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Greek Bank Bonds Plunge To Record Lows As ELA Haircut Looms
The most sensitive financial instrument to the reality of the situation in Greece is flashing redder than it has ever flashed before. After trading at par just 9 months ago when everyone was proclaiming the Greek crisis over, Greek bank bonds are now trading at a stunning 55 cents on the dollar... For anyone "hoping" that a deal is nigh, real money investors are saying "nein nein nein."
With The ECB's decision on ELA due today, we suspect the news wil lnot be great.
One has to woinder just who or what is suddenly buying EU stocks as contagion sporeads across Europe's entire financial system?
Charts: Bloomberg
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And sew it begins.... the thin thread that unravels this delicate weave shall be the bonds, unexpectedly.
I c wut u did there
Still 54¢ too High.
I love the ritual of "pretending" to still "know" what something is "worth", like there is still some real vestige of price discovery going on in the world!
It feels so 20th Century doesn't it? The kids might say "retro" to still be believing in that fantasy!
.55 cents on the dollar? That's about what mine buys since 2008.
Throw those pathetic Greek deadbeats out of Europe already.
Dear Wolferl,
Shut up.
Sincerely,
Dear Eirik,
no way.
yea you're pretty annoying dude. Yes, Greeks are deadbeats, but the whole Euro system is a total scam. Focus on the big picture and stop spamming
They should elect this gentleman as the Greece’s finance minister!
https://www.youtube.com/watch?v=WMtfTRBVaeA
$0.55? I wouldn't pay a nickle. Only the squid knows for sure what the price will ultimately be, everyone else is just guessing.
Wolferl, you must be German? Any relation to Hitler?
You must be Irish? Any relation to the IRA?
< The Acropolypse?
< Acropolypse Now?
Yasss, right now plz, tired of waiting to engage GTA mode.
fucking beggars
So is it obvious now that this not contained?
Greek bank bonds are owned by someone. And they're not on the left side of the ECB's balance sheet.
20 bag the impact.
The ECB will get nothing.
The IMF will get nothing
The Greek Bank bonds are worth nothing,
The Greeks will not leave, and there is no way to kick them out. They will stay and enjoy the fruit of Wolferl and the rest of Germany's hard work and live off of their savings.