Thursday, 17 May 2012

Thursday 17th May

We Are Watching The Greek Banking System Die Right In Front Of Our Eyes
Money is being pulled out of Greek banks at an alarming rate, and if something dramatic is not done quickly Greek banks are going to start dropping like flies. {}

More on this, Slanders view..

BBC News - Greek banks, the euro and the ECB
Talk of a run on Greek deposits, and some banks being cut off from European Central Bank (ECB) support, have added a fresh twist to scary talk about Greece and the euro.

Is Canada grappling with Dutch Disease?
Conventional wisdom says that Canada is fighting a crippling bout of Dutch Disease.
- The Globe and Mail {}

Why China’s RMB exodus IS the story
' Forget about Greece and the euro. China’s capital outflow problem is the real ticking time-bomb for markets.
If China fails to plug this problem sharpish, the world’s biggest put option — the China growth story — could quite genuinely come undone.' FT Alphaville »  {}

Italy's banks shaken as economic slump deepens
As Greece erupts, Italy is moving into the eye of the storm. Its economy is contracting at speeds not seen since the depths of the slump in 2009 as draconian austerity bites, greatly increasing the risk of social revolt and a banking crisis.
With the world's third largest debt after the US and Japan at €1.9 trillion (£1.18 trillion), it is big enough to bring the global financial system to its knees.
Telegraph {}

Weisbrot and Krugman are Wrong: Greece cannot pull off an Argentina « Yanis Varoufakis {}

Beppe Grillo Shakes Up Italian Politics -
Italy that, in his words, invented evil banks, the Mafia and fascism -- and not much else.

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