When the banks go dry its game is over for Greece. Could see a huge market sell off on Monday.
A staggering 800 million euro has been pulled out of Greek banks in less than 48 hours, sparking fears of a major bank run. And more capital outflow is expected next week but on a larger scale. Sure looks like the stuff hits the fan next week as Greece defaults on IMF payment and then tries to roll future payments into one big ball that will never be thrown anywhere except into a dumpster.
as Mattress sales are exploding in Athens. Always good to hide your money under your Greek mattress since its FDIC insured if the mattress is made in the U.S.A.
and just yesterday Tsipras was boasting a deal would be done by the weekend. This game of "Chicken" is getting real old, but the market seems to think the Greeks call the shots and not the other way around. Correction time approaching even if the Greeks want to sugar coat their upcoming Default day in day out.
Seems time has run out on Greece and now its just a question of when the country becomes the kissing cousin of Argentina. Ugly kissing cousin that is.
Could we see the Euro drop below the dollar next month? You have to wonder.
The Bank of England plans to assess the implications of a possible British exit from the European Union, it said in a statement, confirming an email it inadvertently sent to a newspaper about the supposedly confidential research project. The Guardian reported that an aide to a senior Bank official said in the email the project should be kept secret from most BoE staff and any journalists asking about it should be told the Bank was looking at a broad range of European economic issues.
Well if they do kick the can down the road they better keep their boots on since the other PIGs will also want free Euros, bloated pension programs and early retirement for those over forty. Interesting how majority of European economists want Greece out while European world leaders can fathom the thought of Greece leaving the Euro. Economists see reality while Politicians look the other way and add more debt to the books.
Greece and its creditors are not in talks on extending the country's bailout until the autumn, with negotiations focused on meeting the program's conditions by the time it expires in June, a senior European Commission official said. Of course in two week Greece default but hey - it looks good on paper to consider bailout option in Autumn. Tick, Tock, Tick, Tock,
since you give us nothing. Going to get ugly going forward and Spy will suffer from Europe volatility.
Parliamentary speaker Nikos Filis, from the ruling Syriza party, told ANT1 television, "If there is no deal by the end of May then that will address the current funding problem, they (the IMF - ECB) won't get any money. There is no money for the foreign (lenders) when they have not given us any funds for a year,” Filis said.
but why should Greece worry when Prime Minister. Finance Minister say deal will be done (in their dreams) is ten days or less. Bluff, Bluff, Bluff.
Lefteris Farmakis, an economist at Nomura in London said, the European Central Bank could soon run out of patience. “Next week, it’s quite likely,” Mr. Farmakis said, that the Governing Council will impose stricter conditions on lending to Greek banks, unless there is more progress toward a deal between Athens and its creditors. And he was reluctant to rule out action by the central bank this week.
Was it strong Housing numbers that will forced the Fed to jack rates in September or sooner?
Or understanding now that Greece is ten days away from Default?
Pick your poison (longs).
Agree - and what better way to stab Europe in the back then become a "satellite state of Russia" and say good bye to the Euro for good. Cyprus already lets Russian warships dock on their island and Greece soon to follow. Slime balls.
Bull getting tired running higher for no reason while the Bear wants to eat Greece for breakfast and the Fed for lunch. September rate hike getting closer day by day but can "shorts" hold out that long????
Then came today's big news: The New York Times reported that Saudi Arabia and other Arab countries intend to match Iran's nuclear capacity if the US reaches a deal that allows some aspects of the country's nuclear program, including uranium enrichment and ballistic missiles research, to continue.
What a Great President we have. He could of taken the easy way out and taken out Iran's nuke sites with the help of Saudi Arabia and Israel. Fly some buster bombs in and level their nuke sites. Simple. Now due to his idiot negotiations with the terrorists Iranians over development of nuclear weapons - half of the Middle East is going arm up with Nukes to equalize Iran.
Thanks a lot Obama.
Looks like an easy double to me - If Cisco, IBM, Apple, Msft, etc. make a play for this company. With cyber security attacks here for the near term and long term big companies need to protect their assets. NOW
While businesses are spending more on information security, FireEye itself has spent heavily on research, development, sales and marketing. Analysts expect it will post losses for one more year. ''No one can deny they are a clear leader in cybersecurity and ultimately the company could be viewed as a top acquisition for a large company such as a Cisco or an IBM.'
Greece has to collect more debt to pay off massive debt. What a way to run a country, especially when the country has been broke for the last decade.
“The Greek newspaper Kathimerini is reporting that Greece used up some IMF reserve funds to make the payment. However, these reserves must be replenished within a month and were it not for permission being granted by the IMF for the reserve to be used, Greece would have been unable to pay yesterday.
So IMF says - sure take more IMF money to pay off your debt and come back in 3 weeks and borrow another 3 billion to pay off your July IOU. What a "F" Joke.
Down she goes tomorrow (and it could be a hard landing).
Asian stocks edged lower and the euro sagged on Tuesday as insufficient progress on talks between debt-strapped Greece and its creditors kept investors on edge.
NATO secretary general slams Russia's continuing support of separatists in Ukraine and
In a bid to reduce the chances of escalating military confrontation and miscalculation as conflict surges in eastern Ukraine, the western military alliance has revived cold war-style hotlines to the Kremlin and the Russian general staff in Moscow.