Looks like more Euro Currency problems.

[SteveB]

The European Central Bank is expected to end emergency lending to Greece's banks.
Greece will announce a bank holiday on Monday to avoid a run on their banks.
Unless there is a major change in Greece’s attitude to negotiations, a Greek exit from the euro now is inevitable.

The effect of a Greek exit from the euro can only be guessed, but it will not be good.

[Theomegaman]

The effect this will have on Europe as a whole will be very negative. It will make the creditors re think how to deal with the debts that Ireland has and that maybe more stricter controls are needed. It is for sure that Europe will take a long time to recover. The Euro will be badly effected which will have huge effects here if in fact it survives as a currency. The big problem for us is Sterling and how strong that gets.But for the UK its not good either too strong and nobody will buy. It is very much uncharted waters ahead now but unfortunately it means huge changes to our independence here in Ireland with our financial decisions. The ECB will need to get confidence back in the international markets now and show it is in control. I don't think the Governments attitude here of a minimum effect is really the right thing to say any sane economist will tell you differently. Every country will have to pick up the tab for Greece in Europe as was said this morning we will have to pay our bit.
But also the people in Greece have had enough and you can't get blood from a stone Europe brought Greece in it has a responsibility to help it. But the reality is Europe can't afford it and we will all pay the price for that. As it stands its not over yet they might get the deal.
But also make hay while the sun shines it may be a different story soon.

[Westsidex]

but it will not be good.

Says who? The cowardly sheep of Ireland. The very same gobshites that created the mess by voting in referendum after referendum? The sooner the euro falls the better and kudos to the Greek gov for at least standing up for their own people instead of Germans.

Westside.

[sharkskin]

What about the dirty little secret that everyone is ignoring?

Who stands to benefit the most from Greece exiting the Euro?

Every country in the Euro that exports goods and services out of the Eurozone.

The Euro is already down a couple of percent and will likely dip further. In boardrooms in Munich, Stuttgart and Wolfsburg, hands are being rubbed with glee at the thought of the extra money to be made on sales of prestige cars to China, the US and others.

German car makers are not alone in benefitting from this. French and Italian wine and food exports. Small manufacturing companies all over the zone, Airbus, Siemens, Alcatel etc all stand to gain and when they do, there will be jobs.

Ireland is not going to miss out either. Food exports to the UK will be top of the list but there is another important export sector that is easy to overlook.

All those folks in Dublin's flash offices with names like Google on them. Sure, those guys are attracted by the low company taxes but that is not all.

They have thousands of staff working on global projects. Those jobs could be done anywhere in the world and the companies involved know it. Every quarter they check what they are paying for web developers, software engineers, support staff etc. Ireland is compared to the US, China, India, etc and when the Euro weakens that means more of those jobs will come to Ireland.

I do not think that the coming Euro turmoil is all doom and gloom.

[Zealot7]

http://www.zerohedge.com/news/2015-0...-official-says

Greece to Default Tomorrow - Government Official Or is that restructure? re-profile? or go into "Arrears". We've been here before.

I just wish they would outright default, so the whole system gets the massive implosion that's long overdue.