Grexit More Likely After IMF & ECB Push Greece Too Far, Will We Witness a Bank Run?
The IMF has been left standing with its finger in it's mouth after Greek Prime Minister Alexis Tsipras unexpectedly called a Greek referendum on whether to accept further austerity and encouraged the Greek people to vote "No". The prospect slams the possibility of a Grexit firmly on the negotiation table and Monday may see the unexpected turn painted red in market charts. Greek Prime Minister Alexis Tsipras has called a referendum on whether Greece should accept demands by the country's creditors the IMF, ECB and European Commission. The decision comes on the heels of failed talks with the....
Related News
Written by Colin Kwan, COO of Magnr/BTC.sx. Colin has over 10 years experience in investment banking, including senior management roles at UBS and Deutsche Bank. Colin also holds an MBA from the Australian Graduate School of Management. At the time of writing, the Greece debt crisis appears to have been averted, or at the least delayed. A €50 billion bailout package has been offered, if the Greek parliament agrees to implement extensive reforms that have been demanded by the eurozone. Although the risk of a Grexit has been reduced, it has not been eliminated. If the parliament votes to....
The Greek crisis and the prospect of Grexit - the exit of Greece from the Eurozone and perhaps even from the European Union - continue to make headlines. The government of Alexis Tsipras and his euro-skeptic, anti-establishment party Syriza, is trying to negotiate solutions for the struggling economy of Greece that would keep the country in the E. U. and the Eurozone, but the worst-case solution - Grexit - continues to be seen as a perhaps inevitable alternative option. Greece's Finance Minister Yanis Varoufakis wrote a blog post in February proposing a similar IOU-based currency, which he....
Greece is on the verge of leaving the Euro. Whilst Eurozone capital markets are likely to deliver an initially muted response, we will see a long-term re-valuation of the price of peripheral Eurozone bonds and stock markets as investors price in the risk that other countries may, in time, follow Greece. The comments from Tom Elliott, International Investment Strategist at deVere Group, one of the world's largest independent financial advisory organizations, come as the Greek debt crisis is reaching a climax following Thursday's failed crunch talks with the Eurogroup finance ministers. It....
After months in seclusion, the price of bitcoin once again emerged as the breakout tabloid star of this week's news cycle. Spurred by a sudden spike in trading activity on 16th June, the media quickly correlated the surge to Greece's increasingly possible exit from the European Union (nicknamed the 'Grexit'). Though real evidence to suggest bitcoin is becoming a tool for Greek citizens amidst monetary uncertainty is scarce, the coverage nonetheless succeeded at overshadowing other developments in the industry, both positive and negative. A 'Grexit' price pump. To understand Greece's role....
Bitcoin prices are on the move upward. Bitcoin volume trading is on the move upward. Greece is on the move downward to a total collapse. Coincidence? I think not. Why? This has all happened once before, over two years ago and maybe we can all learn from the experience, especially all the day traders and speculators out there. So let’s take a look at where we’ve been as far as bitcoin price and where we may end up going in the near future. Let’s all be bitcoin speculators, in a week where the Greeks have an entire week to speculate on their economic future, with an extended bank holiday in....