Bitcoin Community Gets Prepared for Italy’s Eurozone Exit
Bitcoin experts have long understood that political uncertainty is great for the growth of the cryptocurrency, at least in the near future. This is why the Italian referendum and the victory of “no,” has created speculation that the resignation of Italian Prime Minister Matteo Renzi would increase the price of Bitcoin to $800. Italexit. Bitcoin may grow in the near future, as several investors believe that the vote of “no” is a signal of instability within the Italian financial sector, which could lead to a decision for Italy to leave the Eurozone (Italexit). This “bad” news for Europe may....
Related News
European shares and periphery Eurozone bonds tumbled on Monday after the Greek parliament rejected the government's presidential candidate, setting the stage for an election that anti-austerity party Syriza could win, Reuters reports. The markets reflected uncertainty about Greece's future in the Eurozone under a possible Syriza government. Greece's Prime Minister Antonis Samaras failed to get enough support for his nominee, Stavros Dimas, and will now call a national election for Jan. 25. The ruling coalition led by New Democracy is lagging in the polls behind Syriza, whose rise reflects....
Early this morning European time, Greek financial ministers and Eurozone representatives reached an agreement after an all-night negotiation session. The deal will last three years and amount to $94 billion. "The institutions and the Greek authorities achieved an agreement in principle on a technical basis. Now as a next step, a political assessment will be made," said Annika Breidhardt, a European Commission representative. Also read: How Bitcoin Could Prevent a Future Greece. The biggest issues discussed revolved around Greek institutions not properly servicing their receivables, the....
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....
Greek voters have issued a surprisingly loud and clear statement of support to Greek Prime Minister Alexis Tsipras, and defiance to European authorities and the International Monetary Fund. In the referendum celebrated Sunday, an overwhelming majority of more than 61 percent of Greeks, with an impressive 22 percent lead over the 39 percent of Greeks who voted yes, have said no to the bailout deal proposed by the country's creditors. Opinion polls before the referendum showed the difference between the Yes and No camps as too close to call, and therefore the strong majority won by Tsipras....
Greece has been experiencing rough times since 2008. The economy has shrunk by about one quarter. Unemployment stands at about 25 percent, hundreds of thousands of businesses have closed and many of the nation's people are living in poverty. In the midst of all this, it appears that the country is having difficulty electing a new presidential leader. Eurozone bonds and European shares experienced a heavy slump today following the Greek Parliament's rejection of the government's presidential candidate, thus paving the way for a possible Syriza party win. This could mean a number of things;....