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

 
insertfunnyusername

User ID: 17857241
Greece
06/13/2012 09:38 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Regardless, one should pay its taxes and we all know that the Greeks are collectively dodging this and not just the last two years.
 Quoting: DutchCourage


LoL, they dodge taxes when and where they can. Just like we do.
 Quoting: Ravan


True that. Lots of tax evaders in Greece but unfortunately is not the average people who do that mostly. Employees are taxed at source, they can't evade taxation. Politicians and the elite on the other hand are serious tax evaders. Why the 80% of the population should paying for decades the sins of the other 20%? They didn't profit from it and now they have to pay the bill. Don't think that's fair at all tbh. It's all about the banks and the elite.
Ravan

User ID: 1163760
Netherlands
06/13/2012 09:44 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


I mean wtf??? Its a endless pit!!!!!!! The world throws more and more into it and its gone!! Well wtf? When does it stop? I mean really. So we are stuck forever throwing them more money so the people there can live it up?
I am just asking here? Does a certain amount end up baling them out or what?
 Quoting: Joker


Big EU Bank X lends money from the EU against nearly 0%, then sells money to Greek against an impossible 'high risk' rate. Greek govt can't pay back the interest, let alone the loan. Increases taxes on it's own people, and needs the rest of the EU taxpayers to further help them out.

Big EU Bank X gets the interest and loans repayed with an enormous profit.

People of Greece and EU-peeps in general lost.

Bankers increase bonuses for job well done.


There are much better ways to help out the Greek cause this is just a new business model for banks to earn money from people.
>! Fight Terror. Support Israel ! < Zionist by heart, mind and birth!
Anonymous Coward
User ID: 10302139
United States
06/13/2012 09:46 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Greeks Withdraw $1 Billion a Day Ahead of Vote

[link to www.cnbc.com]
insertfunnyusername

User ID: 17857241
Greece
06/13/2012 09:47 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


I mean wtf??? Its a endless pit!!!!!!! The world throws more and more into it and its gone!! Well wtf? When does it stop? I mean really. So we are stuck forever throwing them more money so the people there can live it up?
I am just asking here? Does a certain amount end up baling them out or what?
 Quoting: Joker


Big EU Bank X lends money from the EU against nearly 0%, then sells money to Greek against an impossible 'high risk' rate. Greek govt can't pay back the interest, let alone the loan. Increases taxes on it's own people, and needs the rest of the EU taxpayers to further help them out.

Big EU Bank X gets the interest and loans repayed with an enormous profit.

People of Greece and EU-peeps in general lost.

Bankers increase bonuses for job well done.


There are much better ways to help out the Greek cause this is just a new business model for banks to earn money from people.
 Quoting: Ravan


Couldn't have said that better meself Ravan, well done!
firmament

User ID: 14463438
Germany
06/13/2012 09:48 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


I feel the same way! Greek People are starving, many places no electricity, doctors & hospitals send people away because they ran out of money and supplies, banks are closing....

.....and we talk about banks, money, bonds, fonds.....unbelievable it is!
Luisport (OP)

User ID: 17866486
Portugal
06/13/2012 09:53 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Dow /quotes/zigman/627449 12,507 -67 -0.53%
Nasdaq /quotes/zigman/123127 2,827 -16 -0.55%
S&P 500 /quotes/zigman/3870025 1,316 -8 -0.61%
GlobalDow /quotes/zigman/629063 1,759 -8 -0.43%
Gold /quotes/zigman/676896 1,622 +9 +0.53%
Oil /quotes/zigman/2203147 82.25 -1.07 -1.28%
Luisport (OP)

User ID: 17866486
Portugal
06/13/2012 10:05 AM

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

Italian Bonds Back In The Crosshairs [link to www.zerohedge.com] 10Y Italian bond spreads are surging wider intraday as it appears Europe's bond vigilantes (otherwise known as portfolio managers executing some level of due diligence to cover their fiduciary duty) have rotated their attention to Italy. After a few days in a row of Italian bank stock halts, the implicit LTRO-driven relationship between banks and sovereign is snapping 10Y yields above their Aug 2011 crisis peaks - at almost 5 month highs. A 20bps jump from the intraday lows this morning in spreads, underperforming any other European sovereign, seems to reflect our earlier concerns of Italy's lifeline running short. 5Y CDS are also pushing higher - near record wides but do not forget Spain which is also now legging higher in yield and wider in spread after some relief earlier in the day.
Anonymous Coward
User ID: 1342995
United States
06/13/2012 10:05 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


I feel the same way! Greek People are starving, many places no electricity, doctors & hospitals send people away because they ran out of money and supplies, banks are closing....

.....and we talk about banks, money, bonds, fonds.....unbelievable it is!
 Quoting: firmament


But who is going to pay for the bailout, can not be the Greek people, its just going to pull the rest of Europe down, its not looking good for anyone!
Luisport (OP)

User ID: 17866486
Portugal
06/13/2012 10:07 AM

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

Swiss 5 Year yield goes doubly negative: -0.025%, down 0.016% more on the day
Luisport (OP)

User ID: 17866486
Portugal
06/13/2012 10:11 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
FTSE 100 /quotes/zigman/3173262 5,439 -35 -0.64%
CAC 40 /quotes/zigman/3173214 3,017 -30 -0.99%
DAX /quotes/zigman/2380246 6,096 -65 -1.06%
FTSE MIB /quotes/zigman/1482176 12,845 -134 -1.04%
IBEX 35 IDX /quotes/zigman/2759620 6,610 +88 +1.34%
GlobalDow 1,761 -6 -0.35%

Last Edited by Luisport on 06/13/2012 10:12 AM
Anonymous Coward
User ID: 17868584
United States
06/13/2012 10:12 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
That 100 that spain got so easy is just a smoke-screen,why give more when Greece is still an unknown?

Nothing big will be given until after sunday,why should they?Its like feeding a BLACK-HOLE.

I say just get on with it and kick Greece ta the curb
Luisport (OP)

User ID: 17866486
Portugal
06/13/2012 10:14 AM

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

Rumor JPM has hedged its JPM short by going long the EURUSD
Anonymous Coward
User ID: 17864312
Italy
06/13/2012 10:28 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
zerohedge????cruisecruisecruisecruisecruise
Luisport (OP)

User ID: 17866486
Portugal
06/13/2012 10:33 AM

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

CYPRUS GOVERNMENT IN CLOSE CONTACT WITH EU ON BANKS: SHIARLY

1 min zerohedge&#8207;@zerohedge

CYPRUS PREFERS PRIVATE SOLUTION TO EU BAILOUT FOR BANKS:SHIARLY

1 min zerohedge&#8207;@zerohedge

CYPRUS LIKELY TO HAVE TO SUPPORT ONE OF ITS BANKS, SHIARLY SAYS
Anonymous Coward
User ID: 15631479
United Kingdom
06/13/2012 10:34 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Regardless, one should pay its taxes and we all know that the Greeks are collectively dodging this and not just the last two years.
 Quoting: DutchCourage


LoL, they dodge taxes when and where they can. Just like we do.
 Quoting: Ravan


True that. Lots of tax evaders in Greece but unfortunately is not the average people who do that mostly. Employees are taxed at source, they can't evade taxation. Politicians and the elite on the other hand are serious tax evaders. Why the 80% of the population should paying for decades the sins of the other 20%? They didn't profit from it and now they have to pay the bill. Don't think that's fair at all tbh. It's all about the banks and the elite.
 Quoting: insertfunnyusername


clappa
Anonymous Coward
User ID: 17868584
United States
06/13/2012 10:34 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
zerohedge????cruisecruisecruisecruisecruise
 Quoting: Anonymous Coward 17864312


LOL....
Anonymous Coward
User ID: 17041040
United Kingdom
06/13/2012 10:37 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
That 100 that spain got so easy is just a smoke-screen,why give more when Greece is still an unknown?

Nothing big will be given until after sunday,why should they?Its like feeding a BLACK-HOLE.

I say just get on with it and kick Greece ta the curb
 Quoting: Anonymous Coward 17868584


They haven't given Spain €100 billion YET... it could end up being more. All they've agreed is that they will lend Spain up to €100 billion and Spain won't talk actual numbers until after their 2 independent audits release their info on 21st June.

They're just stalling to see if Greece will be the fall guy and then all the finger pointing will be in that direction if the bailout for Spain ends up being higher.
Anonymous Coward
User ID: 17041040
United Kingdom
06/13/2012 10:43 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


I mean wtf??? Its a endless pit!!!!!!! The world throws more and more into it and its gone!! Well wtf? When does it stop? I mean really. So we are stuck forever throwing them more money so the people there can live it up?
I am just asking here? Does a certain amount end up baling them out or what?
 Quoting: Joker


Big EU Bank X lends money from the EU against nearly 0%, then sells money to Greek against an impossible 'high risk' rate. Greek govt can't pay back the interest, let alone the loan. Increases taxes on it's own people, and needs the rest of the EU taxpayers to further help them out.

Big EU Bank X gets the interest and loans repayed with an enormous profit.

People of Greece and EU-peeps in general lost.

Bankers increase bonuses for job well done.


There are much better ways to help out the Greek cause this is just a new business model for banks to earn money from people.
 Quoting: Ravan


Couldn't have said that better meself Ravan, well done!
 Quoting: insertfunnyusername


Exactly what they did with 3rd world countries. They ended up so far in debt and struggling to pay just the interest while their corrupt politicians were having a great time with their credit line. Remember all those 1980s pop concerts trying to get 3rd world debt written off because they had no way to ever repay it?!

I can't believe how people still can't see what's going on!

Rajoy (Spanish PM) wrote a letter, before the €100 billion bailout, saying he'd be happy for Spain to give up sovereignity. I'm not sure the Spanish people will be as happy about it but then again I wonder just how many actually realise what's going on.
Anonymous Coward
User ID: 17859038
Germany
06/13/2012 10:44 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


bonghit
Luisport (OP)

User ID: 17866486
Portugal
06/13/2012 10:46 AM

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

TSIPRAS SAYS BAILOUT ACCORD HAS BEEN A FAILURE
This Is Not Me

User ID: 5799367
United States
06/13/2012 10:48 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Another ramp job to positive territory on absolutely NO good news.

Headline: "Middle-class loses 40% of its wealth, DOW soars."
Anonymous Coward
User ID: 17870228
United Kingdom
06/13/2012 11:01 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


I have said this many times,in the bailout fund is 1.2 trillion in the pot,spain will need 390 billion plus all others will need more spain will be back to pot and so will all others,bottom line is when bailout fund is no more then thats it folks,21 dec bid day in earths human history told by mem many moons ago.
Anonymous Coward
User ID: 8297857
United States
06/13/2012 11:27 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
Regardless, one should pay its taxes and we all know that the Greeks are collectively dodging this and not just the last two years.
 Quoting: DutchCourage


LoL, they dodge taxes when and where they can. Just like we do.
 Quoting: Ravan


True that. Lots of tax evaders in Greece but unfortunately is not the average people who do that mostly. Employees are taxed at source, they can't evade taxation. Politicians and the elite on the other hand are serious tax evaders. Why the 80% of the population should paying for decades the sins of the other 20%? They didn't profit from it and now they have to pay the bill. Don't think that's fair at all tbh. It's all about the banks and the elite.
 Quoting: insertfunnyusername


Zito Ellas!
Anonymous Coward
User ID: 17870747
06/13/2012 11:27 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


Why should the rest of europe pay for the Greeks way of life?

Yes, they are neighbors, but do you help your lazy neighbor pay his mortgage when he will not go to work?

This is about a country that is bringing this upon themselves. Why should the rest of europe pay?
 Quoting: Sledster


clappa
Blue Zeus

User ID: 17871063
United States
06/13/2012 11:44 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
I Just Got A Ride To My Hotel In Athens, And BOY Was It Depressing

George's situation seemed particularly dire. At age 40 he's been forced to move back in with his parents, after seeing his wages collapse 75 percent during the crisis. His brother is divorced, has two kids, and has been unemployed for a year.

Just hearing about all that is depressing enough, but his assessment of things was terrible.

Athens, he said, is now like a 'ghost city.'

"You don't see anyone smile ... only the crazy people"

"The good days are over," he said, and it sounded like he thought they were over for good.

So how will it all end? Here his vision took a very grim turn.

"If political history is truth ... Around us, we will have a war."

He pointed out that WWI and WWII both involved economic collapse and the Germans.

"This is the third time."

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

Last Edited by Blue Zeus on 06/13/2012 11:45 AM
Anonymous Coward
User ID: 17870747
06/13/2012 11:48 AM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
He pointed out that WWI and WWII both involved economic collapse and the Germans.

"This is the third time."

Read more: [link to www.businessinsider.com]
 Quoting: Blue Zeus


Is that a threat? Are the greeks now declaring war on Germany?

If greeks want to be on themselves they can vote on sunday.
Anonymous Coward
User ID: 1550123
United States
06/13/2012 11:52 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]
 Quoting: Luisport


There are no runs on the banks. This is how the Greeks do things. They take all their money out of the bank each month because they need what little they have to buy necessities. Hardly anyone there keeps their money in the bank these days. It is just deposited there. Yes, it is bad there but the media is taking what Greeks normally do and blow it out of proportion.
Luisport (OP)

User ID: 17866486
Portugal
06/13/2012 11:56 AM

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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
He pointed out that WWI and WWII both involved economic collapse and the Germans.

"This is the third time."

Read more: [link to www.businessinsider.com]
 Quoting: Blue Zeus


Is that a threat? Are the greeks now declaring war on Germany?

If greeks want to be on themselves they can vote on sunday.
 Quoting: Anonymous Coward 17870747


resist
Luisport (OP)

User ID: 17866486
Portugal
06/13/2012 12:00 PM

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

FORMER GERMAN FINMIN STEINBRUECK SAYS DEBT-REDEMPTION FUND NOT MOST IMPORTANT
Blue Zeus

User ID: 17871063
United States
06/13/2012 12:00 PM
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Re: Zeit: Greece may need third bailout soon!!! Greek Banks Are Bleeding Deposits!!!
He pointed out that WWI and WWII both involved economic collapse and the Germans.

"This is the third time."

Read more: [link to www.businessinsider.com]
 Quoting: Blue Zeus


Is that a threat? Are the greeks now declaring war on Germany?

If greeks want to be on themselves they can vote on sunday.
 Quoting: Anonymous Coward 17870747


I have no idea

I'm watching this unfold with the same amazement and sense of depression and helplessness as everyone else

That article is just quoting one man's experience on a recent taxi ride in Athens

It probably is true that people in Athens are depressed...but how this all plays out, who knows

I cant imagine it ends well, however...

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