EURO HUMILIATION: Germany ‘freaked out’ as Greece ‘could ditch EU currency for US DOLLAR’
GREECE could be poised to humiliate Brussels by ditching the euro and instead choosing to be tied to the US dollar, Donald Trump’s reported pick as EU ambassador has sensationally claimed.
By NICK GUTTERIDGE IN BRUSSELS
PUBLISHED: 07:15, Tue, Feb 14, 2017 | UPDATED: 08:04, Tue, Feb 14, 2017
Professor Ted Malloch revealed that senior Greek economists have enquired about the possibility of adopting the greenback if the country crashes out of the single currency.
He asserted that Athens is so desperate it is prepared to tie itself to the dollar on the same terms as the likes of Puerto Rico if it means being able to quit the eurozone.
Jeff Cox | @JeffCoxCNBCcom
McDonald on Deutsche Bank: Similar dynamic to Lehman 6 Hours Ago | 02:19
German officials could be about to find themselves in an uncomfortable position: Being called on to show they’re ready to rescue a bank in a part of the world where such operations are considered taboo.
Deutsche Bank came under intensified market fire Thursday, the latest salvo being a Bloomberg report that a small number of hedge funds are trimming their sails at the German bank.
In a broad perspective, the move would represent a minor dent in Deutsche’s derivatives clearing business. Barry Bausano, chairman of Deutsche’s hedge fund business, told CNBC on Thursday that while there have been some outflows, there have also been inflows, which he said is “part of the typical ebbs and flows” of the prime brokerage business.
Atlantic City breathed a sigh of relief last month when Governor Christie signed a badly needed and long-delayed financial rescue package for the resort town. Salvador Rizzo, The Record Read more
After months of delays and mutual recrimination between the city and state, the state Assembly and Senate approved an amended Atlantic City rescue package Thursday. The successful bill would give the city 150 days to balance its nearly $100 million budget shortfall for 2017, then hold it accountable for doing the same over a period of five years in order to avoid a state takeover of its finances. JT Aregood, PolitickerNJRead more