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Navios Maritime Partners L.P. Message Board

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  • chrisjcrash chrisjcrash May 17, 2012 10:19 AM Flag

    NMM and Greece/Euro

    I wish that Greece would just get OUT of the Euro. Its not like this is something that hasn't happened before and its not like this will destroy the Euro. In fact it would strengthen the Euro. Just the fact that Greece is teetering is keeping all of Europe hostage and causing pain for world markets. Unlike other European countries, Greece cannot fix their problems. The stories I have heard about how Greek individuals and firms avoid paying taxes is astounding.

    The markets are pricing in a Greek bailout but its not totally priced in yet. When Greece finally bails, the stock market will have it priced in and markets will rebound nicely.

    Who would a Greek bailout hurt. Creditors would certainly be hurt which is why I own no financial stocks presently (except for 1 US REIT).

    A bailout of the Euro would hurt Greece terribly but would make it a very cheap place to visit as the drachma would be hit hard. (If I lived in Greece I would make sure that my savings were in US dollars or gold/silver NOW). The drachma would spiral down like the $Zim.

    How can NMM be impacted? Well it might be difficult to obtain credit but that is already happening in Europe. Financial institutions are already pulling back on financing new ships due to the current supply glut. That is probably a good thing anyway.

    Well that's my take. Also, I am glad that NMM price is falling as I would like to add to my position at < $13.

3.48-0.12(-3.33%)4:01 PMEST