Greek Deflation Continues For 10th Straight Month; Stocks Up 19% In 9 Days
The Greek economy initially slipped into a deflationary trend in March 2013 and for the 10th month in a row in December, Bloomberg's Niraj Shah notes that EU-harmonized consumer prices dropped 1.8%. This is the longest deflationary streak since 1968 (largest in record according to Bloomberg data) as the Greek economy remains 21.3% smaller than it was in the third quarter of 2007. Of course, this doesn't matter to the dash-for-trash-grabbing fast-money muppets who have driven Greek stocks up 19% in the last 9 days to their highest in almost 3 years; because, as is the only important fact, Stournaras says recovery is coming any minute...
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