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geek tragedy

(68,868 posts)

11. This is why the "no" vote was going to mean Grexit.

Reply to bemildred (Reply #10)

Sun Jul 5, 2015, 06:23 PM

Jul 2015

ELA is supposed to be a temporary program, to be made to solvent banks to keep them liquid.

It's not a perpetual support program designed to shovel money at banks regardless of whether it will ever be paid back.

Greece has more debt than it could ever pay back. So, no one is going to lend it more.

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No plans for immediate Eurogroup meeting after Greek vote-EU official [View all] magical thyme Jul 2015 OP

They're not the ones that desperately need cash. n/t PoliticAverse Jul 2015 #1

true. they do, however, desperately need to prevent the contagion from spreading. magical thyme Jul 2015 #2

There's very little bank exposure to default, save for the ECB!! Yo_Mama Jul 2015 #7

ECB is supposedly going to keep ElA (emergency liquidity funding) open for now. Yo_Mama Jul 2015 #6

"Leftish".... Spitfire of ATJ Jul 2015 #3

*eek* CountAllVotes Jul 2015 #4

Yes, and they're playing "Final Countdown" n/t Bossy Monkey Jul 2015 #5

EC President, Donald Tusk, has just announced a special meeting . . . another_liberal Jul 2015 #8

Called by France and Germany. nt bemildred Jul 2015 #9

Greek banks desperate for emergency loans after voters reject bailout bemildred Jul 2015 #10

This is why the "no" vote was going to mean Grexit. geek tragedy Jul 2015 #11

Sure somebody will. Igel Jul 2015 #12

Greece as a nation declared they won't let anyone use debt to dictate behavior to them. geek tragedy Jul 2015 #14

Yep, it's not a pretty picture. nt bemildred Jul 2015 #13

Unbelievable DallasNE Jul 2015 #15

plan B Ironing Man Jul 2015 #16

hubris. they never expected to lose, never mind this badly. nt magical thyme Jul 2015 #17

How did the ECB lose? brooklynite Jul 2015 #18