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Greece Goes Down In Flames Once Again

Started by jimmy olsen, October 16, 2014, 12:55:42 AM

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jimmy olsen

October 16, 2014, 12:55:42 AM
As if we didn't have enough problems already. <_<

http://www.businessinsider.com/greece-down-2014-10

QuoteGreece Is In Full-Blown Stock Market Collapse

    Joe Weisenthal
    openfilerook

    Oct. 15, 2014, 8:44 AM

As if the world didn't have enough to be worried about (ISIS, Ebola, slowing China, Ukraine, slowing Germany, Fed tightening, etc.) now look what's back: Greece. And in a big way.

The stock market is down over 9% on Wednesday, which is about as big as crashes come.

And the banks are getting absolutely smashed.

Quote
Charles Forelle        ✔ @charlesforelle
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Greek banks yikes today. NBG -13%, Piraeus -14%, Alpha -14%, Eurobank -20%.
9:45 PM - 15 Oct 2014

Greece, which had been calm for a while, is now being wracked by two separate but related things.

One is the rise in the political popularity of left-winger Alexis Tsipras, the leader of the Syriza party, who if he ever got elected to power would take a much more confrontational stance with the rest of the eurozone with regards to austerity.

Meanwhile, a rift is growing between the current Greek government and the rest of the EU as Greece is keen to exit its bailout program. The EU is not so sure.

So now the Greek market is getting crushed.

Here's the chart showing the nosedive. And this is before Wednesday's move.

http://static4.businessinsider.com/image/543e493c6bb3f79857f8c049-797-552/screen%20shot%202014-10-15%20at%206.10.37%20am.jpg



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Syt

#1
October 16, 2014, 12:57:36 AM
No blood for gyros!
I am, somehow, less interested in the weight and convolutions of Einstein's brain than in the near certainty that people of equal talent have lived and died in cotton fields and sweatshops.
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Proud owner of 42 Zoupa Points.

Valmy

#2
October 16, 2014, 01:01:13 AM
So the economy is collapsing because a left wing dude is popular? 
Quote"This is a Russian warship. I propose you lay down arms and surrender to avoid bloodshed & unnecessary victims. Otherwise, you'll be bombed."

Zmiinyi defenders: "Russian warship, go fuck yourself."

Eddie Teach

#3
October 16, 2014, 01:15:20 AM
Quote from: jimmy olsen on October 16, 2014, 12:55:42 AM
As if the world didn't have enough to be worried about (ISIS, Ebola, slowing China, Ukraine, slowing Germany, Fed tightening, etc.)

Germany must be stopped!
To sleep, perchance to dream. But in that sleep of death, what dreams may come?

MadImmortalMan

#4
October 16, 2014, 01:20:33 AM
Quote from: Syt on October 16, 2014, 12:57:36 AM
No blood for gyros!

I really like gyros.  :Embarrass:
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers

chipwich

#5
October 16, 2014, 01:28:11 AM
Who the fuck kept giving them money?

Sheilbh

#6
October 16, 2014, 05:49:35 AM
Quote from: Valmy on October 16, 2014, 01:01:13 AM
So the economy is collapsing because a left wing dude is popular?
It's more of a cycle. The economy's collapsed, so a radical lefty is popular, so the economy collapses further.
Let's bomb Russia!
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