Greek debt crisis
Not the Result Markets Had Been Assuming
July 8, 2015
In this age of uncertainty, the baseline scenarios adopted by investment houses on key assumptions invariably assume growth-promoting outcomes. Marketing considerations are the driver behind this forecasting bias. Optimism sells, while pessimism does not. Also, modeling foreign exchange and other financial market trends is far more manageable with happy endings where unanticipated shocks occur from […] More
Another Ultimatum in the Continuing Greek Standoff
July 8, 2015
Eurozone political leaders set this coming Sunday, July 12, as a final deadline for settling the Greek situation one way or another. By then, the Greek government must submit their plan of fiscal reforms, and EU leaders will decide if such can be accepted. Political events such as this game of high brinksmanship are very […] More
Focus Remains on Greece and China
July 7, 2015
There will be a summit today of eurozone leaders where the Greek government will submit its post-referendum proposal for a debt plan. Many in the rest of Europe just want Greece to leave the common currency area, and the ECB has refused to increase Greece’s emergency aid under the ELA. Chinese share prices tumbled another […] More
Musings on Midyear and the Greek Crisis
July 1, 2015
What is it about the cusp that separates the first and second half of the calendar year? The Greek government’s failure to meet its debt payment to the IMF on June 30th brings to mind the devaluation of the Thai bhat on July 1, 1997 that lit the match and ignited a devastating Asian debt […] More
Big Drop in Chinese Stock Market and an Unresolved Greek Debt Crisis
June 26, 2015
Equities slumped 7.9% in China, 2.3% in Hong Kong, 1.5% in Australia, 0.9% in Singapore but fell just 0.3% in Japan. Greece dominates today’s meeting of eurozone finance ministers, which will be followed by a 2-day summit of EU leaders. The Greek government never resubmitted a revised reform plan, after Monday’s offering was rejected by […] More
Anxiety Attack over Greek Debt Slams Equities
September 19, 2011
Weekend developments from Europe were worrisome. More street protests in Athens. Euro leaders still haggling over terms of their July 21 aid agreement to Greece. Greek PM Papandreou cancels planned trip to United States and U.N. Teleconference scheduled today for EU troika and Greek finance minister. Next tranche of Greek aid from IMF and EU […] More
Aid Tranche to Greece Still Not Approved
June 20, 2011
The meeting in Luxembourg of EU finance ministers postponed paying Greece EUR 12 billion, the next part of the EUR 110 billion package. They’ll try again in July but insist that Greek politicians must first legislate more austerity. Prime Minister Papandreou faces a confidence vote this week. All things considered, the euro’s overnight losses were […] More
Dollar in Favor, Euro Not
January 29, 2010
Market confidence continues to build that 2010 is going to be a good year for the dollar. The U.S. currency clawed through several big figures this past week such as 1.40 per euro, 90 on the yen, 90 cents per Australian dollar, and $1.60 per pound sterling and 70 cents on the kiwi appear on […] More
