Eurozone

Tyler Durden's picture

ECB Says "Grexit Can No Longer Be Excluded", Hints At More QE





It seems Goldman Sachs' conspiracy theory was right all along...

ECB'S COEURE SAYS ECB IS EVEN READY TO USE NEW INSTRUMENTS, WITHIN ITS MANDATE
GREECE COULD EXIT EURO, COEURE SAYS IN LES ECHOS INTERVIEW

This is exactly what The ECB wanted all along (and their leaders overlords) - all they needed was an 'excuse'. Or, in the parlance of Rahm Emanuel's times, "Let no Greek default crisis go to QE waste."

 
Tyler Durden's picture

SocGen Says "Raise Cash" As Volatility, Turbulence Ahead





The unanticipated recent Greek political news flow and consequent market stress are addressed in our portfolio construction by the resilience we built into higher volatility scenarios and unexpected sources of turbulence. Indeed, the risk is not so much Greece but the structural illiquidity of the market which will exacerbate any moves up or down which should be part of the equation.

 
Tyler Durden's picture

Greece, Democracy, And Magical Thinking





Regardless of what the Greek people choose, at least the choice will be theirs, along with the consequences.

 
EconMatters's picture

Greek Crisis: What's Next After Capital Controls?





Referendum is a CYA by Tsipras & Syriza, but a deal is by no means the end of anything...

 
Tyler Durden's picture

Varoufakis Reveals Europe's Stunning Denial Of Greek People's Right To Vote





We are watching the total collapse of Democracy and the birth of a new era – Economic Totalitarianism from Arrogant people who are totally clueless beyond their own greed for power and money.

 
Secular Investor's picture

How To Cover Your Ass: The Greek Edition





Lesson 1: Make a big pile of mud; Lesson 2: ...

 
Tyler Durden's picture

Central Banks Scramble To Stabilize Crashing Markets: China Fails, Switzerland Succeeds (For Now)





At the open, Europe looked in the abyss, and with no help coming from China, it did not like what it saw: And then the answer came from the Swiss National Bank, which stepped in to prevent the collapse just as Europe was opening. Because seemingly out of nowhere, a tremendous bid came in to life the EURCHF, buying Euros (against the CHF and the USD) and selling Europe's last left safety currency. We now know that it was the SNB, the same central bank which is the proud owner of well over $1 billion in Apple stock.

 
Tyler Durden's picture

Did The BIS Already "Accidentally" Kick Greece Out Of The Eurozone?





Spot the glaring "oversight" it in the BIS map below which is a snapshot of the original BIS release. Hint: Dollar zone in Green... Euro zone in blue...

 
Tyler Durden's picture

How Could The "Greek Experts" Be So Wrong?





With Greece disintegrating before our very eyes, here are some recent blasts from the recent and not so recent past, showing just how clueless some of the most and least respected, strategists, bureucrats, drama majors, and former Goldman employees have been when it comes to Greece.

 
Reggie Middleton's picture

Blockchain-based Derivative Contracts Allows Leveraged Forex Trading Where Brokers Fear to Tread Due To Grexit





A Grexit debacle easily highlights the advantages of trading throgh blockchain technology. Long story short - no FTDs, counterparty or default risk when trading forex pairs!

 
Tyler Durden's picture

Eurozone Rejects Greek Bailout Extension: All Bailout Programs Expire On June 30, Referendum Moot





"Regrettably, despite efforts at all levels and full support of the Eurogroup, this proposal has been rejected by the Greek authorities who broke off the programme negotiations late on the 26 June unilaterally.  The current financial assistance arrangement with Greece will expire on 30 June 2015, as well as all agreements related to the current Greek programme including  the transfer by euro area Member States of SMP and ANFA equivalent profits."

 
Tyler Durden's picture

IMF Confirms Greek Referendum "Irrelevant" After Program Expires On Tuesday





If there was any confusion if, as we warned was the biggest problem with the Greek referendum namely that next weekend there will no longer be a proposal to vote on, the IMF's Christine Lagarde just put it to rest. As she told the BBC moments ago, the Greek government's planned referendum on the terms of any new bailout plan will be invalid after Tuesday, when the current programme expires. As a result, the Greek people would be voting on proposals that were no longer in place.

 
Tyler Durden's picture

FX Brokerages Move To "Close Only" Ahead Of Monday Open





Upcoming risk - Instruments moving to 'Close Only' mode

Due to the uncertainty surrounding the ongoing Greek debt negotiations, and ahead of a potential announcement over the weekend that could lead to high volatility on the market, please be informed that we have decided to decrease your risks by temporarily moving all Instruments to 'Close Only' mode, from 22:30 GMT+3 on Friday the 26th of June 2015, until 00:30 GMT+3 on Monday the 29th of June 2015, trading terminal time.

 
Tyler Durden's picture

EU Officials Unleash The Fearmongery: "The Crisis Has Commenced"





Presented with little comment aside to ask if someone is off-script?

NOONAN: THE CRISIS HAS COMMENCED
SCHAEUBLE SAYS `HELLISH DIFFICULT TASK' ON GREECE
NOONAN: I HAVE SYMPATHY FOR THE GREEK PEOPLE

But always remember, "Greece doesn't matter," which as Mohamed El-Erian explains, is somewhat true, since European leaders have two other existential issues to contend with also...

 
Tyler Durden's picture

Greek IMF Default May Trigger €131 Billion Payment On EFSF Lonas





"A possible Greek default on debt due to the International Monetary Fund next week would trigger cross- default clauses on 130.9 billion euros that Greece owes the euro area’s temporary rescue facility, a European Union official says."

 
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