Sovereign debt bubble thread

[Tamas]

[MadImmortalMan]

Hollande's plane was hit by lightening while on the way to Berlin for a meeting with Merkel

He's now returned to Paris and got on a second plane, but still

The Lord is speaking to Europe. 

[alfred russel]

Hollande's plane was hit by lightening while on the way to Berlin for a meeting with Merkel

He's now returned to Paris and got on a second plane, but still

The Lord is speaking to Europe. 

It is a lightening strike to save Greece: this is the work of Zeus.

[Duque de Bragança]

Hollande's plane was hit by lightening while on the way to Berlin for a meeting with Merkel

Coup de foudre between Hollande and Merkel! 

[alfred russel]

So things are falling apart again. Time for another emergency summit to save things. This should be interesting as it is Mr. Hollande's debut but also because there isn't a government in Greece that can agree to a bunch of nonsense that won't happen in order to be rescued.

[Ed Anger]

Read the scary headlines of a bank run in Greece underway. Actually read the story and they don't know what time period it encompasses. THANKS DRUDGE.

[MadImmortalMan]

Read the scary headlines of a bank run in Greece underway. Actually read the story and they don't know what time period it encompasses. THANKS DRUDGE.

Lots of those rumors going around the twitter machine this morning. Pics of lines at ATMs and stuff.

[PJL]

Apparently some 1.5 billion euros have been withdrawn from Greek banks in the last ten days. So if this keeps up, then I guess another 5 billon euros will be withdraw by the next Greek election.

[Ed Anger]

Read the scary headlines of a bank run in Greece underway. Actually read the story and they don't know what time period it encompasses. THANKS DRUDGE.

Lots of those rumors going around the twitter machine this morning. Pics of lines at ATMs and stuff.

I need to git one of those thar titter machines.

[Sheilbh]

So things are falling apart again. Time for another emergency summit to save things. This should be interesting as it is Mr. Hollande's debut but also because there isn't a government in Greece that can agree to a bunch of nonsense that won't happen in order to be rescued.

The EU always has this many summits.  They've just started assuming emergency proportions.  Until the Eurocrisis most summits would involve very little of significance plus a (failed) push to reform CAP/British rebate/structural funds

It is interesting though.  The Eurozone seems to be really struggling with Greece - not because they lack a government but because an elected government that rejects the bailout is about as good an example as you could get of the tension between democracy and the Euro.  It'll be even more striking if, knowing the risks the Greeks, as polls suggest they will, elect an even more strongly anti-austerity Parliament. 

Apparently some 1.5 billion euros have been withdrawn from Greek banks in the last ten days. So if this keeps up, then I guess another 5 billon euros will be withdraw by the next Greek election.

If Greece exits, unless there's some strong plans in place then we'll that but in Spain or Italy

[alfred russel]

If I lived in one of those countries, there is no way I would hold any significant money in a Greek, Spanish, Italian, or Portuguese bank right now. The best thing about dragging this out for so long is people should have had time to prepare if it comes to that.

[Neil]

If I lived in one of those countries, there is no way I would hold any significant money in a Greek, Spanish, Italian, or Portuguese bank right now. The best thing about dragging this out for so long is people should have had time to prepare if it comes to that.

I'm sure the governments would figure out a way to steal the money.  Theft is what the Southern Europeans excel at.

[Habsburg]

If I lived in one of those countries, there is no way I would hold any significant money in a Greek, Spanish, Italian, or Portuguese bank right now. The best thing about dragging this out for so long is people should have had time to prepare if it comes to that.

It doesn't appear, in a large way, they have yet.

[Tamas]

as good an example as you could get of the tension between democracy and the Euro.

Or rather, a good example of the tension between a country's long term interests, and elected politicans' short term interests

[Syt]

Apparently some 1.5 billion euros have been withdrawn from Greek banks in the last ten days. So if this keeps up, then I guess another 5 billon euros will be withdraw by the next Greek election.

Austrian ORF quotes the Greek Central Bank that on Monday alone Greeks withdrew € 700,000,000 from the banks.