Greek Financial Crisis

[orchard]

if he called there bluff that would get interesting, well if he had the balls to go for it that is.

-or intelligence, or political skill to generate support in Europe.

 

[edge]

-or intelligence, or political skill to generate support in Europe.

if they have been to Eton , he might have a chance, cant imagine him charming many

 

[orchard]

if they have been to Eton , he might have a chance, cant imagine him charming many

He's like a fish out of water when he hasn't got the institutions here to hold his hand, he's pathetic. Eton ought to be ashamed at some of the chod they've churned out of late.

 

[edge]

He's like a fish out of water when he hasn't got the institutions here to hold his hand, he's pathetic. Eton ought to be ashamed at some of the chod they've churned out of late.

nest of vipers Eton , should ban any of them from government the self serving fookers,
they then have the cheek to say the unions look after there own interests, yes unlike them who dish out all the top jobs to any fool who can afford to wear the tie.

 

[wm02]

On topic please lads, we're going off on a tangent

I secant this opinion

 

[bizzaro]

nest of vipers Eton , should ban any of them from government the self serving fookers,
they then have the cheek to say the unions look after there own interests, yes unlike them who dish out all the top jobs to any fool who can afford to wear the tie.

Where to start with this.

 

[marnie]

Someone said in this thread earlier............. Greece..... has a great Poker face............... I now think ... it becomes a game of chess !

 

[orchard]

To be fair to Eton, i've known some that are extremely self-less Edge. They've had the luxury of 'old money' admittedly, but devoted their lives to furthering academia or tending to the poor rather than chasing more wealth.
You're right though, something needs doing about the calibre of politicians and possible corrupted nature, I just don't think Eton's the cause.

nest of vipers Eton , should ban any of them from government the self serving fookers,
they then have the cheek to say the unions look after there own interests, yes unlike them who dish out all the top jobs to any fool who can afford to wear the tie.

 

[SNova]

At the EU parliament today.

 

[The Esk]

Interesting article. The amount of leverage across China generally is far beyond what the West considers, not just in the stock market. Official lending figures and quotas for the banks just scratch the surface. There's a huge "grey" market of lending by non banking institutions and then an even bigger market of I guess you would call it peer-to-peer lending at a local level.

Booming economies and growing asset prices have sustained this huge leverage, the problem is that when the economy slows and or asset prices fall then it unwinds very quickly.

Probably needs its own thread but the further falls in China stock markets demonstrates further the amount of leverage in the Chinese economy. Over half of the stocks asked for suspension of trading as they hit their daily loss limit of 10%.

One of the primary reasons for doing so is that many Chinese company's use their own stock as collateral against loans. As the prices tumble many companies will find themselves breaching loan covenants. That being the case there is going to be a huge corporate liquidity crisis in China and without major Government support (which will happen) the banking system is going to come under huge pressure.

One of the potential impacts other than stock market falls around the world will be a rising of borrowing costs globally (particularly US Treasuries) as the Chinese repatriate money to meet near term liquidity requirements.

 

[Brendan Janus]

I blame Georgios Samaras, if it wasn't for him

 

[edge]

To be fair to Eton, i've known some that are extremely self-less Edge. They've had the luxury of 'old money' admittedly, but devoted their lives to furthering academia or tending to the poor rather than chasing more wealth.
You're right though, something needs doing about the calibre of politicians and possible corrupted nature, I just don't think Eton's the cause.

Good and bad everywhere I suppose

Probably needs its own thread but the further falls in China stock markets demonstrates further the amount of leverage in the Chinese economy. Over half of the stocks asked for suspension of trading as they hit their daily loss limit of 10%.

One of the primary reasons for doing so is that many Chinese company's use their own stock as collateral against loans. As the prices tumble many companies will find themselves breaching loan covenants. That being the case there is going to be a huge corporate liquidity crisis in China and without major Government support (which will happen) the banking system is going to come under huge pressure.

One of the potential impacts other than stock market falls around the world will be a rising of borrowing costs globally (particularly US Treasuries) as the Chinese repatriate money to meet near term liquidity requirements.

Shockingly like the climate for the original
wall steet crash when you add in to the mix loads of inexperienced investers piling into the market at the same time as is happening over there at the moment as well.

 

[davek]

Another reason to hate the Guardian:

Our correspondent Helena Smith reports

Is the Greek media being one-sided or are bodies attached to prime minister Alexis Tsipras’ leftist-led administration deliberately trying to silence the press? In a country feeling the social spasms that come with economic free-fall, that is the question now being asked as prominent TV anchors faced investigation for allegedly favouring the ‘yes’ campaign in Sunday’s referendum.

Private channels (many owned by the oligarchal elite and other business interests) have been accused by the state-run media watchdog and the Union of Journalists and Athens daily newspapers (ESIEA) of purposefully cultivating a climate of fear and breaching electoral law in the run up to Sunday’s vote.

Nine anchors, household names in a nation now addicted to TV news broadcasts, have been told to appear before the disciplinary committee of ESIEA to answer allegations that the government-backed ‘no’ campaign was deliberately frozen out of programming. ESIEA’s governing board is now dominated by Syriza sympathisers; so too is the judiciary which has also launched an inquiry into the claims.

“In 2009 we missed the big story,” said Paschos Mendrevlis, who has been widely vilified for his commentary in the conservative daily, Kathimerini.

“We failed to see that the crisis was coming. Now journalists are asking the right questions, sometimes there is exaggeration but they are basically saying ‘look something is wrong, very wrong’ and for that they are being punished, deliberately hounded and silenced.”

The claims have lead to howls of protests that along with the economy democracy is now also at stake. Highlighting those concerns Kathimerini felt fit to write in its editorial today.

“The regime mentality that has evolved in certain centers of power is cause for grave concern and it is just a matter of time before it becomes a real threat to democracy and everything it holds truth.”

For its part, Syriza – many of whose members hail from the pro-Soviet KKE communist party – says it is being deliberated by the apparatus of a rotten political elite determined to oust the leftists from power.

Falling in behind the Greek media who acted in a criminal fashion to show one side of the referendum debate and howling on behalf of them that they're now being asked stiff questions about their disgraceful bias.

I think I hate the Guardian more than I hate the Sun.

 

[Toffeelover]

I think Cameron will get what he wants. I think he is purposely asking for things that are easy to change so that he can come back and hail it as a big win. He wants us to stay in.

Yep. It will be a big hoop to see him trying to sell it to everyone. Look at me!! what I have achieved, Oh yeah.

 

[Toffeelover]

Probably needs its own thread but the further falls in China stock markets demonstrates further the amount of leverage in the Chinese economy. Over half of the stocks asked for suspension of trading as they hit their daily loss limit of 10%.

One of the primary reasons for doing so is that many Chinese company's use their own stock as collateral against loans. As the prices tumble many companies will find themselves breaching loan covenants. That being the case there is going to be a huge corporate liquidity crisis in China and without major Government support (which will happen) the banking system is going to come under huge pressure.

One of the potential impacts other than stock market falls around the world will be a rising of borrowing costs globally (particularly US Treasuries) as the Chinese repatriate money to meet near term liquidity requirements.

Esk, are you saying we could be in for another 2008 bang.