0
0

In blow to Greece, ECB restricts banks' access to cash


               
2015 Feb 4, 3:50pm   3,637 views  13 comments

by Heraclitusstudent   follow (8)  

In a decision that rattled financial markets, the ECB said it would no longer allow Greek banks to use government debt, which has a junk rating, as collateral for loans.

The announcement came just hours after new Greek Finance Minister Yanis Varoufakis held his first talks with ECB chief Mario Draghi as part of the country's push to renegotiate Athens' 240-billion-euro ($270 billion) EU-IMF bailout.

http://news.yahoo.com/ecb-stops-banks-using-greek-debt-loan-collateral-213221576.html

Ah, reality...

Comments 1 - 13 of 13        Search these comments

1   Heraclitusstudent   2015 Feb 4, 5:48pm  

Who was asking how many divisions the Germans will send?

2   Blurtman   2015 Feb 4, 6:10pm  

No digital credits for you!

3   MisdemeanorRebel   2015 Feb 4, 6:18pm  

Heraclitusstudent says

Who was asking how many divisions the Germans will send?

Preventing borrowing against junk bonds = sending military divisions?

Who knew?

Also, when is the EU going after Goldman Sachs for helping the Greek Politicians from doctoring and fudging all those docs and numbers? And Deutsche Bank for criminal negligence?

4   Strategist   2015 Feb 4, 6:29pm  

Heraclitusstudent says

Who was asking how many divisions the Germans will send?

The Germans took Austria in 2 days, Poland in 1 week, and France in 1 month.
I think the Greeks will surrender in 2 hours.

5   MisdemeanorRebel   2015 Feb 4, 6:30pm  

Strategist says

I think the Greeks will surrender in 2 hours.

They sure didn't last time.

6   Strategist   2015 Feb 4, 6:36pm  

Heraclitusstudent says

In blow to Greece, ECB restricts banks' access to cash

Ha ha. What a shock. No more freebies.
They will finally realize their extravagant lifestyle cannot be financed by others for ever.

7   MisdemeanorRebel   2015 Feb 4, 6:38pm  

Strategist says

They will finally realize their extravagant lifestyle cannot be financed by others for ever.

Tough words coming from somebody who lives in a country whose annual trade deficit with China alone is bigger than Greece's EU-IMF loan restructuring debt.

And of course, in monetary amounts, the US is the most indebted nation in the history of all Humanity.

With 90+% of that indebtedness since around 1982.

8   Strategist   2015 Feb 4, 7:02pm  

Call it Crazy says

Strategist says

They will finally realize their extravagant lifestyle cannot be financed by others for ever.

Wait, are you talking about OUR politicians again?

Damn libruls. Always using my credit card at the mall.

9   Strategist   2015 Feb 4, 7:06pm  

thunderlips11 says

Strategist says

They will finally realize their extravagant lifestyle cannot be financed by others for ever.

Tough words coming from somebody who lives in a country whose annual trade deficit with China alone is bigger than Greece's EU-IMF loan restructuring debt.

And of course, in monetary amounts, the US is the most indebted nation in the history of all Humanity.

With 90+% of that indebtedness since around 1982.

Yeah, but we can afford it. Japanese debt and lots of other countries owe a lot more compared to their GDP.
Just look at the dollar, the whole world has full confidence in us. It's good to be American. :)

10   Heraclitusstudent   2015 Feb 4, 8:59pm  

thunderlips11 says

Strategist says

They will finally realize their extravagant lifestyle cannot be financed by others for ever.

Tough words coming from somebody who lives in a country whose annual trade deficit with China alone is bigger than Greece's EU-IMF loan restructuring debt.

Especially tough from someone who expects his house to appreciate 6% a year forever.
Talk of lifestyle financed by others!

11   zzyzzx   2015 Feb 5, 9:18am  

Heraclitusstudent says

In a decision that rattled financial markets, the ECB said it would no longer allow Greek banks to use government debt, which has a junk rating, as collateral for loans.

12   zzyzzx   2015 Feb 5, 9:22am  

Heraclitusstudent says

Who was asking how many divisions the Germans will send?

http://en.wikipedia.org/wiki/Battle_of_Greece

The German Twelfth Army—under the command of Field Marshal Wilhelm List—was charged with the execution of Operation Marita. His army was composed of six units:

First Panzer Group, under the command of General Ewald von Kleist.
XL Panzer Corps, under Lieutenant General Georg Stumme.
XVIII Mountain Corps, under Lieutenant General Franz Böhme.
XXX Infantry Corps, under Lieutenant General Otto Hartmann.
L Infantry Corps, under Lieutenant General Georg Lindemann.
16th Panzer Division, deployed behind the Turkish-Bulgarian border to support the Bulgarian forces in case of a Turkish attack.

I'm guestimating 16.

13   zzyzzx   2015 Feb 5, 12:05pm  

Obligatory:

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   users   suggestions   gaiste