what does greece have to do with nvax? greece needs a vaccine for it's problems and quit getting shots of the uzoo!!!!
Tomorrow could very well be the day I will buy back the first lot of NVAX in 9's and another lot later in the week at a lower price.
Sentiment: Strong Buy
Yeah, they party too hard down there. I was there a couple years ago. Friday, everyone leaves work early and head to party in San Juan. LOL. I can't speak too badly about it because I joined in on the party.
And those attending college might seek a bachelors degree in engineering, versus a M.A. or PhD. in sociology, etc. They can find a job, have less debt, and make the country more competitive.
Low productivity and a low GDP. They are not a producer and exporter of technology, electronics, pharmaceuticals or natural resources such as oil, precious metals, minerals etc. Also not a source of cheap manufacturing labor. The question is how do you get the people to accept a reduction in wages and social benefits without social upheaval. Unlike the U.S. and other European countries they can't issue investment grade debt to pay their bills. The E.U. terms may be very strict but where do you draw the line? Of course the E.U. can bail them out but can they bail out the next country that reaches that point. Maybe the E.U should just forgive the outstanding debt and let them go it alone. Unfortunately this might push them into a economic deal with Russia and create a worse situation. No easy answers here.
Yes, and this is why here in the USA I've said for years (well, when I was working not retired) that McDonalds and Walmart do not a sound economy make, we need to actually produce goods.
I guess designing, manufacturing and exporting high value items brings more in than picking olives and squeezing them, to exaggerate the point.
Well, on the hours worked, the problem is productivity. Greece is not the industrial engine like Germany.
The retirement allowances/age killed Greece. They have cut back significantly on these. More recently, the major problem (my judgment, and the judgment of most economists/finance professionals who are not politically attached) is the economy has been in shambles (unemployment rate 25%) and the EU sets conditions for repayment demanding more and more "austerity"; The austerity has killed any growth prospects for the economy.
Greece needs some large debt forgiveness, or perhaps better, zero interest and no payments on principal for 5-10 years. Or let em go. Me, if I were in the EU, I'd try to keep em in. Too, I believe they can do this without larger bailouts going to other EU countries.
Greece 2037 hrs/yr in 2013. Germany, 1388 hrs/yr. Incredible. Says something about the system they're working under I guess. from stats/oecd/org
Japan 1735, US 1788.
I don't think the problem is hours worked per week. It's retirement age, lax income tax collections and generous unsupportable social benefits.
I just thought, maybe Greek shipping is still significant. You don't see it, but it's out there, and you use it indirectly. I feel better now.
Greeks work hours per year are among the highest in the EU, and higher than in the USA.
When you don't have a clue about facts on the ground, I know it's easy to toss out prejudice but doing so is not all that constructive.
It is a complicated story. Greece bears blame. So does the EU. (I've tracked this Tragedy since 2009).
Me, I hope the cut a deal that offers real hope of a solution -- this has not been done previously, much to the discredit of the rest of the EU the last 2 plus years in my judgment.