June 15, 2015
Time Pressure Thesis; Let’s Play Ball; Greece 2-Year Bond Yield Hits 28.5%
More: Time Pressure Thesis; Let’s Play Ball; Greece 2-Year Bond Yield Hits 28.5%
Hard hitting global and local news
Hard hitting global and local news
More: Time Pressure Thesis; Let’s Play Ball; Greece 2-Year Bond Yield Hits 28.5%
See the original post: Greece Walks Out After 45 Minutes, Talks Collapse; Default Math: Who Foots the Bill? How Much?
Original post: "Last Try" in Greece Before Capital Controls: Then What? Best Case Scenario for Greece
The Financial Times reports Anxious Greeks Pull Money from Banks Amid Fears of Capital Controls . Two weeks after Greece’s leftwing Syriza party won power at a general election in January, Panayotis Fotiades pulled his deposits from an Athens bank
View article: Greek "Paperology"; Obama Pressures Greece; Proposal Dismissed by Creditors as "Vague Rehash"; Dismal Choices
Yet moments ago, the Financial Times reported Greece to Delay IMF Repayment as Tsipras Faces Backlash . Greece has notified the International Monetary Fund that it will not make a scheduled €300m loan repayment on Friday after opposition to a bailout compromise with creditors erupted inside the governing party.
Read the article: Default and Get it Over With; Stop the Needless Torture
The ECB is attempting to stem the flow by not upping emergency liquidity assistance (ELA) as noted yesterday in Run on Greek Banks Accelerates; ECB Halts Emergency Funding Hike; Untangling the Lies Everyone Prepared? When the ECB and Germany say they are prepared for Grexit, do they include taxpayers who will have to foot the bill for default? My friend Lars from Norway pinged me with this observation today…
CNBC reports Greek Bank Outflows Accelerate, Reached 5 Billion Euros in April . Greek banks have seen deposit outflows accelerate over the past week as fears rise that the euro zone country will default on debt, two banking sources said on Wednesday. The spike follows a steady outflow of money from Greek lenders this year as Athens and its creditors struggle to agree an aid-for-reforms deal before Greece runs out of money
The Telegraph reports Greece to Miss IMF payments Amid Fears of ‘Catastrophic’ Eurozone Rupture . Finance minister [Yanis Varoufakis] said that the Syriza-led Greek government has now “made enormous strides at reaching a dealâ€, and that it is now up to the ECB, IMF and EU “to do their bit†and “meet us one-quarter of the wayâ€. One possible alternative if talks do not progress is that Greece would leave the common currency and return to the drachma.