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Tag Archives: default
The Test Of Central Bank Omnipotence May Be Upon Us.
The Test Of Central Bank Omnipotence May Be Upon Us. Suddenly what was discounted as a potential “isolated event” has come full circle to show just how contagious it may very well be. e.g., Greece. Over the last few months the financial media has not only turned deaf ears to the drama, (out of boredom) they […]
Greek Capital Controls Begin: Greek Banks, Stock Market Will Not Open On Monday
Greek Capital Controls Begin: Greek Banks, Stock Market Will Not Open On Monday Update 2: Greece’s Skai reports that if/when banks reopen (supposedly on Tuesday), a 60€ withdrawal limit will be imposed. Update: In a televised address to the nation, Greek PM Alexis Tsipras assured Greeks that their deposits are safe despite an upcoming bank holiday and […]
I Fear The Greeks, Even When They Bring Gifts
I Fear The Greeks, Even When They Bring Gifts Just another normal morning at the Automatic Earth. Shaking off the local drink – when in Rome.. – and perusing a thousand views and pieces, many on the inevitable topic of ‘Da Referendum’. And I got to say, I can’t even tell whether it’s just me, […]
“Critical” Debt “Domino Chain” Threatens To Destabilize China’s Financial System, SocGen Says
“Critical” Debt “Domino Chain” Threatens To Destabilize China’s Financial System, SocGen Says Since the beginning of March when we first explained why QE (or at least some manner of “unconventional” monetary policy) may be inevitable in China, we’ve tracked developments around the country’s local government debt refi effort closely. For those in need of a […]
Greece Invokes Nuclear Option: Tsipras Calls For Referendum
Greece Invokes Nuclear Option: Tsipras Calls For Referendum Update: Greek PM Alexis Tsipras has announced a referendum in a televised speech to the nation after another day of fractious negotiations with creditors closed without a deal. The dramatic move comes after Athens rejected a proposal from the troika aimed at delivering some €16 billion in aid […]
Troika Offers Greece Third Bailout Program, Prepares Emergency Plan If No Deal
Troika Offers Greece Third Bailout Program, Prepares Emergency Plan If No Deal On the heels of Thursday’s failed Eurogroup meeting and heading into what is again being presented as an all or nothing, “Lehman weekend” for Greece and its creditors, reports suggest the troika has offered Greece a third bailout program: GREEK CREDITORS OFFER EU15.5B […]
EU’s Tusk To Greece’s Tsipras: “Game Over”
EU’s Tusk To Greece’s Tsipras: “Game Over” Brinksmanship is building: *GREEK OFFICIAL SAYS TUSK TOLD TSIPRAS AT EU SUMMIT “GAME OVER” *GREEK GOVT OFFICIAL COMMENTS IN TEXT MESSAGE *TSIPRAS TOLD TUSK AT EU SUMMIT “THIS ISN’T A GAME”: OFFICIAL *TSIPRAS SAID AT SUMMIT CREDITORS’ PROPOSALS EXTREME: OFFICIAL *GREECE-AID DEAL IS MATTER OF POLITICAL WILL: GREEK […]
Greece illustrates 150 years of socialist failure in Europe
Greece illustrates 150 years of socialist failure in Europe Greece cannot pay its debts…ever. Nor can several other members of the European Union. That’s why Europe’s elite are loath to place Greece in default. If Greece is allowed to abrogate its debts, why should any of the other debtor members of the EU pay up? […]
The U.S. And EU Will Collapse Regardless Of Economic ‘Contagion’
The U.S. And EU Will Collapse Regardless Of Economic ‘Contagion’ In order to understand what is really going on around the globe in terms of the collapsing economy, we must set aside false mainstream versions of reality. When it comes to the EU and its current fiscal turmoil, it is very important to, in some […]
Greece Rejects “Totally Unaccepetable” IMF Counterproposal Demanding Pension Cuts, VAT Hike
Greece Rejects “Totally Unaccepetable” IMF Counterproposal Demanding Pension Cuts, VAT Hike As reported earlier and as tipped here on Monday, markets will have to call off the party for now because the focus of the Greek debt deal negotiations has now shifted back to Brussels after all eyes had turned briefly to Athens on Tuesday […]
“No Deal”: Tsipras Says Creditors Did Not Accept Greek Proposal
“No Deal”: Tsipras Says Creditors Did Not Accept Greek Proposal Who could have possibly foreseen that the IMF would throw up all over the Greek “proposal”… aside from this post here “Why The IMF Will Reject The Latest Greek Proposal In Just Two Numbers” yesterday afternoon of course. In any event, moments ago Bloomberg reported that just […]
When Bonds Go Kaboom!
When Bonds Go Kaboom! We’re not the only ones giving Neanderthal advice about holding on to physical cash. British newspaper the Telegraph reports: The manager of one of Britain’s biggest bond funds has urged investors to keep cash under the mattress. Ian Spreadbury, who invests more than £4bn of investors’ money across a handful of bond funds for […]
The Only Good Deal For Greece Is NO Deal
The Only Good Deal For Greece Is NO Deal The only thing that would really go towards beginning to solve the problems with Greece is for Athens to NOT sign a deal. The short version of why that is so: it would leave the EU intact for longer. And the ECB. Neither have any viable […]
Does The IMF Actually Want To Cause A Greek Debt Default?
Does The IMF Actually Want To Cause A Greek Debt Default? When it comes to geopolitics, there are often wheels working within wheels that are working within wheels. Once in a while we get a peek behind the scenes, but for the most part the machinations of the global elite remain shrouded in mystery most […]
Geopolitics Will Trump Economics in Greece
Geopolitics Will Trump Economics in Greece Based on the continued failure of the negotiating parties to make any substantive progress in the talks over Greek debt payments, the financial world is tied up in knots over a possible Greek exit from the European Union. The uncertainty has manifested in both high and low finance, with […]
