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Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!

 
Luisport

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06/13/2012 07:37 AM

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Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
zerohedge‏@zerohedge

Zeit: Greece may need third bailout soon
[link to twitter.com]

Last Edited by Luisport on 06/13/2012 07:45 AM
Osmosys

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06/13/2012 07:38 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
I wonder what's gonna happen after the election this weekend.

Last Edited by Osmosys on 06/13/2012 07:39 AM
Luisport (OP)

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06/13/2012 07:40 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
CITI: Here Are 3 Greek Exit Scenarios! Everyone is pretty aware of the terrible situation Greece is in and with their newly elected anti-bailout leadership, it’s highly likely that they will leave the EU. In a recent analysis of the situation, Citi has released a mock up of three scenarios with the most disastrous being a “Disorderly GrExit”. In that scenario the VIX index, which indicates volatility, would reach 80 vols, a number not seen since the 2007 crash. CitiFX reports:

“1/ Managed Grexit with firewall in place but insufficient to remove EMU break up risk or risk aversion: Our analysis suggests that EURUSD can drop to 1.2000 under this scenario (Figure 5). We expect both VIX to move higher to 35vols and BTP yields to temporarily break above 600bp (Figure 5). In ‘International Interest Rate Strategist from 17 May 2011 Citi’s rate strategists published estimates of German bond yields that are theoretically with unchanged probability of EMU break-up as well as a spike in global risk aversion. In particular, German 2y yields which currently stand 6bp could trade as low as -35bp. In the case of the Bund yields, our rate strategists estimate a drop to 85bp from current 143bp. The BTP-Bund yields spread and Germany-US 2y bond yield spread are expected to widen/ tighten from current levels (Figure 5). Importantly, both Italy-Germany bond yield spread and VIX are expected to remain below their 2011 highs....


Read more: [link to www.sovereignman.com]
Ravan

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06/13/2012 07:41 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
I'm afraid it's no longer about a 'bailout'.

It's about saving the Greek people.

No jobs, no money to pay the rent, no food.. no nothing.

Unbelievable that we allow that to happen. They're our neighbors?!?
>! Fight Terror. Support Israel ! < Zionist by heart, mind and birth!
Luisport (OP)

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06/13/2012 07:41 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Owen Callan&#8207;@OwenCallan

GREECE: UNCONFIRMED reports that after losing to Czech Rep yesterday, Greece have now applied to borrow 3 points from UEFA lolsign
Luisport (OP)

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06/13/2012 07:42 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
FTSE 100 /quotes/zigman/3173262 5,457 -17 -0.31%
CAC 40 /quotes/zigman/3173214 3,028 -19 -0.63%
DAX /quotes/zigman/2380246 6,115 -46 -0.74%
FTSE MIB /quotes/zigman/1482176 12,874 -106 -0.82%
IBEX 35 IDX /quotes/zigman/2759620 6,590 +68 +1.04%
GlobalDow 1,767 0 -0.01%
Luisport (OP)

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06/13/2012 07:43 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
I'm afraid it's no longer about a 'bailout'.

It's about saving the Greek people.

No jobs, no money to pay the rent, no food.. no nothing.

Unbelievable that we allow that to happen. They're our neighbors?!?
 Quoting: Ravan


clappa
Luisport (OP)

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06/13/2012 07:44 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Greek Banks Are Bleeding Deposits! One of the great fears of the euro crisis is that there could be a run on the banks. In particular, experts fear that speculation of a Greek exit from the euro currency could cause a major run in Greece, potentially causing the banking system to collapse.

But according to Bloomberg's Elisa Martinuzzi and Christos Ziotis, Greeks are withdrawing their money at a pretty high clip:

Greek deposit outflows have accelerated before this weekend’s elections, two bankers familiar with the situation said, on concern the nation may move closer to abandoning the euro.

Daily withdrawals have increased to the upper end of a 100 million-euro ($125 million) to 500 million-euro range this month, one banker said, asking not to be identified because the figures aren’t public. A second banker said the drawdown may have exceeded 700 million euros yesterday. An official for the Bank of Greece (TELL), the Athens-based central bank, declined to comment.
...
At 500 million euros a day, deposit outflows would probably exceed the previous monthly peaks since the outset of the crisis, and wouldn’t be sustainable if they continued over several months, according to one person.

Reuters recently reported that EU leaders are considering ATM withdrawal limits and border checks should thing really deteriorate in the wake of a Greek exit.


Read more: [link to www.businessinsider.com]
Mr. Toppit

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06/13/2012 07:47 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
The world has been undermined by bailout artists. What have the accomplished?

Nada.
Luisport (OP)

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06/13/2012 07:47 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
The Greeks Learned A Dangerous Lesson From Spain

On June 17, when Greeks try once again to choose their next government, they may decide their country’s fate—or not. One thing is for sure, whichever parties will be able to form a coalition government, they will push for more bailout billions, but this time, forget the conditions, the structural reforms, the austerity. Just give us the money. And however much we want.

They’d watched how Spanish Prime Minister Mariano Rajoy had asked for a bailout ... after reassuring everyone with utmost sincerity and for the longest time that neither Spain nor its banks would need one.

Not a detail escaped the Greeks when, after the bailout meeting on Saturday, Rajoy proclaimed victory, saying he’d been offered €100 billion, no strings attached. That’s what Greek politicians wanted to hear—and they jubilated; the yoke of German-imposed structural reforms and austerity had been broken.

It didn’t matter to them how much German, Finnish, and EU officials protested that that’s not how they understood the agreement; there were, in fact, lots of strings attached, they said, which makes you wonder if there was even an agreement....


Read more: [link to www.testosteronepit.com]
Luisport (OP)

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06/13/2012 07:49 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
The world has been undermined by bailout artists. What have the accomplished?

Nada.
 Quoting: Mr. Toppit


Only to protect banksters!
Osmosys

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06/13/2012 07:50 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
The world has been undermined by bailout artists. What have the accomplished?

Nada.
 Quoting: Mr. Toppit


Indeed , It's bailout after bailout,every month there seems to be an emergency meeting with eu finance minister for someone or something needing another bailout.Why don't they just fix it properly for once
Anonymous Coward
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United Kingdom
06/13/2012 07:50 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Italy is going to need one.

The fact the IMF just gave SPAIN 100 Billion, means Italy has to pay something like 20% of that by borrowing at 7%, even though Spain has to pay it back at something like 5%.

What this means is that Italy is paying a huge chunk of the bailout for Spain at a higher cost than what Spain is paying for the loan...

The long term effects being that Italy will probably need a bailout to help them pay for the loan debts they have had to take on to bail out Spain... ergo Spain will then probably have to give money back to Italy to help bail it out because of the problems caused by Italy giving billions to Spain to bail Spain out.
Anonymous Coward
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06/13/2012 07:51 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
I wonder what's gonna happen after the election this weekend.
 Quoting: Osmosys


Greece leaves the EURO, stocks drop.

After that, i have no idea.
Luisport (OP)

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06/13/2012 07:52 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Thank's!hf
Osmosys

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06/13/2012 07:53 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
I wonder what's gonna happen after the election this weekend.
 Quoting: Osmosys


Greece leaves the EURO, stocks drop.

After that, i have no idea.
 Quoting: Anonymous Coward 17822638


Do you think so or do you hope so
Luisport (OP)

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06/13/2012 07:53 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Italy is going to need one.

The fact the IMF just gave SPAIN 100 Billion, means Italy has to pay something like 20% of that by borrowing at 7%, even though Spain has to pay it back at something like 5%.

What this means is that Italy is paying a huge chunk of the bailout for Spain at a higher cost than what Spain is paying for the loan...

The long term effects being that Italy will probably need a bailout to help them pay for the loan debts they have had to take on to bail out Spain... ergo Spain will then probably have to give money back to Italy to help bail it out because of the problems caused by Italy giving billions to Spain to bail Spain out.
 Quoting: Anonymous Coward 17822638


Yes This is shure! Italy will fall soon!
Anonymous Coward
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06/13/2012 07:54 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Yes This is shure! Italy will fall soon!
 Quoting: Luisport


How is Portugal doing?
Limpan

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06/13/2012 07:56 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Owen Callan&#8207;@OwenCallan

GREECE: UNCONFIRMED reports that after losing to Czech Rep yesterday, Greece have now applied to borrow 3 points from UEFA lolsign
 Quoting: Luisport


We new this was coming. After election day it's over

hiding
Anonymous Coward
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06/13/2012 07:57 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Do you think so or do you hope so
 Quoting: Osmosys


I dont hope for a crash no, its bad for everybody..but I do think a huge crash is coming, and probably violence in europe.

Im scared to be honest. I hope i am wrong.
Scuba7

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06/13/2012 07:57 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
zerohedge&#8207;@zerohedge

Zeit: Greece may need third bailout soon
[link to twitter.com]
 Quoting: Luisport


Who will they "bailout" tho?

The people who need it, or the banks?
Do not take memories of what happened yesterday, into what might happen today.

When love is your greatest weakness, you will be the strongest person in the world.
Luisport (OP)

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06/13/2012 07:57 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Yes This is shure! Italy will fall soon!
 Quoting: Luisport


How is Portugal doing?
 Quoting: Anonymous Coward 17822638


Bad very bad!
Anonymous Coward
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06/13/2012 08:02 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Bad very bad!
 Quoting: Luisport


High unemployment? bad credit?, housing market slump?, everything expensive? Its the same everywhere in Europe right now.

I guess, Some places like Greece have it really bad and some places like Germany and the UK have it OK, but tough for the moment.
Luisport (OP)

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06/13/2012 08:05 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Bad very bad!
 Quoting: Luisport


High unemployment? bad credit?, housing market slump?, everything expensive? Its the same everywhere in Europe right now.

I guess, Some places like Greece have it really bad and some places like Germany and the UK have it OK, but tough for the moment.
 Quoting: Anonymous Coward 17822638


There are positive things like the exportations double, but the worst thing is unemployment at 16%, and taxes, price of energy, gas, whater etc rise a lot!
Luisport (OP)

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06/13/2012 08:06 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Owen Callan&#8207;@OwenCallan

GREECE: UNCONFIRMED reports that after losing to Czech Rep yesterday, Greece have now applied to borrow 3 points from UEFA lolsign
 Quoting: Luisport


We new this was coming. After election day it's over

hiding
 Quoting: Limpan


ohyeah
Luisport (OP)

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06/13/2012 08:08 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
zerohedge&#8207;@zerohedge

Forget Three Months: Italy May Have Two Weeks Tops, As "It Already Is Where Spain Is Heading" [link to www.zerohedge.com]
Luisport (OP)

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06/13/2012 08:08 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
zerohedge&#8207;@zerohedge

Forget Three Months: Italy May Have Two Weeks Tops, As "It Already Is Where Spain Is Heading" [link to www.zerohedge.com]
 Quoting: Luisport


Yesterday, Austrian finance minister Maria Fekter ruffled the unelected Italian PM's feather by saying "forget Spain, Italy is next in the bailout line" - a statement which as expected was promptly loudly refuted, mocked, and scorned by everyone possible: the type of reaction that only the truth can possibly generate in Europe. So far so good: after all the typical European reaction to any instance of the truth is loud screams of "lies, lies" and promptly sticking your head deep in the sand. However, this time around Italy may not have the benefit of the doubt, nor the benefit of some sacrificial replacement of a prime minister: Silvio is long gone, and at this point switching one banker figurehead with another will do precisely nothing. Which is why this morning's assessment from Bloomberg economist David Powell is spot on: "Italy would probably be forced into receiving a bailout if it were to face another two weeks like the last seven days." But the punchline: "The bad news for Italy is the country’s stock of debt is already as large as Spain’s may become after years of fiscal turmoil. In other words, Italy already is where Spain may be heading."

Surely Powell must be joking: has he not heard that Spain is not Uganda, and that there is "no risk" Spanish contagion will shift to Italy? Apparently not: which is actually what happens when one does the math and relies on facts instead of bluster, rhetoric and propaganda.

Last Edited by Luisport on 06/13/2012 08:10 AM
insertfunnyusername

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Greece
06/13/2012 08:11 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
How much money do the banks really need ffs? They 've already taken the whole public debt of Greece in bailouts funds from EU and now need more? And the Greek state has already gave them another 150 BN euros from 2008 till today. Why the fuck would they need more? I wouldn't have a problem seeing a bank fail tbh. They can't be saved all. Lots of them made very bad decisions why are they keep giving them peoples money? German banks have already covered their arses and i think this would be for the French banks who still have a great amount of exposure here in Greece. Hope it's not true though. Greek state can't even repay the last 2 bailouts not a third one.
insertfunnyusername

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Greece
06/13/2012 08:12 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
I'm afraid it's no longer about a 'bailout'.

It's about saving the Greek people.

No jobs, no money to pay the rent, no food.. no nothing.

Unbelievable that we allow that to happen. They're our neighbors?!?
 Quoting: Ravan


hf
Lime Flavoured Redux

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06/13/2012 08:12 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Owen Callan&#8207;@OwenCallan

GREECE: UNCONFIRMED reports that after losing to Czech Rep yesterday, Greece have now applied to borrow 3 points from UEFA lolsign
 Quoting: Luisport


lol. The best joke related to that was the British commentator, after the Czech Republic scored their second goal and the camera showed their fans bopping up and down, said something like "It seems like we have another situation involving the Greeks and bouncing Czechs" lol
Luisport (OP)

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06/13/2012 08:15 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
How much money do the banks really need ffs? They 've already taken the whole public debt of Greece in bailouts funds from EU and now need more? And the Greek state has already gave them another 150 BN euros from 2008 till today. Why the fuck would they need more? I wouldn't have a problem seeing a bank fail tbh. They can't be saved all. Lots of them made very bad decisions why are they keep giving them peoples money? German banks have already covered their arses and i think this would be for the French banks who still have a great amount of exposure here in Greece. Hope it's not true though. Greek state can't even repay the last 2 bailouts not a third one.
 Quoting: insertfunnyusername


Sorry to say this, but there are only one way to resolve things in Greece: Hang Greek Banksters in Sintagma Square!!! redface

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