Sunday, Jun 07, 2015

If Greece fully defaults, we will be completely Swiss Cheese'd.

Telegraph: Tracker mortgage rates drop below 1pc for first time

These rates, in part, are this low because of capital flows from the Eurozone into the perceived safe haven of London, because unlike Germany, it actually is a hedge against the Euro, like Swiss negative rates. This could fully reverse if Germany & France decide to be neighbourly & help out their 'buddies' in Greece, whom they became wed to. However, rather than seek a divorce, they would rather have the Grecian Gods & Goddesses in bondage, subjected to marital violence. Pushing Greece inexorably into a financial safe house from Russia, Quatar, or wherever. The latter is inevitable if Germany refuses to absorb Greece's debts, as it did when it welcomed East Germany back from the fold. If they refuse, confidence in the Euro will ebb, & capital flows will reduce UK & US yields.

Posted by libertas @ 08:28 PM (5088 views)
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1. jack c said...

The Telegrath headline is factually misleading (See comments section below the article itself)

Sunday, June 7, 2015 09:05PM Report Comment

2. mister ed said...

I liked the bit about "marital violence". Comic genius. Almost as good as 3.5% annual increases in wages lead to 10% annual increases in house prices.

Sunday, June 7, 2015 09:32PM Report Comment

3. jack c said...

@ mister ed - I've just watched a re-run of Pretty Woman (Julia Roberts) but a strange thing happened at the end when the Chauffeur shouted out "welcome to Enfield"

Sunday, June 7, 2015 10:05PM Report Comment

4. killer bunny said...

It won't. So we won't.

Monday, June 8, 2015 10:18AM Report Comment

5. phils said...

Greece is small beer but they don't want the Euro to break up. The Germans will give in.

Friday, June 19, 2015 02:11PM Report Comment

6. This comment has been removed as it was found to be in breach of our Blog Policies.


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