Greece Votes NO

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My understanding (after reading one of the articles posted by the news bot here, I believe) is that the proposal they were originally 'voting' on had already been withdrawn. IMO, it is more of a publicity stunt to say in effect, "Hey world, here's how we feel!"

IOW, I don't see this having any real impact on the markets. In still other words, whatever happens Monday...was already in the cards.
 
Hi WW. USQ makes a really good point. My guess is that China is in a bad place still and the Greek news doesn't help out so markets are down tomorrow. Whenever there is instability expect some waves. If we have a down day tomorrow, they'll blame it on the Greeks. But it's the market and who knows....maybe they'll say it's good news and everyone that's in makes a mint...wouldn't surprise me. What will be interesting is to check the AutoTracker tomorrow to see what changes have occurred among the TSPers based on todays news.

FS
 
It will be the reaction of the Eurozone that will determine the market reaction. If Greece is let go to fend for themselves, wouldn't it make sense for a stronger Euro? Stronger and consolidated presence? Think about their market share and hopefully we are past the worst. But if this raises the skirt of other countries having the same issues and "voting" their destiny.......HANG ON!
 
Frixxxx said:
It will be the reaction of the Eurozone that will determine the market reaction. If Greece is let go to fend for themselves, wouldn't it make sense for a stronger Euro? Stronger and consolidated presence? Think about their market share and hopefully we are past the worst. But if this raises the skirt of other countries having the same issues and "voting" their destiny.......HANG ON!
Click to expand...
What if Portugal and Spain play follow the leader and drop out of the EU? That's one thing they are worried about.
 
Frixxxx said:
It will be the reaction of the Eurozone that will determine the market reaction. If Greece is let go to fend for themselves, wouldn't it make sense for a stronger Euro? Stronger and consolidated presence? Think about their market share and hopefully we are past the worst. But if this raises the skirt of other countries having the same issues and "voting" their destiny.......HANG ON!
Click to expand...
Emphasis added.

Interesting. It should also be the reaction, or not, of other potential lenders.

Consider: Is it good business for the juice man[SUP]1[/SUP] to kill a delinquent customer? Does that help the juice man's bottom line? Does it cause other delinquent accounts to pay up? Or is it better to keep said customer alive with the hopes of one day, recovering funds?

[SUP]1[/SUP]'Juice man' is Chicago (Midwest? Nationwide?) slang for a (usually less sophisticated) lone shark. Nothing to do with the guy that made the juicer for your kitchen.
 
Celebration -- for now.

10 Consequences of Greece's 'No'


Jul 5, 2015 5:37 PM EDT By Mohamed A. El-Erian

By heeding their government's advice and voting "No" in the referendum on Sunday, Greek citizens sent an unambiguous message. Much like the fictional Americans portrayed in the movie “Network” who threw open their windows and shouted out, “I'm as mad as hell and I'm not going to take this anymore,” the Greeks are demanding that the rest of Europe acknowledge their distress.
Greece's Fiscal Odyssey
At this stage, however, only a handful of European leaders seem willing to listen; and even fewer appear willing to deliver the sort of relief that Greece desperately needs. The implications will be felt primarily in Greece, but also in Europe and beyond.
Here are 10 consequences of the vote that could unfold in the next few days:
1. The victory of the "No" camp -- with more than 60 percent of the vote, according to preliminary returns -- will initially lead to a general selloff in global equities, along with price pressures on the bonds issued by Greece, other peripheral euro zone economies and emerging markets. German and U.S. government bonds will benefit from a flight to quality. [more]
http://www.bloombergview.com/articles/2015-07-05/10-consequences-of-greece-s-no-


 
nnuut said:
What if Portugal and Spain play follow the leader and drop out of the EU? That's one thing they are worried about.
Click to expand...
They will wait and see.....I don't think they will be able to do any business unless it's cash only
userque said:
Emphasis added.

Interesting. It should also be the reaction, or not, of other potential lenders.

Consider: Is it good business for the juice man[SUP]1[/SUP] to kill a delinquent customer? Does that help the juice man's bottom line? Does it cause other delinquent accounts to pay up? Or is it better to keep said customer alive with the hopes of one day, recovering funds?

[SUP]1[/SUP]'Juice man' is Chicago (Midwest? Nationwide?) slang for a (usually less sophisticated) lone shark. Nothing to do with the guy that made the juicer for your kitchen.
Click to expand...
The Finance World is really interesting. Some times it's the small fish that gets cut loose, take the loss (banks) and invest in the more "sure" catch.
 
Not surprised either or particularly disappointed.
What Q says is what is being reported on the news and the actual proposal voted on had been withdrawn. I think the voters are not sure what they are actually voting on (the US has that problem too) and are just saying no one can tell us what to do. Cash shortages and bank closures are just the big EU bullies picking on us. Everything will be OK. If not we will express our displeasure.

The Greeks have always been kind of independent and contrary from my short exposure. They can take care of themselves but like monetary compensation for any perceived wrong against them.

Even their language is contrary. I took some amusement from a CNBC headline “Greece’s “nays” have it--“. The greek word for yes is ναι or Ναι and pronounced “nay or neh” by non-Greek speakers. Sounds a little like no in many languages. They headline made me wonder so I clicked on the story. An “OXI” poster was being held up by a person. That is όχι in lower case, pronounced oh-he by non-Greek speakers but should have a little k or ch sound before that h. Sounds a little like OK to English speakers.
Short “war story experience”: nothing like waiting for an answer where someone is either saying “nay, nay, neh” very impatiently or saying “ochee, ochee, ochee in the same or a more emphatic tone and not knowing what is expected of you.

The market will probably be down or go down Monday at first. Futures are down but VIX is up for S&P500. ??The VIX is for S&P500? Now I feel really stupid as I thought it was an overall market indicator like DJ. After that who knows? Da boyz and da botz?

Lot’s of replies since I started this and lot’s of good opinions.

Mine is that the EU was fought for hard as a part of the future on currency, one government direction and a world village. Those that want to keep it whole will probably not abandon those who have more needs than abilities.

Since I’m 60% in C fund right now there is no sense considering bailing out. Unless somehow the S&P500 goes up 3 or 4% before noon EST on Monday and stays there.

Everything will be ενταξι or “endaxi”.

PO
 
I'm on the sidelines, waiting for a good opportunity to jump back in.

We aren't there yet.

Wild ride ahead.
 
userque said:
Emphasis added.

Interesting. It should also be the reaction, or not, of other potential lenders.

Consider: Is it good business for the juice man[SUP]1[/SUP] to kill a delinquent customer? Does that help the juice man's bottom line? Does it cause other delinquent accounts to pay up? Or is it better to keep said customer alive with the hopes of one day, recovering funds?

[SUP]1[/SUP]'Juice man' is Chicago (Midwest? Nationwide?) slang for a (usually less sophisticated) lone shark. Nothing to do with the guy that made the juicer for your kitchen.
Click to expand...

sometimes you got to break a few legs so they remember the juiceman still has teeth. welcome to the 2015 hunger games. grandmas pushed down in the street and trampled, it happens. game on.
 
burrocrat said:
sometimes you got to break a few legs so they remember the juiceman still has teeth. welcome to the 2015 hunger games. grandmas pushed down in the street and trampled, it happens. game on.
Click to expand...

Now you're thinking like a profitable juice man. Right. Break legs. No killing. Sends a message to others and the subject client. Pay up. Maybe Greece can stay, but at great 'costs.' We'll see.

By the way, I really haven't been following this stuff too closely; but correct me if I'm wrong:

Simply exiting/getting-kicked-out-of the EU and then printing your own money doesn't absolve you of previous debt...right? And surely, your Monopoly money wouldn't satisfy your creditors?
 
userque said:
Now you're thinking like a profitable juice man. Right. Break legs. No killing. Sends a message to others and the subject client. Pay up. Maybe Greece can stay, but at great 'costs.' We'll see.

By the way, I really haven't been following this stuff too closely; but correct me if I'm wrong:

Simply exiting/getting-kicked-out-of the EU and then printing your own money doesn't absolve you of previous debt...right? And surely, your Monopoly money wouldn't satisfy your creditors?
Click to expand...

there is no easy way out. they will get their blood. one way, or the other. or else they'll get it from your children. money never sleeps.
 
Will be interesting to see if the financial turmoil abroad boosts the U.S. stock market.
If Greece/Europe/China are 'down'...invest in the U.S.?

'China or Greece bigger concern' video raises some interesting points.
http://www.cnbc.com/id/102752199
 
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