OANDA FxTrade shutting down Euro trading during Greek Election...
Also in same article ..Preparing for Chaos in Europe
Posted by Wealth Wire - Friday, June 15th, 2012
Ahead of Greek elections on June 17, at least one trading house is shutting down completely for the day. OANDA fxTrade announced the following:
"Due to the extreme volatility some market analysts foresee could result in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EDT until approximately 3:00 PM EDT, on Sunday, June 17, 2012. OANDA believes the convergence of a major market event during off-market hours represents a potential trading risk and has taken this rare step to protect traders from excessive rate fluctuations."
A lot of this may be squelched after the Greek elections on June 17th, however. It appears there is no strong commitment from any of the leading parties to default on the debt and leave the euro. Instead, it will likely lead to some sort of bailout. That is almost always the way politicians choose when confronted with the following two choices:
According to the Irish Times:
"European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro."
The ATM withdrawal limits is already a fait accompli in the South and the government is already showing what it is willing do to innocent people caught up in the web of another state caused chaotic collapse...limiting the flow of both capital and people.
They talk about 48 hour notice to withdraw 1,500 cash. Tough times are looking ahead.
They may dodge this bullet but the bloated beast can't keep doing this forever....
He's not foreordained to.