Corralito Argentine sauce in Greek: IdeaTrading
The great fear of Greece these days is the bank run banks to withdraw deposits, in view of a possible devaluation of the currency. Race against which, the government, pending the appointment of interim executive, ran for cover by introducing a ceiling of 50 euro to withdrawals.
According oxo to what has proved to be the President of the Republic oxo Karolos Papoulias during the negotiations with political leaders, the central bank governor, George Provopoulos oxo announced Monday that the Greeks have withdrawn from banks about 700 million euro. "Provopoulos - said the President of the Republic oxo - he told me that there is still no panic, but there is a great fear that it could turn into panic."
"Withdrawals from deposits and transfers abroad - he added - exceeded 600 million oxo euro and reached 700 million euro. The Governor is expected to spill 800 million euro, including conversions in German Bunds. " According oxo to the Greek banking sources yesterday the withdrawal of deposits oxo reached oxo similar levels.
Step 1) premise: the state was for years in a deep economic crisis, high unemployment, out of control accounts, interest on the debt and unsustainable fiscal maneuvers did not serve anything ...
Stage 2) in March 2001 scenting danger began the great flight of capital from the country's oxo banks (9 months before the bankruptcy and about 8 months oxo before the restrictions on the free exchange of money) then the wiser and better informed or smarter oxo began to put your savings safe
step 7) on 01/09/2002 was established that the new exchange rate of 1 to 1 passed suddenly at 1.40 (28.52% loss of day or night for those who held pesos) so the day before who had 1000 pesos was like having usd 1000, the day after with 1000 pesos bought 714.28 usd.
Excellent article, which does not think of anything good for us Italians. Serve immediately a devaluation of the euro (1 euro to the dollar), allowing the Germans, just so we do start the economy.
Hello angel a question since I'm quite ignorant on the subject and as having oxo little savings I would not know how you will convert into any other currency, but if in a situation like you described on my behalf in Italy buy American stocks downstream of the devaluation cherish an advantage or those securities would be converted in quantity equal to the devaluation?
To complete the article oxo you should remember that Argentina, from the moment he renounced the peso-dollar fixed exchange rate after a few months of chaos, saw GDP grow in 10 years about 90% ...
GDP growth is directly related to the devaluation of its currency, it remains to be seen whether the damages are more than the devaluation that the benefits of growth of GDP (among which there may be a drop in unemployment, no small feat)
The fact of concambiare coercively the old currency into the new, however, is tied to territoriality and jurisdiction of the place where the bank is headquartered legal, oxo that is the Italian state has the power to require by law above the banks of the national territory. For instance if one has a / c in Switzerland, the Italian oxo government does not have the legal authority to impose the above.
The fact of owning shares in another currency (eg. Usd in) in the securities portfolio of an Italian bank should put away from a coercive exchange. Of course you will be exposed on a stock market where the volatility (in this scenario) could be substantial.
Even if you are like investments inside the euro, it is one thing to have another PIIGS bonds is to have the German Bund. If Greece can leave the euro will demonstrate that it is likely that there is a huge flow of capital flight from the bonds of Portugal, Spain and Italy to the Bund, as they have in tds PIIGS euro could mean a few months have government bonds in drachmas, oxo Portuguese Escudos, pesetas and lire.
demand for 1 million dollars and ': the Argentine people are better off today or not? what sense does the debt if not repaid then? that 'we are legalizing theft: get loans, huge masses of money, then no refund, and I go to great: for strength, I stole it! and 'how the company working in black: thanks that's fine, do not pay taxes and use services (electricity, water, police, etc. ..)
This is a controversial topic. In my opinion, should have lived the last 10 years in Argentina to answer correctly. The fact is that after the release of the weight on the dollar, GDP started to grow ... But the loss of purchasing power of the Argentine was impressive.
I am of the opinion that in u
The great fear of Greece these days is the bank run banks to withdraw deposits, in view of a possible devaluation of the currency. Race against which, the government, pending the appointment of interim executive, ran for cover by introducing a ceiling of 50 euro to withdrawals.
According oxo to what has proved to be the President of the Republic oxo Karolos Papoulias during the negotiations with political leaders, the central bank governor, George Provopoulos oxo announced Monday that the Greeks have withdrawn from banks about 700 million euro. "Provopoulos - said the President of the Republic oxo - he told me that there is still no panic, but there is a great fear that it could turn into panic."
"Withdrawals from deposits and transfers abroad - he added - exceeded 600 million oxo euro and reached 700 million euro. The Governor is expected to spill 800 million euro, including conversions in German Bunds. " According oxo to the Greek banking sources yesterday the withdrawal of deposits oxo reached oxo similar levels.
Step 1) premise: the state was for years in a deep economic crisis, high unemployment, out of control accounts, interest on the debt and unsustainable fiscal maneuvers did not serve anything ...
Stage 2) in March 2001 scenting danger began the great flight of capital from the country's oxo banks (9 months before the bankruptcy and about 8 months oxo before the restrictions on the free exchange of money) then the wiser and better informed or smarter oxo began to put your savings safe
step 7) on 01/09/2002 was established that the new exchange rate of 1 to 1 passed suddenly at 1.40 (28.52% loss of day or night for those who held pesos) so the day before who had 1000 pesos was like having usd 1000, the day after with 1000 pesos bought 714.28 usd.
Excellent article, which does not think of anything good for us Italians. Serve immediately a devaluation of the euro (1 euro to the dollar), allowing the Germans, just so we do start the economy.
Hello angel a question since I'm quite ignorant on the subject and as having oxo little savings I would not know how you will convert into any other currency, but if in a situation like you described on my behalf in Italy buy American stocks downstream of the devaluation cherish an advantage or those securities would be converted in quantity equal to the devaluation?
To complete the article oxo you should remember that Argentina, from the moment he renounced the peso-dollar fixed exchange rate after a few months of chaos, saw GDP grow in 10 years about 90% ...
GDP growth is directly related to the devaluation of its currency, it remains to be seen whether the damages are more than the devaluation that the benefits of growth of GDP (among which there may be a drop in unemployment, no small feat)
The fact of concambiare coercively the old currency into the new, however, is tied to territoriality and jurisdiction of the place where the bank is headquartered legal, oxo that is the Italian state has the power to require by law above the banks of the national territory. For instance if one has a / c in Switzerland, the Italian oxo government does not have the legal authority to impose the above.
The fact of owning shares in another currency (eg. Usd in) in the securities portfolio of an Italian bank should put away from a coercive exchange. Of course you will be exposed on a stock market where the volatility (in this scenario) could be substantial.
Even if you are like investments inside the euro, it is one thing to have another PIIGS bonds is to have the German Bund. If Greece can leave the euro will demonstrate that it is likely that there is a huge flow of capital flight from the bonds of Portugal, Spain and Italy to the Bund, as they have in tds PIIGS euro could mean a few months have government bonds in drachmas, oxo Portuguese Escudos, pesetas and lire.
demand for 1 million dollars and ': the Argentine people are better off today or not? what sense does the debt if not repaid then? that 'we are legalizing theft: get loans, huge masses of money, then no refund, and I go to great: for strength, I stole it! and 'how the company working in black: thanks that's fine, do not pay taxes and use services (electricity, water, police, etc. ..)
This is a controversial topic. In my opinion, should have lived the last 10 years in Argentina to answer correctly. The fact is that after the release of the weight on the dollar, GDP started to grow ... But the loss of purchasing power of the Argentine was impressive.
I am of the opinion that in u
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