Monday, June 28th, the banks will all be closed. Greece may exit the eurozone and may also exit the EU. Source: http://www.bloomberg.com/news/artic...sh-greece-counts-on-ecb-to-avert-black-monday Full article (quoted): If you don't hold it, you don't own it! :| Could Greece be the "first brick to fall" in the EU? Several major Greek banks and other companies have strong influence in the Balkans - other countries in the region may be strongly affected (indirectly) by whatever will happen in Greece. I am thinking of the countries in the Balkans, north of Greece (former communist countries), but I'd also add Cyprus. If those countries are affected because they have sizable Greek investments, they will also affect other countries further north, west etc. The crisis could propagate further into Central Europe and why not, the West? I can imagine a domino effect. I just hope the situation is not that bad.
^ My guess is it could start climbing as soon as tomorrow. This should have the same "safe haven" effect it had back in early 2013, when the Cyprus bank holiday occurred.
I think the us dollar will rise on safehaven.The au $ will therefore fall, causing gold in aud to rise.
I think you nailed it Peter. Gold is not going to climb . but the USD will . The USD will be the safe haven here NOT OUR GOLD AND SILVER.
Greek prime minister Alexis Tsipras has announced the country's crisis-hit banks and stock exchange will be shut on Monday, pleading for calm after anxious citizens emptied ATMs in a dramatic escalation of the country's debt crisis. In a statement, Mr Tsipras said the Bank of Greece had recommended a 60-euro ($87) restriction of bank withdrawals after international creditors refused to extend the nation's bailout beyond its June 30 expiry date, sparking default fears over an IMF loan repayment due the same day. Amid growing concern the country was headed for financial collapse and a possible eurozone exit, the European Central Bank (ECB) said earlier on Sunday it would not increase its financial support to Greek banks. In a bid to stave off panic, Mr Tsipras said the stock market would remain closed on Monday and he added that Athens had again asked requested a "prolongation of the [bailout] program". ABC news .............. The Frankfurt-based ECB's governing council earlier held a crisis telephone conference and pledged to maintain emergency liquidity assistance -- keeping open its life-support for Greek banks and, by extension, the Greek state. But it pledged no extra cash for banks, amid signs a bank run was gathering pace.
Some major companies are pulling out of Greece because they are not getting paid. The ones I know of are analyser suppliers who have equipment in Greek Hospitals. The bills aren't getting paid so they are withdrawing support for the machines and withdrawing from Greece. More unemployment. You expect Greek companies to be hit but you would think overseas companies would be ok, I guess if they aren't being paid there is no point in staying though. So is Greece producing enough food for themselves? How long before overseas suppliers decide that they will no longer supply food to Greece, and how long before they run out?
Surely the market has factored this in for like...how many years??? As for prices...there's plenty of Greek folk that wish they had physical silver or gold, same for Russian, Molodovan, Zimbabwe, Argentina folk etc. Silver and gold is the ticket.
Greece has the Eastern option open. Get into bed with the Brics and give Russia and China Mediterranian ports and pipelines. Put that in your pipe and smoke it Mr Obama and Ms Merkel.
By the look of the after hours trading this HAS NOT BEEN FACTORED IN. Everyone (including me ) was expecting some BS last minute fix . It is still not to late,but i never expected Greece to default (and they have not yet) 7 hours from now people will be lining up at banks and demanding they open and give them their cash, and if they aint got cash they cant give SQUAT. This could smooth out BUT it may get very brutal for Greeks and possibly other nations if an "over looked contagion" event occurs. They all say that Greece is quarantined and that no contagion event is possible, but this is coming from the same people that brought us the GFC. I believe ZERO from what these politicians and bankers say, i will ONLY BELIEVE WHAT I SEE WITH MY OWN EYES. Asia opens in 50 minutes and we shall see what happens
Greek citizens have had many months (even years) of warnings. By now, most of them should have only a small amount cash in banks.
Do not underestimate the stupidity and ignorance of the masses Many people will not have known that their money was going to be in danger.
And there's always a reasonable percentage of people who believe the government and think the warnings are just hyperbolic rants. Also anyone in Greece still getting paid by direct deposit would have money they'd be regularly trying to pull out of the banks.
They do if you're paying a substantial mortgage. The offset money is saving mortgage interest, all tax-free.
Well if we see cars burning, and people rioting in Greece. Those are the ignorant ones. Any bets on when we'll see the first banking riots in Greece?
IN ABOUT 8 HOURS. I am thinking it will all start half hour or so after the banks were "supposed" to open. There are always groups that look to take advantage of any situation to create mayhem, and it will only take a small group of 10-15 people to start smashing things and that will get the ball rolling. Hope i am wrong , but suspect i am right. You all know what i mean surely? That bunch hooligans that cause trouble and WOULD NORMALLY be reported to police and arrested will now BE HELPED by those that would have normally done the reporting
