Sassan Ghahramani, CEO of New York-based SGH Macro Advisors, which advises hedge funds, said financial markets recognised that Germany's limits were being tested, adding: "And I think the markets would almost say 'let's ringfence this situation'." "The whole thing about the irreversibility of the euro and all of that -- that ship sailed a long time ago," he said. "Now it is: 'Can you manage through this crisis properly?'"

“The key takeaway for the U.S. investor is this: A No vote is not priced into the market,” says Sassan Ghahramani, president and CEO of SGH Macro Advisors, a consulting firm focused on global economic issues. It won’t be a “Lehman moment,” Ghahramani says, referring to the financial chaos that followed the demise of Lehman Brothers. But “the Euro could drop a lot and the dollar strengthen a lot and the Fed, which wants to hike in September, won’t want to raise rates.”

SGH Macro Advisors: “The headline that really caught our attention was Finance Minister Yanis Varoufakis’ threat to resign if the country votes “Yes” on Sunday. It is very hard to imagine a “threat” that would galvanize and cheer the YES camp more than that … A yes outcome after Prime Minister Alexis Tsipras campaigned so hard for a no vote will certainly leave him severely damaged politically. But we suspect he will survive and soon be limping his way back to Brussels.”

Sassan Ghahramani, CEO of SGH Macro Advisors, a policy research company based in New York, writes that withdrawals have reached a record of 1.4 billion per day in recent days. He is hopeful that Greece can secure an extension on its bailout. But he writes of the basically frozen nature of the Greek banking system already. He writes:

And, more importantly, European Union officials have been considering a short-term — rather than 9-month — extension and contingency funding plan, assuming some kind of agreement can be cobbled together, writes Sassan Ghahramani, CEO of SGH Macro Advisors, policy research company based in New York. Ghahramani points to a little-noticed report in Germany’s Der Bild suggesting Germany would reject a third bailout but would extend the existing program: “Buried in the piece is confirmation of one of the key developments we have been flagging – namely that German lawmakers may be considering the option of releasing the 10.9 billion euro EFSF/HFSF funds as an alternative to a formal program disbursement. But this will obviously also be controversial and assumes Greek Prime Minister Alexis Tsipras can and will deliver credible and politically ‘highly visible’ concessions and a budget plan for meeting the 1% primary budget target.”

SGH Macro Advisors, LLC, a New York-based macro policy research firm founded in 2009 serving the world's leading hedge funds, asset managers, and financial policymakers, is pleased to announce an expansion in sales and content, including Energy, Mideast, Japan, US and Europe coverage.

“After struggling for almost two months to force the bombastic Tsipras government to finally move beyond grandstanding and focus on the urgent need for providing a credible budget to the EU” the euro area won’t ease its demands, Sassan Ghahramani and Kevin Muehring of SGH Macro Advisors wrote in a note to clients. At the same time, they said, “discussions between the EU and Greece are now, finally, on a more constructive path.”

Sassan Ghahramani, CEO of New York-based SGH Macro Advisors, which advises hedge funds, said the ECB move to increase the ELA for Greek banks was "a defensive move and it is awkward because they are doing this as negotiations are not progressing". "The ECB does not want to be the institution that pulls the plug (on Greece) and they certainly want to be contributing towards a stable environment. But they have limitations on their mandate and the Greeks need to understand this," he added.

"I expect they will deliver, and launch a QE program that will be probably larger than 500 billion (euros)," said Sassan Ghahramani, CEO of New York-based SGH Macro Advisors, which advises hedge funds.

FOMC would be better served eliminating the phrase; would allow FOMC to move further along evolution of qualitative guidance adopted last March, Sassan Ghahramani CEO of SGH Advisors writes.

"I think the big headwind on the credit multiplier is the banks themselves," said Sassan Ghahramani, CEO of New York-based SGH Macro Advisors, which advises hedge funds. "It's a terrible environment for them," he said with reference to the ECB health check and pressure for capital restructuring. "Undoubtedly it (the TLTRO) is going to help rather than harm. The question is the multiplier issue – there is a bottleneck with the banks."

SASSAN GHAHRAMANI interview with RT TV on the future of dollar

Sassan Ghahramani, founder of SGH Macro Advisors, says there is unlikely to be a more aggressive response from the U.S. and Europe to Russia's moves against Ukraine...

Sassan Ghahramani, founder of SGH Macro Advisors, says Federal Reserve chair Janet Yellen intentionally described the central bank's forward policy guidance in her speech last...

Sassan Ghahramani, CEO of New York-based SGH Macro Advisors, which advises hedge funds, said the ECB's plans "make a lot of sense in theory, and would be the most targeted mechanism for providing credit where needed". "But it is all effective only on the margins from a macro perspective, and certainly nothing markets would get overly excited about if and when it were to slowly materialize."

Sassan Ghahramani, president and chief executive officer of SGH Macro Advisors, says European Central Bank President Mario Draghi will make it clear at the central bank's next...

Putin’s strategy is aimed at influencing the Ukrainian presidential election due on May 25, and its outcome may change his calculations, according to SGH Macro Advisors, a New York-based research group. Russia would be most comfortable with Yulia Tymoshenko, the former premier who was freed from jail last month after the fall of Yanukovych, SGH said in a March 17 report. Even a victory by Vitali Klitschko, a former boxing champion and one of the pro-Western political leaders, may allow for a thaw in relations with Moscow, it said.