Thank you My Ladies for allowing to share from your private chatroom today.
MY LADIES: SO WHERE TO NOW??? IRAN OR EUROPE???
OK LET ME GET MY SUNGLASSES AND WE'RE OFF TO EUROPE...PRINCESS ARE YOU READY??
OK BANDITO WE GO TO IRAN WHEN I GET BACK FROM EUROPE...
PrincessDD: Can we stop by isle of Capri?
MY LADIES: SURE ...WHY NOT....LOL...
PrincessDD; Record rise in foreign investments in Iran
MY LADIES: PRINCESS IS YOUR GPS BROKEN??? (chuckle) HOW DID YOU GET IN IRAN...LOL...LOL..
MY LADIES: TALKS ARE NOT GOING PAST TUESDAY...EUROZONE JUST SAID NO!!
Eurozone Ministers Deny Greek Request to Extend Debt Talks
MY LADIES: PLAN "B" FULL STEAM AHEAD!
Greek debt crisis: Eurogroup shifting towards 'Plan B'
MY LADIES: LET'S HAVE A LOOK AT PORTUGAL AND SPAIN OK??
SO HERE IS BRIEF OVER VIEW AND TIMELINE FROM PORTUGAL..LET'S HAVE A LOOK SO WE GET CAUGHT UP BECAUSE I THINK THEY ARE NEXT..
Portugal profile - Timeline
PrincessDD: Greece on brink as bailout talks collapse (not finding anything on Spain yet other than inclusion in this article)
Greece's debt is mainly in the hands of other governments, rather than foreign banks or investors. The European Central Bank has launched a program of massive monetary stimulus, and the risk of contagion is reduced because countries such as Spain, Portugal and Ireland are all growing again.
MY LADIES: Eurozone Debt Crisis: Now It's a Hopeless Game of Whac-a-Mole
FOR THOSE OF YOU THAT WANT A BETTER UNDERSTANDING OF THE EUROZONE DEBT CRISIS AND WHY THESE DOMINOS ARE FALLING HAVE A QUICK READ HERE
PrincessDD: Probably wouldnt hurt to see what is going on with some of the other countries in the Eurozone: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain
MY LADIES: THAT'S RIGHT GOOD IDEA PRINCESS BECAUSE NOW THE TALKS ARE DONE AND THE WORST IS COMING
MY LADIES: NOW THE I TOLD YOU SO… FINGER WAGGING FROM CAMERON. BRITIAN WILL STAY IN THE UNION BUT THEY HAVE A LIST OF DEMANDS NOW...
AND SOME OF IT STARTS PRESSURE FROM EVERY CORNER.
The Guardian view on Britain and Europe: the Queen is right
Mr Cameron now has an electoral mandate to hold a referendum on the UK’s membership of the EU, but his “firm aim” in that vote is to keep Britain in, the note reveals.
The leaked note confirms Mr Cameron has boiled his reform demands down to four key headings – sovereignty and political union, competitiveness and the single market, fairness between eurozone and non-eurozone member states, and migration. These are all real issues. But Mr Cameron must continue to be “positive and low key” (his words, according to the note) in the way he negotiates about them. After all, as the Queen herself made clear in some very carefully chosen words in Berlin this week, there are much bigger things at stake in the European Union.
HERE READ THE WHOLE THING
SSS: Mary, at the risk of seeming one-track minded, for Iraq to take their dinar international, do you think they need to wait for all these other countires to restructure first or will they just take their turn ... whenever that is?
MY LADIES: THEY WILL JUST TAKE THEIR TURN, AND HERE'S MORE FROM THE UK
In the end, however, Mr Cameron is dealing with a Conservative party containing many people who are indeed obsessive Eurosceptics. They want to quit the EU under almost every circumstance. The modest demands and positive approach designed to keep the UK in the EU is not what they want at all.
MY LADIES: OK LET'S HAVE A LOOK AT IRAN..
SO I THINK THE DEALS WITH IRAN ARE DONE DONE DONE...EVERY THING ELSE IS POLITICAL POSTURING BUT LET'S SEE
Iran stakes out red lines on sanctions, inspections as nuclear talks get underway in Vienna
MY LADIES: IRAN HAS DRAWN SO MANY RED LINES I'M SUPRISED THE SHARPIE STILL WRITES...LOL..
The U.S. and other world powers are pursuing an agreement that would curb Iran's nuclear program for a decade in exchange for billions of dollars in sanctions relief.
MY LADIES: TEHRAN SAYS OK BUT LIFT THEM IMMEDIATLY AFTER THE SIGNING AND THE US IS SAYING NO
He says U.N. sanctions must end immediately after a deal and all other penalties must be removed. The U.S. and others say that won't happen
MY LADIES: SO TO ME THIS IS ALL JUST NOISE...BECAUSE WE HAVE SEEN DEALS ALREADY IN PLAY AND IRAN NEEDS THEIR CURRENCY FOR THAT.
BaNDiTo_RoX: Euro zone readies for Greek default after Tsipras referendum call
ATHENS/BRUSSELS, June 27 (Reuters) - Greece's European partners shut the door on extending a credit lifeline to Athens, leaving it facing a default that could push it out of the euro after the leftist government rejected tough lender demands and put their bailout deal to a referendum.
MY LADIES: YES FOLKS STICK IN FORK IN THIS ONE...GREECE PRETTY MUCH SAID WE'RE DEFAULTING, THE EUROZONE SAID GOOD LUCK WITH YOUR SWIMMY ARMS YOU'RE GOING TO NEED THEM NOT TO DROWN AND THE EURO ZONE IS NOW GOING TO STRUGGLE TO KEEP THE REST OF THE CATS IN THE PILLOW CASE.
BUT WITH THE UK DOING A REFERENDUM I THINK WE WILL SEE MORE AND MORE CATS GETTING LOOSE.
JMP: does the Eurozone have to have a certain number of countries in it? So if one drops out, another
MY LADIES: NO THEY DO NOT HAVE TO REPLACE, SO HERE ARE THE CURRENT MEMBERS OF THE UNION
Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.has to be put in - or - if one drops out and others follow, then the euro is toast
MY LADIES: THE UK TAKING A REFERENDUM IS HUGE HUGE NEWS …THE EUROZONE IS FALLING APART... AND WILL TAKE THE EURO WITH IT
PrincessDD: Fear and exhaustion in Athens
Empty ATMs and lines at gas stations, but no panic yet as Grexit looms.
CHATTER: <<< possible scenarios if Greece defaults and leaves the Eurozone
Living standards in Greece could fall, banks will face the prospect of collapse, savings may be frozen, businesses could go bankrupt and the cost of imports could multiple.
2. Bank runs
Regular citizens will empty their bank accounts before they converted into a new currency worth less than the previous one. The government may impose a freeze on withdrawal and banks from other countries that have lent to Greece could also collapse.
3. Business bankruptcies
Due to legal tangles over the nature of currency in contracts, Greek businesses may face legal and financial disaster. Companies will still owe big debt but will pay in devalued non-euro currency. Many businesses will become insolvent and face bankruptcy while lenders and biz partners of local companies will be looking at big losses.
4. Sovereign debt crisis
Investors could become nervous about lending to other struggling countries, This might leave Spain and Italy, which account for 28% of the total economy of the Eurozone, short of funds.
5. Market turmoil
A Greek exit from the Eurozone could force lenders and investors to sell off their risky investments. This will cause the stock markets to crash. High-risk borrowers may face higher borrowing costs, Certain safe investments like the dollar, en, Swiss franc, gold could rise and these governments could borrow cheaper.
6. Political Backlash
European governments and banks will face big losses on the loans they gave which will prevent some bigger nations like Germany, providing bailouts to other countries that might need it. ECB's role of providing rescue loans could be exposed.
European banks will be forced to stop lending and business will then cut investment. Ordinary people may cut back their own spending due to bad news in the media. This might push the country in to recession.
8. Greek debt default
The country will not be able to borrow from anyone and the government will eventually run out of euros. It will have to pay social benefits and civil servants' wages in IOUs (if it pays them at all) until a new currency is introduced. All repayments of debts will stop and Greek banks will go bust, since they won't be able to lend to the government.
PrincessDD: Russia today is saying Italy and are next to exit the Eurozone
MY LADIES: RIGHT AND ARE THEY GOING TO ALSO BE MEMBERS OF THE BANK..THAT WILL BE INTERESTING AND IF THEY NEED AID THEY CAN GET IT FROM THE PARTNERS AS I POSTED THIS MORNING ABOUT BRICS NEEDING TO TAKE CARE OF THEMSELVES...
HUMMM SO DEFAULTING ON THE IMF MAY NOT HAVE LINGERING CONSEQUENCES
IQD NOVA: ML THEY WILL HAFE TO!!!! IF THE LEAVE THEY ECB THEY WILL NEED A HOME!!!
MY LADIES: YEP THAT'S WHAT I'M THINKING...AND JUST LOOKING INTO MY CRYSTAL BALL BUT I THINK GREECE IS GOING TO BLAZE THE WAY FOR THE OTHERS
IQD NOVA: I AGREE
MY LADIES: AND TECHNICALLY IF WE LOOK AT ALL THE COMMITTEES WE GOT FRUSTRATED WITH IN IRAQ, THEY ARE ALL READY TO JOIN AS WELL.
THEY HAVE PARLIAMENT AND CBI WORKING TOGETHER SO THEY CAN JUST MAKE THEIR DEPOSIT AND WE ARE ALL DONE HERE.
IQD NOVA: LETS GO!!!!!!
PrincessDD: This is from March but still good info
If Greece Leaves The Euro Then Spain, Italy And Germany Would Follow
PrincessDD: CORRECTED-EU leaders forced Greece to drop last referendum but may not interfere now
Here's why are global markets panicking over the Greece crisis
Read more at: http://economictimes.indiatimes.com/articleshow/47843379.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
PrincessDD:So we may very well see a domino effect next week it sounds like.
MY LADIES: <<< Read more at: http://economictimes.indiatimes.com/articleshow/47843379.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
The investors however are more concerned with the other options and that is the possibility of a debt default by Greece. One needs to understand that this would be a major bankruptcy after the Lehmann case.
At that time the contagion effect that followed the Lehmann collapse had caught everyone by surprise which led to the meltdown in the global markets. Investors now are reliving the nightmare of 2008 when they look at Greece.
MY LADIES: OUCH OUCH OUCH!!!
They are fearful that a Greek default and in turn its exit could lead to a contagion effect. This in turn could result in a collapse of the financial system in Eurozone given the huge amounts owed to the Euro zone members and a possible dominoes effect in other economies particularly that of Spain and Italy, which are considerably larger than Greece and would cause greater harm to the GDP of the zone.
While these fears are certainly justified, however we believe that they are already priced in by the markets this time around . Having said this, there would be an immediate selloff in case of a default/exit but markets should recover post that.
As far as India is concerned, any sharp selloff in the global markets would certainly extend to our markets as well. However we are relatively in a sweet spot as compared to the other countries .
MY LADIES: YES INDIA LIKE IN YOUR OWN BANK MAYBE...
MY LADIES: ALL RIGHT NOW TODAY WAS A GREAT DAY FILLED WITH MUCH NEWS, BUT I JUST WANT TO BE SURE YOU ARE ALL UNDERSTANDING SOMETHING.
WHAT WE TALK ABOUT IN HERE IS GLOBAL ISSUES, AND SOMETIMES OUR CHAT FROM HERE GOES OUT TO RECAPS WHICH IS OK
BUT I WANT TO BE CLEAR THAT WE ARE IN NO WAY DRAWING A STRAIGHT LINE FROM GREECE OR IRAN TO IRAQ AND THE DINAR.
WE DO NOT THINK THAT GREECE OR IRAN IS HOLDING UP THE TRADING OF THE DINAR
WE DO NOT STUDY AND FOLLOW IRAQ ON A DAY BY DAY BASIS.
WE KNOW THAT A NEW BANKING SYSTEM IS COMING IN, WE KNOW THAT THE SDR MODEL IS COMING TO PASS, AND WE KNOW THAT WITH ALL THE CHANGES THAT ARE HAPPENING THAT IRAQ WILL HAVE TO CHANGE TOO.
WE ARE CERTAIN THAT IRAQ WILL NOT REMAIN IN ISOLATION HOW CAN IT, SO I SAY THIS OVER AND OVER AGAIN PLEASE DO NOT TRY TO DRAW A STRAIGHT LINE FROM IRAN OR GREECE TO IRAQ.
THIS IS NOT WHAT WE ARE STUDYING. THESE GLOBAL EVENTS ARE HUGE AND MUCH BIGGER THAN GREECE OR IRAN AND IF YOU ARE NOT STUDYING THEM EVERYDAY YOU COULD GET CONFUSED OR MISINTERPRET WHAT WE ARE TRYING TO EXPLAIN.
IRAQ WILL BE REACTIONARY TO THE ENTIRE BANKING SYSTEM AND IMF MONETARY REFORMS. AND THEY WILL REACT REGARDLESS OF WHAT IS GOING ON IN THE COUNTRY WHEN THE TIME COMES.
JUST WANTED TO MAKE MYSELF CLEAR ON THAT. WE ARE AWARE.