Greece Heads for ‘No’ Vote, Raising Risk of Departure From Euro

jsp326 said:
Regardless of your views on this (I have mine as well), how do you think this will impact the markets...short and mid-term?
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well, I think when they see what they are really talking about, contagion is off the table. I know if I was Italy I would go to bed thanking g-d I was a member of the EU. But every pip away from parity makes it harder and harder for me to stay.

it's getting a little old when we borrow in euros and pay back in Dmarcs
 
I'm more worried about my 18 trillion debt and nothing but deficits in sight from here to eternity than a little itty bitty island in the Mediterranean. If the refernendum was to cut social security and medicare I'm sure the vote would have been "NO"
 
EURUSD looks to open around 1:10...give or take. Last week's gap down filled and went beyond. It will be interesting to see how the pair develops over night.
 
Don't be surprised if markets celebrate potential departure of Greece. They haven't been making any repayments out of their own funds, pure bailout funding their repayments and now they want other nations to sponsor their deficit too. Mind you, we would have had similar situation in the UK if we couldn't devalue the GBP.
 
Greece cannot have a primary deficit, because it would mean that the total debt grows. This would mean that they need additional money and in fact pay debts with other loans that need to be bigger than the previous ones. It would mean that the Greek way of living would continue.
Europe will never accept that.
 
loyek590 said:
I'm more worried about my 18 trillion debt and nothing but deficits in sight from here to eternity than a little itty bitty island in the Mediterranean. If the refernendum was to cut social security and medicare I'm sure the vote would have been "NO"
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Yeah, we're talking about 0.5% of the world's economy. Still, even if it doesn't cause immediate contagion, it makes people wonder about the rest of the PIIGs, and general debt problems worldwide.
 
i am nobody said:
Greece cannot have a primary deficit, because it would mean that the total debt grows. This would mean that they need additional money and in fact pay debts with other loans that need to be bigger than the previous ones. It would mean that the Greek way of living would continue.
Europe will never accept that.
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The EU-technocrats have no other choice than to accept, otherwise they risk a banking crisis and eventually Greece falling under the influence of Russia. Imagine a Russian naval base on Crete. I don't think big brother USA would like that. A couple of days ago Jeroen Dijsselbloem stated all negotiations with Greece were off in case of a no. And now what? Every EU-technocrat from left to extreme left is calling for a restart of negotiations.
This moron too:

https://twitter.com/GuyVerhofstadt/status/617768813451440128
 
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Ditch said:
The EU-technocrats have no other choice than to accept, otherwise they eventually risk Greece falling under the influence of Russia. Imagine a Russian naval base on Crete. I don't think big brother USA would like that. A couple of days ago Jeroen Dijsselbloem stated all negotiations with Greece were off in case of a no. And now what? Every EU-technocrat from left to extreme left is calling for a restart of negotiations.
This moron too:

https://twitter.com/GuyVerhofstadt/status/617768813451440128
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yes my friend, but many years ago we feared a Viet Nam run by Russia.
 
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