Stocks fall globally as Greek talks collapse

[elux]

When you look at the problem as a purely Greek monetary problem, you have already failed in your analysis and conclusion.

Lets say that Greece does default. It is a relatively small amount of money and the loses are spread out over the whole world thanks to the IMF.

Its not the money, its the confidence in the union that will take the bigger hit.

yup

[phoenix1]

When you look at the problem as a purely Greek monetary problem, you have already failed in your analysis and conclusion.

Lets say that Greece does default. It is a relatively small amount of money and the loses are spread out over the whole world thanks to the IMF.

Its not the money, its the confidence in the union that will take the bigger hit.

yup

There is still confidence in the Union ??!!
Ooops ...

I remember reading a paper in the late mid 90's procalaimng that the Euro would inevitably collapse into chaos. Seems very prescient now.

[techgeek]

If greek really does collapse, the whole euro will shrug it off and learn to never lend a black hole.

They never grown import and exports wise, besides being a tourist destination. Its like cutting allowance to your kid who always didnt have enough for bubble gum thats .25 cent short every single day. Sooner or later you say no.

[dataispower]

PRECIOUS-Gold retains gains near $1,185 on safe-haven bids over Greece

http://uk.reuters.com/article/2015/06/16/markets-precious-idUKL3N0Z15SC20150616

[tinky winky]

When you look at the problem as a purely Greek monetary problem, you have already failed in your analysis and conclusion.

Lets say that Greece does default. It is a relatively small amount of money and the loses are spread out over the whole world thanks to the IMF.

Its not the money, its the confidence in the union that will take the bigger hit.

yup

There is still confidence in the Union ??!!
Ooops ...

I remember reading a paper in the late mid 90's procalaimng that the Euro would inevitably collapse into chaos. Seems very prescient now.

Greece is the country with the biggest risk of defaulting but there are plenty of other countries also at default risk. If Greece defaults then how long until other countries start to default in a cascade? It might result in a scenario similar to a bitcoin dump where the first dumper triggers a cascade of dumps and crashes the market.

[dataispower]

European stock markets hit four-month lows

"Fears that Greece is on the verge of default have hit Europe’s stock markets in early trading, driving them down to their lowest levels since February."

http://www.theguardian.com/business/live/2015/jun/16/greek-crisis-negotiations-deadlocked-as-time-runs-short-live-updates

[dataispower]

London open: UK stocks drop to five-month low ahead of CPI data

"UK stocks dropped into the red for a third straight day on Tuesday on the back of ongoing concerns about Greece, a sell-off in China and caution ahead of inflation data. "

https://uk.finance.yahoo.com/news/london-open-uk-stocks-drop-090300049.html

[dataispower]

Hong Kong Boom-to-Bust Stocks Show Challenge of China Link

"Wild gyrations in Hong Kong share prices are raising concerns that a new trading link with mainland China is a conduit for questionable trading practices that could undermine the city's reputation as a center of global finance.

At least four companies that climbed to dizzying values in only a few months have come abruptly crashing down in the past several weeks for reasons that remain unclear.

The strange trading patterns have gripped Hong Kong's financial community with a narrative of paper fortunes built quickly and then wiped out in an even shorter time."

http://abcnews.go.com/International/wireStory/hong-kong-boom-bust-stocks-show-challenge-china-31793228

[gotmilk_]

Capital controls in Greece?  

[dataispower]

China shares fall as government moves to limit margin trading

http://www.lse.co.uk/AllNews.asp?code=z8alejjm&headline=UPDATE_China_shares_fall_as_government_moves_to_limit_margin_trading

[dataispower]

Fund Managers Pile Into Cash Amid Market Volatility

"We seem to have entered an environment where cash is king and will likely be king for the foreseeable future," said Christophe Caspar, chief investment officer for Europe, the Middle East and Africa at Russell Investments, which looks after around $272 billion in funds."

http://www.nasdaq.com/article/fund-managers-pile-into-cash-amid-market-volatility-20150616-00596

[AtheistAKASaneBrain]

Because cryptocurrency isn't relevant enough for global finance.

Right now it doesn't need to be relevant to the whole globe, just a few million more people who have had enough of their savings seized or their fiat purchasing power diluted.

Also, I feel sorry for the Chinese retail investors. They don't realize it yet, but they are the unwitting participants in their government's attempt at a 'bail in' using their domestic stock market as the vehicle.  They will all soon be holding very heavy bags of way overvalued Chinese stock, that will begin a multi-year descent, and probably won't see a rise again for 7+ years or possibly a decade or more.

Not necessary a few million people, it only takes a handful of fiat whales to deposit their stuff on Bitcoin to drive the price nuts. Unfortunately, I don't see it happening any time soon. We are still the mega pioneers, it will take a couple years more.

[dataispower]

Bitcoin surges as Grexit worries mount, posts best run in 18 months

"Bitcoin surged by as much as 7 percent on Tuesday and was on track for its longest winning streak in 18 months, as concerns that Greece could tumble out of the euro drove speculators and Greek depositors into the decentralized digital currency.

Prime Minister Alexis Tsipras lashed out at Greece's creditors on Tuesday as he defied a string of warnings that Europe is preparing for a "Grexit". The debt-stricken country faces 1.6 billion euros ($1.8 billion) in repayments to the International Monetary Fund by the end of June."

http://www.reuters.com/article/2015/06/16/us-eurozone-greece-bitcoin-idUSKBN0OW2DS20150616?feedType=RSS&feedName=technologyNews

[gentlemand]

Bitcoin surges as Grexit worries mount, posts best run in 18 months

"Bitcoin surged by as much as 7 percent on Tuesday and was on track for its longest winning streak in 18 months, as concerns that Greece could tumble out of the euro drove speculators and Greek depositors into the decentralized digital currency.

Prime Minister Alexis Tsipras lashed out at Greece's creditors on Tuesday as he defied a string of warnings that Europe is preparing for a "Grexit". The debt-stricken country faces 1.6 billion euros ($1.8 billion) in repayments to the International Monetary Fund by the end of June."

http://www.reuters.com/article/2015/06/16/us-eurozone-greece-bitcoin-idUSKBN0OW2DS20150616?feedType=RSS&feedName=technologyNews

Weird. I would've expected a headline like that from one of the crappier straw-grasping coin 'news' sites. Is there the slightest evidence of this anywhere?

[pa]

http://www.zerohedge.com/news/2015-06-16/bitcoin-spikes-greeks-follow-cyprus-template

[dataispower]

China stock market bubble debate turns to when, not if, stocks will crash

http://business.financialpost.com/investing/china-stock-market-bubble-debate-turns-to-when-not-if-stocks-will-crash

[techgeek]

http://www.zerohedge.com/news/2015-06-16/bitcoin-spikes-greeks-follow-cyprus-template

That inspiring speech did some awesome job am I right?

Or am I right? Like greece is a prime example, when bitcoin is used when financial stress happens people need options to get out their money into btc fast to save whatevers left to exchange something better.

[lissandra]

wasnt this waiting to happen though?

I feel like greece is a black hole for the euro, and it just keeps on getting unfed until they stop.

[opossum]

Greece will exit. It is the correct solution for both parties.Just a bit bizarre how they have no apparent currency in waiting.

[NUFCrichard]

Greece will exit. It is the correct solution for both parties.Just a bit bizarre how they have no apparent currency in waiting.

It's about time that they left, the can has been kicked, maybe they have reached the end of the street now!
Bitcoin might get some influx from this situation, but Greece will NOT adopt bitcoin, so I wouldn't get my hopes up too much.

I will be happy if Grexit happens, short term pain instead of long term misery!