Some interesting currency moves today

[Barnsley]

http://www.bbc.com/news/world-europe-33473779

And the point of the referendum was what?

[x9200]

[Wd40]

Well surprise surprise, Germany want Greece to Grexit temporarily.

http://www.moneycontrol.com/news/world- ... 20341.html

[JR8]

The two current questions a) what will Greece do to the EU economy and it's future? b) If china sneezes will the rest of the world catch a cold?
China's history as a major importer of natural resources (iron ore, oil, etc), and it's current economic-wobbles are contributing to some of the larger shockwaves playing out through the global economy right now.

ps. 3) The 'pivot point' on the US interest rate cycle.

[JR8]

http://www.bbc.com/news/world-europe-33473779
And the point of the referendum was what?

Greece wanted to make a point, but i don't think they quite realised the depth as to which the Germans really don't give a $hit what the Greeks think.

[Wd40]

http://www.econotimes.com/Singapores-an ... ober-60059

MAS could do another surprise easing. So the current level of SGD looks too good to last. So guys who have a lot of SGDs in your accounts might want to remit them out to your local currencies.

[Barnsley]

http://www.bbc.com/news/world-europe-33473779
And the point of the referendum was what?

Greece wanted to make a point, but i don't think they quite realised the depth as to which the Germans really don't give a $hit what the Greeks think.

Looks like the Greek Parliament is going to agree anyway ...........

Pointless posturing!

[Strong Eagle]

http://www.bbc.com/news/world-europe-33473779
And the point of the referendum was what?

Greece wanted to make a point, but i don't think they quite realised the depth as to which the Germans really don't give a $hit what the Greeks think.

Looks like the Greek Parliament is going to agree anyway ...........

Pointless posturing!

On the contrary, the Greeks are playing Merkel and gang like a cheap fiddle... they have caved in... except they haven't... watch... they will get one of three things very shortly... a big bunch of cash to keep Greek banks alive, a forgiveness of debt, or an exit from the Euro... maybe even 2 out of the 3.

When Greece first seemed to have caved, I said, "damn"... but they haven't really... next step in the chess game.

[Barnsley]

On the contrary, the Greeks are playing Merkel and gang like a cheap fiddle... they have caved in... except they haven't... watch... they will get one of three things very shortly... a big bunch of cash to keep Greek banks alive, a forgiveness of debt, or an exit from the Euro... maybe even 2 out of the 3.

When Greece first seemed to have caved, I said, "damn"... but they haven't really... next step in the chess game.

They now have the chance to get even worse terms and condition , genius!!!

If they get cash for banks , the repayment details will be penal

No way they will get any debt forgiveness, its easy to say forgive the debt when it isnt your money thats been lent.
Unless there was serious bullshitting , every poll had Greeks wanting to stay in the EU, they just voted no to the deal offered.

I am not fan of the EU, but unless Tsipsaris has a Joker up his sleeve to play , I dont seen where Greece has any bargaining tools, I hope he has some cards left to play , but it looks like realities have finally caught up with him.

Even the EU-Left leaning press in UK is painting a bleak picture for Greece.

[JR8]

From the Daily Telegraph's (UK), daily market round-up e-mail:
-----------------------------------------------------------------------------


'The Telegraph, Citybriefing
...
QUOTE OF THE DAY
"Greece has been devastated and humiliated. Europe has shown itself Pharisaical, incapable of leadership and solidarity".

Romano Prodi, the former Italian prime minister, comments on the debt deal reached between eurozone leaders and Greece.'



---
I had to remind myself what the Pharisees were... it's a biblical reference:

'Pharisaic, or Pharisaical [far-uh-sey-ik]
Word Origin
adjective
1. of or relating to the Pharisees.
2. (lowercase) practicing or advocating strict observance of external forms and ceremonies of religion or conduct without regard to the spirit; self-righteous; hypocritical.
http://www.dictionary.com/

[Barnsley]

From the Daily Telegraph's (UK), daily market round-up e-mail:
-----------------------------------------------------------------------------


'The Telegraph, Citybriefing
...
QUOTE OF THE DAY
"Greece has been devastated and humiliated. Europe has shown itself Pharisaical, incapable of leadership and solidarity".

Romano Prodi, the former Italian prime minister, comments on the debt deal reached between eurozone leaders and Greece.'



---
I had to remind myself what the Pharisees were... it's a biblical reference:

'Pharisaic, or Pharisaical [far-uh-sey-ik]
Word Origin
adjective
1. of or relating to the Pharisees.
2. (lowercase) practicing or advocating strict observance of external forms and ceremonies of religion or conduct without regard to the spirit; self-righteous; hypocritical.
http://www.dictionary.com/

http://www.telegraph.co.uk/finance/econ ... elief.html

You couldn't make it up!!!

[JR8]

You couldn't make it up!!!

Quite. And it's been enacted, bludgeoned in, almost single-handedly by those who declare themselves the most self-righteous, the noblest of all. Perhaps that's the problem, it's never been a union of equals, and the Germans this year have arguably done more damage to the EU and the Euro than you could imagine ... or make up. At the least they have just ripped the soul out of the ideal of and sense of fraternity. The French idea of egalite (equality) is long out the window, if it ever existed in the first place which I don't buy.

What next, more crises, and more making do and patching things back together? I don't see a plan or the leadership to rise above and settle this current storm, just lots of dis-unified and separatist anger. So past experience suggests we'll just stumble on to the next blow-up with the same fools in charge.

I really hope not, as the markets are not liking this at all. If I try and mentally rewind say 15yrs, the current situation seems genuinely quite surreal, so contrary to the dreams when the euro was launched.

Looking back, you wonder if the big-bang introduction was ever viable. My feel is that politics and practicality made it inevitable, for example a country running two currencies (legacy and the Euro) in parallel would have been too cumbersome. A shame as running the two in parallel for say a 3-5 years bedding-in period might have helped reveal stress-points. The candidate countries that weathered that period could have been given the green-flag for full membership. Ah but politics...

[Wd40]

http://www.bloomberg.com/news/articles/ ... rs-pile-in

Canadian currency falls too. Apparently anyone who is exporting to China is falling.

[Barnsley]

http://www.bloomberg.com/news/articles/ ... rs-pile-in

Canadian currency falls too. Apparently anyone who is exporting to China is falling.

The Sing Dollar is on the weaken as well .... Wish the Govt would go back to strengthening, but I guess when your exports are heading down the toilet , time to play a few games.

[JR8]

It seems only days ago I was reading that Germany had ordered that Greece could never leave the Euro, and yet today:-
----

'It might be best if Greece ‘temporarily’ freed itself from the constraints of the single currency area, German finance minister Wolfgang Schaeuble seemed to suggest on Thursday' [continues/elaborates]
http://www.digitallook.com/news/interna ... KkHjz.dpuf
----

Maybe the constant mixed-messages are intentional, part of a clever plan? ... hmmm/lol.

Meanwhile the Greeks have rolled over and succumbed to the German jackboot. Despite which the German parliament are still going to have a further vote (ZZZzzz!!) re: whether to permit the Greeks to publicly prostrate themselves and lick the aforementioned boots, and hence seal the bail-out.