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Was watching "Good Morning Greece" on satellite and noted that Greek banks used the crisis to hike up their rates on consumers. Now Greeks are asking whether they will bring them down again. Fat chance. NBG might be a good buy here.
Hope the euro goes lower so I can enjoy my summer in paradise:
Appreciate it and all but I would rather watch Katie Couric's colonoscopy which I have on Blu-tooth than read about the Socialist States of European Union's self-inflicted wounds.
Greece,,,,, coming to a country near you.
An unhealthy diet of debt and a lack of fiber nationally, has resulted in cancer, diagnosed way down in the bowels of most nations. Operations by IMF surgeons are scheduled.
Based on their (IMF) past surgical record, those countries placed in their care, will all end up wearing colostomy bags, their (economic) guts being torn out of them. It's the only procedure the IMF has in its skills bag.
A lot of talk, but no cold hard cash to cover the debt refunding cliff that Greece is headed toward in a Prius on autopilot and afterburners.
It is obvious, the present Pan-European Union is ready to collapse. After all, Greece got nothing.
It the time Greece will be desperate, the rest of EU will be in endless discussions of what it means and what to do.
More pointless posturing from Greece and the EU.
Greece isn't going to rein in their spending enough to make a difference. They could perhaps crack down on the underground economy enough to drag their deficits down by half, but that will still leave them double the EU's 3% limit. And they are still in a demographic vs. pension/healthcare death spiral.
At best, they buy themselves a few years and then default. At worst, they get a few months, and then the streets erupt against the cutbacks during the August heat.