German magazine Spiegel:Greece could reintroduce its own currency

Discussion in 'Wall St. News' started by ASusilovic, May 6, 2011.

  1. zdreg


    it is too late. obama has only ready recruited mugabe to introduce the "new $US."

    is this the reason for the rebound in the euro? the euro will be ex greece ex portugal etc.
    #21     May 7, 2011
  2. Germany is on the hook here either way. If a Euro break somehow happened, it would spark an immediate capital flight, exchange controls, credit freeze, and implosion on all Euro debt. Would you hold your Euros in Greek institutions, waiting for them to be exchanged for worthless new-drachmas?

    It would be a disaster -- a REAL disaster, not a paulson/blankfein wink-wink "disaster." Food shortages, riots, and civil unrest disaster. Germany and other EU forces wouldn't be able to just sit on the sidelines, and would have to clean it up anyway.

    There's no way to break clean of this, short of war. It's better to pay them off now and limit it to financial impact to at least save the physical damage cleanup costs.
    #22     May 7, 2011
  3. To paraphrase Stalin, how many divisions does the bond market have?
    #23     May 7, 2011
  4. What are the investment banks in US that underwrite the 5 yr. CDS of Greece? And is there a link to that no. today? Last time I check, it was sitting at 981.2, but that was a few mth. ago.
    #24     May 9, 2011
  5. Leone


    people always say trade on rumors

    if that was profitable people would start rumors all the time just to profit from it
    I don't trade on rumors
    #25     May 9, 2011
  6. quite the contrary, we shouldn't let them jump ship, and re-finance their treasuries to 5 to 7 yr. Because in 5 yr., most countries would be in good shape and out of their current econ. situation. Then in 5 yr., we can AFFORD to let greece jump ship, because we can then absorb the damage in 5 yr., but not now
    #26     May 9, 2011
  7. All the big i-banks quote this... Closed today at 1360.
    #27     May 9, 2011
  8. elon


    If they do that Greece will be thrown back a couple of centuries. And I'll have to change my vacation spot.
    #28     May 9, 2011
  9. #29     May 9, 2011
  10. If it looks like they are going to withdraw it seems the run on the banks will be instant, furious and sustained. It is an awfully big decision to go back to home grown ... particularly since no one want their home grown.
    #30     May 10, 2011