London Bookmakers No Longer Taking Bets On Grexit, Regulators Prepare For Derivatives Fallout!

• London Bookmakers No Longer Taking Bets On Grexit, Regulators Prepare For Derivatives Fallout!
  by Mark Melin, http://www.valuewalk.com/
  Just a few days after current U.S. Treasury Secretary and former Citigroup Inc. (NYSE:C) executive Jack Lew warned that Greece leaving the Eurozone family will cause “disruption” and “hardship,” London bookies are saying this bet has gone off the rails.
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  London bookmakers close the window, the odds of Grexit are too volatile
  Bookmakers William Hill have thrown up their hands and prefer to pass on the “Grexit” game as they announced this week they will no longer be taking bets on the Greek government remaining in the Eurozone.
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  Like any good market maker, William Hill is looking at what market participants are saying on the issue, and their votes with cash speak louder than any voice.
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  “No one is interested in backing Greece to stay in the Eurozone until the end of the year, so we decided to pull the plug on the markets until either the decision to leave is taken, or the crisis point passes and a plan is put in place enabling the country to remain in,” a William Hill spokesperson said in a statement.
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  The London betting parlor noted that the liquidity on the Greek side had been drying up rapidly as of late. “Greece had been heavily backed down to 1/5 (from 5/1 and then 3/1) to be the first to quit the Eurozone, and we’d also been shortening the odds for Greece to leave during 2015,” said William Hill spokesman Graham Sharpe. ‘It is now looking increasingly likely that they could begin the process of departing very shortly.”
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