Commodity Trade Mantra

Posts Tagged ‘Greek Banks’

Greece Just Lost Control Of Its Banks - Why Deposit Haircuts Are Imminent

One of the preconditions imposed on Greece for a deal is that it signs into law European rules that would put eurozone authorities at ECB & Brussels in charge of identifying & closing or breaking up sick banks. There will be absolutely nothing Greece can do to avoid it as on Wednesday, the government will vote to hand over its sovereignty to Europe for absolutely nothing in return.

Gold Is A Necessary Insurance Against Dysfunctional Governments

It seems that there is a very clear purpose for governments wanting to create a cashless society and that is, once they have your money in the system, it belongs to them. In order to protect your funds against this shameless act, put some of it into gold and silver. Gold and silver bullion coins and bars are traditional diversification tools.

Why Is EU Forcing European Nations To Adopt Bail-In Legislation?

The European Union says that any nation within the EU that does not enact bail-in legislation within the next two months will face legal action. Is there a reason for this & thus also the hard deadline? Are they anticipating that something really bad will happen in September or thereafter? Why such a rush?

Will They Confiscate Money From Bank Accounts In Greece - Like Cyprus?

ECB is up to its eyeballs swimming in unpayable Greek debt that it holds & has only 2 alternatives. It can push the €112 billion of Greek debt it holds to the national central banks of the Eurozone & on to the backs of the taxpayers in those countries. Or confiscate depositor money in Greece, like it did in Cyprus.

ECB - European Central Bank is Getting Tougher on Greek Banks

ECB now wants to impose further control for Greek banks looking to secure emergency loans. It makes you wonder if they’re interested in keeping Greece in the European Union at all. The ECB’s move to limit the amount of money Greek banks can access will only increase the chances of Greece falling further under Putin’s spell.

At The End Of The Road - Greece Prepares For Default, FT Reports

A default would almost certainly lead to the suspension of emergency ECB liquidity assistance for the Greek financial sector, the closure of Greek banks, capital controls & wider economic instability. Unfortunately for Greece, the default threat has been used, abused & denied so many times, nobody cares, or believes it will be used.

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