“Greek residents have withdrawn over €700M from banks since the May election, and a bank run won’t wait until the June election. Logic would therefore dictate that Greek politicians need to become more centrist in their thinking before the situation deteriorates further,” S&P said.
“Yet the inability of equities to mount more than an intraday counter-trend rally, combined with the ongoing decline of oil prices, the seemingly endless surge in Treasuries, and the continual collapse in gold as investors seek the liquidity of cash, speak, we think, to the massive risk should the contagion spread,” the committee noted.
PowerShares DB US Dollar Index Bullish
