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So Who Is Vulnerable To The Greek Debacle

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Communication from France's La Banque Postale to its clients, notifying that beginning August 1, 2011, the bank will lower the weekly ATM withdrawal limit by anywhere between 33% and 50%. In brief, according to the terms of the of the bank's statement, the top tier of credit card holders, the Visa Premier, will see their weekly withdrawal limit reduced from €3000 to €1,500, while the next two tiers, MasterCard and Bleue Visa, will see their weekly withdrawal allowance lowered from €1,500 to €1,000. Lastly, the lowest tier will see its cash withdrawal drop from €1,000 to €800. Naturally if confirmed, this would not be a good sign as pertains to the bank's current liquidity situation: traditionally cutting the withdrawal cap is an indication of a substantial cash on hand scarcity. So how vulnerable are European banks to what is happening in Greece . Perhaps they want to protect themselves as the good old CDS and Specialised financial instruments unwind. :blink:

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Zu can see ze German 'master' plan und 'pincer' movement.

Smash zem wif ze IMF big guns - zen move in to make a killing!

Wall Street Journal

Greece is for sale—cheap—and Germany is buying.

German companies are hunting for bargains in Greece as the debt-stricken government moves to sell state-owned assets to stabilize the country's finances.

Deutsche Telekom AG on Monday said it would purchase an additional 10% stake in Greece's Hellenic Telecommunications Organization SA for about €400 million, or roughly $590 million, increasing the German company's ownership to 40%. The purchase of OTE, as the Greek telecom is known, will be a steal compared with the nearly €4 billion the German company has paid since 2008 to amass its 30% stake.

http://online.wsj.com/article/SB10001424052702304906004576369572348921238.html?mod=europe_technology

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Communication from France's La Banque Postale to its clients, notifying that beginning August 1, 2011, the bank will lower the weekly ATM withdrawal limit by anywhere between 33% and 50%. In brief, according to the terms of the of the bank's statement, the top tier of credit card holders, the Visa Premier, will see their weekly withdrawal limit reduced from €3000 to €1,500, while the next two tiers, MasterCard and Bleue Visa, will see their weekly withdrawal allowance lowered from €1,500 to €1,000. Lastly, the lowest tier will see its cash withdrawal drop from €1,000 to €800. Naturally if confirmed, this would not be a good sign as pertains to the bank's current liquidity situation: traditionally cutting the withdrawal cap is an indication of a substantial cash on hand scarcity. So how vulnerable are European banks to what is happening in Greece . Perhaps they want to protect themselves as the good old CDS and Specialised financial instruments unwind. :blink:

...the answer is ...the French should not wait.... withdraw now.... :rolleyes:

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  • 284 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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