... don't pop the bubbly yet .. interest rates are running the equivalent of 24%. .. the IMF is watching greece closely...
.......The country made a May 12 payment to the IMF only by emptying an IMF holding account, and a leaked IMF memo acknowledged Greece had little chance of making a scheduled June 5 payment. Many in the market say the next two weeks will be crucial for the country....
Looks like someone dropped the ball and announced the possibility of Greece taking percentage of bank deposits. Expect queues at ATMs tomorrow and a bank run by the big guys. It might be good news as it will finally show this amateur government how serious this situation actually is. They are saying this will push Greek government and since Greek issue is the thing holding back bank stocks we could have a very pleasant surprise before Saturday. Do they do champagne I wonder?
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