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EL-ERIAN: 10 things you should know about the crisis in Greece
Business Insider ^ | 20 June 2015 | Mohamed El-Erian

Posted on 06/20/2015 4:24:10 AM PDT by fella

Here is what you need to know now as Greece enters a pivotal week in its testy relationship with the Eurozone:

1. Greece’s most immediate – as in first thing Monday morning – source of danger is its banking system. To compensate for accelerated deposit flight, the European Central Bank injected additional emergency funding on Friday to allow the banks to open on Monday. With a lot more needed, the ECB will grow more hesitant to pump in new money unless the Greek government secures an agreement with its European partners and the institutions through which they operate (the European Commission, the ECB and the International Monetary Fund).

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy
KEYWORDS: 2ndamendment; agitprop; alexistsipras; banglist; charleston; elerian; europeanunion; greece; greececrisis; grexit; mohamedelerian; naacp; secondamendment; shariah; shariahlending; southcarolina; syriza
They've kicked the can down the road for this weekend so watch for financial fireworks next week.

This article was written by one of the muslim invaders so that must be taken into consideration.

1 posted on 06/20/2015 4:24:10 AM PDT by fella
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To: fella

Or. “Eventually you run out of other people’s money.”

When you do, you either pay the piper or go take somebody else’s money by force. Which isn’t really an option for the Greeks.


2 posted on 06/20/2015 4:26:33 AM PDT by Sherman Logan
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To: fella
They've kicked the can down the road for this weekend so watch for financial fireworks next week.

This article was written by one of the muslim invaders so that must be taken into consideration.


This isn't on the US media, seems kind of strange that every time there is news of the coming collapse of the financial system we have a kid, high on prescribed mind altering drugs, killing a bunch of people.

3 posted on 06/20/2015 4:29:57 AM PDT by The_Republic_Of_Maine (In an Oligarchy, the serfs don't count.)
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To: fella

With a lot more needed, the ECB will grow more hesitant to pump in new money unless the Greek government secures an agreement with ........


Oh, please. This charade has been going on for 6 years now. The Greek government is not going to stick to any agreement they make. The common sense thing to do would be to let ‘em default, exit the Eurozone and move on.

But I predict that won’t happen. Everyone is terrified of the consequences of any country leaving the Eurozone. So the charade (bailouts) will continue.


4 posted on 06/20/2015 4:32:51 AM PDT by rbg81
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To: fella

Per capita debt places Greece at #12 in the global scorecard. The US is # 3 thanks to Obama and the GOPe.

http://www.bloomberg.com/visual-data/best-and-worst/most-government-debt-per-person-countries


5 posted on 06/20/2015 4:52:12 AM PDT by outofsalt ( If history teaches us anything it's that history rarely teaches us anything.)
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To: fella

My best guess is the EU will cave. They are, after all, just cheese-eating surrender monkeys in the end.


6 posted on 06/20/2015 4:56:28 AM PDT by AdaGray
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To: fella
This article was written by one of the muslim invaders so that must be taken into consideration. 

Mohammed El-Erian is from the Muslim faith (whether or not he is one is a different question), and he is also a liberal (at the very least closely associated with Obama). However, he is also someone who is taken VERY seriously in investment circles, and his views on a matter are considered important. Not only was he heading PIMCO (which had a couple trillion - that's a T - dollars of assets under management), but he has headed Harvard's endowment program, and been a top dog at both Citi and the IMF.

My point is that his views are not careless mutterings in the dark.

With that said, Greece is in terrible trouble, and lots of people will lose money in the next 48 hours (and lots of people will make money too ...I have a play that I hope will put me in the latter group).

7 posted on 06/20/2015 5:15:58 AM PDT by spetznaz (Nuclear-tipped Ballistic Missiles: The Ultimate Phallic Symbol)
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To: fella

Still have a few drachmas from a visit to Greece years ago.


8 posted on 06/20/2015 5:30:10 AM PDT by Will88
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To: spetznaz
If the EU bankrolls Greek banks again, how much of that money is going to be taken out by Greek citizens, converted into something safe, and stashed somewhere as the crisis plays out?

Is it possible that if Greece says "no thanks", refuses to pay back the loans that are slavery and leaves the EU that the money that's stashed away could be used to reignite the economy?

The only people benefitting from globalism are the globalists. They're impoverishing everyone else, except for the pols they buy off.

9 posted on 06/20/2015 6:07:47 AM PDT by grania
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To: fella

A muslim invader?

Really?

You need to do some homework.


10 posted on 06/20/2015 6:08:23 AM PDT by Vermont Lt
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To: The_Republic_Of_Maine

“This isn’t on the US media”

True, reminds me of an article last year showing Time magazine covers in the USA vs the rest of the world

As to Greece, I’m sure they’ll find a last minute reprieve, but eventually their going to make a mistake with keeping juggling balls in the air, if Europe does get spooked with the banks, things might tip, but the big money should already be accounted for, they’ve had years to see it coming,

I remember back in the early eighties when Greece was allowed to enter the EU, many knew at that time they should not have been allowed in,

El-Arian quit PIMCO a year or two back to spend more time with is daughter I believe,


11 posted on 06/20/2015 7:03:49 AM PDT by captmar-vell
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To: fella

Greece has repeatedly refused the austerity package that would be required to get them back on their feet. They are not going to do it. Greece is the first country that will leave the EU. They will go back on the Drachma and it will take them 10-15 years to make any meaningful recovery. The EU is going to break up its just a matter of what moment in time or more likely a slow unraveling as the weakest countries exit one at a time.


12 posted on 06/20/2015 8:17:10 AM PDT by Georgia Girl 2 (The only purpose o f a pistol is to fight your way back to the rifle you should never have dropped.)
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