Wednesday, December 10, 2014

Is the Choice Down to a Greece Default or Exit From the Euro?

The crash of Greek banksters is on.

On Tuesday, Greece experienced the biggest drop on the Athens stock exchange since the 1980s.

The Athens exchange closed 12.8 per cent lower on Tuesday, the biggest one day fall since December 1987. Greek banks led the market decline, with shares in Attica Bank losing more than 26 per cent and Piraeus Bank 17 per cent.

“Greece in the next 6 weeks may prove to be more important for global markets than Russia/Ukraine was in 2014,” said Charles Robertson, chief economist at Renaissance Capital. “A possible Syriza election victory may force the eurozone to choose between a fiscal union (debt write off for Greece) or the first Euro exit.


  1. Of course the Euro-Banksters will find a way to write off or refinance Greek debt. They simply will not allow Greece (or any other member) to exit the Euro Zone. From their perspective, it creates an intolerable precedent that could lead to the whole flimsy and fraudulent institution unraveling.

  2. Imagine the cost of replacing all those blue flags with 20 stars on them.