Category: Eurozone Debt Crisis
The analysis published under this category are as follows.
Wednesday, July 01, 2015
Athens Mayor: Greek Government Should Resign / Politics / Eurozone Debt Crisis
By: Bloomberg
Athens Mayor George Kaminis spoke with Bloomberg Television's Erik Schatzker who is reporting from Athens. He discussed the Greek debt crisis and the likelihood of the country staying in the euro zone.
On the Greek government, Mayor Kaminis said: "I think they should resign...The government, if it loses this vote -- that means it has lost the confidence of the people, and I think they will understand it. So I think that the more natural development will be to have elections, general elections."
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Wednesday, July 01, 2015
Beyond Greece: The Euro's Fundamental Flaw / Currencies / Eurozone Debt Crisis
By: Rodney_Johnson
The euro has more problems than just Greece. The great "euro zone" experiment was bound to have a few kinks... but it is more flawed than it seems.I have a sister who is two years older than me. We fought from time to time growing up. I distinctly remember this one time when I was 11 and our dad forced us to make up by putting our arms around each other’s shoulders. I don’t remember what the fight was about, but I do remember that the outcome wasn’t pleasant!
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Tuesday, June 30, 2015
Beyond the Greek Impasse / Politics / Eurozone Debt Crisis
By: STRATFOR
George Friedman writes: The Greek situation — having perhaps outlived the term "crisis," now that it has taken so long to unfold — appears to have finally reached its terminal point. This is, of course, an illusion: It has been at its terminal point for a long time.
The terminal point is the juncture where neither the Greeks nor the Germans can make any more concessions. In Greece itself, the terminal point is long past. Unemployment is at 26 percent, and more than 50 percent of youths under 25 are unemployed. Slashed wages, particularly in the state sector, affecting professions including physicians and engineers, have led to massive underemployment. Meanwhile, most new economic activity is occurring in the untaxable illegal markets. The Greeks owe money to EU institutions and the International Monetary Fund, all of which acquired bad Greek debts from banks that initially lent funds to Greece in order to stabilize its banking sector. No one ever really thought the Greeks could pay back these loans.
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Tuesday, June 30, 2015
Marc Faber - Greece is Basically Bankrupt / Stock-Markets / Eurozone Debt Crisis
By: Bloomberg
Marc Faber, Editor of the Gloom, Boom & Doom Report, spoke with Bloomberg Television's Stephanie Ruhle, Joe Weisenthal and Scarlet Fu about the U.S. economy, financial markets and the Greek debt crisis.
Describing the situation in Greece, Faber said: "My sense is that they will come to some kind of an agreement in the last minute. But I don't think that's any positive because Greece is basically bankrupt. The debt should be written down by 50 percent or more. However, I have this to say. I don't believe that stocks are going down because of Greece. I believe that the market has been weakening internally for a long time."
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Monday, June 29, 2015
Greece - Shoot the Dog and Sell the Farm / Stock-Markets / Eurozone Debt Crisis
By: John_Mauldin
“If this were a marriage, the lawyers would be circling.” - The Economist, My Big Fat Greek Divorce, 6/20/2015
Greece is again all the buzz in the media and on the commentary circuit. If you’re like me, you are suffering terminal Greece fatigue. You just want Greece and its creditors to “do something already” rather than continually coming to the end of every week with no resolution, amid finger-pointing and dire warnings from all sides about the End of All Things Europe – maybe even the world.
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Monday, June 29, 2015
Grexit?, BIS Warning, Chinese Market Crash & Systemic Risk Shake the Global Economy / Stock-Markets / Eurozone Debt Crisis
By: GoldCore
- Persistent low rates leave central banks with no ammunition to fight next crisis
- BIS says short-sighted central banks and governments contributed to current weaknesses
- Lack of policy options have forced some central banks to stretch “boundaries of the unthinkable”
- Bust in developed economies the main risk facing global economy
- Greece prepares to default
- China markets routed overnight
- Gold will be last man standing when currencies collapse
Monday, June 29, 2015
Greece BANKRUPT! Financial and Economic Collapse to Follow IMF Debt Default / Stock-Markets / Eurozone Debt Crisis
By: Nadeem_Walayat
Syriza government betrays Europe and the Greek people says angry EU President Juncker, by Syriza lying to its people on the truth of Greece's proposed bailout conditions and that he has no trust left in Tsipras. Juncker in blunt language made it clear that a NO vote on the 5th July referendum (that I don't think will actually be held) would mean that Greece will be kicked out of the euro-zone.
“’No’ would mean, regardless of the final question, that Greece is saying no to Europe,”
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Sunday, June 28, 2015
Greece Banking System Collapse Monday as ECB Pulls the Plug, Capital Controls Ahead of GrExit / Stock-Markets / Eurozone Debt Crisis
By: Nadeem_Walayat
It looks like the 'game theory' playing Tsipras and Varoufakis are succeeding in having Greece thrown out of the Euro-zone as the ECB after financing every single euro withdrawn from the Greek banks for the past 5 years, Euro-zone tax payer funds amounting to E130billion, has finally today announced that it has effectively pulled the plug on the Greek banking system by stating that the ECB would not extend its emergency lending support programme for the Greek banking system that is haemorrhaging billions of euros on a daily basis.
Sunday, June 28, 2015
I Fear The Greeks, Even When They Bring Gifts / Politics / Eurozone Debt Crisis
By: Raul_I_Meijer
Just another normal morning at the Automatic Earth. Shaking off the local drink – when in Rome.. – and perusing a thousand views and pieces, many on the inevitable topic of ‘Da Referendum’. And I got to say, I can’t even tell whether it’s just me, but there is this huge divide between what a simple vote can and should be, and how it is perceived and presented.
Saturday, June 27, 2015
Greece Crisis OXI / Politics / Eurozone Debt Crisis
By: Raul_I_Meijer
While many voices will be seeking to define the precise terms of the referendum announced last night by Alexis Tsipras for July 5, I think perhaps the general gist is more important. It’ll be a vote between being governed by Tsipras, and Greeks in general, on the one hand, and being governed by Germany, the ECB and IMF on the other. “Who do you want to decide your future?”
And the Greek population will have to understand that voting to go with the latter, voting yes to the troika proposals, will mean there will be no getting out of the stranglehold of the institutions, there will be no more sovereignty, and there will be far more severe austerity, all for years to come. All that must be caught in the exact wording of the referendum question, but what lies underneath is what really counts.
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Thursday, June 25, 2015
European Empire Strikes Back Against Greek Debt Fantasy, Counting Down to GREXIT / Interest-Rates / Eurozone Debt Crisis
By: Nadeem_Walayat
Greece has managed to survive Monday, Tuesday and Wednesday's bank runs that continue on a DAILY basis courtesy of the Euro-zone tax payer forced to step in as the ECB is provides the Greek banks with daily liquidity that totals every single Euro that is being withdrawn from the Greek banks by fearful depositors as Greece continues to count down to debt default on 30th of June. The question is will Greece survive Thursday? Friday? and off course the 30th of June deadline?
Wednesday, June 24, 2015
Greece - The Only Good Deal For Greece Is NO Deal / Politics / Eurozone Debt Crisis
By: Raul_I_Meijer
The only thing that would really go towards beginning to solve the problems with Greece is for Athens to NOT sign a deal. The short version of why that is so: it would leave the EU intact for longer. And the ECB.
Neither have any viable future, but as they go down, they can cause a lot of damage and pain. It’s mitigating that pain which should now be our priority no. 1, the pain that will result from the demise of Europe’s institutions. But we see precisely zero acknowledgment of this. Anywhere.
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Tuesday, June 23, 2015
The Greek Debt Crisis Investor Opportunity That's Being Missed / Interest-Rates / Eurozone Debt Crisis
By: ...
MoneyMorning.com Peter Krauth writes: As Greece approaches its next payment deadline, the rhetoric and the stakes are boiling over.
The IMF recently quit negotiations in Brussels, saying it had reached a stalemate.
Then Greek Prime Minister Tsipras said the IMF had "criminal responsibility" for his country's debt crisis.
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Saturday, June 20, 2015
Investor Tactics to Profit from the Greek Debt Crisis / Stock-Markets / Eurozone Debt Crisis
By: ...
MoneyMorning.com Keith Fitz-Gerald writes: There's a lot being written about the Greek debt crisis right now. It's scary, it's problematic, and, for the most part, almost totally unusable for the average investor.
That's completely unacceptable as far as I'm concerned.
So I thought we'd take a good hard look at what you actually need to know, then move on to three tactics that can help you capitalize on the situation. And I don't just mean by single digits, either.
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Friday, June 19, 2015
Greek Contagion Abyss Looms - Wealth Preservation Strategies / Stock-Markets / Eurozone Debt Crisis
By: GoldCore
Greece, EU and Banks Staring Into Abyss- Markets Are “Irrationally Exuberant” – Gods Punish Hubris
- “Invisible Hand” Propping Up Sanguine Markets
- Short Term Considerations
- Long Term Considerations
- Best Case Outcomes
- Worst Case Outcomes
- Wealth Preservation Strategies
Friday, June 19, 2015
Troika Inciting Greece Bank Runs as a Negotiating Tactic / Politics / Eurozone Debt Crisis
By: Raul_I_Meijer
The troika of Greek creditors has gone into full-frontal morals-be-damned attack mode, handpicking arms from a weapons arsenal we haven’t seen used before, and that we never should have seen in an environment that insists – and prides – on presenting itself as a union, both in name and in spirit. Now that they are being used, there no longer is such a union other than in name, in empty words.
This has turned into the kind of economic warfare one would expect to see between sworn and lethal enemies, that the US would gladly use against Russia for instance, but not between partners in a union founded on principles based entirely and exclusively on being mutually beneficial to everyone involved.
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Friday, June 19, 2015
Big Fat Greek Bank Run - Greece Banking System Could Collapse Monday 22nd June / Interest-Rates / Eurozone Debt Crisis
By: Nadeem_Walayat
It appears times up for the Greek Trojan Horse that has been parked outside of the European Central Bank for years, slowly but steadily bleeding the euro-zone dry of now in excess of Euro 360 billion (E240 billion bailout + E120 billion banking system support), as the euro-zone bureaucrats and politicians are finally starting to understand what many have understood for the past 5 years that Greece just cannot function within the Euro-zone, it should never have been allowed to join with bogus economic statistics and subsequently should not have been bailed out again and again and again.
Thursday, June 18, 2015
GREXIT - Greece Wants to Become Scotland, Seeks Permanent Subsidy from Euro Tax Payers / Interest-Rates / Eurozone Debt Crisis
By: Nadeem_Walayat
The Greece debt crisis is marching towards its end game of GREXIT, as the socialist Syriza government continues to up the anti every other day by threatening to blow a hole in the euro-zone through defaulting on overdue debt payments that now total Euro 1.6 billion, having already delayed payment of for several weeks through the use of the euro-zone rule book as Greece demands bailouts forever to permanently service Greece's debt AND finance government deficit spending.
Wednesday, June 17, 2015
Geopolitics Will Trump Economics in Greece / Interest-Rates / Eurozone Debt Crisis
By: John_Browne
Based on the continued failure of the negotiating parties to make any substantive progress in the talks over Greek debt payments, the financial world is tied up in knots over a possible Greek exit from the European Union. The uncertainty has manifested in both high and low finance, with a sharp sell-off in bonds, particularly EU and Greek government debt, and heightened retail withdrawals from Greek banks as depositors become wary of capital controls that would be imposed in the case of an exit. All concerned parties should likely breathe easier. Despite Greece's almost complete lack of financial integrity, neither NATO nor the EU can afford the political cost of a Greek exit from the EU.
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Wednesday, June 17, 2015
Let’s Just Get This Greece Thing Over With / Interest-Rates / Eurozone Debt Crisis
By: John_Rubino
Guys, please. As much as we all love a good crisis, this is getting old. The threats, the name-calling, the apocalypse certain to occur if one side doesn’t immediately cave to the other’s unreasonable demands. Seems like your Greek tragedy has been going on forever, and like a long-running TV show that keeps pushing the big reveal into the next season, your audience is beginning to lose interest.
Or is that the goal? Exceed our attention span, send us off to more vibrant stories like Russia or ISIS or Caitlyn Jenner — and then, when no one is looking, hit us with something really crazy. By now, that possibility is all that’s keeping us tuned in.
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