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Greece and the JSE

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Super Contributor
Whatdaya guys think - do we make a beeline for cash today?
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18 REPLIES 18
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Super Contributor
Sitting on my hands.
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Regular Contributor
Tooooo late......hold on! The good news {A} Is that the capital controls will keep a lid on short term issues {B} This pain will make them take the austerity package in a referendum {C} We can all go back to ignoring this distraction
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Super Contributor
Cash out was in May...will be time to buy soon for the long term investments...
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Super Contributor
So , default, and everyone seem happy.....
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Super Contributor
Well the truth is no- one is "happy" as you put it and if you are a Greek then you are less than happy- but the risk of contagion is lower - and since their last crisis (2008 but - which happened on a daily basis since independence from the Turks -) exposure to their debt is mostly being borne by other EU taxpayers. Will the Russians or Chinese come to the rescue - possibly but the sooner they get rid of those clowns running the country the better - either way its a disaster for the average person there.
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Super Contributor
Opinion turns out that Greece's high debt ratio impacts on SA in the sense that money lenders (loan sharks?) will become uptight in their approach to fund economies (SA and the like) which are reliant on loans to fund their budget shortfall. Seemingly also, the Chinese are in no position to come to anyone's rescue. On the side - I wait for the bubble burst in the "ten cent" hype.
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delta
Occasional Contributor
Greece makes up less than 2% of the European GDP and the only reason this is making the news is the political ramifications. If Greece leaves the Eurozone then it means other countries that are struggling like Spain, Portugal etc might find it easy to leave the EU. My advice would be to sit tight and wait for things to settle and then start buying for long-term.
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Super Contributor
default and now "NO" to bailout...
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Super Contributor
Risk in yield movements poses a risk to banks - not to mention direct Greek exposure - which is now viewed as "contained." Now where have I heard that before?
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Super Contributor
Yes and every one thinks that one of the rest of the PIGS might be next....Surprise, surprise Hollande is very worried that France might be badly effected, as their currency is not as strong as Germany and really needs some devaluation now !
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Super Contributor
i.e.if they were allowed to have a separate currency,which they are not. I read his statement on Greece on full and has broken slightly with Germany feeling that they shuld encourage Greece to stay as that would avoid contagion!
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Super Contributor
Catch22 or not? On the one hand they would want Greece to pay up/restructure their comfort zone which has now been rejected by the Greeks; on the other hand, to impose stricter measures or make serious demands ("you owe us our money!") would drive Greece to raise a middle finger. Wonder if the Greeks understand that they might be left isolated...or not...
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Super Contributor
I a weird way I actually think Tsipras has them all by the "balls" except for Mrs Merckel of course. Europe being "hardegat" but at the end of the day they don't want a leftist government running to Senor Putin either. The US Naval bases are awfully close to the Ukraine. I still think sanity will prevail and re-financing of the debt until we have same shenanigans again 5 years from now. Politics, politics who can stand noise.....
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Super Contributor
Tsipras has brought a knife to a gunfight. They have no leverage except the wider desire on the part of Germany - the paymaster - and the French to keep their experiment alive. This will lead to closer unity and that means loss of sovereignty - which is a myth anyway. The real issue and the lesson for our government and everyone for that matter is that if you are economical with the truth as regards you national accounts and you fund unsustainable social payments on borrowings - you will go under. The present risk of contagion to other Southern Europeans is very much less than last time round. At least Zimbabwe has a friend they can talk to now!
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Super Contributor
So the ECB is in a corner , they have to relax the bailout conditions to keep GREECE in the Zone,yep, the Greeks are still masters.
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Super Contributor
It seems the Greeks know that Merckel does not have balls....they have just applied for the third bailout
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Super Contributor
if you believe the Greeks are still masters then that is one view but not one I fear that the Greeks will ultimately share with you.
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Super Contributor
Perhaps Greece is geographically more important to the western world than economically. And Perhaps Tsipras, Europe and the US know this. But they all must be seen as if they control the shots (the ego part) especially Tsipras regime being in power for only 6 months. He must be seen (by the greek constituency at least) as a man of his word. Sure he calls the bluff of the gunfighter with a knife....but he still does it.....why?.......He must feel he has some sort of bargaining power. I believe Greece's geographical location to the "hotspot" of the world as far as the US is concerned will ultimately lead to a deal, even if it is a never can work deal. A deal is a deal...we will worry about the consequences of such in five years time.
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