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Hi frds
Friday 31st Oct , coming in from a night when Greece was rumored to be
devalued, i had to pay 200% interest rate to cover account...
Bank of Greece Repo for 3 days was given at 150% ......
Month Greece is quoted around 50/70% rate...
Even if it could get bad with Turkey, do not mess with Drachma,
frds.... it's a dangeruos way to trade....
We think that diplomacy will work, given also that EMU awaits Greece
in 3/5 years, and greek bonds should get to 5% or about there, but now
there is a big tension, better be off....
In case, buying drachmas outright to collect premium is very
attractive for those who think it will all go well, u can obtain a 35%
rate differential ag USD or DEM, it's a 3% a month gain.... seems easy
money, but what if they get in War with Turkey ??????
as i told, better be watching......
Ciao!
/\/\arco
www.shiny.it/~spot
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