Eurozone debt crisis

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hgodden
Posts: 1759
Joined: Thu Apr 16, 2009 2:13 pm

marksmeets302 wrote:Very surprised "Grexit - Yes" is trading at implied chance of around 35%

Many banks say they value a grexit at 80% to 90%.
I expect the Germans and the French will eventually relent enough and work out some sort of deal which will be better for Greece, they'd be seriously worried if Greece started recovering outside the eurozone and then Italy and Spain started taking notice.
Hambleden
Posts: 32
Joined: Mon Jul 07, 2014 10:12 am

Yes hgodden..very good point...hadn't thought of that!
They might too...and that wdn't do at all for Ms Merkel &
Junker!! :shock:
RentonT
Posts: 201
Joined: Tue May 19, 2015 12:26 am

makes for a good read, especially the comments after the article!

I dunno but I lean towards; the banks are just a convenient scapegoat, really the problem is people wanting to spend more than they can afford, and then the governments helping them because it helps them get elected. The banks really just respond to demand and regulation and there's no one really there with any big plan. All the unaffordable mortgages that caused the financial crisis was because the US government forced the banks to give mortgages to people without jobs
poklius
Posts: 105
Joined: Sun May 17, 2009 11:58 am

No government ever forced banks to give loans. Banks are private corporations, and guess what private corporations are interested in most? PROFIT! Its all dandy at first, but things go tits up, and then its publics duty to pay all off those bad loans. Capitalizm for profits, socialism for losses. this world is fcked.
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superfrank
Posts: 2762
Joined: Fri Aug 14, 2009 8:28 pm

poklius +1

so they've finally kicked the can (as instructed by the US last week).

don't know what happened to Tsipras - he's obviously been had somewhere.

the deal is in reality a complete loss of sovereignty (they've even told them to allow Sunday shopping!) in exchange for 100 years of debt servitude.

it won't last; they'll still default sooner or later.
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marksmeets302
Posts: 527
Joined: Thu Dec 10, 2009 4:37 pm

the deal is in reality a complete loss of sovereignty
which might be a good thing for the Greek people. The greek government can't be trusted. Not by the EU and not by their own people.

I wonder how Tsipras is going to defend this deal in light of the outcome of the referendum. Democracy my ass.
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Euler
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Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

The Greek Warrior

How a radical finance minister took on Europe—and failed.

http://www.newyorker.com/magazine/2015/ ... ek-warrior
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Euler
Posts: 24701
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

The Big Short: is the next financial crisis on its way?

Steve Eisman is short Italian banks.

https://www.theguardian.com/money/2016/ ... banks-risk
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marksmeets302
Posts: 527
Joined: Thu Dec 10, 2009 4:37 pm

could be set in motion by the Italian referendum...
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