The sun will still rise in the east tomorrow. This too shall pass.
Robert Wenzel
June 16, 2012
This is over the top.
Hundreds of employees in the United States at big firms, some part of special teams, will be on standby this Sunday, awaiting the results of Greece’s pivotal election. They are preparing for the worst case. The fear is that the vote will heighten the chances of Greece exiting the euro and the global financial system will be shaken when the markets open on Monday, says NYT.
According to NYT, in New York and London, banks have set up dedicated crisis teams, and rehearsed elaborate responses. As clients get nervous, banks have been guiding clients on how to react to a range of situations, from just one country leaving the euro zone to the dissolution of the euro itself.
Are you nervous about the Greek election?
This is pure nonsense. It's NYT and the banksters setting up justification for a U.S. role in "stabilizing" the eurozone.
Good grief - their parading about with Che on their flags?
No wonder they’re in trouble
I think all the hand-wringing over Greece is kabuki theater. The forces to keep the Euro alive are tremendous and as one German politician said, it doesn’t matter how the Greek people vote, they gotta comply.
When the vote says that they stay in, there will be the usual “THAT problem is solved!” cheers from the bankers - as they arrange for yet another taxpayer-backed loan.
The Greek conservatives and socialists can no longer put together a pro-EU government. Greeks have been sold on the notion they don’t have to tighten their belts and stay in the euro.
That is an illusion. Of they can opt for bankruptcy, which will take them outside the EU. But then Greece will not be able to get any international loans and be able to pay its bills.
If Greece wants to commit national suicide, the rest of Europe would shrug its collective shoulders and move on. Greeks shouldn’t pretend they’re that indispensable to Europe if they reject the bailout terms to which they have agreed.