Saturday, June 13, 2015

Saturday roundup (06-13-15)

Tsipras seeks debt relief as Greeks take offer to Brussels (Reuters)

Greek banks are on their last legs. Grexit beckons: There are no good outcomes for Greece, but exiting the euro looks like the least worst option (The Telegraph)

Fears of Greece eurozone exit mount as EU deadline looms: Greek finance minister says he does not believe Europe would let his country leave the eurozone, but decision on its fate is expected by Thursday (The Guardian)

Endgame looms for Greek crisis as both sides take debt negotiations to the brink: Premier Alexis Tsipras will come to a fork in the road on Thursday, but whether or not a deal is made, the future for his country is bleak (The Observer)

Iceland is out of the woods but the [world's] financial system is still dangerous, says PM: The country is starting to lift the crisis-era capital controls that have been in place since 2008 (The Telegraph)

Is Deutsche Bank The Next Lehman? (ZeroHedge blog)

[US Presidential Candidate] Hillary Clinton unleashes attack on Wall Street (CNNMoney) Hillary Clinton: ‘You brought our country back. Now it’s time — your time.’ (The Washington Post blogs)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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