The Economy and Finance Ministers of the EU are preparing to meet in Brussels this afternoon and the leader of the Eurogroup of finance ministers says several proposals to bailout Greece will be discussed. My bet remains on debt guarantees … Continue reading
Not talking yet about possible financing for any European Monetary Fund Greece has not asked for aid, is working on its debt problems itself EUR/USD down at 1.3713, having been as low as 1.3706 after stops through 1.3720 were tripped.
EUR/USD is down at 1.3737, having closed out last week in North America up around 1.3760. The move comes amid ongoing speculation China is close to implementing further steps to rein in growth, which is weighing on Asian stocks. Morgan … Continue reading
That’s one scenario making the rounds ahead of the EcoFin meeting in Brussels on Monday.
Gee, ya think? It is hard to imagine, but the EU economics commissioner is speculating on the impact on the EU of a collapse in Greece. Never speculate, Olli. Speculators are evil…
Greek austerity steps appear sufficient to safeguard 2010 budgetary steps, Sarkozy says. Brown echoes Sarko, saying present arrangements should be sufficient… Repeat after me…never believe anything until it has been officially denied… The EU commission says Greek GDP will fall … Continue reading
ECB executive board member Tumpell-Gugerell says that the euro is not a one-way street and Greece must make good on its reform plans. Sounds like she is from the “show-me” state of Missouri rather than Austria…
This one’s for ZZ. If it ever gets to 1.3800 I want 5% of your profits.
Traders will have noted lead article in WSJ entitled “High interest costs burden Greece.” The story highlights the fact high interest rate costs Greece must pay to borrow money are threatening country’s attempts to rein in it’s budget deficit. Nothing new, but … Continue reading
Even if you get the austerity plan right, the economic pain is tremendous… If Spain, Portugal, Ireland and Greece are all in fiscal purgatory, it will be slow-growth ahead for the EU, for sure…