EU and Greece talks fail! another cyprus moment looms!

[cuddaloreappu]

talks between greece and European union have failed miserably and now if this continues the  eurozone will break down with greece exit and euro will tumble down..

financial markets across world will have shocks from this..greece will have to find a new currency..

A lot of capital will flow out of greece which means there is a chance that people will use bitcoin to protect their money..

https://www.youtube.com/watch?v=BSnAyJ_0AmU

[orsotheysaid]

Yup, shits going down in the 28. If only Greeks would get on BTC.

[countryfree]

There's no reason why the Euro zone should explode because of one smallish country leaving the club.
Then, it's very different from Cyprus, there aren't many wealthy people with big assets in Greek banks.

[croato]

There's no reason why the Euro zone should explode because of one smallish country leaving the club.
Then, it's very different from Cyprus, there aren't many wealthy people with big assets in Greek banks.

That is true but what if Spain, Portugal and Italy for example one day decide same as Greece? In my opinion, Greece is only test but lot of countries in EU have big debt problem.

[Beliathon]

Domino effect no matter how this plays out, things will be ugly.

[Q7]

If they do leave, high chances euro will be able to restructure back their system and grew stronger. However, more interesting is the impact on how Greece is going to find a way to settle back all the bailout funds provided to them from the eu countries. They cannot continue forever like this.

[cellard]

There's no reason why the Euro zone should explode because of one smallish country leaving the club.
Then, it's very different from Cyprus, there aren't many wealthy people with big assets in Greek banks.

Lol, things may not be as simple as you think. Like said before by the poster above, domino effect will ensue. It's all about giving an image. This damages EUR image.

[Remember remember the 5th of November]

Can someone tell me how all of this started exactly? Why is Greece having issues, moreover wanting to/having to ditch the Euro?

[thms]

Biggest fail is to think that cyprus had any effect on BTC price at all.

[Brewins]

There's no reason why the Euro zone should explode because of one smallish country leaving the club.
Then, it's very different from Cyprus, there aren't many wealthy people with big assets in Greek banks.

Most if not all Euro zone countries have financial problems.

Greece and Portugal already caused trouble to Euro zone, Greece leaving might start a trust crisis or something

[Beliathon]

Can someone tell me how all of this started exactly? Why is Greece having issues, moreover wanting to/having to ditch the Euro?

https://www.youtube.com/watch?v=kpTAuivTqKE#t=50m11s

[bitcool]

Most people in the market no longer expect BTC price responding to this kind of events, but... you never know, expect the unexpected.

[Zawamiya]

i don't think it will have any impact on bitcoin price
but yes, it will affect EURO against other currencies
1USD = 1EUR seems possible

[maku]

There's no reason why the Euro zone should explode because of one smallish country leaving the club.
Then, it's very different from Cyprus, there aren't many wealthy people with big assets in Greek banks.

Most if not all Euro zone countries have financial problems.

Greece and Portugal already caused trouble to Euro zone, Greece leaving might start a trust crisis or something

So that is a good sign if they leave. Euro as currency for everyone was a bad idea  after all. European Union must fall.

[painlord2k]

There's no reason why the Euro zone should explode because of one smallish country leaving the club.
Then, it's very different from Cyprus, there aren't many wealthy people with big assets in Greek banks.

Most if not all Euro zone countries have financial problems.

Greece and Portugal already caused trouble to Euro zone, Greece leaving might start a trust crisis or something

Let them see what happen when Greece default and Greece must ask to the market to loan money to the government.

[cr1776]

Impose capital controls in Greece or repeat the mistake of Cyprus

Anyone in Greece should be preparing for this now.

Check this article out today:
http://www.ft.com/intl/cms/s/0/607c4bd4-b5e9-11e4-a577-00144feab7de.html?siteedition=intl#axzz3S0aNG78l

By Hans-Werner Sinn

Another crisis, another insidious bout of capital flight. In Greece today, as in Cyprus three years ago, depositors are withdrawing bundles of euro notes to be spirited out of the country. Most of all, investors are rushing to make electronic transfers to banks elsewhere in the eurozone. In December 2014 alone, €7.6bn were sent abroad, equivalent to about 4 per cent of Greece’s economic output.

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/607c4bd4-b5e9-11e4-a577-00144feab7de.html#ixzz3S0aqWrE8

In 2012, Cyprus was in a similar bind. Wealthy Cypriots (and foreigners who had deposits there) tried to whisk their funds to safer places, draining liquidity from the island’s banks and threatening them with insolvency.

The Cypriot central bank kept the system afloat by lending out €11bn of newly created money under a protocol known as Emergency Liquidity Assistance. These funds were in effect borrowed from other eurozone central banks, which put euros into the new accounts outside Cyprus that were being set up by fleeing investors.
...

[oblivi]

Been saying it all along and I got told as a crazy individual by claiming Greece would go out of the EUR. It's happening guys.

[ajareselde]

talks between greece and European union have failed miserably and now if this continues the  eurozone will break down with greece exit and euro will tumble down..

financial markets across world will have shocks from this..greece will have to find a new currency..

A lot of capital will flow out of greece which means there is a chance that people will use bitcoin to protect their money..

https://www.youtube.com/watch?v=BSnAyJ_0AmU

wait ..what?! people are going to use bitcoin to protect their money? like they did last time and lost 80% of their investment..
I agree the situation looks bad for them, but i doubt that it has anything to do with bitcoin.
And EUR stability wont be affected much by this, its only Greece, its small and miserable, EU will swallow it, like it allways did.
cheers

[OROBTC]

...

Cyprus should have been the wake-up call to everyone to have a "Plan B" and even a "Plan C" re preserving wealth...  And, IIRC, it was the middle class in Cyprus who got screwed the worst.

BTC is perfect for taking out a large amount of wealth.  I read at Zero Hedge recently that sales of gold coins are up sharply in Greece.  I would think that Bitcoin would be an even easier way to get some money OUT of Greece.

I would be looking very hard at buying BTC were I a Greek...

[BitcoinFX]

Can someone tell me how all of this started exactly? Why is Greece having issues, moreover wanting to/having to ditch the Euro?

Hotspots: Greece (1/2) - MaxKeiserTV - https://www.youtube.com/watch?v=bISfaVkszo0

Hotspots: Greece (2/2) - MaxKeiserTV - https://www.youtube.com/watch?v=LnsWEXqhd7M

Keiser Report: Greece, Beware Bureaucrats & Bankers Bearing Bailouts (E716) - https://www.youtube.com/watch?v=_gg3qK_gYkI

Keiser Report: Hidden Truth About Greece (E714) - https://www.youtube.com/watch?v=84j6DzzzyK8