sp'daily5
Summary
Monday is set for a significantly lower open... the issue now is... what sort of 'spooky news' headlines will flash across the wires?
I'd expect many of the EU leaders to be making some kind of comment across Monday.. ahead of a Tuesday emergency meeting.
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**ECB are set to maintain.. but NOT increase the current ELA (bank liquidity program) to Greece, but as things are... the Greek banking system will be completely zeroed out within the next day or two.
Unless some bizarre 'bonus deal' is offered... with some sig' degree of debt writeoffs, the Greek govt' is stuck... other than to hit the PRINT button for Euros... or simply... revert to the Drachma - something that most Greeks don't want.
I don't envy them, but then... they dug their own hole.. across many decades.
It still riles me when I hear 'austerity' as bad.. even from those I respect/follow.
Greece is in the bloody hole because they CHOSE to spend more than they produce for decades. Who is to blame.. other than the Greek people themselves.. especially those above age 50?
*to be clear, I'm delighted at the 'no' vote, but still.. .we know that Tsipras is now on the hunt for more money/loans/debt writeoff from the Troika... not to reduce spending.. or increase taxes.
The Greek people remain in denial... especially this night.