Poul Thomsen from International Monetary Fund, Jorg Asmussen from the European Central Bank, Marco Buti and Thomas Wieser: all four were working “clandestinely” for months preparing for a collapse of Greece’s banks. Their secret blueprint, known as “Plan Z”, was a detailed script of how to reconstruct Greece’s economic and …
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Ex ECB official: “Merkel toyed with the idea of Grexit but she was convinced otherwise” by the Chinese?
“German Chancellor Angela Merkel toyed with the idea of forcing Greece out of the euro until the autumn of 2012.” These claims are raised by Lorenzo Bini Smaghi, until recently one of the six-man executive council at the European Central Bank and for many years Italy’s man in Frankfurt” In …
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Germans offering solutions for Greece’s economy re-start
I too often fall to the Greek trap of “being introvert”. I focus on the strict Greek reality of protests, mocking and grimy mood, and forget to take a look around. For example, how our esteemed German allies and friends look at Greece of success story, while it struggles – …
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Greek PM praises gov’t achievement: Grexit …”a sad memory”
Prime minister Antonis Samaras is excited. Excited about the achievements of his coalition government and thus less than a year at the leadership of the country. Conservative Samaras, all Nea Dimocratia lawmakers and finance minister Yiannis Stournaras are determined to make us believe that (theoretically) the crisis is over. The …
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New Greek political party: “Drachma 5 stars”
Some Greek seems to have become jealous of Beppe Grillo’s success story and his “5 Star Movement”. Theodoros Katsanevas, former son-in-law of PASOK founder Andreas Papandreou, revealed the establishment of a new political party: “Drachma 5 Stars”. A party with main aim the return to national currency, the Drachma. “Drachma, …
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German Bundesbank still sees risk of Greek euro exit
Germany’s central bank Deutsche Bundesbank sharply criticized the European Central Bank for the ways it handles the eurozone rescue and still sees risks for Greece to exit the euro area. In a 29-page report the Bundesbank analyses the risks of the euro rescue policies. The report was prepared by DB …
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Dutch PM on Greece: “It should be possible for a country to leave the euro zone”
OK, let’s start the Greek euro exit discussion again. We have nothing else to do and no serious issue to deal with. So let’s start the panic triggering discussion again, especially now that The Netherlands has assigned its own finance ministry as head of the Euro group… “Dutch Prime Minister Mark …
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Hedge Fund earns $500m after betting against Grexit
(Financial Times) — One of the world’s most prominent hedge funds is sitting on a $500m profit after making a bet that Greece would not be forced to leave the eurozone, bucking the trend in a difficult year for the industry. Third Point, headed by the billionaire US investor Dan …
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Ex French FinMin Baroin Examined Impact of Greek Euro Exit in 2011
Francois Baroin, the former French finance minister, examined the possibility of a Greek exit from the euro zone with his advisors, according to advance extracts published Tuesday on the website of French magazine L’ Express from his forthcoming book on his experiences during the debt crisis. “It was a discussion …
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German FinMin Rules Out Greece’s Bankruptcy or Euro Zone Exit
German Finance Minister Wolfgang Schaeuble has for the first time ruled out the possibility of debt-stricken Greece sliding into bankruptcy or leaving the euro zone. “I think there will be no state bankruptcy in Greece,” he told a meeting of the Singapore-German Chamber of Commerce and Industry in Singapore on …
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NYT: Trucks Full of Cash at Greek Borders, Should The Country Exit the Euro
I try to paint in my mind the picture… How a fictive scenario would look like in reality: two, three, four… trucks full of thousands fresh-printed banknotes in US-Dollars parked near a border post to Greece – in Albania, FYROM, Bulgaria or Turkey. Bored and unsaved truck drivers, resting their feet on the wheel, chewing …
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Greek PM Samaras: All We Want is Breathing Space – Euro Exit A Nightmare
Just hours before the crusial meetings with Euro Group head Jean-Claude Juncker, German Chancellor Angela Merkel and French President Francois Hollande, Prime Minister Antonis Samaras sent his message to the world of Greece’s lenders: We need a little breathing space to revive Greece’s economy, the drachma would be a catastrophe, Samaras told …
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Economist: “Tempted Angela?” – Merkel Contemplates On How to Break Up the Euro
Is German Chancellor Angela Merkel trying to save the euro? Despite German claiming so, The Economist believes rather the opposite. That Merkel is trying to break up the euro. Angela Merkel is been featured contemplating on the euro future – next to her a bottle of whiskey and a cup of …
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Roubini: Greece to Exit Eurozone, Government to Collapse 2013
Nouriel Roubini, the famous economic guru with the grim, Kassandra-style forecasts made a prediction: In 2013, Greece will exit the Euro and Samaras’ government will collapse. Multi-conference talker and frequent-flyer Roubini did not bother to write his arguments on the issue, he just twitted the summary of his well-worked out thoughts. Roubini : …
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Roubini: Greek Euro Exit Would Destroy the Euro
Economist Nouriel Roubini, the man who had been pushing Greece to exit the euro area for two consequent years, made a U-turn. “Stop supporting Greece would cause the euro zone to collapse” Roubini said in an interview to German daily BILD. He warned that a Greek exit would also trigger …
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EU-Sauce Source: Euro Zone To Impose ATM Withdrawals Limitations, Should Greece Exit Euro
One week before the June 17 elections, a new allegedly horror-scenario lands on the heads of troubled Greek voters. In an exclusive story, an EU-source told Reuters that EU finance officials have discussed the limitation of free capital and persons across the EU and Schengen (for Greeks), should Greece abandon the euro zone. …
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Barroso-Papademos Hand-in-Hand Against Tsipras?
Why did Jose Manuel Barroso threaten Greece with euro exit right after May 6 elections? Reuters claims that the president of the European Commission made this statement after caretaker prime minister Lucas Papademos asked him to do so – in an effort to build a dam against Alexis Tsipras. According …
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IIF Dallara: Greek Euro Exit Would Destabilize World Economy, ECB
Greece’s euro exit would destabilise world economy, the European Central Bank and the contagion will affect other countries like Italy, Spain and Portugal, too, head of Institute of International Finance (IIF) Charles Dallara said in an interview. He urged a European realistic approach to austerity. The head of the global banking …
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EU Leaders vs Greek Voters: Huge Gap, Dangerous Cliff
Italian Prime Minister Mario Monti supports ND Antonis Samaras, French President Francois Hollande support PASOK Evangelos Venizelos. The two leaders of the Greek parties that definitely support the austerity bailout. At the same time a, while the country heads for fresh elections, Greeks have developed an allergy towards the austerity and the …
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Greek FinMin Denies EZ Agreed On Contingency Plans for Greek Euro Exit
Greek Finance Ministry categorically denied on Wednesday evening the Reuters’ report according to which during a Euro Working Group teleconference on Monday, it was agreed that each euro zone member should prepare a contingency plan for the possibility Greece would exit the euro area. Greek Fin Min press Release “The …
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