I had always assumed that loss of resources or strategic territory would be considered a 'Pound'. For example, if Panama defaulted, they might loose their canal. Is this thinking incorrect?
Greek eurozone exit thread
- Thread starter m22au
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I had always assumed that loss of resources or strategic territory would be considered a 'Pound'. For example, if Panama defaulted, they might loose their canal. Is this thinking incorrect?
I doubt that creditors could demand land and/or buildings and/or assets as compensation. They would need to go to war to do that.
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Discussion of how capital controls may work in Greece if they are enacted:
http://www.zerohedge.com/news/2015-06-14/options-run-out-what-greek-capital-controls-would-look
Similar article from 4 June:
http://www.zerohedge.com/news/2015-06-04/what-capital-controls-will-look-greece
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http://www.zerohedge.com/news/2015-06-14/options-run-out-what-greek-capital-controls-would-look
Similar article from 4 June:
http://www.zerohedge.com/news/2015-06-04/what-capital-controls-will-look-greece
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Tsipras has no options. Accept the pension and surplus conditions to disgorge 7B that barely covers payments out to the end of July. Germany will not be party to a restructuring which involves privatization, and it is a no go with the Greek populous. May as well call Schaeuble, "Xerxes."
Greek stock market is closed for a week...
Just a guess, but I believe I have heard somewhere that some ETFs are not holding actual stocks but swaps or deriviative positions. Thus prices can reflect ETF buying and selling pressures and rebalancing rather than underlying fundamental trade price changes. It pays to understand the fine print of what you really own - stocks or a promise to supply stock. (HXT.TO or XIU.TO)
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Is one potential option an iceland-like event - debt repudiation and huge economic troubles followed by printing government script without central bank involvement? Assuming it works after some serious pain in 10 years for example, would there be a lineup to copy the model from other heavily indebted countries? It seems to me that the blame - Greece left on their own or was pushed becomes a central issue. Toppling the greek government from outside pressure may be seen as anti-democratic.
Surely each side knew its playing strategy to the "end" when the greek government came to power. Repudiation (100% if possible) would slam the Euro with a huge deflationary event and give other debtors a faint hope clause. The resolution is a model for the future of a failing monetary system. (How do you solve a problem like Syriza? How do catch a cloud and pin it down ....)
If so, Greece has upped the ante.
http://www.telegraph.co.uk/finance/...andic-default-as-Greek-defiance-stiffens.html
this scenario doesn't explain why nbg continues to trade
I should say I am happy to see the civilized behavior of Greeks in this difficult time. There is no sign of unrest and TV shows that everyone is unhappy but rational and you don't see them throwing stones to the banks and looting stores with big black plastic bags (as in Baltimore) !! However I saw a sign in one of their demonstrations that says they will always be a part of Europe. No one can kick them out of Europe !!. They can be kicked out of Euro countries but not Europe. UK is in Europe but not in Euro circle. Two different things.
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