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Draghi Freezes Greek ELA, Varoufakis Tells BBC "Looking At Imposing Capital Controls, Closing Banks"
ith Greece having gone past the point of no return, things are now escalating very rapidly, and moments ago the BBC's Nikc Sutton tweeted that the BBC's Mark Mardell was told the Greek government will be "looking overnight at imposing capital controls and closing banks on Monday."
.@yanisvaroufakis tells @BBCMarkMardell: Greek Govt will be looking overnight at imposing capital controls & closing banks on Monday. #tw2
— Nick Sutton (@suttonnick) June 28, 2015
The context, of course, is bluffing until the very end, with Varoufakis claiming that if the ECB were to stop support for Greek banks, then Europe as we know it (or not) "has failed."
Greek finance minister @yanisvaroufakis tells #tw2 if ECB were to stop support for Greek banking system would mean that Europe had failed.
— Nick Sutton (@suttonnick) June 28, 2015
.@yanisvaroufakis "monetary union that cannot guarantee functioning banks…constitutes a major denial of the v principle of a monetary union"
— Nick Sutton (@suttonnick) June 28, 2015
The problem is that Greece would be, in the eyes of the ECB, no longer part of the monetary union and certainly won't be after June 30 if there is no "deal" so as Dijsellbloem said yesterday, it is the Greek government's problem - in other words, Europe thinks it has won the "blame game", and the loser is Greece while Greece is still desperate to make Europe seem the villain.
.@yanisvaroufakis: "It is a dark hour for Europe...Greece has had many dark hours in its very long history" #tw2 http://t.co/q935zI3PuC
— Nick Sutton (@suttonnick) June 28, 2015
The whole BBC interview can be heard here:
Listen live to @BBCMarkMardell's interview with @yanisvaroufakis on @BBCRadio4: http://t.co/q935zI3PuC #tw2 #Grexit pic.twitter.com/kvIL8tQQGx
— Nick Sutton (@suttonnick) June 28, 2015
And of course, in keeping with the diplomatic strategy of Greece, which has been to promptly deny everything it has just said, Varoufakis did just htat.
Capital controls within a monetary union are a contradiction in terms. The Greek government opposes the very concept.
— Yanis Varoufakis (@yanisvaroufakis) June 28, 2015
Reuters adds that on Sunday night the Greek government will consider imposing capital controls and closing the country's banks on Monday, Finance Minister Yanis Varoufakis said, while asserting the crisis did not mean Athens would have to leave the euro.
Varoufakis, asked if capital controls were now inevitable and if the banking system would be shut down on Monday, told BBC radio on Sunday: "This is a matter that we'll have to work overnight on with the appropriate authorities, both here in Greece and in Frankfurt."
Varoufakis said he would be holding talks with the Bank of Greece and the European Central Bank to see "what can be done to minimise the burden on our people from Europe's refusal to grant us basic democratic rights".
He said the crisis and a planned referendum did not mean Greece would necessarily have to leave the euro however, even if Greeks voted to reject the package being offered by creditors.
"It doesn't have to and it shouldn't," he said. "There are no provisions for leaving the euro once in. You can't get out. This is part of the European treaties. Why should we have to consider even getting out of the euro?"
But admit or deny, it no longer matters: moments ago the ECB announced it has frozen the Greek ELA at its Friday level even as the Greek bank run has claimed at least another €1 billion in deposits according to Skai TV reports (ahead of its formal pulling just after midnight on Tuesday when Greece is no longer in an official bailout program), and as such it is only a matter of time before the entire ELA bailout is unwound a la Cyprus in March 2013. From the ECB:
ELA to Greek banks maintained at its current level
- ECB takes note of decision on Greek referendum and the non-prolongation of the EU adjustment programme
- ECB will work closely with Bank of Greece to maintain financial stability
- Emergency liquidity assistance maintained at Friday’s (26 June 2015) level
- Governing Council stands ready to review decision
- Governing Council closely monitoring situation and potential implications for monetary policy stance
The Governing Council of the European Central Bank today welcomed the commitment by ministers from euro area Member States to take all necessary measures to further improve the resilience of euro area economies and to stand ready to take decisive steps to strengthen Economic and Monetary Union.
Following the decision by the Greek authorities to hold a referendum and the non-prolongation of the EU adjustment programme for Greece, the Governing Council declared it will work closely with the Bank of Greece to maintain financial stability.
Given the current circumstances, the Governing Council decided to maintain the ceiling to the provision of emergency liquidity assistance (ELA) to Greek banks at the level decided on Friday (26 June 2015).
The Governing Council stands ready to reconsider its decision.
Mario Draghi, ECB President, said: “We continue to work closely with the Bank of Greece and we strongly endorse the commitment of Member States in pledging to take action to address the fragilities of euro area economies.”
Yannis Stournaras, Governor of the Bank of Greece, said: “The Bank of Greece, as a member of the Eurosystem, will take all measures necessary to ensure financial stability for Greek citizens in these difficult circumstances.”
The Governing Council is closely monitoring the situation in financial markets and the potential implications for the monetary policy stance and for the balance of risks to price stability in the euro area. The Governing Council is determined to use all the instruments available within its mandate.
End result (h/t @NectarAxais):
It's begun @zerohedge #Grexit pic.twitter.com/iAEo4poK9H
— Nectar Axais (@NectarAxais) June 28, 2015
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The best thing to happen in Greece is get rid of the ECB/IMF. Go away!!
I guess its about time the world relearn the lesson of the 1930's, that its not safe to keep your money in the banking system. Too bad we have to keep relearning that lesson.
How financial commentators and advisors can say the proper allocation to precious metals is zero, I don't know.
Now it gets exciting
According to the Daily Telegraph, a top Greek official pleaded with residents not to pull all their savings out of the bank.
Translated this means to pull every red cent you have out of the bank, as quickly as possible.
http://www.telegraph.co.uk/finance/11704054/Greek-crisis-live-blog-as-it...
Maybe today is a good day to buy some more gold before the derivative defaults kick in and this contagion spreads around the world..........
only fools would not have removed all their cash weeks ago.
https://www.youtube.com/watch?v=zDAmPIq29ro
Correct! If you still have any money in a Greek bank, you deserve to lose it all. I dont feel sorry for those sheeple.
Only fools would not have removed all their cash years ago.
There - fixed it for you.
The holiday season is about to start, with empty ATM's ?
The horror www.youtube.com/watch?v=VKcAYMb5uk4
This is what happens when one surrenders their sovereignty.
There will be rioting tomorrow when the Banks don't open. Anyone think of that?
A pussy riot...?
I predict about 40% pussy in the riot.
I'll take them odds
better than zirp anyway
No there wont be riots, its a non-issue. ELA was Capped at an undisclosed amount that will be adjusted as needed. Its all a show.
Germany and France cant have Greece leave their economies would instantly implode. Italy and Spain arnt even up to bat yet.
Watch a deal will get done to extend this show another year.
Spain and Italy will make this Greek drama look like a side show. Thats why Greece will get their funding, they dont want attention to switch to Spain and Italy, as it will after Greece.
You cant have the nay-sayers turnout to be right.
But the longer they let this situation persist the harder politically any solution gets, normally all the guff about "uncertainty" is just that, but in the Greek case it is very real.
No sane person puts money in a system where it looks about to implode at any moment, so the costs of bailing out Greece increases daily. Italy and Spain should be very interesting, I think the Eurogroup will have learned though to just say yes to whatever demands they give :D
Maybe it's time for Bill Cosby or the English Parliament to ride in and save da' day? Just beware of any free drinks and lock away your children.
It'll be an interesting week.
I would do it in 2010 at latest!
what if your net worth is your government pension?
You should never depend on the government.
You are an insufferable fool and a very little man....a good number of folk rely on A government to provide after being an indetured servant thier entire life...that is a social contract....true the law of the jungle is always ever present..but for someone like you to pop off at the mouth is so very foolish....because there are men like me would take everything from you by force and no one would or could help you, weak little victim....
If I had a gun, would you still try to take my property? :)
Perhaps they are prevented from withdrawing their money, by a law such as we have. If you withdraw more than $5,000, the IRS/FBI will seize ALL of your assets. Sorry, by "we", I mean USA.
"So this is it. We're gonna die." - Arthur Dent
See if you can find the don't panic button in between the Chesterfield couch's pillows, please. I'll excuse myself here, thanks.
So long and thanks for all the fish.
They will just change the rules of what counts as a default. They did it last time. They have no interest in seeing their derivatives ruin their fiat financial system. The bag holders will be the saps owning the derivatives whose true value will be determined not by the instrument that they hold, but the policy makers. There is no longer honor amongst thieves.
When infinity becomes finite.
Derivatives are a piece of nothing.
"They" aren't trying to save Greece or Europe. "They" are trying to save themselves. It is their income ... wealth that is at stake.
I personally hope it gets ugly for them fast. Illiquid? Nope. It's been a question of insolvency all along.
Indiviual greeks aren't bankrupt. It's their creditors ... the banks ... who are.
You're about to discover that "they" aren't interested in saving the EU or their system.
Creative destruction. We can't get to a cashless, globally controlled system without first burning this one to the ground.
Assumptions like that will be very expensive going forward
They may "change the rules" Bobby, but people have to keep believing in those rules for that to work.
The average person is not going to care if the people holding derivatives gets screwed. What they will care up is what is the latest peice of crap Kim Kardashian is pushing because "they have to have it."
Makes a good point. Br like a run on banks on Fed member FDIC insured banks in Arkansas to which there is no response by the FDIC and Fed insofar as providing cash to meet withdrawals (Which is one of the purposes of the whole thing, no, for banks don't keep 100% of asset side of the ledger in cash) and thus, there is no reason indeed for an EU ECB member country to play any more make believe and pretend as to the banking union. It's the goobermenit insolvent, not the depositor's cash in said banks. There's a difference. Big Difference.
My oh my.
Could even go so far as to make the philosophical case that that the banks are separate from the government's problems. Which becomes not so philosophical anymore.
According to the Daily Telegraph, a top Greek official pleaded with residents not to pull all their savings out of the bank.
Translated this means to pull every red cent you have out of the bank, as quickly as possible.
Have we heard from Ghordo, yet?
No -- if Greece leaves, I seirously doubt he ever shows back up here again.
I am seriously starting to think he is actually Wolfgang Schäuble.
I'd hope that he's not ill personally.
No no no -- Ghordo has a almost half-decade tradition of doing this at Zerohedge.
He'll bang on and on about the virtues of the EU and the EZ, and then when things get shakey he disappears -- turning back up again after its "fixed" gloating about how European Unity saved the day, and then the process repeats.
In 2012 he was especially on point when he popped back up here July 26th when everyone thought the EUR was finished, and said how the problems were solved, and everyone should go long EUR, Spanish and Italian debt. Literally the next day Draghi gave his "whatever it takes speech."
Ghordo says he is "self employed" and is most definitely a German (based off of his English fails) and is either German or Austrian, but I lean German as according to him, he and his family have hot debates about the Soviet assault on Berlin. Only Germans do this.
He also says he is quite old, late mid to late 60s, perhaps early 70s. He knows personally a few higher ranked politicans from not just Germany but from other countries.
So he is an elderly German who has 100% reliable information as to EU and EZ monetary police ahead of time.
The list gets smaller constantly.
yeah I've seen the comings and goings over the years, he's defiantly late 60's though which made me pause and think. I hope he turns up ok, we got things to say to him ;) lol
If he ever shows back up again, I would be as surprised as if Greece actually leaves. That being said, if he really is Wolfgang Schäuble, he will never ever ever admit it. The Press would be going thought literally every one of this 10000+ posts over the past few years trying to find clues, slip ups, incongruencies. ETc., etc.,
Maybe that's why all the old posts were deleted...
Touché
Haus, You are more dialed in and closer to what's actually going on in the EU/EZ as NoDebt has pointed out.
You made this comment above "I would be as surprised as if Greece actually leaves"...
What do you base this on? Isn't the hour kind of late? Also it doesn't seem as if the various parties aren't bluffing anymore given the amount of damage already done.
I somehow doubt Schäuble would have the time and nerves to post in here, but he might be someone who worked high up in the economics or finance ministry of Germany and now has some knowledge of what's going on behind the scenes and contacts. And if he's worked on this project (Euro) he wouldn't want to see it gone.
I also believe it when it's done, up until then I think they will try to find a way for Greece to stay. All their comments about "Doors are still open..." "We are willing to resume talks with Greece..." points straight to that direction.
Let's see...
He is an MP in EU Parliament and a private etrepreneur.
Well, at least that's what he said.
I base it on a few things;
If Greece leaves you will have a country the size and population of the Czech Republic, which is not only defaulting but start a new currency at the same time. These two vary rarely happen together. It will be chaos for Greece, and the Greeks know it. They would be wise to default, wait a month or two and then adopt the Drachma.
However, Greece really is small beans when compared to the rest of the EMZ.
Greece owes north of $300 billion, or roughly 5x the size of Lehman brothers. Now unlike Lehman Brothers, Greek debt is highly concentrated in a few institutions, the ECB, IMF, EFSF and ESM predominately. If Greece leaves and flat out defaults, the ECB, EFSF and ESM are insolvant overnight. This means that the loans various EU governments made to the EFSF And ESM will be bust overnight as well. E.g., the interest these govenrments have been receiving from these funds will drop to zero. Not that big of a deal, but still material. The ECB will do one of two things, 1) cash call from its other member banks, or 2) print a ton of EUR to fund itself. I suspect the later, as the PIIFS don't have the cash to recap the ECB.
The other thing is Target2 Balances, which Greece is gobbling up (e.g., writing IOUs via the Target2 system) will also go defunkt. Meaning all the liabilities that the Bank of Greece has written to the ECB will go to zero, leaving the EU via ECB, EFSF & ESM at this point with almost 500 billion in losses.
The ECB would either have to step up to the plate and print a TON of EUR to keep the Target2 intra-bank trading system going, or it too falls apart, making BuBa and Luxembourg bankrupt overnight.
I can go on with the scary run-on effects for hours.
The question will answer itself in how the ECB/IMF changes the rules in the hours following a GREXIT. If the ECB and IMF "play fair" e.g., don't change the rules to fit their needs as a going concern, then its game over world wide. I suspect both institutions will be changing the rules and the system will keep going for a time, but a GREXIT will ultimately bring about the end of the EUR and EU. When? No idea. But you cannot write off 300 Billion EUR and not expect a few things to go bust.
good stuff, great reply. thanks.
I didn't sit down to read until I had my coffee ready )
ThE ECB cannot go bust because it is a central bank. It can run with a balance of negative infinity in its own currency if it has to. Nobody can collect and put them under. And if they owed in a foreign currency, they would get help from foreign central banks. The Fed, JCB and the PBOC won't let the ECB go bust.
The real problem for the EU is political. After Grexit, they must move at light speed toward full imperial integration. Full fiscal union. If they don't, Porkexit, Spexit, and Frexit loom. If they do, Brexit is probably guaranteed because the Brits won't accept full integration - but the EU really wants this anyway.
The "Fed" technically went bust in 2013 when it had to print money to just keep printing money
http://www.zerohedge.com/news/2013-02-23/when-fed-has-print-money-just-p...
Central Banks can and do go bust. Most people never notice because they have the ability to recap themselves by creating the cash out of thin air.
It's a common myth that central banks can't go bust. It only works for as long as confidence in its currency is retained. If a CB uses up all its equity or has negative equity then, if it wants to reduce money in circulation to stabilize its currency it won't be able to do so because there is no collateral it can hand out to banks, which will trigger an erosion of trust and the whole thing goes wham...
It is true, however, that a temporary negative equity is possible, if there is no need to reduce the amount of money in circulation during said time and confidence in the currency is maintained.
A famous quote from a member of the SNB board was 'Well in the worst case a CB can just print money and buy gold to stabilize the currency', if this were always true CBs could buy up all gold creating money out of thin air and would never need to worry. Reality is different...
Hahahaha. Best laugh I've had today.
The Tylers could certainly reveal whether that's a possibility or not given his IP logins would identify where he signs in from.....
obviously you have never heard of a toroid ring browser. does not reveal your ip.
THat is true, but Greece can not stand on its own. It needs resources. It needs a friend.Who ever they pick will determine What kind of nation they have going forward. I see plenty of turmoil the next 10 years. Greece is like that alcoholic. First you have to understand that you have a problem, That you were the cause of the problem and that you are going to have to live much different if you are ever going to be better. They are not even close. Lots of turmoil ahaead.
+1
The alcoholic must also come to the realization that his buddy the bartender, who continued to ply him with drinks and putting the cost on his tab, is no friend.
The Bartender is not going away. They are going to have to say No Thank you and they must realize that they can not party ever again, not even a liitle bit. Individuals can do it, but not Nations. Turmoil and loss of all freedoms straight ahead. Enjoy.
Maybe they found a friend at the St Petersburg meeting a couple of weeks ago.
Greeks with Syriza at the helm will opt for a future liver transplant and plan to pay it off by panhandling.
Oppa!
One must have something of value to monetize, to have friends.
im thirsty, out of money and can't pay the tab. ill work cleaning the bar for two weeks and in return one moar drink, plez, im ok if you are? ps. ill quit tomorrow, ha...
HECTIC!
https://www.youtube.com/channel/UC24i0-R52E-Y4PHhsjLUbYg
No doubt William, Washington DC will kill him if he doesn't stick to the script. He ia allowed to create drama, but disodediance will not be tolerated.
Who is standing in Greek way to exit EURO and go back to drachma? Why greek goverment has not announced that plan already?
P.S. Where putin regime trolls get these pictures? You guys have like some knowledge base? :D
Poor quality though.
Fund Manager warns gold could open "Bid Without" if Greece blows up.
http://www.silverdoctors.com/if-greece-blows-up-and-financial-armegeddon...
Things are about to get interesting!
I am shocked. Shocked and disappointed this wasn't a King World News headline.
Erics histrionic hyperbole was made for moments like these.
Eric you are losing your game!
"The Governing Council is closely monitoring the situation in financial markets and the potential implications for the monetary policy stance and for the balance of risks to price stability in the euro area. The Governing Council is determined to use all the instruments available within its mandate."
OMT on deck.
Greece - Game Over.
Cyprus was only a test..........get zee money out now.
If you're Greek and you didn't see this coming four years ago, it's far too late now.
If you're American; you have been warned...
The NewsTicker
The Greek people now have the right to decide whether or not they want to accept more austerity measures in return for loans that have thus far failed to help the Greek economy
GR Final Countdown:
http://tersee.com/#!q=greece&t=text
EU wants to force Greece into submission. And they hope to win the election this way by saying 'Look the moment you vote yes, ATM's will switch their lights back on, vote Yes don't worry we can get everything back to normal for you, but sign the contract in blood!"
Greece needs to nationalize the banks prior to Monday opening.
Every other day, every other day,
Every other day of the week is fine, yeah
But whenever Monday comes, but whenever Monday comes
You can find me cryin' all of the time
+1 for the Mamas and the Papas reference.
Can't trust that day...
The banksters are so scared the 'markets' might actually go down, shock horror, so they will probably not let them open cos people might actually sell and that can never ever be allowed
OK, if I have to buy more popcorn for this movie, I want my beer at half price.
All part of the NWO plan. Less commentors on here get it than I had hoped.
It's too soon dude. They're not ready yet for the failure...eventually yes but not yet.
You can only sit through the same movie so many times...
"Happy Holiday
Happy holiday,
While the merry bells keep ringing
May your every wish come true"
Where is the Bingster when you need him?
What's the cost of a printing press these daze? Let 'em print euros and send the whole zio-fiat enterprise off the rails once and for all.
I think GS should bail out Greece.
no money in the bank? what a surprise...
(unfortunately, i must admit that before i woke up, i too, believed that the banks really "had" their customers money...what a gigantic con game this all is...)
Iceland Bitchez'
Why is this so hard to understand?
Reintroduce the Drachma, arrest Rothschild bankers, don't fly for awhile and within 2 years you'll be just fine.
They reintroduce the Drachma and there'll be so many tourists over there they'll be sleeping in tents.
The interesting thing to see what will be the spread between the offical exchange rate and the street rate.
We always knew .... they would ban Gold .... again .... the shocker is .... they are going to ban FIAT !
you nailed it! gold is not important anymore, at least not for the establishment, because the masses have been indoctrinated. it doesn't mean they can't make it irrelevant or straight-out useless overnight by taxing it, say, up to 50-90%. banning is pointless, no direct gain but a lot of regulation instead. it's much worse this time. it's the FIAT they are after. not that gold or fiat form a big part of the system but they are the exit or the escape route from the financial tyranny.
i visited my banker few weeks ago. first thing she said is that they are going to get rid of all cash. i asked who has made that call. it sounded impossible, straight out of some grim dystopia. she couldn't answer that but the policy is in place, she added. i'm in eurozone. norway and denmark are leading the way.
so for me, the question really is, gold or cash, when and to what extent?
ECB KEEPS GREEK EMERGENCY BANK AID UNCHANGED
I wonder what the algos are going to do when the markets open...
Algos will BTFD as they always do.
To the moon Alice!!!
Wealth was stripped out of Greece (for years) and a clever delaying plan to let the people believe all was well was put in place. Now the dust settes and all that is left is unbearable debt and all that comes with it, the real money long gone/moved. A NATO member, EU member discarded as waste but the demise was no secret to the bean-counters and their leaders, something else is amidst, Greece is too strategic to ignore. Debt is the WMD of the commoners as they are the ones left with it, bear its consequences. Sadly it is merely fiat but it works.
It's on. Good luck Greeks.
"No Money" sign is photoshopped. I am in Athens now enjoying a nice lunch in a very full cafe. Got money from an ATM. Euros at ATMs are easier to come by than gold at local shops...there is none to be had....
Life goes on....
Fuck the EU
fuck the ECB
Fuck the IMF
Fucken das Bundesbank
Fuck the world bank...
Fuck...I'm not even Greek...
Greece just jumped from 30,000 feet...pulled the rip cord...and crap there is no chute...it will be a hard landing....but most will survive. My bet is these full cafés will be full all week....not many will notice nor really care.
doubt very much they will have any food by Thursday to sell.....
Greek euros, you mean.
They may turn out not to be worth very much soon.
That's the human spirit! Ignore realities, inconvenient truths, and when it all ends blame someone else and expect them to take care of you. Responsibility is no longer a virtue.
all #Goldmans assets should be siezed and given to #Greece
How many Kevin Henrys will be buying as soon as US markets open? The Greek reality cannot be allowed to intrude into the reality of the empire:
We're an empire now, and when we act, we create our own reality.
As EU citizen and representing EURO zone country I can only say this about greeks:
"Kick them out! Kick them out! Kick them out!"
Greeks - it's time to grow up! Be responsible for your country and your financial situation. Don't come to other to beg more money. Time to man up and pay back money you took.
eh? europe union is a failed concept and it shows why .
Sorry EU citizen. EU is the big bully and Greece is the small kid standing up to the big bully. I hope Greece kicks his ass!
No.
Greece is the Junkie and EU is the Drug Pusher...
it will not help by now
as far as i understand it one mans unpaid debt is another mans missing colateral in our wonderfull globalized world
its gone, and all this chitchat over the years was a stupid method to hide that.
even better: it was a method to even make money out of missing money.
now the horse is dead and the truck is rolling backwards down the hill
The knackers will still buy it.
According to Attac, 80 % of the "aid" "given" to Greece went to bail out its banking system. Spain debt tripled since 2008 because.. of the banks and our financiarised economy that created the real estate bubble. But yeah go on, blame the people. There will be adjustments to be made to the welfare states, but it does concern the whole western world. If things has spiraled out of control since 2008, this is because of the banks.
As EU citizen and representing EURO zone country...
Who exactly appointed you to represent that "EURO zone country" ?
Once again,
If you owe the bank $5000 it's your problem
If you owe the bank 300 M Euro its the banks problem.
I see the same thing with the youth here in Canada, mortgaged to the teeth, with new cars and trucks. society has been indoctrinated to be massivly in debt, cannot pay cash just BORROW!
Who's problem will it be when the economy tanks or interest rates rise.
I renewed my mortgage a couple of months back and the banker told me that they they are really pushing her to loan out more money. when the margins/interest rates are low bankers need to loan out moar.
Tick Tock!
Fuck Troika, get out of the EU and introduce private money.
Taxes should be payable in gold, silver or bitcoin.
Fuck Taxes......stop feeding the beast. Spend your gold and silver on something productive.
No, pay taxes with their own fiat, keep the gold, silver or bitcoin.
Greece. The Troika doesn't want the Greek people to have their voice, they are afraid of it, they want no democracy in their union. Therefore Greece has little option for the betterment of the future or Greece than to now totally default on all its obligations.
Troika.. Hang on there a moment guys....
Ripple effect, coming soon...
It has changed again, ECB keeps giving money to the banks.
@yanisvaroufakis would you like some feta with that whine? this move was to be expected. this is why you don't let a bunch of maggots grab you by the ballz in the first place. if you had your own currency you could guarantee domestic bank deposits yourself. be a man, make a plan, and stop being a bitch bitchez.
I want DCS and tactical database assimilation by 0830. Ordinance loading, weapon-strip and dropship prep details will have seven hours. Now MOVE IT, people.
ah-ooog-ah
Freezing ELA?
Nothing at all......ELA is constantly pumped into the black hole at same level: http://www.welt.de/wirtschaft/article143195781/EZB-verlaengert-Notkredit...
I get all those Greek letters and symbols like "delta" but what does "no money" mean?
...what does "no money" mean?
EFTPOS
EFTPOS works when there is confidence in the system. Once that confidence is gone, only physical money will be accepted. Gold, silver, olives, sponges.....better learn some bartering skills
Fish and chips .... if you don't have an implanted chip .... no fish for you ?
Greeks are irresponsible and that has led to this situation. First they falsified data to get into EURO zone:
http://www.independent.co.uk/news/world/europe/greece-admits-deficit-fig...
Than they took more and more loans never thinking how they can pay it back:
http://content.time.com/time/business/article/0,8599,1984192,00.html
Now they have to stand up and pay back money they took and what they do? They are trying to make a referendum on question should they pay back money they took!
http://www.telegraph.co.uk/finance/economics/11700327/Greece-debt-crisis...
Greeks - grow up! Man up! Start taking responsibility for your actions! Now - get out of EURO zone. Maybe even out of EU! And come back when you have grown up! Star taking your responsibility by paying back you took from creditors!
Hey it was all a Trojan horse to begin with: Fool me once, shame on you; fool me twice, shame on me.
What was Trojan horse? Greeks have democracy not like in Russia where they have putin regime rule. So greeks had option to vote in people they want to respresent them. So what they did al these years was their will.
Exactly.
Face reality pal.
You got fucked at the drive thru.
https://www.youtube.com/watch?v=lWfaiTLPUKQ
It doesn't work that way.
I live in the U.S. Every four years we have a Presidential Election. It's a huge deal, complete with massive flag-waving "Get Out The Vote" drives. We get to choose between two candidates: a stooge for the Republican party or a stooge for the Democratic party. One side wins, generally with about 52% of the electoral vote (sometimes less).
The winning party then declares a "mandate" for their policies and goes off and invades Iraq, creates giant unfunded health insurance programs, declares war on Kraft Macaroni & Cheese Dinners, or whatever.
Poor Tippy is left paying taxes and pissing & moaning about it all on Zerohedge.
There where 7 parties in Greek elections 2012. Not Two.
So what you suggest to do? Not to vote? What is alternative?
The alternative is to allow Greece to jubilee a bankruptcy.
Sorry 'bout that.
Lol like there is democracy in usa . Do you think there is democracy in baltics ? A bunch of sooks who oppress monorities in their country call itself a democracy . Only those leaders are allowed to win in baltic who obeys to usa orders and if they hesitate they are being bribed with suitcases of cash or their political career is over . Get over your farce democracy douche.
"monorities" :D
What is the problem with "monorities" in Baltic states? Everyone has a chance to pass exam of naturalization and become a citizen. But that means you have to know language of country you live in. If you are not complete idiot you can learn it. Unfortunately majority russians that is problem as they are majority idiots that can't learn anything. Majority simply drinks vodka till they drop. Work low wage jobs and never learn anything.
in presidential elections of russia multiple parties contest ( more than usa elections ) but still its not democratic according to sump shoeboys in baltic then why one should consider yours election as legitimate .
one thing is evident that if a baltic leader isnt ready to kiss usa ass they will never going to get elected . Suck it up latvian your politicians are simple sooks following usa orsers they cant even exercise their free will in foreign policy . baltic elections are as sham as amerikans . Party leades being paid by cia to run their rendition sites in baltic . what else proof you need ?
Basemebt trolls like you arent even capable enough to learn anything .
So if majority of citizens in Latvia support Latvia alliance with USA, being part of EU and vote according to it - it's a sham?
But if majority voted in support of putin regime it would not be a sham?
How low can you troll?
In Russia under putin regime oppsoition is jailed because of corrupt justice system in Russia, or killed. All major main stream media is controled by putin regime and than they have their free vote :D Now that is a sham.
P.S. You are putin regime paid troll who just used this logical fallacy https://youtu.be/exdK7Lirngg
GS told them to falsify data. Were paid for this "advice"
Where is proved this fact? Post a source. Or it was just your or some troll imagination?
Go look it up. Some of us have functioning memories, unlike you. Look into also how the ex-Greek president, another GS alumni, sold off their credit default insurance just before it was needed.
"Go look it up." Is not a source. So you admited it was your imagination.
newsdouche- how does banker cock taste?
Man, the Hasbara are really digging down into the dirt to find trolls.
I know its probably a waste of time, but three seconds on google.
http://www.zerohedge.com/news/just-what-mario-draghi-hiding-ecb-declines...
http://www.nytimes.com/2010/02/14/business/global/14debt.html?pagewanted...
"In 2001, just after Greece was admitted to Europe’s monetary union, Goldman helped the government quietly borrow billions, people familiar with the transaction said. That deal, hidden from public view because it was treated as a currency trade rather than a loan, helped Athens to meet Europe’s deficit rules while continuing to spend beyond its means."
But in the end - who hidded it from ECB? It was Greece!
Tyler et al have written tons of articles here on ZH about how Goldman pushed the Trojan horse into the EU.
He's a new bolshevik troll.
- Biography
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Relationshipshttp://stopputinregime.wordpress.com
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History+1 Nice research.
one click on my user profile is really "huge research" :D
Idiot! I have posted that on purpose on my profile.
I just love your 'sporty' fashion sense...
http://stopimperialism.org/wp-content/uploads/2014/01/ukrainian-national...
Now putin regime is a real nazi organization and everything around it:
http://romaninukraine.com/wp-content/uploads/2014/05/Russian-Orthodox-Ch...
https://www.google.co.uk/search?q=russia+nazis&hl=en&source=lnms&tbm=isc...
You mean newsdouche is a troll? I'm shocked