When is a default not a default? When it’s a Greek default of course. But seriously, there seems more urgency in the Greek government now, as the ECB or the Brussels haven’t blinked and are still playing hard ball despite the non payment to the IMF.
Category: General news
Greece: Referendum Implications
If Greece votes No, it is not consistent with Greece staying in the Euro; still then the Greek government can say it was the people’s own choice…. The Euro exit door, which wasn’t supposed to exist at all, is being clearly marked.
Greece: The Reality
An unwanted week of Bank Holidays with all the banks shut, (even the National Bank of Greece in London), Capital Controls with EUR 60 a day cash withdrawal limit, although the French still say there is time for a deal, but with Greece due to make a EUR1.6bn payment to the IMF on Tuesday….. we shall see.
The EUR debt crisis and its solutions have been likened to kicking a can further down the road each time a repayment crisis loomed and the payment due was rolled up into a future one. Has Greece now reached the (dead) end of the road?
Greece: ECB to Withdraw Support for Greek Banks
News is being broken by Robert Peston that the ECB will remove the support for Greek banks, now they won’t have access to emergency lending funds to keep the banking system liquid with amount of deposits being withdrawn by customers. Capital Controls it is then.
However this does not mean that Greece coming out of the Euro is a formality, it is possible to remain in the Euro, as Cyprus has proved, but it would be very painful for the country.
Greece: A Surprise Referendum
Late last night Greek government sidestepped and called a referendum on the new bail out conditions that they don’t like. Let’s hope that the polling companies are a little more accurate than the ones that we just had during the UK Parliamentary elections.
Greece: No Further Extension
The Eurozone Finance Ministers have refused to extend the existing bailout deal, it’s heading rapidly towards crunch time for Greece.
Greece: an Analogy
I rather liked Sara Pascoe’s parody of the Greek situation comparing it to the running of a brewery and a pub, which was shown on Mock The Week last night, (series 14 episode 3, see the Link: https://www.youtube.com/watch?v=T-wiDpl_nuk at 6mins 30secs). Perhaps she should be looking for a Greek government position…..
Greece (again)
Here we go again: will they? wont they?, a “Grexit” on the cards again? as is a default to the IMF and EU amongst others? Is this ever going to be resolved? Which other EU countries will be affected?
All this creates is uncertainty and increasing volatility, good for traders but not so good for companies, governments and individuals. This makes it all the more important to identify and manage your exposures and risks.
Greece
It still rumbles on, the austerity required by the EU and the anti-austerity Greek government are at loggerheads again, or should I say still. Greece needs to unlock the bailout funds and EU is holding firm on its austerity conditions. Is this ever going to be resolved? You have to think that at some stage somebody will have to moderate and accede in order to make progress. It feels like a very high stakes game of poker, waiting for the first player to fold!
The Queens Speech
The referendum, in or out, just the way to put off foreign direct investment, or at least make them look at alternatives.
Solutions Edge 
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