23 May 2012

GREECE / GERMANY / EUROZONE : Bundesbank Says "Grexit" Is Manageable; Markets Swoon; Grexit Is Pandora's Box For Banks.

http://www.dailymail.co.uk/news/article-2148772/Prepare-Grexit-Officials-tell-eurozone-countries-make-contingency-plans-Greeces-exit-single-currency.html


     Say this about German bankers...they are adamant about demanding more austerity 'reforms'.
     World markets dived...after Germany's Bundesbank claimed in a blunt monthly report that a Greek exit...aka...Grexit...from the eurozone...would be 'manageable'...and preferential to bowing to pressures...drachmail/blackmail...from Greek politicians.
     Allegedly...eurozone leaders were told to draw up plans for coping with the Grexit.


    ALSO: Economists say that a Greek exit for the eurozone...will bring huge losses for banks...like opening pandora's box....with deposit runs likely in Spain, Portugal, Italy and Ireland.
      EU banks might need as much E800 billion to stem contagion from a Grexit.
      http://www.bloomberg.com/news/2012-05-22/european-banks-unprepared-for-pandora-s-box-of-greek-exit.html