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Old 15.05.2012, 19:19
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Possible consequences on the CHF of a Greek debt default

I get the impression there are a few Gnomes out there..... what's the likely consequence on the CHF staying pegged to the EUR if the Greeks run off shouting "Stuff your Euro and you can forget about all that money you lent us." ?
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Old 15.05.2012, 19:23
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Re: Possible consequences on the CHF of a Greek debt default

Think the SNB will keep it pegged to the EUR, but you can be sure the rich Greeks will stick more money in their Swiss bank accounts.
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Old 15.05.2012, 19:43
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Re: Possible consequences on the CHF of a Greek debt default

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... but you can be sure the rich Greeks will stick more money in their Swiss bank accounts.
And as a consequence... in ours too!!!
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Old 15.05.2012, 19:47
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Re: Possible consequences on the CHF of a Greek debt default

I fear when the sh*t hits the fan, which it will sooner or later, the SNB will no longer be able to hold the 1.20 floor and the CHF will hit the sky...
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Old 15.05.2012, 19:59
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Re: Possible consequences on the CHF of a Greek debt default

Watch out for all the rich French - heading to Geneva right now. That will help with the housing shortage hmmm - (and money talks - will be interesting to see the ex-pats with huge salaries and re-location packages complain about the rich French nabbing all the best flats and houses LOL)

Last edited by Odile; 15.05.2012 at 20:23.
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Old 15.05.2012, 20:21
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Re: Possible consequences on the CHF of a Greek debt default

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I get the impression there are a few Gnomes out there..... what's the likely consequence on the CHF staying pegged to the EUR if the Greeks run off shouting "Stuff your Euro and you can forget about all that money you lent us." ?
The purpose of pegging the Franc to the Euro is to support trade with the Euro zone, that objective will remain even if the Greeks were to leave the Euro zone. However the rate may vary from time to time depending on the fortunes of the Euro.
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Old 15.05.2012, 20:24
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Re: Possible consequences on the CHF of a Greek debt default

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Watch out for all the rich French - heading to Geneva right now. That will help with the housing shortage too - (and money talks - will be interesting to see the ex-pats with huge salaries and re-location packages complain about the rich French, LOL).
Agree about this - their new socialist president looks to spend his way out of recession, as all socialists are prone to do. And as always on non revenue services (ie the public sector). So yeah - watch for exodus of those rich enough to be financially mobile, as they escape the (perceived) slow self destruct.
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Old 15.05.2012, 21:23
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Re: Possible consequences on the CHF of a Greek debt default

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Watch out for all the rich French - heading to Geneva right now. That will help with the housing shortage hmmm - (and money talks - will be interesting to see the ex-pats with huge salaries and re-location packages complain about the rich French nabbing all the best flats and houses LOL)
This is more myth than reality. According to specialised lawyers, expatriation pays only off for french citizens moving to GE/VD if they own over 10M Eur. Don't think these tax evaders will be competing with the average flat buyer...

and BTW definitively there is no shortage whatsoever for properties above 2M chf in say la Cote (rather lots of sellers hoping for making money, but few buyers, so these properties stay on sale for months!)
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Old 15.05.2012, 21:35
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Re: Possible consequences on the CHF of a Greek debt default

Never underestimate the power of an electronic printing press in the hands
of a determined central banker.

The question really should be: just how determined is Thomas Jordan?

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I fear when the sh*t hits the fan, which it will sooner or later, the SNB will no longer be able to hold the 1.20 floor and the CHF will hit the sky...
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Old 15.05.2012, 21:47
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Re: Possible consequences on the CHF of a Greek debt default

Watching Hollande & Merkel on TV talking about Greece.
What a load of BS comes from the French. As usual: vaporous language, wandering ideas, convoluted expression.
Germany is alone and it wont be capable of taking the load of shit that is laying and maturing there in the South. France is the next huge liability.
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Old 15.05.2012, 22:23
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Re: Possible consequences on the CHF of a Greek debt default

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The purpose of pegging the Franc to the Euro is to support trade with the Euro zone, that objective will remain even if the Greeks were to leave the Euro zone. However the rate may vary from time to time depending on the fortunes of the Euro.
The real problem would be when the Germans, not the Greek, leave the Eurozone.
I suppose that under scenario, the peg will be with the DM.
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Old 15.05.2012, 22:32
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Re: Possible consequences on the CHF of a Greek debt default

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I suppose that under scenario, the peg will be with the DM.
What's Danger Mouse got to do with this?
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