Greece may exit the Euro ?

[hhiusa]

I have hedged or exited all my positions until further notice.
When the dust settles I'll be back in, once volatility has settled down and medium term trend has established. Anything else for me at least is just gambling.

I think it is a good idea to exit your positions until Greece defaults and we can judge the fall-out.

 

[sharesr4us]

I've done the same and now hold no trades until I see some stability.

 

[Jason101]

The only sensible way forward, the exposure has the potential to be very volatile.

 

[darktone]

Greece have an amazing oppourtunity. Im curious to see what they do with it.

 

[jsc]

Of more interest to me is the fact that the timescale to the proposed Greek referendum means it is impossible to prepare everything (the relevant ballot papers and meeting points and people to count the result etc.. etc...) in the available timescale, meaning that it seems impossible to me that the referendum can go ahead at all.

I don't think the markets will like that at all.

 

[chaselancaster]

The new musical:

 

[Pat494]

The Greek tragedy is unrolling before our very eyes.

All we need is for Merkel to come out with some fatuous statement like Marie Antoinette's blunder.

 

[2be]

The new musical:

Education is expensive, lessons are costly and tuition fees are high.

This time around Greeks chose to pay this costs and have not limited the access to this theatre of life, neither are asking you a lot of money to have a look at their play, a big contemporary drama, truly in Greek style.
Please do not be mislead, it is not a free ride, it is very costly indeed, Greeks are paying the cost.

The play or lesson could well be entitled "True face of socialism, the corrupted agenda of the left"

We are well used and therefore inoculated to the plea of millions in North Korea, Venezuela, or even parts of China, where this flawed ideology is still at work.
This danger is still well spread and socialism like a bamboo shoots spreads its evil roots undiscovered for a while, then in a while takes over the whole areas.

Tsipras and his band are considering taking the EU institutions to the EU Tribunal, saying that Greece cannot be kicked out of Euro zone.
On another occasion he publicly argues that it will be to expensive for Euro lands to kick Greece out. Such great concern for the finances of other countries makes one laugh, when is the next lie coming. He already cheated Greeks, now he is of the opinion he can cheat the rest of Europe and the world.

Tsipras, where do they get them from.
His Junior schooling must have happened in Moscow still during the Soviet Era, with finishing years in Pyongyang, North Korea.

It is not that often that such drama is played alive on the world scene, take full advantage of it, and if you are not Greek, this priceless education comes almost free to you.
Hopefully many more people will once again be trained in recognising many dangers of socialism, and the deadly venom of the nice but delusional promises made by the leftists.

 

[Atilla]

Education is expensive, lessons are costly and tuition fees are high.

This time around Greeks chose to pay this costs and have not limited the access to this theatre of life, neither are asking you a lot of money to have a look at their play, a big contemporary drama, truly in Greek style.
Please do not be mislead, it is not a free ride, it is very costly indeed, Greeks are paying the cost.

The play or lesson could well be entitled "True face of socialism, the corrupted agenda of the left"

We are well used and therefore inoculated to the plea of millions in North Korea, Venezuela, or even parts of China, where this flawed ideology is still at work.
This danger is still well spread and socialism like a bamboo shoots spreads its evil roots undiscovered for a while, then in a while takes over the whole areas.

Tsipras and his band are considering taking the EU institutions to the EU Tribunal, saying that Greece cannot be kicked out of Euro zone.
On another occasion he publicly argues that it will be to expensive for Euro lands to kick Greece out. Such great concern for the finances of other countries makes one laugh, when is the next lie coming. He already cheated Greeks, now he is of the opinion he can cheat the rest of Europe and the world.

Tsipras, where do they get them from.
His Junior schooling must have happened in Moscow still during the Soviet Era, with finishing years in Pyongyang, North Korea.

It is not that often that such drama is played alive on the world scene, take full advantage of it, and if you are not Greek, this priceless education comes almost free to you.
Hopefully many more people will once again be trained in recognising many dangers of socialism, and the deadly venom of the nice but delusional promises made by the leftists.

The more this guy speaks the more damage he does?

He said vote NO to referendum and then what?

One assumes or hopes they have plans in place but it doesn't look like it. Capital controls were discussed in previous weeks and because they weren't introduced market became optimistic.

Now it transpires they had no intentions of accepting proposals or negotiating in good faith.

Well if that was their intention capital controls two weeks ago would have been a damn good idea.


Tragedy is unfolding and not looking good at all. Very sad as hope after false hope ebbs away.

 

[hhiusa]

Greece said it will sue the ECB for cutting off its emergency funds. This is totally comical.

 

[NVP]

nero couldn't have done it better now..........

 

[hhiusa]

This is what happens when socialism runs rampant. This wouldn't have happened if they stuck with capitalism. Now, they may be going one step further to the East. Has Greece really fallen that far. This sounds like the futures of all European socialist countries.


Grexit, Irexit and spexit. What will they think of next?

 

[Atilla]

nero couldn't have done it better now..........

Where are the planners and doers and the civil servants?

They should have had contingency in place so yes introduce capital controls but why close banks and ATMs.

I can only imagine because no one planned ahead. Surely this could not be their plan.

They could even introduce the Drachma tomorrow and run with dual currencies at no cost let the market decide exchange rate.

Really don't know what the big deal is? No change keep both. Pay pensions and government sector workers in Drachmas.

Quite feasible

Let the people and businesses determine what currency they choose to trade in. Gold even

 

[barjon]

They cooked the books to get in
They borrowed like a kid let loose in a sweet shop
They spend like there's no tomorrow
They can't pay their debts.
They demand to be bailed out because it's their "right" (thinks: where have I heard that before)
They try to reverse the usual conditions where the lender sets the rules
They go off in a huff because the lenders won't budge
They accuse the EU of bullying them
They demand the respect of the world for standing up to the EU bullies
They forget why they are this position in the first place,

How long before the EU coughs gently and says "That's not quite what we had in mind, old boy. I think you'd better leave the club."

Can't see it though. Everyone will finally bend over backwards to help the Greeks out of the hole they've dug. Gawd knows why.

 

[Splitlink]

The reason is Fear.

No one wants to be responsible for change. There is no one in Brussels that has the stature of de Gaulle or Thatcher and, if there were, the Union is too big and not federalised like US.

What, really, would be the outcome of a Grexit? No one knows--least of all the Greeks.

The leaders, on both sides, are going to be damned if they do and damned if they don't.

So the devil they know is better than the devil they don't.




.

 

[darktone]

They could even introduce the Drachma tomorrow and run with dual currencies at no cost let the market decide exchange rate.

Really don't know what the big deal is? No change keep both. Pay pensions and government sector workers in Drachmas.

Quite feasible

Let the people and businesses determine what currency they choose to trade in. Gold even

They sure could. The government could create its own state money, no need to borrow it. They could fund whoever and whatever with it. No interest to pay to nobody!
Be a nice touch to start a mass education program to teach the public whats what. Whack A nice big money supply clock (be a change from a debt clock) on the front of that parliament building, just so Stavros can keep an eye on his buying power.

Be no big deal at all.

I dunno about Drachma tho. New currency, new name, Phookyal perhaps??

 

[darktone]

Can't see it though. Everyone will finally bend over backwards to help the Greeks out of the hole they've dug. Gawd knows why.

Cos theres no easier way for the creditors to get there mucky hands on Greek assets I reckon Jon.

The reason is Fear.

What, really, would be the outcome of a Grexit? No one knows--least of all the Greeks.
So the devil they know is better than the devil they don't.

You got that right Split.
Know one knows granted, but as a betting man, Id go for a whole lot smoother and less painfully than the media might suggest.

 

[Atilla]

Cos theres no easier way for the creditors to get there mucky hands on Greek assets I reckon Jon.


You got that right Split.
Know one knows granted, but as a betting man, Id go for a whole lot smoother and less painfully than the media might suggest.

Surely the politicians won't allow for that!

 

[NVP]

Where are the planners and doers and the civil servants?

They should have had contingency in place so yes introduce capital controls but why close banks and ATMs.

I can only imagine because no one planned ahead. Surely this could not be their plan.

They could even introduce the Drachma tomorrow and run with dual currencies at no cost let the market decide exchange rate.

Really don't know what the big deal is? No change keep both. Pay pensions and government sector workers in Drachmas.

Quite feasible

Let the people and businesses determine what currency they choose to trade in. Gold even

from what I understand there are many many rules and regs the greeks will have to comply with under the ECB terms to reintroduce the drachma ............so they don't just soft launch / role out a parallel currency ...even though it sounds logical to us .........the last thing they need is a Zimbabwean drachma

N

 

[Atilla]

from what I understand there are many many rules and regs the greeks will have to comply with under the ECB terms to reintroduce the drachma ............so they don't just soft launch / role out a parallel currency ...even though it sounds logical to us .........the last thing they need is a Zimbabwean drachma

N

I don't think or believe either party is in a state to enforce anything upon each other other than withdrawal of support and obligation to adhere to rules by them selves.

Those agreements are not worth the paper they are written on. Otherwise as they say in the movies, we wouldn't be having this conversation now! :cheesy: