– “The Collateral Has Run Out” – JPM Warns ECB Will Use Greek “Nuclear Option” If No Monday Deal (ZeroHedge, June 20, 2015)
“If no agreement is reached on Monday, then the ECB will have little reason to show further flexibility and it will likely freeze its ELA limit on Greek banks. As a result capital controls will become almost inevitable after Monday.”
…
Reading through this article, it misses a very relevant section……Germany and France are holding huge financial exposure to Greek debt, both direct and indirect…..and so are Italy and Spain regardless both nations have been on the list for sure death………These four nations will be gravely hurt when the game implodes……And QE cannot be used forever, regardless of the greedy gut bankers……..the money will lose all its value.
History bears me out, and why world leaders are allowing this is beyond me…..I guess they fear they have no other choice…………….