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Old 07-07-15, 00:35   #1
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Breaking News Grexit imminent

so far what im getting from the financial wires are very sad for EU but great news for Europe as Greece has now been given an ultimatum to make its mind up, in the EU or out by tomorrows meeting of un elected dictators , but what most people don't know is Europe and EU are two different entities Europe is a continent with nation states that has gone to war many times in the past and would like to move on and be good partners . On the other hand the EU is a bunch of power hungry oligarchs who intend to use our (Europe's) good nature against us to create a united states of Europe. and basically suck the wealth from nation stats and become world masters ,

hear is some headlines and info from financial wires

Yanis Varoufakis resigns after being forced out by EU chiefs "The Independent‎"

Head of the Greek bank association states that banks will remain closed throughout Tuesday and Wednesday and that the withdrawal limit will remain unchanged at EUR 60 per day "reuters"

German Chancellor Merkel says there is still potential for negotiations to recommence, however, they are not currently in a position to start discussions regarding the ESM programme "reuters"

Greek official states that the latest proposals from the ECB regarding haircuts will not affect everyday business due to the difference between the level of ELA and the corresponding collateral level "reuters"

In simple terms, the ECB have toughened terms of its support to Greek banks by eliminating the buffer available so that they have just the right amount to remain solvent but no more; this likely utilised to further pressure Greek negotiations
Analysis details:
- A Greek official has stated that the latest proposals from the ECB regarding haircuts will not affect everyday business due to the difference between the level of ELA and the corresponding collateral level.
- Of note, the timing of this decision comes ahead of tomorrow's Eurogroup and EU summits. "reuters"

Dutch PM Rutte states that Greece will need to come to a decision by tonight on their future in the Eurozone "reuters"

Last edited by Geopyt; 07-07-15 at 00:54.
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