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To: Jibacoa who wrote (105408)	11/4/2011 12:41:20 AM
From: Spekulatius	Read Replies (2) of 118717

<<It looks like the Greek referendum that will determine if Greece stays in the Euro zone will be on Dec 4 or 5.>> If there will be one.<g> News keep changing: OK, no referendum - but how the Greek leadership restore confidence? Why would you lend money to any Greek company, bank of other institution if Greece can decide on a whim to leave the Euro and pay you back in Drachme? Why would you keep money at a Greek bank i where the government can confiscate them, or the bank may be subject to a run - better to keep them under the mattress (interest rates on deposits are extremely low anyways, so it's not that you loose much income), or even better to buy gold or other precious metals where the government has a much harder time to put a claim on. If Greece want to leave the Euro, they need to do it quick in an overnight action, not do a referendum and leave more than a month for everybody to panic over their assets and stash them away. My strong belief is that the Greece economy and financial system is in a much worse shape than a few days ago, before this whole thing was floated. Greece is going to be one hell of a leaky ship, with the remaining liquidity draining out quickly and leaving the country.

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