Greece

Tyler Durden's picture

"I’m Not Crazy, I’m Scared" - Why For One Trader, This Time It Is Different





"What is different this time? Central banks are driving all investment decisions, and what this implies is that they are in this trade so  deeply that there is no obvious or practical exit.... This is a dangerous situation. The focus must return to the REAL economy; we cannot trade our way out of past mistakes."

 
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11 Signs That We Are Entering The Next Phase Of The Global Economic Crisis





Well, the Nasdaq finally did it. So if you invested in the Nasdaq at the peak of the dotcom bubble, you are just finally breaking even 15 years later.  Unfortunately, the truth is that stocks have not been soaring because the U.S. economy is fundamentally strong.  Just like the last two times, what we are witnessing is an irrational financial bubble.  Sometimes these irrational bubbles can last for a surprisingly long time, but in the end they always burst.  And even now there are signs of economic trouble bubbling to the surface all around us. 

 
Tyler Durden's picture

America Ranks Below Israel In World Happiness Index





USA USA USA #15? Despite aerial bombardment, growing tensions with every neighbor, and the almost ubiquitous daily car-bombs, Israelis are "happier" than Americans according to Bloomberg's world happiness index. Happiness, it appears, is most abundant a long way from the equator with Switzerland, Iceland, Denmark, Norway, and Canada all topping the list; whereas the unhappiest nations are all in Saharan or sub-Saharan Africa (apart from war-torn Syria and Afghanistan).

 
Tyler Durden's picture

An Austrian Province Just Requested A State Bailout





Finance Minister Hans Joerg Schelling has said repeatedly that the Austrian government isn’t liable to cover Carinthia’s guarantees." Herr Schelling's warning is about to be tested. Yesterday, Carinthia officially asked Vienna for financial support. The spokeswoman said Carinthia would run out of money in June without help, confirming local media reports. No Austrian province has ever gone bankrupt and there is no legislation on how to handle such an event.

 
Tyler Durden's picture

When To Put On Bill Gross' Big Bund Short: Citi Explains





With only six weeks (or one Graccident) to go until Bund purchases are forced out to 7-year maturities, and with traders warning that nearly every piece of PSPP-eligible German government paper will eventually trade special in repo despite the ECB’s feeble attempt to remedy the situation via its Securities Lending Program, the world wants to know: “when do I sell Bunds?”

 
Tyler Durden's picture

The 'Relentless' Greek Debt Payment Schedule





Greece, which owes €324 billion to the International Monetary Fund, the European Central Bank, and euro zone governments, faces a relentless debt payment schedule over the next few months.

 
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Puerto Rico Warns Of Imminent Government Shutdown Due To "Liquidity Crisis"





"A government shutdown is very probable in the next three months due to the absence of liquidity to operate," Puerto Rico's finance officials warn, in an effort to shock lawmakers into action and avoid a potential "PRimbo".

 
Tyler Durden's picture

"Greece Can No Longer Withstand The Waves Of Desperate People Arriving From War Zones"





"The EU and US need to hear the pleas coming from the southern European countries, as well as those of the refugees. The humanitarian catastrophe has reached large scale, with profound and irreversible consequences. Greece is paying a disproportionately high price, although Greece played no role in triggering this catastrophe. The EU and the US have the moral obligation, which is also consistent with their long-term interests, to take the necessary steps to put an end to the suffering of those in war zones, while at the same time preventing Greece’s collapse under the mounting pressure of refugees."

 
Tyler Durden's picture

Summarizing Today's Greek Negotiations In One T-Shirt





Be careful of blowback as Troika said they are "turning hostile" in Greece today...

 
GoldCore's picture

Election ‘Chaos’ In UK Could Trigger ‘Lehman Moment’ For Pound





UK debt has continued to rise throughout the recovery and has soared to an eye-watering £1.48 trillion. In recent days, a slew of foreign exchange analysts have warned that the pound is vulnerable to falling in value. The incumbent government have not reined in public and trade deficits and have been accused of juicing the property market and the economy to postpone a crisis until after the election. 

 
Tyler Durden's picture

Frontrunning: April 24





  • Obama’s Drone-Strike Rules to Be Reviewed (WSJ)
  • Hostage locations difficult to track - and may be getting harder (Reuters)
  • Varoufakis Said to Take Hammering From Riled EU Ministers (BBG)
  • EU Frustration Mounts as Greeks Try to Bypass Aid Process (BBG)
  • Kleiner Perkins seeks almost $1 million in costs in Pao case (Reuters)
  • Google Misses, Caps Costs as Growth Slows (WSJ)... stock surges 
  • Oil prices trade near 2015 highs on Yemen worries (Reuters)
  • Pentagon Announces New Strategy for Cyberwarfare (NYT)
  • Bloomberg Oil at $65 Seen Freeing 500,000 Barrels From Shale Fracklog (BBG)
  • ‘Flash Crash’ Trader Navinder Sarao: It Was Wits, Not Bits (WSJ)
 
Tyler Durden's picture

Futures Fizzle After Greece "Hammered" In Riga, Varoufakis Accused Of Being "A Time-Waster, Gambler, Amateur"





Even though no rational person expected that the Greek situation would be resolved at today's talks in Riga, Latvia, apparently the algos were so caught up in spoofing each other to new record highs that futures, after surging once more overnight following the latest Google miss which sent the company and the Nasdaq soaring, actually dipped modestly into the red following headlines that the latest Greek talks have broken down after a "hostile" Troika "hammered" the Greek finmin, who was accused by European finmins of "being a time-waster, a gambler and an amateur."

 
Tyler Durden's picture

Assessing The Risk Of A Greek Default





Tomorrow, Friday, April 24th, the finance ministers of Europe will again meet to discuss the fate of Greece’s bailout program. Although no definitive course of action is expected to come out of this meeting, it is yet another chance to assess the potential consequences if indeed the Greek government defaults on its loans.

 
Tyler Durden's picture

Greek Bank Will Write Off Up To €20,000 In Debt For "Poverty-Stricken" Borrowers





Instead of merely plugging the hole left from declining liabilities (deposits), what the ECB's ELA funding appears to also be doing is compensating for a rapid write down in bank assets (loans) as well, in the form of charged off Non-Performing Loans. According to Reuters, one of the leading Greek financial institutions, Piraeus Bank will write off credit cards and retail loans up to 20,000 euros ($21,484) for Greeks who qualify for help under a law the leftist government passed to provide relief to poverty-stricken borrowers, it said on Thursday.

 
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