https://twitter.com/hashtag/greece?src=hash Looks like no deal. Greece now has till Feb 28 to come up wth the dosh or they DEFAULT.
I heard on bloomberg the opposite half an hour ago speculation that they are moving towards a new bailout deal
http://www.independent.ie/business/...debt-deal-more-talks-for-monday-30985839.html Failed! and trying one more time on monday = exit the euro, pave the way for spain, portugal, italy and ireland 1for1
Worst case? Consider the currency serving the hundreds of millions across the 28 (-1) countries in the EU rapidly deteriorating and failing as a store of wealth. Sovereign bonds, Corporate Bonds, derivatives ... any financialised asset denominated in Euros suddenly being exposed to massive downside risks ... trying to be sold in an illiquid market ... and the contagion effects as other asset classes around the world are sold to cover losses. On the upside though, yachts and other luxuries should be cheap if you're holding an appreciating currency ... something backed by, say, vast mineral and agricultural resources in a clean, well managed country with great standards of education and healthcare, that is geographically separate but still part of the vast Asian markets and soon to be leading global economies. Edit: I didn't mean to understate the very human impact on the general population throughout Europe that will be financially devastated in a worst case scenario. It is hard to believe that we are not just witnessing a game of brinkmanship being played out in public view, though.
About bloody time......After all these years of holding off and BS bailouts its finally going to happen!
Yep so urgent they are taking a break over the weekend and back to talks on Monday Ecb could just let Greece default and then print a couple hundred billion euros to bail out the European banks for their losses - problem solved
BRICS SDR to bailout eurozone: http://philosophyofmetrics.com/2015/02/10/brics-sdr-to-bailout-eurozone/
Yep, and it doesn't fit in the scaremongering stories that serve to make people willing to buy at high / sell at low prices. What is that "Greece"? Not a country, just its government and its population selection that it sponsored. What is that "default"? In real economics, it means a corporation forced to terminate its activities, and to distribute the remaining properties under those they failed to pay the bills. In governmentics, it means that the losses, once again, get "distributed". Remember, Greeces State already got a freebie debt reduction of 50% years ago. The only thing that matters for governments is that their currencies are under control. Their "inflation" target, whatever it is. Because that keeps their wide system (of theft) afloat. Meaning: people using what they control (and frontrun), to save in. Greece is just another story in a same soap series. Why is there recently another episode? Simple: many prices / rates sit now on decade highs / lows. They need a further batch suckers to make decisions that waste the savings that the scaremongering is intended to get rid of. Remember Iceland? Remember Cyprus? Those that lost there and then, were those that did something when they read about it. Post mortem. We now read alot about Greece.
