Archived Piraeus bank CEO says Greek banks will not open Monday (telegraph.co.uk)
submitted ago by redikulous
Posted by: redikulous
Posting time: 5.4 years ago on
Last edit time: never edited.
Archived on: 2/12/2017 1:51:00 AM
Views: 538
SCP: 48
48 upvotes, 0 downvotes (100% upvoted it)
Archived Piraeus bank CEO says Greek banks will not open Monday (telegraph.co.uk)
submitted ago by redikulous
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[–] bonesmccoy 0 points 10 points 10 points (+10|-0) ago
This is huge news.
I hope that voat.co users in Greece are hitting the ATMs today.
[–] FormicaArchonis 0 points 3 points 3 points (+3|-0) ago
From what I heard some of 'em have been hitting the ATMs since at least last week.
[–] [deleted] 0 points 8 points 8 points (+8|-0) ago
[–] yankee_rebel 0 points 1 point 1 point (+1|-0) ago
Not quite yet if Greece votes Yes on the referendum the IMF already said they'll work with the country despite the nation already having defaulted.
[–] pilgrimboy14 0 points 1 point 1 point (+1|-0) ago
There reaches a point where a person and a nation just needs to declare bancruptcy. Taking care of that debt is killing them. The creditors don't care; they just want their money.
[–] Redeyedjedi 0 points 2 points 2 points (+2|-0) ago
The big question, in my opinion, is what does this mean for the euro. And as a corollary, bitcoin.
If the euro is going to drop in value, how can I use that info to make money?
[–] Opposite_Santa 0 points 1 point 1 point (+1|-0) ago
Short the euro.
You won't be the only one with that idea though.
[–] Endfall ago (edited ago)
By the time news reaches a content aggregator, the money's already been made. Most trading is done by algorithms these days precisely because humans are too slow.
So the answer is not bloody much. You can attempt to short like Opposite_Santa said, but that trains already left the station for the most part. Best thing you can do is probably keep your ear to the ground for subsidiary crises where you might make it in time to make some money, but of course, we have no idea if anything like that will happen.
If you're looking for a sure bet, you won't make much. High-yield sure bets don't exist.
[–] KleanRider 0 points 2 points 2 points (+2|-0) ago
Wow this sounds like what happened during the great depression.
[–] wolfsktaag 0 points 2 points 2 points (+2|-0) ago
this is gonna be interesting
[–] bf 0 points 1 point 1 point (+1|-0) ago
RIP Greece
[–] HP48GX 0 points 1 point 1 point (+1|-0) ago
Don't see any such announcement on the bank's website
[–] PolePosition 2 points 0 points 2 points (+2|-2) ago
Elect commies to fix your economy, they said.