I expect the Germans and the French will eventually relent enough and work out some sort of deal which will be better for Greece, they'd be seriously worried if Greece started recovering outside the eurozone and then Italy and Spain started taking notice.marksmeets302 wrote:Very surprised "Grexit - Yes" is trading at implied chance of around 35%
Many banks say they value a grexit at 80% to 90%.
Eurozone debt crisis
makes for a good read, especially the comments after the article!
I dunno but I lean towards; the banks are just a convenient scapegoat, really the problem is people wanting to spend more than they can afford, and then the governments helping them because it helps them get elected. The banks really just respond to demand and regulation and there's no one really there with any big plan. All the unaffordable mortgages that caused the financial crisis was because the US government forced the banks to give mortgages to people without jobs
I dunno but I lean towards; the banks are just a convenient scapegoat, really the problem is people wanting to spend more than they can afford, and then the governments helping them because it helps them get elected. The banks really just respond to demand and regulation and there's no one really there with any big plan. All the unaffordable mortgages that caused the financial crisis was because the US government forced the banks to give mortgages to people without jobs
No government ever forced banks to give loans. Banks are private corporations, and guess what private corporations are interested in most? PROFIT! Its all dandy at first, but things go tits up, and then its publics duty to pay all off those bad loans. Capitalizm for profits, socialism for losses. this world is fcked.
- superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
poklius +1
so they've finally kicked the can (as instructed by the US last week).
don't know what happened to Tsipras - he's obviously been had somewhere.
the deal is in reality a complete loss of sovereignty (they've even told them to allow Sunday shopping!) in exchange for 100 years of debt servitude.
it won't last; they'll still default sooner or later.
so they've finally kicked the can (as instructed by the US last week).
don't know what happened to Tsipras - he's obviously been had somewhere.
the deal is in reality a complete loss of sovereignty (they've even told them to allow Sunday shopping!) in exchange for 100 years of debt servitude.
it won't last; they'll still default sooner or later.
- marksmeets302
- Posts: 527
- Joined: Thu Dec 10, 2009 4:37 pm
which might be a good thing for the Greek people. The greek government can't be trusted. Not by the EU and not by their own people.the deal is in reality a complete loss of sovereignty
I wonder how Tsipras is going to defend this deal in light of the outcome of the referendum. Democracy my ass.
The Greek Warrior
How a radical finance minister took on Europe—and failed.
http://www.newyorker.com/magazine/2015/ ... ek-warrior
How a radical finance minister took on Europe—and failed.
http://www.newyorker.com/magazine/2015/ ... ek-warrior
The Big Short: is the next financial crisis on its way?
Steve Eisman is short Italian banks.
https://www.theguardian.com/money/2016/ ... banks-risk
Steve Eisman is short Italian banks.
https://www.theguardian.com/money/2016/ ... banks-risk
- marksmeets302
- Posts: 527
- Joined: Thu Dec 10, 2009 4:37 pm
could be set in motion by the Italian referendum...