Don’t read this if you think the Greek problem is solved
Because it ain’t even close, according to Citgroup’s chief economist.
The experience with the first Troika programme in Greece over the past 18 months has shown that a solution to the challenges Greece faces cannot be imposed from abroad. It would have to be supported by a broad coalition of the willing in Greece, of which there is little evidence. But until such a coalition materialises, Greece will at best live from review to review in the eurozone. Over the next few days and weeks, investors will undoubtedly greet signs of a greater likelihood of a final signing off on the 2nd bail-out agreement and a completion of the debt swap with minor relief rallies, while retreating at each sign of possible breakdown.
You’ve heard me make the point in bold thousands of times…We’re merely kicking a very dented can just a short way down the road…

AUTOREFRESH 













My toe is starting to hurt…