If you want to be scared, truly terrified, listen to Mark J. Grant… For the last two years, Mr. Grant, a managing director based in Florida at a regional investment bank, has been predicting the bankruptcy of Greece and a cascade of chaos across the global economy, attracting quite a following on Wall Street in…
Tag Archive for Drachma
European Crisis
Got Cash in Greek Banks? Don’t Pull It! – CNBC
by Newswires • • 0 Comments
At any given time, then, there will be a sizable amount of euros flowing into Greek bank accounts. Even if some of this is immediately withdrawn and sent abroad, a snap shot of the Greek banking system will make this flow of deposits appear to be a steadfast stock. But there’s another reason some Greeks…
Contributors- Economic and Financial, Must Read
The End Of The Euro: A Survivor’s Guide
by Simon Johnson • • 0 Comments
By Peter Boone and Simon Johnson In every economic crisis there comes a moment of clarity. In Europe soon, millions of people will wake up to realize that the euro-as-we-know-it is gone. Economic chaos awaits them. To understand why, first … Continue reading →
Money Morning, Must Read
Eurozone Debt Crisis: What to Expect if Greece Dumps the Euro
by Diane Alter • • 0 Comments
The only certain thing if Greece leaves the Eurozone is the uncertainty that will certainly follow.
Unable to form a coalition government during May elections, Greece has been forced to hold a second vote on June 17.
In the balance is the future of the Eurozone itself as a “Grexit” looms large.
So much is riding on the outcome that U.S. President Barack Obama and other leaders of the G-8 have conveyed their optimism that Greece will remain in the Eurozone when they convened for a summit on Saturday aimed at keeping Europe’s economic woes from stretching around the globe.
“All of us are absolutely committed to making sure that growth and stability and social consolidation are part of an overall package,” President Obama said.
But many other principals and economic experts are not as committed and believe a Greek exit would be the best move in the long run.
The question is what impact its departure will have beyond its own ailing borders if Greece renounces its debt and leaves the Eurozone.
Latest Business Headlines
Greek euro exit looms closer as banks crumble – Evans-Pritchard- Telegraph
by Newswires • • 0 Comments
Economists warned that the Greek financial system could crumble within weeks or days unless the European Central Bank steps up support. President Karolos Papoulias told party leaders that banks had lost €700m in withdrawals on Monday alone as citizens rush to pre-empt capital controls and a much-feared return to the Drachma. He cited central bank…
Latest Business Headlines
The slow-motion run on Greece’s banks | Brussels blog | News on the European Union from the Financial Times – FT.com
by Newswires • • 0 Comments
Jitters over whether Greece will be forced out of the euro have turned the focus of policymakers in recent days on whether Greece is on the precipice of a bank run… … a full-scale bank run would force the European Central Bank and eurozone lenders to either pump in more money – without a new…
Latest Business Headlines
Capital Controls Loom in Greece – CNBC
by Newswires • • 0 Comments
It looks increasingly likely that Greece will have to implement controls to prevent capital flight and a banking collapse. To my mind, the only real question is when this will occur. The widespread talk about Greece possibly leaving the euro zone is likely to trigger withdrawal of bank deposits and other financial assets, by those…
Bruce Krasting, Contributors- Economic and Financial, Must Read
Greece, China, and the USA
by Bruce Krasting • • 0 Comments
. On Greece
I spoke with someone from Athens today. It’s not a pretty picture.
Issues related to subsistence have replaced the fervor for demonstrations. This may not last according to this resident.
The closing of stores and shops is escalating. A…
Bears Chat, Best of the Forums
Roubini: Greece Should Default, Leave The Euro
by Bears Chat at The Wall Street Examiner • • 0 Comments
Dr. Doom has given up hope for Greece
. In an FT piece, he says it’s time for Greece to default and abandon the euro.
The basic idea — which he outlined in a research piece a piece on Friday — is that Greece under the euro will lead to years and …
