Tag: housing

April Greek Capital Flight €5 Billion; Eurozone Liabilities Hit €115 Billion
May 28, 2015 0

April Greek Capital Flight €5 Billion; Eurozone Liabilities Hit €115 Billion

By News Desk

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…

Run on Greek Banks Accelerates; ECB Halts Emergency Funding Hike; Untangling the Lies
May 27, 2015 0

Run on Greek Banks Accelerates; ECB Halts Emergency Funding Hike; Untangling the Lies

By News Desk

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

Greece Will Default on June IMF Repayment Says Interior Minister; Greek Choice Same As It’s Always Been
May 24, 2015 0

Greece Will Default on June IMF Repayment Says Interior Minister; Greek Choice Same As It’s Always Been

By News Desk

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.

Project Bookend: BoE Emails Guardian Top Secret Documents on Brexit, Including PR Notes on How to Deny the Project
May 23, 2015 0

Project Bookend: BoE Emails Guardian Top Secret Documents on Brexit, Including PR Notes on How to Deny the Project

By News Desk

Here’s a major laugh for a long holiday weekend in the US: Secret Bank of England taskforce investigates financial fallout of Brexit Bank of England officials are secretly researching the financial shocks that could hit Britain if there is a vote to leave the European Union in the forthcoming referendum. The Bank blew its cover on Friday when it accidentally emailed details of the project – including how the bank intended to fend off any inquiries about its work – direct to the Guardian. According to the confidential email, the press and most staff in Threadneedle Street must be kept in the dark about the work underway, which has been dubbed Project Bookend.