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Thread: Russia invites Greece to join BRICS bank

  1. #1

    Default Russia invites Greece to join BRICS bank

    Not sure how much confidence I put in RT as a reliable source.


    Russia invites Greece to join BRICS bank
    http://rt.com/business/257701-greece...cs-invitation/


    http://www.ibtimes.co.uk/russia-invi...t-bank-1500901

    Any confirmation or other info on this and what implications might be?




    IceAged
    Last edited by IceAged; 05-12-2015 at 08:15 PM.
    Disclaimer: DYODD (Do your own due diligence). Any information in these posts are my own personal opinions and not investment advice

    ------------------------------------------------------------------------------

    There's always an Arquillian Battle Cruiser, or a Corillian Death Ray, or an intergalactic plague that is about to wipe out all life on this miserable little planet, and the only way these people can get on with their happy lives is that they DO NOT KNOW ABOUT IT! - "K"

  2. #2

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    So Greece will jump out of the frying pan directly into the fire...
    Meet the new boss...same as the old boss
    Boss' title?
    Banker
    GL Greece

  3. #3

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    Quote Originally Posted by Chump Change View Post
    So Greece will jump out of the frying pan directly into the fire...
    Meet the new boss...same as the old boss
    Boss' title?
    Banker
    GL Greece
    I was thinking simialar

    Either IMF bails them out and 'owns' Greece

    Or

    BRICS development bank bails them out and 'owns' Greece

    Or

    Other Bails them out and 'owns' Greece

    Or they simply default.


    Look's like they made a payment, but I am guessing like with credit cards this was the minimum payment
    http://www.wsj.com/articles/greece-c...ent-1431423100


    IceAged
    Last edited by IceAged; 05-12-2015 at 08:19 PM.
    Disclaimer: DYODD (Do your own due diligence). Any information in these posts are my own personal opinions and not investment advice

    ------------------------------------------------------------------------------

    There's always an Arquillian Battle Cruiser, or a Corillian Death Ray, or an intergalactic plague that is about to wipe out all life on this miserable little planet, and the only way these people can get on with their happy lives is that they DO NOT KNOW ABOUT IT! - "K"

  4. #4

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    I doubt Russia cleared that decision with the rest of the BRICS.

    Countries in the BRICS put up tens of billions of dollars each to buy a share in the bank.

    What is Greece going to put up?

    The report makes no sense.

    Perhaps what was meant was that Greece can apply for loans from the BRICS bank.

    But you can be sure the loans would have to come with the requirement that Greece put up collateral in exchange for the loan.

  5. #5

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    Quote Originally Posted by Silvercoin View Post
    I doubt Russia cleared that decision with the rest of the BRICS.

    Countries in the BRICS put up tens of billions of dollars each to buy a share in the bank.

    What is Greece going to put up?


    The report makes no sense.

    Perhaps what was meant was that Greece can apply for loans from the BRICS bank.

    But you can be sure the loans would have to come with the requirement that Greece put up collateral in exchange for the loan.
    i guess greece will bankrupt, say thanks to Europe for having been so kind to have given them 650 billion euros and then start a new life with a clean slate.
    Debtless they could agree to use the ruble as money and that's it.
    Would be a great move, a ramrod in the a$$ of the european worthless " elite".

    Golditiki2 +++

  6. #6

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    Quote Originally Posted by Silvercoin View Post
    I doubt Russia cleared that decision with the rest of the BRICS.

    Countries in the BRICS put up tens of billions of dollars each to buy a share in the bank.

    What is Greece going to put up?

    The report makes no sense.

    Perhaps what was meant was that Greece can apply for loans from the BRICS bank.

    But you can be sure the loans would have to come with the requirement that Greece put up collateral in exchange for the loan.
    %100 agree

    It's not like Putin woke up yesterday morning and said "Hmmm, Maybe I'll invite Greece to join the BRICS development bank'

    This looks like a show, for what purpose I have no Idea.

    IceAged
    Disclaimer: DYODD (Do your own due diligence). Any information in these posts are my own personal opinions and not investment advice

    ------------------------------------------------------------------------------

    There's always an Arquillian Battle Cruiser, or a Corillian Death Ray, or an intergalactic plague that is about to wipe out all life on this miserable little planet, and the only way these people can get on with their happy lives is that they DO NOT KNOW ABOUT IT! - "K"

  7. #7

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    Russia needs Greece for the New Blue stream Turkey/Russia pipeline deal. China wants the Port of Piraeus. AIIB can help with financing these ventures if needed. There is tremendous opportunity for Greece to open up trade away from EU sanctions to create revenue of course at a cost but may be the better than other options. Strategically for NATO or Russia Greece holds extreme importance on EU doorstep. Russia rescinded food import sanctions from Greece Hungary and Cypress for condemning the EU sanctions against Russia.
    Greece is of pivotal importance for Brussels but could lose its grip.

  8. #8

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    Greek news outlet, Capital.gr, reported that the very same day Miller’s Turkey Gazprom deal was finalized, Putin had an apparently very cordial phone chat with Greek Prime Minister, Alexis Tsipras. After the talk, Putin’s office released a statement that Putin had told Tsipras that Russia would be willing to extend money to Greece in return for Greek participation in the Turkish Stream project into the EU. The Kremlin statement said, “In that context, the Russian side confirmed its willingness to consider the issue of extending financing to state and private companies that will cooperate in the project.”

    In Tsipras’ April 8 meeting with Putin Russia denied it had made a deal on energy; that all changed on May 7 after Turkey finalized Turkish Stream

    After Tsipras’ talks with Putin in Moscow on April 8, the Kremlin spokesman, Dmitry Peskov, issued a denial of Der Spiegel reports that the two had come to an agreement in which Moscow would advance the cash-desperate Greek government with an immediate €5 billion cash advance from Russia based on expected future profits linked to the pipeline. The Greek energy minister said at the time that Athens would repay Moscow after 2019, when the pipeline is expected to start operating.

    That was on April 8. Flash forward to May 7 and the finalization of the Russia-Turkish Stream deal, and it seems now that there is also a Russia-Greece deal to advance Athens the sizeable cash sum, just before Athens must come up with large sums to repay IMF and EU loans in order to get more senseless EU and ECB “support.” The difference was clearly the finalization of the Turkish Stream. Now EU bureaucrats in Brussels have new gas pains as Putin puts a Greek cherry atop Moscow’s Turkish geopolitical deal on gas.
    First appeared: http://journal-neo.org/2015/05/20/ru...greek-sirtaki/

  9. #9

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    http://thebricspost.com/putin-greek-.../#.VXO4B-e4Dy8
    After Greece delayed a key debt payment to the IMF due on Friday, Russian President Vladimir Putin held a phone conversation with Greek Prime Minister Alexis Tsipras where the two sides discussed the building of infrastructure for gas transport.

    “The two leaders discussed practical steps to implement the agreements reached during Mr Tsipras’ recent working visit to Russia, in particular, the planned construction of gas transport infrastructure through Turkish and Greek territory,” said a Kremlin statement on Friday.

    The Greek leader will meet Putin at the St Petersburg International Economic Forum, which will take place on June 18–20.

    Greece plans to sign a document on political support for Gazprom’s Turkish Stream project at the St. Petersburg International Economic Forum in June, Greek Energy Minister Panagiotis Lafazanis announced earlier this week. The country plans to invest $2 billion in its construction.

  10. #10

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    Quote Originally Posted by IceAged View Post
    Russia invites Greece to join BRICS bank
    That's like inviting a homeless guy in to your home to help pay the rent. Good luck!

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