It's simple. Right now, the EU cannot kick Greece out of the euro zone because the French and German banks will lose billions. Around March the Greek parliament will sign part 2 of the IMF deal which will also give guarantees to the new and past loans. Greece will be unable to erase any debt from this point. Even if Greece goes back to the Drachma, Greeks will have to pay back their debt on drachmas and if they fail to do so, national property will be transferred to the debtors. That is the plan and it will take shape after March 2012. So Greece will default after the parliament signs IMF part 2.
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(9 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(9 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(9 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (9 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (9 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (9 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(9 months ago)
Gold, Bitcoin, USD Combo
I mentioned last week on here on how and why both gold and USD are falling together. Since then, the trend accelerated alongside another detail.
View Hot-Chart..
It's simple. Right now, the EU cannot kick Greece out of the euro zone because the French and German banks will lose billions. Around March the Greek parliament will sign part 2 of the IMF deal which will also give guarantees to the new and past loans. Greece will be unable to erase any debt from this point. Even if Greece goes back to the Drachma, Greeks will have to pay back their debt on drachmas and if they fail to do so, national property will be transferred to the debtors. That is the plan and it will take shape after March 2012. So Greece will default after the parliament signs IMF part 2.
Nothing will change. Eurozone will not fall apart. Why is that option not on the poll?