tricky
Lib Dem
Building a stronger economy and a fairer society so everyone can get on in life
Posts: 1,420
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Post by tricky on May 15, 2012 13:36:37 GMT
Every stock market in the EU went in the tank for a few minutes after that came out through Reuters. It all looked a bit Day After Tomorrow for a little while.
Anyone know if Greece made their debt repayment today?
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Post by markgoodair on May 15, 2012 13:57:01 GMT
Every stock market in the EU went in the tank for a few minutes after that came out through Reuters. It all looked a bit Day After Tomorrow for a little while. Anyone know if Greece made their debt repayment today? If you have the money now is the time to buy. |
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Richard Allen
Banned
Four time loser in VUKPOTY finals
Posts: 19,052
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Post by Richard Allen on May 15, 2012 15:52:26 GMT
Every stock market in the EU went in the tank for a few minutes after that came out through Reuters. It all looked a bit Day After Tomorrow for a little while. Anyone know if Greece made their debt repayment today? Yep, paid in full. Must make those bond holders who accepted a substantial haircut feel pretty sick. |
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on May 15, 2012 15:59:15 GMT
How much could I pick up an island for?
Btw - if Greece defaults Southern Cyprus will follow. It's banks are loaded with Greek debt due to pan Hellenic solidarity.
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Post by Andrew_S on May 15, 2012 16:01:44 GMT
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on May 15, 2012 16:30:57 GMT
Good for inflation, bad for exports....
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Post by Arthur Figgis on May 15, 2012 16:34:26 GMT
I picked up Euro on Sunday at 1.239, and Forints at 350.5. Was trying to delay as long as possible, but no further chance to get out before I go on Friday. Today, I could've got 1.244 and 354.5 from the same dealer.  To be fair, I'd have no further chance to get out before I go away on Friday- I'd been trying to delay it as much as I could! |
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Post by Pete Whitehead on May 15, 2012 19:16:14 GMT
Why don't you just take cash out there?
Actually I think the Forint was out to about 370 last time I went. I'm going next month so am keeping a keen eye on that one - at that rate cigarettes are about £2 a packet and they're what - £8 here now?
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Post by richardclemerson on May 15, 2012 19:19:15 GMT
Every stock market in the EU went in the tank for a few minutes after that came out through Reuters. It all looked a bit Day After Tomorrow for a little while. Anyone know if Greece made their debt repayment today? Yep, paid in full. Must make those bond holders who accepted a substantial haircut feel pretty sick. Doubt if they will make their next repayment. |
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Post by toryjim on May 15, 2012 21:07:18 GMT
I think the end game is going to come very quickly. Will the markets tolerate an entire month of uncertainty? Anyone with any real exposure left to Greece is going to shift their cash very rapidly. The problem is that they are going to also spot the secondary impact zones and pull their money out of those too. I think if we get a full scale market move against the Eurozone then I doubt Greece will remain viable until the next polls. I'm not sure the euro-elite are fully aware of how much damage could be wreaked by a Greek fullscale economic capitulation. Lagarde saying they are "technically" prepared for Grexit is absolute and total rubbish, I'm not sure anyone can be "technically" prepared for this. The way this has been mishandled has made the likely outcome of this pretty much an economic extinction level event.
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Post by richardclemerson on May 15, 2012 21:15:04 GMT
It's what happens when politicians are allowed to tinker too much with economic reality.
Greece will look like a damp squib when the same problems hit Spain & Portugal and with the exposure of French & Belgian banks.........
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Post by iainbhx on May 15, 2012 21:38:20 GMT
Why don't you just take cash out there? Actually I think the Forint was out to about 370 last time I went. I'm going next month so am keeping a keen eye on that one - at that rate cigarettes are about £2 a packet and they're what - £8 here now? The brand I prefer are £7.80. Luckily, I had to pop to Zürich the other week and they might last me until I get to Berlin in two weeks. I appear to be holding a few more Swiss Francs than I normally would, can't think why. ;D |
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Richard Allen
Banned
Four time loser in VUKPOTY finals
Posts: 19,052
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Post by Richard Allen on May 16, 2012 9:12:24 GMT
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Post by Arthur Figgis on May 16, 2012 9:44:22 GMT
Why don't you just take cash out there? Actually I think the Forint was out to about 370 last time I went. I'm going next month so am keeping a keen eye on that one - at that rate cigarettes are about £2 a packet and they're what - £8 here now? I am just taking cash out there- don't reckon I'd be able to get as good an exchange rate out there or through Amex/cash machines. Being offered 360.1 today. To think it was 295 or so when I last went 13 months ago. |
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The Bishop
Labour
Down With Factionalism!
Posts: 38,946
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Post by The Bishop on May 16, 2012 9:45:58 GMT
Not a huge surprise to anybody who has observed their behaviour at several recent protests, tbh. |
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Richard Allen
Banned
Four time loser in VUKPOTY finals
Posts: 19,052
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Post by Richard Allen on May 16, 2012 10:35:38 GMT
Not a huge surprise to anybody who has observed their behaviour at several recent protests, tbh. Maybe so, but disturbing none the less. |
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Post by Andrew_S on May 16, 2012 16:27:04 GMT
GDP in Greece has fallen by a fifth since 2008:  |
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Post by toryjim on May 16, 2012 18:37:15 GMT
I don't see how a new election is going to change anything fundamentally. It might give Syriza the extra 50 seats for topping the poll but then where does that leave Greece? Syriza might then cobble together an anti-austerity coalition how then do they square that with remaining in the Euro? What happens if the results are broadly the same as this time and nobody can form a government? Surely Greece can't keep having elections until someone gets over the magic number? I don't think anyone has worked out just how bad this situation could get.
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Post by Andrew_S on May 16, 2012 18:49:03 GMT
SYRIZA genuinely believe in simultaneously ending austerity and remaining in the Euro. They haven't yet accepted that that combination isn't possible. Quite frightening really.
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tombv
Non-Aligned
Posts: 20
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Post by tombv on May 16, 2012 19:26:13 GMT
I fear we're passengers in the middle of a car crash at the moment..  |
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