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Message Subject GREECE SITUATION UPDATES: The death of a 19-year-old Greek student has come to symbolize everything that's wrong with austerity!!!
Poster Handle Luisport
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Everyone Agrees: The ECB Is About To Make The Biggest Decision In Its History

All the politicians in Greece (even the mainstream ones) have said they want to renegotiate the bailout agreement.

If the rest of Europe doesn't back down and agree to this, then the ECB will have to make a huge decision.

From JPMorgan

Unless Greece chooses to leave the Euro area, which we doubt will happen, a Greek exit will require the rest of the re-gion to push the country out. The mechanism for this will be the ECB excluding the Greek central bank from TARGET2, the regional payments and settlement system. Although this might look like a technical decision about monetary plumb-ing, the ECB will elevate this to the Euro area heads of state. It will be the most important political decision since EMU’s launch.

And this was from Jefferies' David Zervos
Read more: [link to www.businessinsider.com]
 
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