Posted on 06/28/2015 10:10:25 AM PDT by tcrlaf
Greece banks to stay closed on Monday, Piraeus Bank chief says, after emergency meeting in Athens
This breaking news story is being updated and more details will be published shortly
(Excerpt) Read more at bbc.com ...
Stavros! Nick! Yanni! Now wait... now listen... now listen to me. I beg of you not to do this thing. If the EU gets hold of this Building and Loan there’ll never be another decent house built in this country. They’ve already got charge of the bank. They’ve got the bus line. They’ve got the department stores. And now they’re after us. Joe, you lived in one of their houses, didn’t you? Well, have you forgotten? Have you forgotten what they charged you for that broken-down shack? Here, Constantine. You know, you remember last year when things weren’t going so well, and you couldn’t make your payments. You didn’t lose your house, did you? Do you think the EU would have let you keep it?
Yesterday’s Eurogroup meeting REALLY pi***d the Greeks off, it appears. From BI:
“...After the Eurogroup meeting broke and Varoufakis learned they would reconvene without him, he asked for clarification on the legal basis for this and was told:
“‘The Eurogroup is an informal group. Thus it is not bound by Treaties or written regulations. While unanimity is conventionally adhered to, the Eurogroup President is not bound to explicit rules.’ I let the reader comment on this remarkable statement.”
The significance here is that the Eurogroup, and really the euro project more broadly, is seen as a democratic institution.
In Varoufakis’ estimation, then, the group then going ahead an deliberating on the future of Greece without Greece sitting at the table is a fundamental break with what Varoufakis sees as the organization’s purpose...”
Remember, The ECB,EU,IMF have a lot more to lose from a Greek Default, than Greece itself does, at this moment.
Greece is basically a third world country and is likely to exit the EUR currency pact.
Spain will likely follow them.
The EUR experiment was failed from the start and while it’s taken sometime, it’s demise is inevitable.
German nationalism and French elitism will take center stage before long.
It’s going to get really ugly.
Skai TV has gone live, expecting Tsipras to speak at any minute
I’m not so excited about that part if its true, but “stuff” happens.
Batten down the hatches?
From IG:
Sunday Wall Street
17645.0
17673.0
-309.0
Sunday Germany 30
11025.7
11055.7
-509.0
Sunday FTSE 100
6545.3
6559.3
-206.0
BLACK MONDAY coming?
Be long the US Dollar.
Gregor Peter 2 minutos
GERMAN VICE CHANCELLOR GABRIEL SAYS EU FACES BIGGEST CHALLENGE SINCE ROME TREATY
As in 100:1
Its time to think and rethink one’s financial posture.
Yes ... they will announce they do not want to pay back any debt and expect more free money.
Shorting Eur/USD, or EUR/RUB is too good to pass up at this moment.
There a a lot of reasons for this clusterbleep - the Euro was a horrible idea, the predatory way the emergency loans were structured etc. But the bottom line is that this is a Greek tragedy mostly of their own making. You can’t run a country that promises everyone a minimum standard of living and government pensions for all while no one pays taxes.
“The problem with socialism is that sooner or later you run out of other people’s money to spend. “ -Margaret (Baroness) Thatcher
Oh Good
Financial armageddon in Europe
Meanwhile, back in the the U.S., the political class is obsessed with legitimizing buggery
What great Leaders we have
Here’s my shocked face :-O
Obama says, “If you want your money, you can get your money” ..........”just not right now... we’re gonna have to make some adjustments.”
As in 100:1”
Cyprus was a test, Greece is about to be a bigger test.
Make no mistake, the banksters are watching this closely, and taking notes. the Central Banks debt bomb is just too big to be “Solved” using “Normal measures”.
The currency markets open up at 5pm est. IIRC.
First action will by when Sydney opens.
http://www.forexfactory.com/market.php
“Greece is basically a third world country”....with the oldest population in Europe....
“Greek Pensons, Why they are a flash point” The Economist
http://www.economist.com/blogs/freeexchange/2015/06/greek-pensions
Twitter:
“EUR/USD RATE QUOTED AT 1.10”
It closed Friday at 1.1165 A drop of .1165 already.
Coincidently, (or not), the BRICS/SCO starts on 8 July...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.