Greek banks will not open Monday

[pwjohn]

A nation on the verge of collapse.

Greek banks will not open Monday

Greece said it would temporarily close banks on Monday in a bid to prevent its banking system from collapsing after the European Central Bank moved to cap the amount of emergency loans it provides for the country’s cash-strapped lenders.

The ECB said earlier on Sunday that it wouldn’t increase the lifeline of emergency liquidity that has been sustaining Greece’s banks, even as nervous Greek depositors appeared to withdraw their money at a greater pace over the weekend.

Fox News - BREAKING NEWS Greece said it would temporarily... Facebook

The euro is toast

Pretty much, a grand experiment goes bust

And that same bunch of pathetic losers were screaming for the Amero.

 

[pwjohn]

Yeah this Greece thing to the euro is like an f-5 tornado bearing down on a house full of people. They're dead already, they just don't know it yet.

 

[Mad Scientist]

"Obama saved this country".

- Typical Delusional American.

 

[nat4900]

After a month-long run on American banks, Franklin Delano Roosevelt proclaimed a Bank Holiday, beginning March 6, 1933, that shut down the banking system. When the banks reopened on March 13, depositors stood in line to return their hoarded cash. This article attributes the success of the Bank Holiday and the remarkable turnaround in the public’s confidence to the Emergency Banking Act, passed by Congress on March 9, 1933. Roosevelt used the emergency currency provisions of the Act to encourage the Federal Reserve to create de facto 100 percent deposit insurance in the reopened banks. The contemporary press confirms that the public recognized the implicit guarantee and, as a result, believed that the reopened banks would be safe, as the President explained in his first Fireside Chat on March 12, 1933

 

[Moonglow]

banks will be closed Saturday here in the US, it's a holiday...

 

[Moonglow]

Opa! Get your plates ready people.

If we witness the Grexit you can thank all our fucking leaders who decided to shit down Putin's throat.

Greece and others will run with Russia. Hell's bells I'm thinking of moving.

The pipeline deal Russia signed with Greece gives them a new start. All they have to do is walk away from existing debt.

Putin has been a very busy man. The deals he has cut world wide are jaw droppingly awesome.

I still don't get our leaders trying to marginalize and demonize Russia. And I'm Ukrainian third generation

Putin has not only weathered the storm the mother trucker has been making deals all over the planet

Do you need a towel now?

Cigarette??

 

[tigerred59]

"Obama saved this country".

- Typical Delusional American.

Listen, the money tax payers pumped into this economy and banks, saved this country from the brink of disaster. You can deny to the grave, homo...the facts speak for themselves. Had the European idiots pumped the same funds, they'd all be smiling today. Its all facts...get over it. Government is good and the US proved it.

 

[Mad Scientist]

Bullish*t. Money Printing saved the Banks and no one else.

 

[pwjohn]

After a month-long run on American banks, Franklin Delano Roosevelt proclaimed a Bank Holiday, beginning March 6, 1933, that shut down the banking system. When the banks reopened on March 13, depositors stood in line to return their hoarded cash. This article attributes the success of the Bank Holiday and the remarkable turnaround in the public’s confidence to the Emergency Banking Act, passed by Congress on March 9, 1933. Roosevelt used the emergency currency provisions of the Act to encourage the Federal Reserve to create de facto 100 percent deposit insurance in the reopened banks. The contemporary press confirms that the public recognized the implicit guarantee and, as a result, believed that the reopened banks would be safe, as the President explained in his first Fireside Chat on March 12, 1933

And what does all that have to do with the collaspe of the euro?

 

[pwjohn]

Opa! Get your plates ready people.

If we witness the Grexit you can thank all our fucking leaders who decided to shit down Putin's throat.

Greece and others will run with Russia. Hell's bells I'm thinking of moving.

The pipeline deal Russia signed with Greece gives them a new start. All they have to do is walk away from existing debt.

Putin has been a very busy man. The deals he has cut world wide are jaw droppingly awesome.

I still don't get our leaders trying to marginalize and demonize Russia. And I'm Ukrainian third generation

Putin has not only weathered the storm the mother trucker has been making deals all over the planet

Do you need a towel now?

Cigarette??

Make mine a miller

 

[CrusaderFrank]

 

[SassyIrishLass]

Dow -263.....as expected

 

[pwjohn]

No big surprise.

 

[SillyWabbit]

When a Bond Is Not a Bond The 10th Man Investment Newsletter Mauldin Economics

Some of my friends and clients know a lot about the Greek negotiations. There is a lot to know. I try to keep it simple:

1. The Greeks are communists
2. Everyone is incentivized to get a deal done, unless
3. The Greeks overplay their hand

There. Now I know everything there is to know about Greece. At the time of this writing, there was no deal in place, but it was starting to look promising.

Promising Isn’t the Word
People are starting to figure out that Greece is probably better off just defaulting and going back to the drachma. Painful, yes, but better than this perpetual bailout purgatory where everyone loses. Greece doesn’t make the necessary reforms, and Europe just keeps throwing good money after bad.

Which leads me to the point of this essay—if Europe bails out Greece once again, will they ever realistically pay it back?

Of course not. Everyone knows this.

Then it’s not really debt, right? It’s just aid. It’s a gift.

I think Greece has been trying to make this point all along. Why the rest of Europe didn't get it--till now--I don't understand.

 

[CrusaderFrank]

Do you think American Progressive are learning anything from this?

 

[theHawk]

Do you think American Progressive are learning anything from this?

Yes, they are learning a good way to bring down civil society.

 

[HenryBHough]

Relative who works in a relatively small bank says he's been cautioned that he may not be allowed to open the doors Monday morning. Nothing definite; just stay in available for contact between now and then.

It has begun. ....

European and U.S. stock markets plunge as Greek crisis deepens - LA Times

"U.S. stocks dropped sharply Monday and global markets plummeted even more as the crisis between Greece and its Eurozone creditors edged toward a financial cliff for the nation."

"Major U.S. indexes lost more than 2% and European markets fell more than 3% as investors shifted into safer assets, mainly U.S. and German bonds, until the Greek debt drama resolves itself with a default, a deal or an extension."

"Without an extension, the Greek government is expected to default on a $1.8-billion payment Tuesday on its bailout from European creditors and the International Monetary Fund.:"

 

[Steinlight]

Good, I hope Greece takes this whole fucking system down and the EU dies.