Tag Archive | Greece

Are Markets Expecting Greece To Leave The Euro?

I still can’t get my head around this: Greece’s inflation rate (HT @global-rates.com) has literally been soaring in the last 18 months although the economy never really exited recession. As Edward Hugh’s PMI graph shows, demand in the Greek economy has been faltering thoughout 2010. In other words, the recession is still as strong as […]

The Collapse Of Europe

What is so great about the “Bazooka”? It does nothing to reduce the amount of debt that is going to be in circulation. It doesn’t guarantee debt that is already in circulation. It doesn’t guarantee debt that will be sold to private investors. The real weapon is the ECB intervention in the bond markets. If […]

Lunatic Left in Germany

Just wanted to let my overseas reader know how great German politicians are: Yesterday, while debating the financial support for Greece, one representative of the party Die Linke (The Left) called the financial speculators “Taliban in pinstripe suits”. Of course, there’s no difference between killing people and having the guts to say ‘no’ to another […]

Debt Comparison

Doesn’t look good:

EU and Greece

As some of you may know, member countries of the Euro currency union have to abide to the rules of the Maastricht Treaty and the Stability And Growth Pact. As you also may know, most countries do not do so, but violate almost every rule that was ever set. And they happily continue to do […]