,
DINARESGURUS.BLOGSPOT.COM_________________ _______

Monday, June 29, 2015

KTFA CHAT UPDATE, 29 JUNE

 KTFA:
cleitus : If I recall correctly, the 12 running the world finances, will want the 7 items (listed in past CC's) to happen in Iraq, in July. If I'm wrong, someone throw me a lifeline.
Precisely how I understood Frank's comments also.
1) New CBI Governor
2) New (5 billion dollars) bonds (with rate)
3) New 50 & 100 mil. denoms
4) New Lower denoms
5) Pay salaries in dinars not US $
6) Master cards for the displaced Iraqi population
7) Credit rating of at least a BB

Along with the above I also understood from the CC the following was also necessary for the 12.

1) Amnesty Law to be passed by July
2) More Investment Laws to be passed by July
3) National Guard Laws for the borders
4) HCL Law and Tariff Laws have been primed and ready to be introduced when all is ready and set to GO!

If I'm wrong, please, someone correct me.

Frank26: Not bad.

HUB & POPPY3 TIDBITS, 29 JUNE

6-29-15 Hub: Think of this, when Iraq opens all the construction, military, and other contracts they have in place, can they do it at 1166 figure. NO, their currency is not a tradable internationally accepted money at this time. Can you deal in dinar, no, we bought it through currency brokers, bankers, etc. but try to use it. You can’t even take it to the bank and do anything with it. What does it need to go international? A value and to be recognized by the world. So all that to say this...I think all these articles and especially the two or three that say they need to value their money means we are right there.
*****
6-29-15 Poppy3: INFORMATION IS TELLING US ALL THAT LIGHTNING IS ABOUT TO STRIKE. ABADI PROMISED PEOPLE WOULD START GETTING PAID AND TO JUST BEAR WITH HIM AND THE ADMINISTRATION TILL JUNE AND THINGS WOULD GREATLY IMPROVE. MORE BUYING POWER AND THE PEOPLE ESPECIALLY THE WIDOW AND WAR VETERANS THAT HAVE SACRIFICED.

IN COMPLETING THESE OBLIGATION HE HAS TO COMPLETE REFORM AND THAT IS WHAT WILL GET US PAID AS WELL. ALL ARE GOING TO BENEFIT FROM THEIR EFFORTS SINCE HE HAS TAKEN OFFICE. BIG CHANGES ARE TAKING PLACE AS THE NEWS TELLS US. IF YOUR NOT EXCITED AND ON FIRE THEN YOUR WOOD MUST BE WET. 

BULLDOG75: 57 BRIC$ COUNTRIES SIGN TODAY WITH AIIB, 29 JUNE

BULLDOG75: 57 BRIC$ COUNTRIES SIGN TODAY WITH AIIB

06/29/2015

An astronomical amount of money is flowing from China.  From Dragon$ to BRICS supporter nations, there are deep pocket dollars strengthening from the East.   Watch closely Shanghai and Hong Kong Financial Centers.  There is strength in numbers.   Gold is golden. Silver is the glass slipper.

We are blessed and highly favored.

I Love You All,    Bulldog75
~~~
Picture
China, India, Russia largest shareholders in China-led bank

June 29, 2015

Representatives of prospective founders of the Asian Infrastructure Investment Bank (AIIB) prepare to attend the signing ceremony of the articles of agreement of AIIB in Beijing, capital of China, June 29, 2015 [Xinhua]

Fifty countries on Monday signed the articles of agreement for the new China-led Asian Infrastructure Investment Bank,  the first major global financial instrument independent from the Bretton Woods system.

Seven remaining countries out of the 57 that have applied to be founding members, Denmark, Kuwait, Malaysia, Philippines, Holland, South Africa and Thailand, are awaiting domestic approval.

“This will be a significant event. The constitution will lay a solid foundation for the establishment and operation of the AIIB,” said Chinese Finance Minister Lou Jiwei.

The AIIB will have an authorized capital of $100 billion, divided into shares that have a value of $100,000.

BRICS members China, India and Russia are the three largest shareholders, with a voting share of 26.06 per cent, 7.5 per cent and 5.92 per cent, respectively.

Following the signing of the bank’s charter, the agreement on the $100 billion AIIB will now have to be ratified by the parliaments of the founding members.

Asian countries will contribute up to 75 per cent of the total capital and be allocated a share of the quota based on their economic size.

Chinese Vice Finance Minister Shi Yaobin said China’s initial stake and voting share are “natural results” of current rules, and may be diluted as more members join.

Australia was first to sign the agreement in the Great Hall of the People in Beijing on Monday, state media reports said.

The Bank will base its headquarters in Beijing.

The Chinese Finance Ministry said the new lender will start operations by the end of 2015 under two preconditions: At least 10 prospective members ratify the agreement, and the initial subscribed capital is no less than 50 per cent of the authorized capital.

The AIIB will extend China’s financial reach and compete not only with the World Bank, but also with the Asian Development Bank, which is heavily dominated by Japan.
China and other emerging economies, including BRICS, have long protested against their limited voice at other multilateral development banks, including the World Bank, International Monetary Fund and Asian Development Bank (ADB).

China is grouped in the ‘Category II’ voting bloc at the World Bank while at the Asian Development Bank, China with a 5.5 per cent share is far outdone by America’s 15.7 per cent and Japan’s 15.6 per cent share.

The ADB has estimated that in the next decade Asian countries will need $8 trillion in infrastructure investments to maintain the current economic growth rate.

China scholar Asit Biswas at the Lee Kuan Yew School of Public Policy, Singapore, says Washington’s criticism of the China-led Bank is “childish”.

“Some critics argue that the AIIB will reduce the environmental, social and procurement standards in a race to the bottom. This is a childish criticism, especially because China has invited other governments to help with funding and governance,” he writes.

The US and Japan have not applied for the membership in the AIIB.

However, despite US pressures on its allies not to join the bank, Britain, France, Germany, Italy among others have signed on as founding members of the China-led Bank.

Meanwhile, New Zealand and Australia have already announced that they will invest $87.27 million and $718 million respectively as paid-in capital to the AIIB.

The new lender will finance infrastructure projects like the construction of roads, railways, and airports in the Asia-Pacific Region.

http://thebricspost.com/china-india-russia-largest-shareholders-in-china-led-bank/#.VZFy8NLbKcw

TNT CC NOTES, 29 JUNE

TNT Call notes 29-June-2015
I never thought we’d be here but here we are.  We’re a little late on the call because I needed some coffee and a bite to eat.  I’m tired, and Pam gave instructions for me to be nice anyway, so I thought I’d better have some coffee!
Tony:  Good morning, TNT!  Today is Monday, June 29, 2015.  I’m not depressed about anything, just tired because it’s been a long weekend.  All the news is good.  I will clear up all the confusion with the way I see this, and all the people we talk to. We told you last week that we need to see what happens with Greece.  I know you all discussed this over the weekend.  This is what we have:  Is Greece directly involved in the RV?  No,  not in anything Greece is doing but their general situation does.  The  RV has already been done. Everybody is ready:  the banks, Iraq, all the rest.  We are currently waiting for the Greek situation to show itself to the world and it has done today.  The Yes or No vote doesn’t matter, all we need is a conclusion – they have a plan for Greece either way.  One works well and the other does not, but that is up to them.  The fact they are delaying until 5. July is immaterial for us.  The German Chancellor wanted something by market-opening this morning.  The market went down 3% but didn’t go crazy.  If the global market stays stable… they want to know how the market will go globally because that affects all of us.  Because that is pretty calm, they are feeling okay.  It could go today, tomorrow… let’s see what happens.  Everyone is fine with what happened today. They were expecting some kind of reaction there being no deal with Greece, but it’s okay.
Iraq has some things lined up for Wednesday and Thursday.  This could go before that—today or in the next 48 hours.  Greece said that they didn’t meet their deal and don’t plan to.  That doesn’t make sense to the world, but it is what it is.
303 caller:  You mentioned last week that you would discourage layaways or reserves.  Is that just because of Sterling or other factors?
Tony:  I’m not encouraging or discouraging reserves.  My understanding is that 90% of reserves are not going to happen.  I would have a Plan B, just in case.  Things are changing even as we speak, so I’m not saying that is 100%.  Not one currency dealer has called me with their plans.  Based on what I heard before, most were going to drag it out past the window for contract rates.  It never hurts to have a Plan B, either way.
Caller:  I’m thinking that all the dealers are going to hand back the money because they cannot perform on the reserve contract.  Won’t that lay them open to liability claims?
Tony:  If they have the ability to perform and don’t perform, then yes.  If something happens so that they can’t perform, then who knows?
Caller:  [Appreciation]  I’m a military historian, and we started with big armies engaging with each other.  Now, military forces are decentralized like ISIL, so I don’t know when they will get their hands around the head of the snake. Complexity of country brings about emerging properties, so every time they push the button, something else comes in.   I would rather deal with the consequences than to timidly hold back until conditions are perfect. They will never be perfect.  Tony, please defeat the argument that this has to be a long-term process.
Tony:  You’re really saying “why can’t we just press the button?”  I understand that.  If it were just a bunch of dinarians on the internet, with the rest of the world not having a clue, that would be one scenario.  IN the last few months, this has been exposed to many people outside the dinarian world, in the banks, and especially to the Iraqi people. The rate has been loaded on their cards, and they are being told for the last few months that their currency is being revalued. They have a contest that says three people will win 30K dinar or 100,000 dollars.  The situation in Greece – how will that affect the global markets and their debt?  They have to make a decision on that, and see how it goes.  Iraq cannot be a fountry without their own currency (with significant value) to achieve all the goals they have set and the world has set for them.  Tomorrow is the last day for Greece to pay;  if they default, that will set a plan in motion.  Or maybe it will the Wednesday or Thursday.  But everyone I have talked to has said that they are ready to go and all they need is an announcement.
Caller:  This morning, I got up at 5am for an 11am call, so thank you for picking my call.  Last week we had First-time Caller Friday… if you’re going to do that, please announce it on Wednesday so that I don’t have to get up at 5am to get on the call – is that fair to ask?
Tony:  That’s Pam’s deal – talk to her about it!  You were just the next in line. 
404 caller:  Greece has a fair amount of Iraqi currency;  why then is the IMF reluctant to release the RV? That would give Greece money to NOT go into default.  Or is there some kind of magician’s trick, keeping us focused on Greece rather than the other hand?
Tony:  I think everything is set in the other hand.  All these other countries were in the same position as Greece:   Italy, Spain, Portugal, Ireland.  All of them were told “fix your economy and we will help you with that” because otherwise they would  take down the whole economy.  Four out of five agreed to fix their economy so that all can flourish.  One decided that they would just take the money without making changes. Now we are getting ready to flood the country with money, and without changes, they will bring down the new economy the same way they did the old one.  Greece gets all this money, they continue to party, and that just prolongs that action.  Or they can tell us what they are going to do so that the rest of the world can isolate them if necessary.  If they have dinar, if they exchange and have more money how long with that last?  They will still be broke unless they change the way they operate every day.  That is a decision they have to make, and we are seeing how the rest of the world will react.  So far, it seems everyone can live with what Greece is deciding.  In Iraq, they are announcing to their people they will load their cards again on Thursday, so maybe they know something we don’t.
So now they are voting on the 5th, and we won’t know for another week what the people will decide.  Everyone talking to me is saying that it won’t matter to us;  we’ll see.
Caller:  Also, they could cancel the referendum.
Tony:  The government of Greece want to find out what the people want to do.  Right now, you can only withdraw $67, if you can find an ATM with money in it.  Their bank accounts have been frozen for a week, and if this goes forward, they might be frozen for longer.
Caller:  Thanks, and Vegas, Vegas, Vegas!
831 caller:  What do your sources say about the BRICS and  AIIB bailing out Greece?  If they have an asset-based currency, wouldn’t that solve the problem?
Tony:  They know that just giving Greece more money will not solve the problem.  It’s like putting the candy on the table and telling the kids not to eat it.  So they are not going to put the candy on the table because Greece doesn’t have the sense to eat it sensibly. It’s about more than the money, it’s about changing the way you live every day, and that is what Greece is not willing to change, it seems.
313 caller:  How are you?
Tony:  I am super-fantastic, actually.  I didn’t talk as much as usual with DC and Pam and we enjoyed our weekend because we knew that nothing would happen until the market opens on Monday.  Angela Merkel said we would have to see some action by that time.  Nothing much happened; the market didn’t react. If that continues throughout the day, this thing is ready to go.  There are no meetings nor discussion about Iraq, what Iraq is doing or not doing. Every finance minister in every country is focused on Greece:  What are you going to do and how will that affect us?  I knew exactly what to look for, this morning, this evening when the markets close, or tomorrow after they declare that Greece has officially missed its deadline and they can implement their plan, whatever it is.  Iraq put out over the weekend that they are loading the cards and they will award three people 30K dinar each, which means $100,000 each.
Rates:  dinar = $3.91;  dong = 47 cents, rupiah 1.05, zim at 11 cents… no, Pam says not to give out the rates.  The rates are still the same as I’ve been saying all along.
Caller:  Vegas, Vegas, Vegas!
601 caller:  It sounds like security is good enough in Iraq;  the Greek thing is what’s staring us in the face, waiting to see which way it goes.
Tony:  If you shut a whole country down because they cannot pay the IMF or anyone else, and they have shut people off from their bank accounts… if things don’t get better by Monday, they won’t change on Tuesday or Wednesday.  I don’t know what kind of idiots are not getting money out of the bank, and the IMF says that will continue if Greece doesn’t pay up – who would vote for that?  The stores in Greece aren’t even taking credit cards now because they’re not sure they will be paid.  So it’s cash or nothing, and they cannot get the cash either.  Will Greece become a third-world country?  It has to be affect the countries around them, and even the US because it affects imports and exports. Will the RV be affected by that?  No, because the RV is done, but they are concerned that an influx of money will destabilize things further.  They want to do the announcement when the markets are smooth, not all over the place.
423 caller:  Have you heard anything more about Sterling?  They don’t answer their phone.
Tony:  they have a statement on their site, and that’s all I know.  I haven’t talked to Frank or Ty;  I haven’t called them myself, I’m just waiting to see how it plays out.  I try to be transparent or at least upfront:  there is an FBI investigation involving Sterling. My giving my opinion is not going to help the situation, and won’t help me because I might be interfering with the investigation.  I’m just saying that Sterling is not the only one, so I would plan on them not being there;  worry about it afterwards because this is so close that they probably won’t resolve this during the contract rate period.  If you choose, you can buy more dinar or other currencies, if you choose. 
Caller;  You suggested an attorney, but I don’t have money until after this goes.  Should I talk to the Attorney General?
Tony:  Against Sterling  or against the FBI? 
Caller:  I just want the currency I paid for!  Vegas, Vegas, Vegas!
732 caller:  Tomorrow is the deadline for Greece to pay back the IMF or not, correct?
Tony:  They have to choose whether to do what the IMF suggested in terms of changing their spending, etc.  If not, they are in default, and they won’t receive further IMF funding.
Caller:  So if they have a referendum, if will be too late, won’t it?
Tony:  In theory, yes… but in practice, if they take another week, they take another week.
Caller:  So do you infer that they are ready to let the RV go, meaning Baghdad then the rest of the world?
Tony: Yes, Iraq first, then all the little people in the world could exchange as well.
Caller:  With Sterling I understand you are mainly talking about the reserves.  If you bought from Sterling and you have the physically had the currency, will that be okay?
Tony:  This is just my opinion, but I don’t think there is any issue with currency you have in your hand.  
Caller:  The receipts will be needed at tax time, will there be an issue because the receipts are from Sterling?  As long as it is genuine currency…
Tony:  By that time you will have exchanged, and the note will be in the bank.  They are not going to worry about any particular note coming from Sterling. 
Caller:  Vegas, Vegas, Vegas!  What about somewhere about the East Coast?  Or maybe Dallas?
Tony:  If you create a petition on the forum, we’ll press DC ot attend an event in Dallas.
Today we are keeping this to one hour to help the transcribers.  Pam?  It’s your show…
Ray:  Sounds like we lost Pam. Continue to enjoy this Marvelous Monday and we will see what we see when we see it!
Tony:  Alright, guys.  All we can do is to watch CNN and see what happens with Greece, or watch the financial markets to see if it’s going bad or if it’s leveling off.  We are just waiting for is for Lagarde, Obama, and the other leaders to decide they are letting this go.  Iraq is announcing to their people about the cards on Thursday.  We are in the final position for this to go and to tell the banks to go do this.  The rates are in the global banking system.  We are in a great position.  Let’s hope for the best and prepare for the worst.  If this does happen, I will send out a tweet and we’ll be ready to rock and roll. 

MY LADIES CHAT UPDATE :"It's Early and Things are Already a Mess!", 29 JUNE

MY LADIES: GOOD MORNING ALL, TODAY WE'RE GOING TO TAKE A LOOK AT STOCKS AND BONDS AROUND THE GLOBE AND SEE HOW THINGS AFFECT EACH OTHER CAUSING THE DOMINO ACTION.

Greece debt crisis: Global stock markets slide   http://www.bbc.com/news/business-33307810

Stock markets in Europe and Asia have seen big falls after Greece closed its banks and imposed capital controls.

London's FTSE 100 index fell 2% in early trade. Earlier in Asia, Japan's Nikkei index fell nearly 3%

On the currency markets, the euro had fallen to $1.0953 at one point in Asian trading from $1.1165 on Friday, but it then recovered some ground.

Elsewhere in Europe, Germany's Dax share index and France's Cac 40 were both down more than 3%. The Athens Stock Exchange and Greek banks are closed all week
....
At the weekend, the Greek government confirmed that banks would be closed all week, and imposed capital controls, limiting bank withdrawals to €60 euros (£42) per day

MY LADIES:  SO THAT ISN'T VERY MUCH IN A DAILY ALLOWANCE AND GREEK BANKS WILL STAY CLOSED UNTIL JULY 7TH

"To a certain extent, we do expect markets to react to this with peripheral bond yields probably higher, the euro a little bit lower throughout the week and some strength in the safe havens like the Swiss franc and the British pound," David Stubbs from JP Morgan Asset Management told the BBC's Today programme.

He added that because the economic situation in the eurozone had improved since 2011, the region's economy should be able to weather the storm.

**********

Bandito Rox:  (*) VIDEO: 35 Billion wiped of Australian stocks due to probable Greek exit, also Greek banks to remain closed until after July 6th
http://www.9news.com.au/National/2015/06/29/08/07/What-the-Greek-debt-crisis-means-for-Australia

PrincessDD:  China Secures Veto Power as Members Sign Up to New Bankhttp://www.bloomberg.com/news/articles/2015-06-29/china-secures-veto-power-as-members-sign-up-to-100-billion-bank

China-Backed Development Bank Holds Signing Ceremony in
 Beijing.                           http://time.com/3939521/china-development-bank-aiib-signing-ceremony

China gets slightly over 30% stake in AIIB as bank takes shape

http://atimes.com/2015/06/china-gets-30-stake-in-aiib-as-bank-takes-shape/

MY LADIES:
  Greece: Uncertainty reigns after referendum gamble 
  http://www.cnbc.com/id/102794601

Although details of the measures they will actually be voting for or against are not yet public, Greeks are expected to vote on whether to accept the bailout measures offered by international creditors, which come with the strings of prolonged austerity measures attached, or to reject them.

MY LADIES:  IT SEEMS PARLIAMENT IS DIVIDED ON THIS ISSUE TOO.

A vote rejecting the bailout program, largely funded by Greece's European counterparts, is likely to lead to Greece's exit from the euro zone which could set a dangerous precedent for the single currency area as other countries could follow suit.

Haris Theocharis, Greek member of parliament for the centrist To Potami party, told CNBC Monday that he hoped the Greek people understood what a "no" vote would mean.

A 'yes' vote is a 'yes' for the euro zone and a 'no' vote is effectively one to begin the process of leaving the euro zone and this would be a catastrophe for Greece and a shame for the rest of the euro zone…We have to fight for the 'yes' (vote), there is no doubt about that."

MY LADIES:
  POTAMI PARTY WANT TO VOTE "YES" TO STAY IN THE UNION AND ACCEPT THE BAILOUT TERMS  AND THEY ARE LESS THAN HAPPY WITH THE PRIME MINISTER

Theocharis hoped Tsipras would be "punished" by the referendum vote because he was "gambling with the fate of Greece for something that he could have resolved."

TSIPRAS IS FIGHTING BACK

In a statement, Tsipras said that the "It is clear that the objective of the Eurogroup's and ECB's decisions is to attempt to blackmail the will of the Greek people and to hinder democratic processes, namely holding the referendum. They will not succeed ."

Market turmoil

EUROPEAN MARKETS PLUNGED AND INTEREST ON GREEK DEBT ROSE

Market analysts are expecting Greece to drive volatility in financial markets this week and European markets plunged on Monday and the yield –interest rate -- on Greek debt surged too.

WE TALKED ABOUT THE GREEK BUTTERFLY YESTERDAY

Michael Hewson, chief market analyst at CMC Markets, said in a note Monday the "Greek butterfly looks set to cause a tornado in financial markets" this week.

Bandito Rox:  Factbox: Greece sets capital controls, six-day bank shutdown

Greece imposed capital controls and ordered banks to close temporarily after the European Central Bank froze a vital financial lifeline following the breakdown of bailout talks between Athens and foreign creditors.

Here are the main measures adopted by the government:

- Banks will close until to July 6. All credit institutions in Greece, including branches of foreign banks, are affected.

- The finance minister may shorten or extend the bank holiday period.

- ATMs will open from Monday afternoon. Daily cash withdrawals will be limited to 60 euros. The limit can be changed by the finance minister.

- Payments via debit or credit cards to accounts within Greece and online banking transactions within Greece will be allowed but payments and transfers to accounts outside Greece are prohibited.

- Cash withdrawals at ATMs with bank cards that have been issued by foreign banks will be allowed. Withdrawal limits may be set by the finance minister.

- All other transactions will not be permitted.

- A special committee will approve banking transactions deemed necessary to safeguard a public or social interest, including medical expenses or pharmaceutical imports.

- Pension payments will be exempt from capital controls.

- Interest surcharges on due payments will not be allowed during the bank holiday period.

- Banks breaching the rules face fines of up to 10 percent of the amount of any transaction violating the control measures.

http://www.reuters.com/article/2015/06/29/us-eurozone-greece-banks-factbox-idUSKCN0P902M20150629

**********

Bandito Rox:  (*) Euro, stocks slide on looming Greece default

The euro fell almost 2 percent and share prices tumbled across Asia on Monday as Greece looked set to default on its debt repayment this week, forcing Athens to impose capital controls to halt bank runs.

With the prospect of Greece being forced out of the euro in plain sight, the common currency fell as much as 1.9 percent to $1.0955, its lowest in almost a month, and last stood down 1.4 percent at $1.1007.

http://www.reuters.com/article/2015/06/29/us-markets-global-idUSKCN0P815D20150629

**********
PrincessDD:  China-Backed AIIB Launches — Now Comes the Tough Part
http://blogs.wsj.com/chinarealtime/2015/06/29/china-backed-aiib-launches-now-comes-the-tough-part/

MY LADIES:  BIG NEWS HAPPENED TODAY IN CHINA

The launch of a China-led infrastructure bank is a milestone in Beijing’s bid for global clout. Now comes the hard part, as the bank’s work tests Beijing’s willingness to compromise and adhere to international standards. As WSJ’s Mark Magnier reports:

On Monday, the Asian Infrastructure Investment Bank was launched with representatives from 57 countries gathered in Beijing.

The bank came together in less than two years amid strong global interest.

China was handed a propaganda coup when U.S. allies signed on despite concerns voiced by Washington early in the process that the new bank might cut corners on environmental, social and anticorruption standards.

MY LADIES:  WILL THEY BE WILLING TO FOLLOW INTERNATIONAL STANDARDS ...I GUESS WE'LL SEE.
SO THEIR INTERNAL STRUCTURE WAS FORMALLY ADOPTED TODAY AND THE BANK WILL BE OPEN FOR BUSINESS THE END OF THE YEAR.

MY LADIES:  World stock markets tumble as Greece crisis deepens

Share prices slump after Athens orders banks shut until after Sunday’s snap referendum, with stock exchange closed on Monday and ATM withdrawals limited to €60

In London the FTSE 100 tumbled by 150 points - more than 2% - when trading began at 8am BST. There were even sharper falls across Europe, with the French and German markets both tumbling by 4%. European banking shares were the hardest hit, suffering losses of up to 10%.

In the early hours of Monday morning, Tsipras published a decree in the official government gazette setting out the capital controls to be imposed on the country.

SO OBVIOUS WHAT'S HAPPENING HERE

The European commission said on Sunday for the first time in the crisis that it wanted to offer Greece debt relief, Tsipras’s central demand during the five months of stalemated talks. Reports from Berlin said that Angela Merkel and François Hollande shared that view.

AND WORRIES FROM HOME OVER THIS

But the potential concession appeared to come too late to prevent growing chaos in Greece – and sparked concerns across the Atlantic.

Barack Obama was said to have called Merkel, the German chancellor, to urge her to take action. Jack Lew, the US Treasury secretary, urged creditors to offer debt relief to Greece.

Financial analysts will be watching the impact on the markets, which have not yet had the chance to react to the events of the last 48 hours. Mario Draghi, the president of the ECB, tightened the screws somewhat on the country.

WE'LL BE WATCHING TOO, I GUESS WE ARE ABOUT TO FIND OUT IF THE BUTTERFLY FLAPS IT'S WINGS IN NEW MEXICO CAN IT CAUSE A HURRICANE IN CHINA???

Super Short MacJedi Nuggets Conference Call Notes, 29 JUNE


GOOD MORNING TNT: "T" is tired but not depressed.  All the news is good.  Greece is not directly involvedthe RV is done...  April 22 RV official date for the history books. Trying to delay the Greece thing till July 6th.  Merkel wanted something done by this morning but not yet... (Global Market) The financial sky isn't falling yet so it is a wait and see game.

IRAQ:  Ready and waiting for the Greek situation which should have a conclusion today.  Plans they are announcing for Wed and Thurs

USA:  Ready and waiting for the Greek situation which should have a conclusion today.  IMF asked for a wait and let's see what happens today.

CALLERS: 90% of the reserves will probably not happen and this is not 100%. but pay attention to this advice and have a plan -B-.
Why should we believe this will happen soon vs this is a long old haul game.  Too many outside exposures to groups who did not know or believe but there is just too much public exposure with too many people.  Too many places saying "HEY!!!  LET'S DO THIS!!!".  The 30th is the deadline day on Greece yet they are now saying the 6th but everyone else is saying NOW!.

404 the famous lady caller:  Why is the IMF reluctant to release the RV as this might possibly help out the Greece situation?  Other countries are in the same position Greece, Italy, Spain, Portugal, Ireland, and a few others on shaky ground.  If we don't know where they all stand they all could possibly be responsible for bringing down the new economy of the GCR if we don't know the entering balance and support from all involved countries as if there is a country not cooperative, they need to be removed from the new GCR support.  After the 30th the GCR will no longer wait for them.  July is seemingly an extension for Greece to vote on cooperating.  If they choose not to cooperate, Greece will find empty pockets.

MacJedi comment: This is when you will see Greece attempt to join BRICS. I have Greek friends in Greece and can tell you they have BIG egos and are a stubborn people and if they think they are right, they will not back down.

There are no meetings except the subject of Greece.  The big question?  "Greece!  What are you going to do and how is that going to affect us?"  So we wait for the Greece deadline to decide how to move forward.
Street Rates: Dinar $3.91  Dong $0.47  Zim 6 zeros removed and $0.11  Rupiah $1.05  Contract rates still alive. hopefully.

TNT :UPDATED WITH ALREADY BLESSED CHAT - THIS IS NEWS/INTEL ON GREECE LATEST EVENTS 6/27 & 6/28 AND 6/29!, 29 JUNE

    • okrocks said
      09:27 AM Jun 27, 2015
    I HAVE BEEN UPDATING BELOW....
    Eurogroup statement on Greece
    27/06/2015 17:45 Press release 532/15 Euro area
    Since the 20 February 2015 agreement of the Eurogroup on the extension of the current financial assistance arrangement, intensive negotiations have taken place between the institutions and the Greek authorities to achieve a successful conclusion of the review. Given the prolonged deadlock in negotiations and the urgency of the situation, institutions have put forward a comprehensive proposal on policy conditionality, making use of the given flexibility within the current arrangement.
        Regrettably, despite efforts at all levels and full support of the Eurogroup, this proposal has been rejected by the Greek authorities who broke off the programme negotiations late on the 26 June unilaterally. The Eurogroup recalls the significant financial transfers and support provided to Greece over the last years. The Eurogroup has been open until the very last moment to further support the Greek people through a continued growth-oriented programme.
        The Eurogroup takes note of the decision of the Greek government to put forward a proposal to call for a referendum, which is expected to take place on Sunday July 5,which is after the expiration of the programme period. 
        The current financial assistance arrangement with Greece will expire on 30 June 2015, as well as all agreements related to the current Greek programme including the transfer by euro area Member States of SMP and ANFA equivalent profits. 
        The euro area authorities stand ready to do whatever is necessary to ensure financial stability of the euro area.

    [1] Supported by all members of the Eurogroup except the Greek member.
    http://www.consilium.europa.eu/en/press/press-releases/2015/06/27-eurogroup-statement-greece/

    WHAT I HEARD SAID IN THE PRESS CONFERENCE....
    STARTED ABOUT 8:30 AM PT....
    SPEAKER: THEY MADE A STATEMENT AND IT WAS NOT AGREED BY THE GREEKS AT ALL...
    AFTER THIS WE WILL HAVE A 2ND MEETING TO PREPARE FOR WHATEVER IS NEEDED.... WE WERE SURPRISED BY THE GREEKS... TALKS LAST NIGHT ...REPS WERE CALLED OUT AND ASKED TO LEAVE WHICH BROUGHT THE TALKS TO AN END AND GREEKS REJECTED THE PROPOSALS... NO FURTHER TALKS WERE POSSIBLE...
    WE PROVIDED ALTERNATIVES TO THE GREEK AUTHORITIES AND THEY REJECTED IT AND DECIDED TO HAVE A REFERENDUM... PUTTING IT TO THE GREEK PEOPLE... SO THE PROGRAM WILL EXPIRE TUESDAY NIGHT... IT WILL EXPIRE... SO WE WILL RECONVENE AFTER THIS TO LOOK AT KEEPING THE EUROZONE STABLE & THE STEPS WE WILL NEED TO TAKE...AND IT WILL BE WITHOUT THE GREEKS PRESENT.....
    THEIR PROGRAM EXPIRES TUESDAY NIGHT AND THAT IS ABSOLUTELY CLEAR

    Eurogroup Head: Greece has Closed Door on Further Talks
    Arriving to the meeting, Eurogroup head Jeroen Dijsselbloem told reporters that he was very negatively surprised by Greek government’s decision to call a referendum adding that Athens has closed the door on future talks. In the same line, Germany’s finance minister, Wolfgang Schäuble, told reporters that Greece has decided to end negotiations. He said there are no basis for further talks with Greece.
    However, earlier on Saturday, IMF chief Christine Lagarde said that Greece’s creditors “will continue to work” on a deal to save the country, even amid a referendum.
    http://greece.greekreporter.com/2015/06/27/eurogroup-head-greece-has-closed-door-on-further-talks/

    Chris Morris ‏@BBCChrisMorris 40 minutes ago
    .@J_Dijsselbloem says you can be assured we will do whatever is necessary to strengthen the credibility of the Eurozone. Without #Greece.

    Sony Kapoor ‏@SonyKapoor 44 minutes ago
    Sony Kapoor retweeted Open Europe
    By pushing #Greece out #Eurozone might as well kiss 3.5% of GDP worth of loans goodbye not to mention more losses!

    Sony Kapoor added,
    Open Europe @OpenEurope
    #Dijsselbloem suggests he would expect #Greece to honour and repay loans even if its exits Euro

    KEEP IN MIND.... Greeks Enthusiastic About Joining BRICS New Development Bank
    Civilians of Greece want their country to become a member of the BRICS New Development Bank, a Greek lawmaker and the head of the Greek delegation to the Parliamentary Assembly of the Council of Europe told Sputnik on Thursday.
        The people of Greece are enthusiastic about the prospect of joining the BRICS New Development Bank (NDB), Dimitris Vitsas said. “It is a very interesting proposal. We are thinking about this and I think the people in Greece want Greece to be another member of the BRICS Bank. There is enthusiasm about that,” he added.
        “I think that in the right way there are friendly feelings between Greece and BRICS, and I think there will be common profit,” Dimitris Vitsas concluded. BRICS economies signed an agreement to establish the NDB in July 2014. The countries agreed to establish a $100-billion reserve currency pool to ensure the bank's financial stability.
        In May, Russia invited Greece to become a member of the NDB, created by Brazil, Russia, India, China and South Africa as an alternative to Western global financial institutions, such as the International Monetary Fund (IMF) and the World Bank. On June 19, Greek Energy Minister Panagiotis Lafazanis told Sputnik that Greece could become the first non-founder members of the NDB, joining on an equal footing as its current members, as soon as the bank was launched.
    The NDB is expected to begin operations on July 7, according to Russian Deputy Finance Minister Sergei Storchak.
    http://sputniknews.com/business/20150625/1023833030.html

    INTERESTING TIMES WE LIVE IN! wink

    imperium wrote Everyone should reserve their judgements about Greece until they do some research. Greece is NOT playing "Minnie-the-Moocher" here. Greece is an ancient and astute peoples who have been set up and "had". Their now saying, "that's all we can stanz... cause we can't stanz no more!"

    ALREADY BLESSED wrote IMPERIUM - I AGREE THAT EVERYONE NEEDS TO KNOW THE WHOLE STORY BEFORE THEY JUMP TO CONCLUSIONS.....REMEMBER THAT GREECE SIGNED AGREEMENTS IN EXCHANGE FOR THE LOANS FROM MERKEL....AND THEY DID NOT LIVE UP TO THEIR WORD AS THE OTHER COUNTRIES INVOLVED DID...ITALY ETC.
          
    ALREADY BLESSED wrote MANY OF THE YOU TUBE VIDEOS AND SO CALLED 'ARTICLES' ARE JUST SOMEONE ELSE'S OPINION!
    ALREADY BLESSED wrote REMEMBER THAT OFTEN WHAT WE ARE READING CAN BE ENTIRELY ONE SIDED ALSO
          
    ALREADY BLESSED wrote WE HAVE FOUND IN DINARLAND THAT A LOT OF THINGS MAKE SENSE WHEN YOU READ THEM AND THEN YOU FIND OUT THERE ARE OTHER THINGS YOU DIDN'T KNOW OR REMEMBER WHICH IS WHAT WE FIND THE MOST FRUSTRATING...
     
    ALREADY BLESSED wrote  OUR INFORMATION IS THAT GREECE IS DEFINITELY AFFECTING THE RV BEING RELEASED TO THE PUBLIC AS IT WOULD BE A FIASCO IF GREECE DEFAULTS AT THE SAME TIME

    ALREADY BLESSED wrote I DON'T KNOW THE PLAN FOR RV IF GREECE DEFAULTS

     ---------------------------------
     THE STAGE IS BEING SET.... QUESTION IS, WHAT STAGE IS IT? 
    FX Brokerages Move To "Close Only" Ahead Of Monday Open
    Submitted by Tyler Durden on 06/27/2015 13:19 -0400
     First at Mayzus:
        Upcoming risk - Instruments moving to 'Close Only' mode
        Due to the uncertainty surrounding the ongoing Greek debt negotiations, and ahead of a potential announcement over the weekend that could lead to high volatility on the market, please be informed that we have decided to decrease your risks by temporarily moving all Instruments to 'Close Only' mode, from 22:30 GMT+3 on Friday the 26th of June 2015, until 00:30 GMT+3 on Monday the 29th of June 2015, trading terminal time.
        Please take this information into consideration whilst making your trading decisions.
        If you have any further questions regarding this issue, then please feel free to contact your Personal Account Manager or our support department on support@mayzus.com.
    Shortly, everywhere else.

    Peter Spiegel @SpiegelPeter I'm being told #Eurogroup break will be a short one with 18 reconvening without #Greece delegation after.

    Stefan Leifert @StefanLeifert Government official: No further Euro summit planned. Decision of today's Eurogroup will be the final one. #Greece

    ----
    Ed Conway ‏@EdConwaySky 1 hour ago Very surreal atmosphere in press room here in Brussels. One journalist in tears. Most reporters shocked euro rupture is happening. #Greece

    18 Eurozone ministers without Varoufakis discuss consequences for rest of euro area.


    Peter Spiegel @SpiegelPeter
    Looks like 2nd #eurogroup meeting w/out #Greece may be breaking up. Aides to @MichelSapin say he's about to brief.
    10:25 AM - 27 Jun 2015

    Open Europe ‏@OpenEurope 16m
    Sapin: 18 countries said that #Greece is in the Euro and should stay in the Euro. That is the present situation.

    macrobrief ‏@macroandfinance 2 minutes ago
    #EUROZONE #GREECE | SAPIN: #EURO SUPPORT MECHANISMS TO BE USED TO PREVENT CONTAGION - BBG

    HERE ARE MY LADIES THOUGHTS ON THIS....
    MY LADIES:  HERE IS THE BEGINNING OF THE END.... WHAT IS GREECE SAYING HERE???
    MY LADIES:  ALL WE CAN DO IS FASTEN OUR SEATBELTS AND WATCH...BUT THIS IS THE BEGINNING OF THE SHIFT WE HAVE BEEN WAITING FOR.
    MY LADIES:   ARGENTINA?????? ARGENTINA IS ON LIFE SUPPORT… WHO'S NEXT?? PORTUGAL?? SPAIN???
    MY LADIES:  GREECE WILL COME TO THE NEW SETTLEMENT SYSTEM, THEY WILL USE THEIR OWN CURRENCY, AND THEY WILL CREATE A BANK THAT IS PLUGGED INTO BRICS
    MY LADIES:  IT'S NOT ABOUT THE MONEY, IT'S ABOUT THE TERMS AND THE LEGALITY OF THE DEBT FROM THE BEGINNING
    MY LADIES:  IN THE END THE PEOPLE OF GREECE WILL BE BETTER OFF, AND THIS IMAGE WILL REPEAT ALL ACROSS THE EURO ZONE

    MY LADIES: SO LOOK WHAT THEY'RE SAYING HERE... VERY VERY GOOD TO SEE OUR THOUGHTS IN WRITING.

    China, with $4 trillion in foreign exchange reserves, is pushing for the growth of its own multilateral bodies, including the AIIB, the BRICS Bank and a bank for the Shanghai Cooperation Organization, but also seeking to strengthen its voice at the World Bank and the International Monetary Fund.
    MY LADIES:  I THINK WE MAY HAVE UNDERESTIMATED WHERE THE COUNTRIES STAND. I THINK CHINA CAN RATIFY THE BANK IN TIME FOR THE 7TH.
    Chinese Parliament initiates process to ratify BRICS Bank The Chinese Parliament will ratify the Bank in the next step, said Chinese Vice Finance Minister Shi Yaobin in Beijing on Wednesday. India, Brazil, South Africa and Russia have already ratified the Bank.
    The BRICS New Development Bank will be launched at the first session of its Board of Governors in Moscow on 7 July, Russian officials have confirmed.
    “Our countries are very active in IMF….We work together at the IMF… Despite this active involvement in the Washington institutions, our countries have begun to realize that we need to do our own thing,” said Batista.....  http://thebricspost.com/chinese-parliament-initiates-process-to-ratify-brics-bank/#.VY6yfUbHlbg
    MY LADIES: I THINK THIS PROCESS IS FURTHER ALONG THAN WE ARE SEEING.

    MY LADIES:   YES BANKING SYSTEM FIRST. YOU MAKE SURE YOU HAVE A LIFE RAFT IN THE WATER BEFORE YOU SHOOT A HOLE ON THE BOAT RIGHT???
    SO NEW SYSTEM  IN PLACE,,, AND IT MOSTLY IS ALREADY, FOLLOWED BY THE BREAKING OF THE OLD
    I AM STILL THINKING JULY...BUT WHAT I'M SAYING IS THE CHAT TODAY IS ABOUT THE BANKING SYSTEM BEING  FURTHER ALONG THAN NOVA AND I THOUGHT
    NOT THE EXCELERATION OF THE DINAR TRADING. THAT I'M SURE WILL BE STILL BE IIN JULY SOMETIME.

    IQD NOVA:  AGREED ML!!! EVERYONE NEEDS TO HOLD ON TIGHT ITS GOING TO MOVE FAST.

    MY LADIES:  NOVA IT SEEMS LIKE NOT JUST RUSSIA BUT ALL THE OTHERS ARE ALREADY RATIFIED. CHINA WILL DO THEIRS THIS WEEK
    SO THE 7TH WILL BE MORE THAN JUST RUSSIA

    One man told me he was 170th in line. "The game is over," Peter, one of those queuing, told me. "Greece is going into uncharted waters, and the banks will be closed on Monday , I suspect."
    IQD NOVA:  NOT SINCE 1929..........

    MY LADIES:  THIS IS A REALITY NOW...I WILL TOUCH BASE TODAY WITH JP GUY AND SEE IF THERE IS ANY MORE NEWS ON EURO.. BUT MAYBE WE WILL SEE IT HERE THE MONDAY AFTER THE HOLIDAY IF IT EVEN GOES THAT LONG
    MY LADIES:  BREAKING CENTRAL BANK RULES WILL ONLY BE TOLERATED IN THE SHORT TERM... I THINK THIS IS THE BREAK IN THE SYSTEM WE WERE LOOKING FOR.
    MY LADIES:  WELL THE LIFE BOAT IS BEING LOWERED IN TO THE WATER..VERY SOON IT WILL BE SAFE TO SHOOT HOLES IN THE BOTTOM OF THE BOAT!!
    BUCKLE UP THIS WILL SPREAD FAST FAST..

    Germany has all but buried negotiations to keep Greece from default, saying a surprise decision by Greek Prime Minister Alexis Tsipras to call a referendum had left nothing to discuss but how to cope with failure . http://www.rte.ie/news/2015/0627/710991-greece-economy

    "From a currency perspective we believe this will ignite significant volatility into the euro exchange rate complex as markets hate uncertainty."

     --------------- 
    SO DO THEY PULL A RABBIT OUT OF THE HAT OR CREATE A NEW HAT???HMMMM

    EURO Ministerial statement on 27 June 2015
    27/06/2015 20:36 Press release
    Ministers from eighteen euro area Member States and the institutions held an informal meeting to discuss the forthcoming expiration of the current EFSF financial arrangement with Greece, after the break-up of the negotiations with the Greek authorities.
        The strengthening of EMU has been instrumental in helping the euro area to overcome the legacy of the financial crisis. We have notably advanced fiscal consolidation, implemented ambitious structural reforms, improved our fiscal and economic governance, deepened financial integration and established efficient firewalls. We are in a much stronger position than during the crisis. 
        Euro area Member States intend to make full use of all the instruments available to preserve the integrity and stability of the euro area. This will complement any actions the European Central Bank may take in full independence and in line with its mandate. EFSF and ESM remain the strong instruments with our full backing that they have always been.
        We commit to take all necessary measures to further improve the resilience of our economies. We stand ready to take decisive steps to strengthen the Economic and Monetary Union.
    We stress that the expiry of the EFSF financial arrangement with Greece, without immediate prospects of a follow-up arrangement, will require measures by the Greek authorities, with the technical assistance of the institutions, to safeguard the stability of the Greek financial system. The Eurogroup will monitor very closely the economic and financial situation in Greece and the Eurogroup stands ready to reconvene to take appropriate decisions where needed, in the interest of Greece as euro area member.
        We stand ready to assist and support Greece and the Greek people as required, following the expiration of the EFSF financial arrangement.  

    [The statement is adopted by ministers from the euro area Member States, except Greece]. (because they were not there)

     http://www.consilium.europa.eu/en/press/press-releases/2015/06/27-ministerial-statement/

    IMF's Lagarde: Everything depends on next few days, Greece still euro zone member

    Phillip Tutt    | Everett Rosenfeld 
    2 Hours Ago
    17 minutes agoWe just heard from the IMF's Lagarde, here's what she had to say:
    First of all would remind everyone Greece is under program until March 2016. We are discussing european program.
    Everything depends on next few days Greece still member of euro zoneWe remain willing to talk 

     Lagarde: We have tried everything we can to adjust. We have always been united with other two instutions, we aim to restore financial stability of Greece
    It is a balancing act. Everyone will be pointing fingers, process has been very frustrating, last minute documents, at times no one knew what Greek government wanted.
    Lagarde: I have been around for a long time during moments of crisis, different now than in 2012, tool box available to ECB are tools and defenses which can be put to good use so issue of contagion is different Situation entirely different - new paradigm . If we are not paid on Tuesday night there are a series of procedures I have to implement -
    We cannot disburse funds until payment made. Greece remains member of IMF.
    Lagarde: This ultimatum discussion is a bit over the top. I think there has been a lot of progress. Fiscal targets significantly reduced
    We have always advocated balanced reforms. Balanced approach needs to happen Question of debt sustainability has always been in background
    Let's hope it can be avoided (grexit)
        Talks fell apart between the Greek government and its creditors, and European officials said Athens' bailout program will expire on Tuesday.
    Euro zone finance ministers met to try and thrash out a reforms-for-rescue deal for Greece after the country's prime minister threw a curveball of a referendum on the deal late Friday night. During Saturday's meeting, the finance ministers rejected Greece's request for a one-month bailout extension.
        Greece is due to pay the International Monetary Fund 1.5 billion euros Monday and without a deal this weekend risks missing that payment.
    http://www.cnbc.com/id/102791542

    SO WE WAIT AND SEE WITHOUT CATCHING OUR HAIR ON FIRE LOL
    ---------6/28 UPDATE-----------
    Greek lawmakers on Sunday authorized Prime Minister Alexis Tsipras' proposed July 5th bailout referendum, setting Greece on course for a plebiscite that has enraged international creditors and increased Greece's chances of exiting the euro zone. .... http://t.co/wjTTCWSedx
    Greek parliament approves Tsipras' referendum proposal. Varoufakis says capital controls & bank holiday under consideration.
    Greek parliament approves referendum on bailout terms: assembly

    AFP Jun. 27, 2015, 8:13 PM 
    Athens (AFP) - A proposed referendum on the latest offer of a deal made to Greece by its EU-IMF creditors was approved by a majority in the Greek parliament late Saturday night, according to the assembly's count.
        The referendum planned for Sunday July 5 was approved by at least 179 deputies out of a total of 300 lawmakers. Verification of the vote count was underway. In a speech prior to the vote, Prime Minister Alexis Tsipras said he was confident that "the Greek people will say an emphatic no to the ultimatum" by the country's creditors.

    Greece referendum 'irrelevant after Tuesday' - says IMF's Lagarde - BBC News
    Media playback is unsupported on your device The head of the International Monetary Fund has said the Greek government's planned referendum on the terms of any new bailout plan will be invalid after Tuesday, when the current programme expires. Christine Lagarde told the BBC that people would be voting on proposals that were no longer in place.


     TODAY TWEETS/NEWS....
    Austria's Schelling says Grexit appears almost inevitable now, but first Greece would have to ask to leave EU, other countries would have to agree ~28/6/2015 09:42

    Yanis Varoufakis @yanisvaroufakis
    Capital controls within a monetary union are a contradiction in terms. The Greek government opposes the very concept.

    4:59 AM - 28 Jun 2015
    So will there be capital controls?
    Varoufakis:
        I, as minister of finance, with the Bank of Greece and European Central Bank, will work out what to be done to minimise the burden on our people from Europe’s refusal to grant us basic democratic right.
    So he’s not announcing capital controls are certainly coming (as had been rumoured earlier).

    Varoufakis also argues that it would be a fundamental breach of European democracy if the ECB decides that Greece’s banks shouldn’t be allowed to keep functioning while its Greek people have their say.
    Varoufakis also insisted that Greece needn’t be forced out of the eurozone. Indeed, there’s no mechanism to exit the single currency
    The euro was never designed to solve a problem such as Greek insolvency, and we’ve had a comedy of errors since.
    So will you repay €1.6bn the IMF?
    Varoufakis replies that Greece is due €1.9bn in profits which the ECB made on its holdings of Greek banks.
    We owe money to one part of the troika, and we are owed money by another.....
    Those profits, though, are likely to vanish from the table if the bailout expires on 30 June (based on what the Eurogroup said yesterday).

    ECB MAINTAINS EMERGENCY FUNDING BUT DOESN'T RAISE IT

    It’s official, the European Central Bank has decided to maintain the emergency liquidity support on offer to Greece, but it has also not provided any extra help.
    In a statement, the ECB says that it has decided to maintain the ELA ceiling at Friday’s limit (that’s €89bn).
        So it hasn’t pulled the plug, but it also hasn’t provided extra funding to cover the funds that have flowed out of Greek banks this weekend.
    For weeks, the ECB has been agreeing to requests from Greece for extra emergency liquidity, often providing a billions euros or more each week.
        So if there’s no extra ELA, that is going to make it harder for banks to handle withdrawals, if people keep taking money out. 
    Here’s the full statement:
        The Governing Council of the European Central Bank today welcomed the commitment by ministers from euro area Member States to take all necessary measures to further improve the resilience of euro area economies and to stand ready to take decisive steps to strengthen Economic and Monetary Union.
        Following the decision by the Greek authorities to hold a referendum and the non-prolongation of the EU adjustment programme for Greece, the Governing Council declared it will work closely with the Bank of Greece to maintain financial stability.
        Given the current circumstances, the Governing Council decided to maintain the ceiling to the provision of emergency liquidity assistance (ELA) to Greek banks at the level decided on Friday (26 June 2015).
    The Governing Council stands ready to reconsider its decision.
    http://www.theguardian.com/business/live/2015/jun/28/greek-crisis-ecb-emergency-liquidity-referendum-bailout-live#block-558fdd2de4b0c9bda8d8aaa3

    Mario Draghi, ECB President, said:
        “We continue to work closely with the Bank of Greece and we strongly endorse the commitment of Member States in pledging to take action to address the fragilities of euro area economies.”

    Yannis Stournaras, Governor of the Bank of Greece, said:
        “The Bank of Greece, as a member of the Eurosystem, will take all measures necessary to ensure financial stability for Greek citizens in these difficult circumstances.”
    The Governing Council is closely monitoring the situation in financial markets and the potential implications for the monetary policy stance and for the balance of risks to price stability in the euro area. The Governing Council is determined to use all the instruments available within its mandate.

    MORE.....
    AHA, THE NEGOTIATIONS CONTINUE....

    Peter Spiegel ‏@SpiegelPeter 52 minutes ago
    New creditors' offer would have acceded to #Greece demand hotels go in lower 13% VAT bracket http://europa.eu/rapid/press-release_IP-15-5270_en.htm … 

    Viktoria Dendrinou ‏@v_dendrinou 47 minutes ago
    European Commission publishes latest proposal to #Greece -different version to the one Greeks will vote on next week 

    Peter Spiegel ‏@SpiegelPeter 39 minutes ago Other than VAT concession (moving hotels from 23% rate to 13%) I don't see big changes in creditors new #Greece offerhttp://europa.eu/rapid/press-release_IP-15-5270_en.htm …

    Dio Perix ‏@DioPerix 4 minutes ago
    #Greece holding #Crisis meet as #BankRun looms - ekathimerini - http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_28/06/2015_551619 … #Economy #Banks #SYRIZA #GREXIT

    Andrej Matisak ‏@matisaksk 6 minutes ago
    #Merkel to Hold #Greece Crisis Talks With German Political Leaders http://bloom.bg/1GFqngr  via @business #Germany #politics #Grexit

    Andrei Popa ‏@AndreiPopa 9 minutes ago
    Yanis Varoufakis - Greece’s Proposals to End the Crisis: My intervention at today’s Eurogroup

    http://yanisvaroufakis.eu/2015/06/18/greeces-proposals-to-end-the-crisis-my-intervention-at-todays-eurogroup/ … #Greece #Varoufakis #eu

    AND ON A SIDE NOTE... IRAN...
    6 nations negotiating nuclear agreement with Iran plan to continue talks past Tuesday deadline, says senior US official - @Reuters

    On Iranian Foreign Minister Mohammad Javad Zarif's return to Iran amid nuclear talks, US official says it was expected ministers would come and go as negotiations heat up - @Reuters

    Nuclear talks in Vienna Sunday; sides have said Tuesday's deadline for a final deal is firm, but that there is the option to extend by a few days - @JohnKerry

    --- RUNDOWN TODAY 6/29---------
    Greece imposes capital controls, banks to remain closed until July 6.

    Alexis Tsipras @tsipras_eu
    My statement on the latest developments. #Greece (Video in Greek with English subtitles) https://goo.gl/6DqEGe


    #Greece lines are now being described as "unending" outside ATMs; islands especially bad where cash transactions trump credit cards

    Spotlight on Greece’s Gold Reserves and Grexit
    https://www.bullionstar.com/blogs/ronan-manly/tag/greece/

    (this was our last night)
    David Ingles ‏@DavidInglesTV  A lot of people are going to lose a lot of money today...
    STOCK FUTURES..
    Dow -271 pts
    S&P 500 -35
    FTSE China A50 -185
    Nikkei -500
    #GREECE

    Financial stocks declined the most since 2011 on Monday, losing more than $40 billion in market value. The seven-biggest banks on the U.K.’s FTSE 350 index fell 1.7 percent at 10:53 a.m. in London, with HSBC posting a 1.8 percent loss. Earlier in Asia the bank fell the most in eight weeks. The Stoxx 600 Banks Index dropped as much as 4.4 percent, lead by declines for financial firms in Italy, Portugal and Spain.

    http://www.cnbc.com/id/102794577 Global markets slide on Greek crisis fears


     RECENT NEWS

    1. Merkel stresses Europe΄s need for ΄compromise΄ but also principles
    2. Moscovici says there is still room for compromise with Greece
    3. ECB faces tough choice on cash lifeline for Greece
    4. Greek crisis pushes oil below $62 to three-week low
    5. Russia says concerned about consequences for EU from Greek crisis
    6. HSBC monitors Greece as $6 billion exposure Europe’s largest


    Today    
    1. Greek government says no limit on bank withdrawals for foreign tourists
    2. Banks to announce which branches will open only for pensioners on Monday
    3. Cautious Merkel on verge of biggest risk with 'Grexit'
    4. France says Greek referendum 'sovereign choice' on euro place
    5. Euro falling on Greece sends volatility climbing most since 2008
    6. Asia markets hit by Greece fears, Shanghai volatile

    http://www.ekathimerini.com

    The head of the European Commission will make his latest proposals later on Monday to try to solve the crisis in Greece, the EU commissioner of economic affairs said, adding that Athens was 'centimetres' away from a deal when discussions broke down over the weekend.
        Jean-Claude Juncker "will indicate the route to follow, I hope everyone will commit themselves to a way of compromise," Pierre Moscovici told French radio, adding there was still "room for negotiation" between Athens and its international creditors.
    Athens was "a few centimetres" away from a deal when talks broke down over the weekend, Moscovici said.
    "We must continue to talk," Moscovici said, adding that "the door is always open to negotiations."
    French Finance Minister Michel Sapin meanwhile said that negotiations "could re-start at any moment."
    In a tweet, Moscovici clarified that the proposals by Juncker would not be a new offer in the broken-off bailout talks between Greece and its creditors.
    "Latest proposals from the EU commission are known and public," he said.
    http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_29/06/2015_551670

    RT ‏@RT_com ‘#Greece will collapse this week and people will be terrified’ – Jim Rogers
     https://youtu.be/MLgewF12-bI

    Nick Malkoutzis ‏@NickMalkoutzis 7 hours ago
    Some pensioners gathering outside closed banks. Many don't have/use cash cards. Plan for some bank branches to open just for them #Greece


    #Bitcoin up 5% as markets are rattled by #Greece 


    Usum ‏@usumtwit 12 minutes ago
    What a Grexit means for you: What’s happening in #Greece – and how does it affect Britons as… http://goo.gl/fb/VJn0BJ


    Portugal, Spain, Italy bonds fall sharply on #Greece contagion fears

    The EIU Europe ‏@TheEIU_Europe
    We have also revised up to 60% (from 40%) our assessment of the risk of #Greece leaving the euro zone in the short term.

    Peter Spiegel ‏@SpiegelPeter 6 hours ago
    .@JJarvung July 20 is when #Greece must repay €3.5bn bond to @ecb. If they default on that, ECB cuts ELA & banks can only reopen w/drachma


    Peter Spiegel ‏@SpiegelPeter 1 hour ago
    #EU off'l makes clear @JunckerEU offer to discuss debt relief was as part of negotiating a 3rd bailout. So position hasn't changed #Greece

    White Wednesday ‏@WhiteWednesday 5 minutes ago
    The bell is tolling for Greece – and the EU too http://www.cityam.com/218971/grexit-bell-tolling-greece-it-s-tolling-europe-now-too … via @CityAM #Greece

    mailforlen ‏@mailforlen 6 minutes ago
    #bloomberg Frm IMF deputy exe director says that tomorrow Greece banks are bankrupt tomorrow and could NOT open NEXT week if ever #greece

    Holger Zschaepitz ‏@Schuldensuehner 11 minutes ago
    #Greece makes (one) payment: Has transferred €50,000 in fees due to EFSF on schedule on Monday, @handelsblatt reports. (via Citi)

    Oren Dorell ‏@OrenDorell 5 minutes ago
    Not just #Greece or #Ukraine. #PuertoRico also threatens to default. Where is this headed? 

    (DO not fear, we are witnessing the end on one and the beginning of the new one)

    Bloomberg Business @business
    "The debt is not payable," Puerto Rico's governor says as deadlines loom 
    http://bloom.bg/1NrYJsd

    http://www.cnbc.com/id/102794600Puerto Rico’s governor says island’s debts are ‘not payable’
    "The debt is not payable," Mr. García Padilla said. "There is no other option. I would love to have an easier option. This is not politics, this is math."

    I BELIEVE WE ARE WITNESSING THE CROSS OVER INTO THE NEW... DO NOT FEAR THIS PLEASE
    None of us have their play book ... we always wondered what "IT" would look like...