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How Long Before The Eurozone Debt Crisis Catastrophic Avalanche Occurs?

Stock-Markets / Global Debt Crisis Oct 09, 2011 - 09:24 AM GMT

By: DK_Matai

Stock-Markets

1. Time left is limited now, as a number of well placed sources envisage weeks � not months � before the Eurozone crisis deteriorates into a catastrophic avalanche;

2. October 8th is the date the Greeks were expecting to receive 8bn Euros from the IMF-EU-ECB troika to enable payments of wages to public sector workers by mid-October and to maintain public services. This payment has been postponed as the conditions for the bailout and the total sum involved are being recalculated by the troika;


3. Inevitable Greek chaos � unleashed by the lack of liquid funds � may cause confidence to plummet as Greece�s imminent default further damages Tier-1 capital of a number of major Eurozone banks;

4. The first banking casualty of the Eurozone financial crisis has already occurred in Dexia with adverse consequences for the credit rating of Belgium. Credit rating downgrades of Italy and Spain announced before the weekend are likely to exacerbate further the Tier-1 capital ratios and balance sheets of many European financial institutions;

5. As banks get buried under the Eurozone avalanche, they will inevitably require national assistance. This will lead to additional downgrades of the credit rating of many sovereigns with unintended consequences spawning multiple black swans with myriad unknown unknowns;

6. As other banks across Europe and different parts of the world wobble in intricate counterparty chain reactions many may seek national support, but not all nations will have sufficient funds to recapitalise their banks;

7. The idea of a single co-ordinated pan-European recapitalisation programme for banks is likely to be rendered obsolete by the domestic considerations of the major Eurozone powers. They are not keen to share the intimate details � including weaknesses and vulnerabilities � of their own banking system with other sovereigns;

8. Non-eurozone western European countries like the United Kingdom, Switzerland and Sweden as well as eastern European countries may also suffer substantially from the fallout of the Eurozone avalanche including domestic banking crises and loss of export orders. North and South America as well as Asia could also be substantially affected by the Eurozone crisis;

9. For businesses, risk mitigation may lie in having multiple credit lines and banking relationships across non-Eurozone entities, reducing loan exposures, and recapitalising loans across different sources swiftly;

10. As the business liquidity crisis worsens, the lack of oxygen beneath the Eurozone avalanche may disrupt normal business life in the coming months, quarters and years;

11. Counterparty risk and credit risk is likely to multiply exponentially, damaging the capacity to do business-as-usual, as financial markets deteriorate and continue to demonstrate extreme volatility; and

12. The Great Crash of 1929, Black Monday in 1987 and The Panic of 2008 all took place in October. Is the Eurozone avalanche likely to occur in October as well?

....

Before we proceed to publish the agenda for the ATCA 5000 event on 12th October, do you have any thoughts, observation and views that we ought to take into account?

We are celebrating ten successful years since the formation of ATCA 5000 in October 2001. The next private event will be held on 12th October between 6:00pm and 8:00pm at an exclusive �members only� private club in Canary Wharf, London. We will most probably repeat the ATCA 5000 event at the same time on 19th October.

Should you wish to participate, we are grateful to you for your response to the intelligence.unit@mi2g.com in regard to 12th October or 19th October. Thank you.

What are your thoughts, observations and views? We are hosting an Expert roundtable on this issue at ATCA 24/7 on Yammer.

By DK Matai

www.mi2g.net

Asymmetric Threats Contingency Alliance (ATCA) & The Philanthropia

We welcome your participation in this Socratic dialogue. Please access by clicking here.

ATCA: The Asymmetric Threats Contingency Alliance is a philanthropic expert initiative founded in 2001 to resolve complex global challenges through collective Socratic dialogue and joint executive action to build a wisdom based global economy. Adhering to the doctrine of non-violence, ATCA addresses asymmetric threats and social opportunities arising from climate chaos and the environment; radical poverty and microfinance; geo-politics and energy; organised crime & extremism; advanced technologies -- bio, info, nano, robo & AI; demographic skews and resource shortages; pandemics; financial systems and systemic risk; as well as transhumanism and ethics. Present membership of ATCA is by invitation only and has over 5,000 distinguished members from over 120 countries: including 1,000 Parliamentarians; 1,500 Chairmen and CEOs of corporations; 1,000 Heads of NGOs; 750 Directors at Academic Centres of Excellence; 500 Inventors and Original thinkers; as well as 250 Editors-in-Chief of major media.

The Philanthropia, founded in 2005, brings together over 1,000 leading individual and private philanthropists, family offices, foundations, private banks, non-governmental organisations and specialist advisors to address complex global challenges such as countering climate chaos, reducing radical poverty and developing global leadership for the younger generation through the appliance of science and technology, leveraging acumen and finance, as well as encouraging collaboration with a strong commitment to ethics. Philanthropia emphasises multi-faith spiritual values: introspection, healthy living and ecology. Philanthropia Targets: Countering climate chaos and carbon neutrality; Eliminating radical poverty -- through micro-credit schemes, empowerment of women and more responsible capitalism; Leadership for the Younger Generation; and Corporate and social responsibility.

© 2011 Copyright DK Matai - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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