$1.48 to the £ today....this is getting ridiculous
#93
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Possibly the beginning of something bigger.
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#94
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There was the 300 Foxconn employees threatening mass suicide due to pay & conditions earlier this month. They seem to be starting to get more organized now compared to the individual suicides & suicide attempts previously reported many times.
Possibly the beginning of something bigger.
Possibly the beginning of something bigger.
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#97
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For those who missed it, the news that France lost its AAA credit rating masked some very grave news:
The Greek debt restructuring talks collapsed on Friday. The talks were centered around the banks writing off 50% of the debt - masking the default by saying they agreed to it.
The problem is that some of the banks had insured the loans, meaning that the can get 100% back if they don't accept the 50% deal. Others didn't, so they are happy to get anything.
The debt restructure and write off will take about 6 weeks to work through, and Greece needs to borrow again on the 20th March to keep afloat. It needs E14.4 million on that day to pay its debts. It needs to borrow that amount.
This may alter a lot of exchange rates.
Edited to add: Japanese banks hold $432m of Greek debt; Spanish banks $530; US banks $1.5bn; Italian banks $2.35bn; UK banks $3.4bn; French banks $14.96bn; German banks $22.65bn; and Greek banks $62.8bn
The Greek debt restructuring talks collapsed on Friday. The talks were centered around the banks writing off 50% of the debt - masking the default by saying they agreed to it.
The problem is that some of the banks had insured the loans, meaning that the can get 100% back if they don't accept the 50% deal. Others didn't, so they are happy to get anything.
The debt restructure and write off will take about 6 weeks to work through, and Greece needs to borrow again on the 20th March to keep afloat. It needs E14.4 million on that day to pay its debts. It needs to borrow that amount.
This may alter a lot of exchange rates.
Edited to add: Japanese banks hold $432m of Greek debt; Spanish banks $530; US banks $1.5bn; Italian banks $2.35bn; UK banks $3.4bn; French banks $14.96bn; German banks $22.65bn; and Greek banks $62.8bn
Last edited by slapphead_otool; Jan 14th 2012 at 1:06 pm. Reason: Added exposure data
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#98
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We came here in 1983 ang got 1.6 to the pound, wasn't happy then as we had just about paid off our house in the UK but had to take out a substantial mortgage here.
Fast forward 29 fantastic years and 5 Australian grandchildren later, we never think about what exchange rate we got, but say thanks every day for the fortunate life we have had.
Just do it.
Fast forward 29 fantastic years and 5 Australian grandchildren later, we never think about what exchange rate we got, but say thanks every day for the fortunate life we have had.
Just do it.
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#99
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For those who missed it, the news that France lost its AAA credit rating masked some very grave news:
The Greek debt restructuring talks collapsed on Friday. The talks were centered around the banks writing off 50% of the debt - masking the default by saying they agreed to it.
The problem is that some of the banks had insured the loans, meaning that the can get 100% back if they don't accept the 50% deal. Others didn't, so they are happy to get anything.
The debt restructure and write off will take about 6 weeks to work through, and Greece needs to borrow again on the 20th March to keep afloat. It needs E14.4 million on that day to pay its debts. It needs to borrow that amount.
This may alter a lot of exchange rates.
Edited to add: Japanese banks hold $432m of Greek debt; Spanish banks $530; US banks $1.5bn; Italian banks $2.35bn; UK banks $3.4bn; French banks $14.96bn; German banks $22.65bn; and Greek banks $62.8bn
The Greek debt restructuring talks collapsed on Friday. The talks were centered around the banks writing off 50% of the debt - masking the default by saying they agreed to it.
The problem is that some of the banks had insured the loans, meaning that the can get 100% back if they don't accept the 50% deal. Others didn't, so they are happy to get anything.
The debt restructure and write off will take about 6 weeks to work through, and Greece needs to borrow again on the 20th March to keep afloat. It needs E14.4 million on that day to pay its debts. It needs to borrow that amount.
This may alter a lot of exchange rates.
Edited to add: Japanese banks hold $432m of Greek debt; Spanish banks $530; US banks $1.5bn; Italian banks $2.35bn; UK banks $3.4bn; French banks $14.96bn; German banks $22.65bn; and Greek banks $62.8bn
Last edited by Turban Explorer; Jan 14th 2012 at 1:51 pm.
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#100
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We came here in 1983 ang got 1.6 to the pound, wasn't happy then as we had just about paid off our house in the UK but had to take out a substantial mortgage here.
Fast forward 29 fantastic years and 5 Australian grandchildren later, we never think about what exchange rate we got, but say thanks every day for the fortunate life we have had.
Just do it.
Fast forward 29 fantastic years and 5 Australian grandchildren later, we never think about what exchange rate we got, but say thanks every day for the fortunate life we have had.
Just do it.
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#101
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I think China might even buy euro debt more to protect a low yuan exchange rate. The money recycling continues.
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#102
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Being a glass half full type of bloke I dare say when Greece inevitably defaults it will barely register on the Richter scale and the sky wont in fact fall
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#103
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Societe Generale would have already priced this in.
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#104
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Can I just apologise to the OP for the complete and utter disregard to his posts by near enough everyone on this thread.
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