As is better off with Greece Defaulting then lending them Euros that will never ever be repaid. When the fox hole starts to stink you fill it in with dirt and walk away quickly. In the case of Greece - very quickly.
Chancellor Angela Merkel’s spokesman Steffen Seibert told reporters that Greece has to agree to a “far-reaching reform package,” while the country’s finance ministry said Greece must overhaul the country’s labor market, reform its service sector and to pursue privatization.
I know Scotty and at market close she will be deep Red. Time to shoot some photon torpedoes into Greece can get this madness (pending default) over with,
and this up coming Presidential election is going to be a complete farce on both side of the isle. But if Hillary wins we are all doomed.
According to the report, former President Bill Clinton turned down repeated offers to speak at Czech model Petra Nemcova's annual charity event until she directly offered the Clinton family's foundation $500,000 of the proceeds for appearing. When she did, Clinton attended Nemcova's 2014 gala in Manhattan.
Doug White, director of Columbia University's fundraising management program, told The Times that the arrangement was strange because Clinton's foundation is so much bigger. The Bill, Hillary & Chelsea Clinton Foundation has reportedly raised $2 billion. "This is primarily a small but telling example of the way the Clintons operate," White said. "The model has responsibility; she paid a high price for a feel-good moment with Bill Clinton. But he was riding the back of this small charity for what? A half-million bucks? I find it — what would be the word? — distasteful."
"It is obvious that the government is at a dead-end," New Democracy party spokesman Kostas Karagounis said. "It announces deals that don't exist, it presents its own positions as agreements, it is refuted by all foreign officials and meanwhile time has run out and the money has been exhausted."
So it true - Greeks are Wolves in Sheep's clothing as they lie to Creditors yet as for more free money on the side. Default time early June if not sooner.
and let's not forget - Greece is no longer really part of Europe. Its now part of Eurasia.
and it makes me sick to my stomach. Greece again says they are close to a deal but when you check with the "Creditor" they all laugh and say "No Deal is Imminent". In fact the IMF says they are no near close to a deal with Greece and the ECB just reduced their level of bank lending to starved Greek Banks. Today market action is a COMPLETE JOKE, but it did take many shorts out of the action due to the media falling in Love with made up stories about Greece going to be saved from itself. Oh well tomorrow one has to wonder if market goes higher on news that Greece live in make believe land, Euros grow from trees and Germany will bail out all PIGS, especially those who don't save Euros and just spend, spend, spend.
Print Money and Add Debt until Your Hands Bleed.
Well it used to honey but when you mix in June Greece default with upcoming September rate hike the market panics and freaks out. Then when you add world volatility in Ukraine, Middle East, China Sea, North Korea, etc. the market gets really scared and that's when you see a 20% market correction before you can say "Don't Fight The Fed".
Gee Daddy - thanks for explaining things to me. I got confused because I thought good news was good news and bad news was good news as far as the market going up year over year over year. Now I can go back to box of crayons and see if I can draw a picture of Yellen with "hawk ears" and pictures of Helicopter Ben crashing off the Greek shoreline.
The European Monster now has two heads (Greece & Spain). One more (Portugal) and we can replace Game of Thrones dragons with PIGs Dragons.
On a day that saw most European bourses and Wall Street shut for holidays, losses piled up for markets in Spain and Greece after regional elections yielded political upsets in one, and signs of a worsening debt crisis cropped up in another.
and she falls through the short week. Yellen just told market "gray days are over and the Bull will be glue by end of June". Throw in Greek default in two weeks and we could see a "mother" of a correction coming. 20% down before you knew what hit you. BAM
Tsipras’ government has repeatedly tried to bypass the technocrats from the “Troika”, saying it was beneath the dignity of a sovereign state to take orders from functionaries. But his effort to cut political deals at the highest level instead have come to nothing. Tsipras running out of time and certainly running out of friends (if he every had any to begin with).
Oh My Gosh - How is Greece going to keep its head above water when the country decade after decade spends more then they take in? How is Greece going to pay back Billions in IOU's when the country is broke and the Greek banks are empty? How does Greece stay in the Euro when countries like Portugal, Spain, Italy are all looking for "Free Euros" from the EU, ECB, IMF yet Greece wants all the "Free Euros" for themselves.
Watch the Euro crash next week as everyone suddenly realizes Greece is going the way of the Dodo bird never to be seen again with Euros in its mouth. So Sad
so be prepared for a "Major" sell off.
Greece’s prime minister, Alexis Tsipras said, “I want to reassure the Greek people that there is no possibility or chance that the Greek government will back down on pension and labor issues,” he said, adding that additional pension cuts “cannot be accepted.” Is this the final nail in the Greek coffin? Yep
China Is Slowing On All Cylinders - Industrial production in China is slowing. Moreover, consumer spending has failed to pick up the slack, as it too declined. With economic activity weakening, investors could soon become pessimistic on Chinese equities, leading to a sell off in coming months. China - The NEXT JAPAN
China has hidden "bad numbers" from the world for years. But now the rooster is coming home to roost. Housing bubble - Yep. Commercial Real Estate Bubble - Yep. Falling GDP - Oh Yea and now "panic rate cuts" that won't help since the "Bubble is bursting" and all China can do is watch it POP.
You would be one very rich man or women. And one might conjecture of a possible triple move higher after the reverse stop split if Greece defaults, Russia invades all of Ukraine or Israel and Iran declare out and out War. Timing is everything buts it still "Sell in May and Go away".
So let's see how the market digest that along with a Greek Default this month. One two punch to the gut for the Bull?
and you thought Putin just wanted to let the bogus Ukraine cease fire simmer below the surface. No way as Russia no plans to take over 1/3 of Ukraine and claim it as "Official Russian Territory".
Army vehicles rumble down streets, windows are fortified to shield against shell damage and signs pasted to apartment blocks point people to their nearest bomb shelter. Locals fear pro-Russian separatists will unleash an assault on their city now that President Vladimir Putin has finished hosting world leaders to mark the Soviet triumph over #$%$ Germany.