posted June 29, 2015 Greece is an example of how responsible lending should not be done.......greed only means due diligence flies out the window.....moral hazzard of doing business badly. You are quite right . . . and in 2013, the IMF issued a huge mea culpa. Fuzzy math, wrong multipliers, projections that were 100% wrong etc. Christine Lagarde's excuse, at the time, was that the risk of contagion was very great and time was short. It is interesting to re-read those files. The IMF was trying to disassociate itself with its own version of reforms . . . also known to throw millions on the poverty scrap heap . . . and the EU's policies of 'austerity at any cost'. So one wonders why the IMF has been quite so 'Greece destructive' in the current negotiations. Maybe it is geopolitics. Apparently. Victoria Nuland told Obama that Putin was 'fixed' and skint, so f*ck the Greek pensioners. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.