There is deadlock in Brussels as Germany seems unwilling to bail out Greece and the Euro is being driven lower.
If the Greeks are unable to borrow, as their government warns, then they must surely default.
The crisis is moving on.
Greece warns citizens over bailout | Irish Examiner
Originally Posted by Breadan O'Connor
Yeah Germany have been consistent in this from when investor's eyes moved form Dubai to Greece in December last. There was going to be no bailout.
http://www.politics.ie/economy/12061...contagion.htmlAfter Dubai effectively ran out of cash and needed its sugar Daddy to bail it out, the world is looking at the next country to default. Latvia has always been a suspect. But the odds are now centred around Greece. Nobody seems to be able to get to the bottom of the real financial situation in Greece. How much debt do they have and what is the likihood of them meeting their payments. It seems to be all Greek to external investors!
The Germans are trying to hush this over and push this Elephant in the room under the carpet. The latest vibe from Merkel is that Greece may have to go it alone and the IMF may have to be called in. IMF auditors are due to arrive their soon. The Greek government is paying both domestic and foreign suppliers 153 days after invoice, which even to those of us use to extremey flexible construction trade credit terms seems outrageous.
It will be the IMF coming in. The austerity measures are not goign down well with the locals which will cripple the country further.
It won't be long till the wolf be calling ours doors.
"No one rules if no one obeys" - Tao
So what does this mean for the Euro as a currency?
Regards...jmcc
"No one rules if no one obeys" - Tao
Well I guess in a way it is good to have continuing uncertainty - as once any solution is settled on: the Anarchobarbarians will teem onto the streets of Athens and start a murder rampage
cYp
"Yawn , am I alive yet ?"
What it means is quite clear to anyone with a brain.
I do not wish to upset the muppet-in-chief though as he might be along with his rolling eyes soon
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Hold on there a second, linking to another of your posts (with the same spelling mistake) doesn't count as a source? Why did you just repeat what you had said somewhere else. The original poster at least had a source for their post.
An answer to a rhetorical question?Will there be any immediate shifts in the value of the Euro or will it be facing collapse by Monday?
Regards...jmcc
Euro is going down. It is difficult to gauge against the dollar as they are both weak. €/$ now at 1.3527. Easier to measure its weakness against the Swiss Franc where it has plummeted to 1.4356. It wasn't long ago that the SNB was buying € v CHF to keep it above 1.50.
Fianna Fail - The Loss of Sovereignty Party.
When the likes of HBAP, Superpolitician, Feargach, Seabhcan, Tommy O Brien and the rest of the budding John Kenneth Galbraiths started talking about the financial markets, I knew it was time to stop. I went elsewhereAn answer to a rhetorical question?
Regards...jmcc
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