Downhill Skiing, page-35

Indeed, check insolvency fears of several Portugal banks yesterday before open.
Italian banks loosing massive amounts of their deposits since Greek referendum has been called out by their PM.


Contagion fears is the real issue momentarily and the EU will be working hard, or in fact has been for months , to contain such or the outlook of it.

European banks have increased capital since 2011 to better withstand such bank runs and therefore are in a much better position to wheather the storm. As long as QE is in place one would guess that preparations are made accordingly.
Needless to say though that risk appetite is rock bottom now.


What has that to do with OBJ?
Nothing in regards to the business model but everything with the fact that OBJ has no revenue to speak of and therefore qualifies as a speccie.
Speccies are high risk investments and amongst the first areas of shrinking liquidity in a global situation where the dimensions and implications of a possible Greek exit from the euro are near impossible to anticipate.