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 INTERNATIONAL ECONOMIES 
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Post Re: INTERNATIONAL ECONOMIES
In addition to the data in the paragraph copied below, Russia has reminded Greece that the food export ban will not apply if it (Greece) decided to leave the EU!

Simon

Russia's Modest Proposal To Greece: "Exit Europe And We Will Lift The Food Import Ban"

http://www.zerohedge.com/news/2015-01-17/russias-modest-proposal-greece-exit-europe-and-we-will-lift-food-import-ban

Quote:
It has not been a good week for Greece: first we learned that its treasury has run dry as Greece have stop paying all taxes ahead of the elections (and likely after), making further reforms virtually impossible as the government simply does not have the cash to promote economic changes; then we found out that first two then all four of the largest Greek banks have submitted Emergency Liquidity Assistance requests to the ECB to preserve liquidity in light of a deposit run that is picking up pace. And yesterday, adding insult to injury, Spiegel leaked that while seeking preapproval from Merkel for his QE program to be announced next week, Draghi told the Germans that Greek bonds won't be among the securities monetized by the ECB.

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Sat Jan 17, 2015 6:11 pm
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 Re: INTERNATIONAL ECONOMIES
Its happening... almost within sight now!

Simon

------------------------------------------------------------

Greece eyes last central bank funds to avert IMF default

Greece is preparing to tap its final pension reserves at the country’s central bank if needed to avert a devastating default to the International Monetary Fund and keep the government going over the next two weeks.

The Greeks must pay the IMF €1.5bn in a series of deadlines this month, starting with €300m as soon as Friday. No developed country has ever defaulted to the IMF in the history of the Bretton Woods financial system. Such a move would shatter confidence and reduce Greece to a financial pariah in motley company with Zimbabwe.

http://www.telegraph.co.uk/finance/economics/11445627/Greece-eyes-last-central-bank-funds-to-avert-IMF-default.html

-----------------------------------------


(Two links to stories about an Austrian bank that is poised to make some bail-ins. The Silverdoctors link also looks at the Greek situation and whats happening [financially] in Ukraine, which seems to be too similar to Greece for anyone's liking).

"Spectacular Developments" In Austria: Bail-In Arrives After €7.6 Billion Bad Bank Capital Hole "Discovered"

http://www.zerohedge.com/news/2015-03-01/spectacular-developments-austria-bail-arrives-after-%E2%82%AC76-billion-bad-bank-capital-hol

http://www.silverdoctors.com/harvey-organ-huge-default-coming-to-a-big-austrian-bank-expect-a-major-bail-in/

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Tue Mar 03, 2015 5:18 pm
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Post Re: INTERNATIONAL ECONOMIES
http://www.bbc.co.uk/news/world-europe-33009034

Quote:
Greece has told the International Monetary Fund it will delay Friday's €300m (£216m) debt repayment and bundle all four of its June payments together.

The Athens government will have until 30 June to pay the €1.5bn total, which is also the day on which its bailout deal with the EU and IMF runs out.

Prime Minister Alexis Tsipras is trying to reach a deal to unlock final bailout funds before Greece runs out of money.

IMF spokesman Gerry Rice said that under a precedent dating back to the late 1970s, governments could ask to bundle together "multiple principal payments falling due in a calendar month... to address the administrative difficulty of making multiple payments in a short period."


So if Greece fails to pay at the end of June then it will be the end of July before its truly in default...

Simon

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Fri Jun 05, 2015 3:06 pm
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Post Re: INTERNATIONAL ECONOMIES
Its a time bomb just waiting to go off :scared

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Wed Jun 10, 2015 8:49 am
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 Re: INTERNATIONAL ECONOMIES
well its 30th June 2015, Greece has not yet made its payments and its banks have closed. If the Greek people can find an ATM which has cash to dispense they are limited to a paltry 60 Euros.

We are about to enter uncharted waters!

Simon

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Tue Jun 30, 2015 2:07 pm
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Post Re: INTERNATIONAL ECONOMIES
simple simon wrote:
well its 30th June 2015, Greece has not yet made its payments and its banks have closed. If the Greek people can find an ATM which has cash to dispense they are limited to a paltry 60 Euros.

We are about to enter uncharted waters!

Simon


This is going to interesting in Europe thats for sure, hope your well Simon please keep up to date with what your hearing from across the pond

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Fri Jul 03, 2015 5:16 am
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Post Re: INTERNATIONAL ECONOMIES
The banks had reopened by the end of last week and on Sunday 5th July there was a referendum asking the people of Greece if they accepted even further austerity. They voted no, approximately 61% - 39%.

The banks have closed again and it seems that the next act in this drama will come on Wednesday 8th July. It is likely that the Greeks will be told that there is no more money and time is up. They must leave the Euro... at least for a while.

In the meantime I understand that Puerto Rico is also in trouble (financially), and so is the Chinese stock market with it having fallen by so much that it equated to the entire GDP of Brazil!

Clif High has tweeted a message about Chinese and Greek (financial) fireworks on the 8th and also a picture of a man (could be Putin, the image is somewhat distorted) eating from a very large bucket of popcorn.

btw, in a tweet a few days ago Clif pointed out that the last time the Chinese stock market fell like this was 1929, and of course we all know what else happened in that year!

Simon

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Mon Jul 06, 2015 2:57 pm
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Post Re: INTERNATIONAL ECONOMIES
Well that does not sound good at all Simon yikes :awe

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Tue Jul 07, 2015 4:51 pm
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Post Re: INTERNATIONAL ECONOMIES
SYRIZA Forces Demand “Requisitioning” of Greek Central Bank

(do this and wow, life becomes sensationally exciting & Grexiting: Go Greece, please do it!!!)

http://www.voltairenet.org/article188066.html

While the international press announced possible failure to Greece liquidity by the European Central Bank, a major faction of SYRIZA plans to declare a state of emergency and invoke the Treaty of Lisbon against the ECB.


Quote:
“Syriza sources say the Greek ministry of finance is examining options to take direct control of the banking system if need be rather than accept a draconian seizure of depositor savings – reportedly a ‘bail-in’ above a threshold of €8,000 – and to prevent any banks being shut down on the orders of the ECB. Government officials recognize that this would lead to an unprecedented rift with the EU authorities. But Syriza’s attitude at this stage is that their only defence against a hegemonic power is to fight guerrilla warfare.”

[snip]

“Such action would require invoking national emergency powers – by decree – and ‘requisitioning’ the Bank of Greece for several months. Officials say these steps would have to be accompanied by an appeal to the European Court: both to assert legality under crisis provisions of the Lisbon Treaty, and to sue the ECB for alleged ‘dereliction’ of its treaty duty to maintain financial stability.”


Full story at link (above).

--------------------------------------------------------------


Looming deadlines for Greece

:scared :shakehead :shtf

source:
http://www.telegraph.co.uk/finance/economics/11719688/Defiant-Greeks-reject-EU-demands-as-Syriza-readies-IOU-currency.html

Quote:
Any day this week
With or without emergency liquidity, Greek banks are likely to run dry.

July 13
Greece must find another Euro 465 million currently owed to the IMF. It is already in default.

July 20
Most crucially, on July 20 it must find Euro 3.5 billion to pay the European Central Bank. Default on this will force the withdrawal of those emergency bank loans. Financial collapse and Grexit follows.


Simon :popcorn

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Wed Jul 08, 2015 2:24 am
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Post Re: INTERNATIONAL ECONOMIES
Greece seems to be getting its bailout, although not without much pain and controversy.

The Prime Minister has actually gone against the public's wishes in agreeing to a €86bn bailout that will require further austerity and many members of his political party refused to support the government when the bailout was voted upon in the Greek Parliament.

Whilst this was happening there was a small scale riot outside the Parliament building.

Despite being involved in its funding the IMF was not happy with the bailout, because it wanted to see more debts written off. But the Germans refused to agree to this. The IMF said that the Greek debts were "highly unsustainable" and urged debt relief on a scale "well beyond what has been under consideration to date".

Whilst the bailout process continues it seems that a €7bn bridging loan will be made to Greece - so that it can make scheduled repayments.

I saw somewhere that the bailout is only until mid - August. But it could be that they were referring to the bridging loan, with the bailout expected to be finalised and allow the bridging loan to be repaid in August.

"We Shall See", as the saying goes. :popcorn :popcorn

Simon

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Thu Jul 16, 2015 3:03 pm
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 Re: INTERNATIONAL ECONOMIES
Germany Wastes No Time, Puts Greece "For Sale" On Craigslist

http://www.zerohedge.com/news/2015-07-16/todays-craigslist-firesale-special-greece


"For sale are some recently acquired Greek assets for sale:

Acropolis € 4B OBO
Greek Parliament Building Syntagma Square + € 8.5B OBO
Greek Island Aegina € 10B OBO
Greek Island Mykonos € 13B OBO
Athens International Airport € 7B OBO


If interested, please contact:

Angela Merkel:: +49 (0) 30-220 70-0
Wolfgang Schäuble: +49 (0) 30 18 682-0


Serious buyers only please.


"We are confident the Q&A form the first Greek offer still stands. Questions and answers about this item:

Q: Is it possible to bundle your sale with Iceland? I would consider a package deal!
A: I'm sorry to tell you,but Iceland is in much better condition than Greece.


Q: I was wondering if you would be able to combine shipping with any future eurozone countries (i.e. Italy) you may have for sale. Also, would the sea between the islands be included or excluded in the package? Thank you for your cooperation.
A: I can arrange a big discount for any future transactions!

Q: Hi. I am very interested. However, I need your assurances that before I bid, you will exclude all corrupt banks, Goldman Sachs cronies, JP Morgan criminals, and the rest of the Draghi / ECB ex-Goldmanite corrupt insider trading white-collar criminals from this offer? I don't want my purchase of a beautiful country to be tainted with satanic banksters. Thanks in advance.
A: Greece doesn't need any of those to be f****d up As you can see, the offer includes our whole parliament! 300 of our finest politicians!

Q: Hi. Is it possible to deport Zeus before auction ends? To USA for example.
A: I'm afraid of the other god's wrath. They might feel insulted,i cannot take any chance! I hope that you can understand my concerns.

Q: Hi. I would like to have this land mass shipped closer to home here, but there seems to be far too many bits and pieces. Are you able to compact it all together into one single parcel for shipping? I'm sure it'll be more economical (if that term is understood?) to do it this way too. Cheers!
A: Hmmm... You may have a point here my friend. But i'm afraid that they may broke, they are way too fragile in order to pack them one on top of the other. Maybe teleportation can work! "

More at link above :shakehead

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Sat Jul 18, 2015 2:31 pm
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Post Re: INTERNATIONAL ECONOMIES
Greek banks have reopened, Greece has made its scheduled repayments, on the surface all seems hunky-dory.

But, people can still only withdraw 60 Euros a day (albeit in one go rather than on a daily basis), there are allegations of death threats towards close family members of the Greek decision makers and some pundits expect rioting on the streets.

So, who knows, later this year / at some stage next year there will be a revolution and a Grexit???

Simon

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Tue Jul 21, 2015 2:48 pm
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Post Re: INTERNATIONAL ECONOMIES
Today, Thursday 20th August 2015, Greece received the first €13bn tranche of the €86bn three year bailout, which allowed Greece to repay a €3.2bn debt to the European Central Bank and avoid a messy default.

Then the Greek Prime Minister made a shock announcement that he was resigning and calling a general election, which will probably be in September.

http://www.bbc.co.uk/news/world-europe-34007859

Simon

ps: I have seen channelled messages which talk about it now being time for prosperity funds and other things to become manifest. I'll believe it when I am debt-free and there is still oodles of money in my bank account! I am hopeful ;)

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Thu Aug 20, 2015 3:04 pm
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Post Re: INTERNATIONAL ECONOMIES
Well despite the bailout message above, changes are afoot.

A British newspaper has published an article suggesting that the people who may takeover in Greece (pending the general election) want to cancel the bail-out and take Greece out of the Eurozone. Hmm!!! We will know more later this week!

http://www.express.co.uk/finance/city/600381/Greece-to-leave-euro-after-all-MPs-make-bid-to-cut-from-Brussels-and-return-to-drachma


Also, with just about every stock market planetwide in freefall (caused by China devaluaing its currency and fear that their economy is on the rocks too) so a former advisor to a British Prime minister has made the most astonishing suggestion. Yes I know that alt news people have been saying this, and more, but not someone in his position.

This is the headline...
Quote:
Gordon Brown's ex-adviser says panic-buy BOTTLED WATER and TINNED GOODS over China crisis


http://www.express.co.uk/finance/city/600394/Gordon-Brown-Damian-McBride-buy-bottled-water-tinned-goods-over-China-black-monday-crisis

I mentioned this at home this evening and the response was that he's mad. In other words, his advice will be ignored.

Simon

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Mon Aug 24, 2015 12:52 pm
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Post Re: INTERNATIONAL ECONOMIES
I wondered if anyone would post this man's warning, I saw it on face book last week and meant to post here and totally forgot.

Thanks Simon time will tell :hmm

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Sat Aug 29, 2015 6:48 am
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Post Re: INTERNATIONAL ECONOMIES
L2L wrote:
I wondered if anyone would post this man's warning, I saw it on face book last week and meant to post here and totally forgot.

Thanks Simon time will tell :hmm


Well L2L, he is not the only person saying this... Dr Simon Atkins and Clif High have both talked about events affecting the UK 'soon' which would justify such actions.

When I told family members they laughed. They thought that it was a joke! My parents warned me that hoarding food is illegal and reminded me what happens to people who do this. Despite being young children they recall someone famous who was fined a lot of money during WW2 for hoarding food. Even though it had been stored from before the war so if anything by eating stored food he was benefitting the war effort.

Simon

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