Greece may exit the Euro ?

Haha maybe so and maybe not.

(y)


Now might be a good time to raise your the end of the EU thread from the ashes again :cool:

Far as I remember I did start this thread and predicted the outcome, which will be proved right. The EU commissionairs may huff, puff and squirm but can't escape the end result.

:rolleyes:
 
Since Greece is imposing a bank holiday on Monday, how would you say it may affect markets outside Greece? Also just out of curiosity, what do you expect to happen on Monday with markets such as Forex, shares and indices around the world?
 
Since Greece is imposing a bank holiday on Monday, how would you say it may affect markets outside Greece? Also just out of curiosity, what do you expect to happen on Monday with markets such as Forex, shares and indices around the world?

The Greek economy is so small I don't expect much to happen yet, except on the Greek currency markets if any.
 


Global markets already in balloon territory.

10-20% pull-back much anticipated and on the cards anyhow.


I just hope instead of some rate normalisation CBs don't start QE all over the place again.

China dropping rates, EU running with QE and now all we need is the FED to join the party again.

Grexit is more of a distraction to root cause imo.
 
Global markets already in balloon territory.

10-20% pull-back much anticipated and on the cards anyhow.


I just hope instead of some rate normalisation CBs don't start QE all over the place again.

China dropping rates, EU running with QE and now all we need is the FED to join the party again.

Grexit is more of a distraction to root cause imo.

Ahh right, thanks for explaining. (y)
 
Some polls showing the Yes camp may win the referendum which would lead to re-elections and Syriza losing.
 
Although Greece is a small country and its economy in comparison to the rest of Europe is within 2% what worries and saddens me is the real suffering of many ordinary Greek people, even those that are photographed queuing at the ATMs.
Once again the fruits of socialism and mad leftists are plainly there on public display, nothing unusual taking the last century as a historic guide. Be it Detroit, Caracas, or Athens, the story is similar, and many people suffer because some misguided do-gooders think that they can escape fiscal gravity, common sense and generally what one consider truth, reality and decency.
Mr Tsipras is a good example of the irrational leader, who smiles when one should cry, high on entitlement mentality and selective on truth and rationality. Give him the trusted Bolshevik's nagan (famous communist pistol used by NKVD in the Soviet Russia) and if he could he would introduce his type of order. These guys know and desire nothing but disaster.
Greeks have already tried a similar root in 1956, now they are at it again.
Tsipras is playing a very dangerous game for all involved. The referendum organised in such a way is only a smoke screen. On the issue on Euro and EU he have had a much better position to go to the nation months before. There must be reasons why he has chosen to act like that.
http://www.bloombergview.com/articl...eferendum-is-more-con-than-democracy-ibg6vcmz
It looks that Mr Tsipras and his cronies cannot be trusted with anything, they wasted a lot of time and fuel, and made Greece even weaker. The rest of Europeans and the world could only watch how the incompetent institutions were unable to do anything sensible, being led by the socialist snake pit of Brussels.
Is all of it surprising, sadly not that much.
 
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Lets hope so. This sort of constant upheaval is not good for most people. The poor will suffer. :(


Yep agree. The elite and the rich and George Papandreou has much to answer for yet surprisingly out of the media lime-light. Probably sipping ice tea in Monaco dabbing his forehead on piece of handkerchief.

Personally, I love the German's efficiency, dedication and reliable system of governance. Would have accepted their wise and experienced recommendations.

Also read somewhere that Tsipras opposed the previous referendum called by George back in 2010 regarding whether to stay in or out of EU.

So he is a bit of an anti-establishment, left wing pure politician. Fail to see why he didn't support George back then?

Bear in mind they have had full 5 months to consider these options and discuss rather than calling it un-announced even without conferring with EU partners.

All very messy but step in the right direction after all the wrangling. let the people decide assuming they'll be able to grasp the issues withing 5 days what has eluded them in the last 5 months.
 
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Greek banks to remain closed on Monday. A bank holiday has been decreed. If the banks open successfully on Tuesday there will be a limit on withdrawals of €60 per day. This has me wondering what the effect will be on Greek ETFs traded abroad. I will be watching the Global X FTSE Greece 20 closely. It has a 79.10% weighting in the Greek stock market.
 
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Greece has cut itself off from world markets.
Withdrawals are limited to 60 Euros per person. The richer Greeks have had lots of time to squirrel their money abroad.
 
I knew it Greek ETFs have plummeted. The Global X FTSE Greece 20 fell 15% today so far. That was and probably still is a good short position.
 
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Damn...just wondering if markets are going to continue sliding or maybe this is the level they have been corrected at and will stay around this mark.
 
Damn...just wondering if markets are going to continue sliding or maybe this is the level they have been corrected at and will stay around this mark.

Greece will default at the 6pm Washington time deadline. The markets will fall further and anything connected to Greece will fall even further. Greek ETFs will be good things to short.

FTSE Greece 20 ETF --------------- GREK 79.1%
Cambria Global Value ETF ------- GVAL 10.04%
Global Growth Fund --------------- RGRO 9.59%
Shipping ETF ------------------------ SEA 9.27%
Yorkville High Income MLP ETF -- YMLP 6.38%
 
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thanks hhiusa for that information. I don't think I have the guts or experience to handle those markets. I bought into Dax @ 11160 level thinking the market was heading up, but now I'm thinking what have I done....It's over for me as I'm down 150 points. :cry::eek:
 
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thanks hhiusa for that information. I don't think I have the guts or experience to handle those markets. I bought into Dax @ 11160 level thinking the market was heading up, but now I'm thinking what have I done....It's over for me as I'm down 150 points. :cry::eek:

I think the DAX is going to be in worse shape than the DJIA. The DAX is German and Germany is a part of the euro; thus, the DAX is likely to have more volatility and instability than non-European markets. Similarly, the FTSE will also be more negatively affected than the US. Do you only trade indices?
 
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I think the DAX is going to be in worse shape than the DJIA. The DAX is German and Germany is a part of the euro; thus, the DAX is likely to have more volatility and instability than non-European markets. Similarly, the FTSE will also be more negatively affected than the US. Do you only trade indices?



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.
 
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