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Tag Archives: greece
There’s Brussels And Then There’s Real People
There’s Brussels And Then There’s Real People Once again, a look at Greece and the Troika, because it amuses me, it angers me, and also because it warms my cockles, in an entirely metaphorical sort of way. The Troika members love to make it appear (and everyone swallows it whole) as if in their ‘negotiations’ […]
German DAX Surges Over 12,000 On Greek Optimism, But The Money Has Run Out
German DAX Surges Over 12,000 On Greek Optimism, But The Money Has Run Out Moments ago, the German DAX roared gingerly back over 12,000 dragging US equity futures alongside it, with the catalyst cited as the somewhat optimistic tone following the three hours of talks held late last night to try to break an impasse […]
The Unraveling Is Gathering Speed
The Unraveling Is Gathering Speed Debt saturation and debt fatigue = diminishing returns on central bank tricks. Does anyone else have the feeling that things are not just unraveling, but that the unraveling is gathering speed? Though quantifying this perception is more interpretative than statistical, I think we can look at the ongoing debt crisis […]
After Pillaging Pensions, Greece Raids Utilities To Repay Troika; Bonds Plunge As Bank Run Accelerates
After Pillaging Pensions, Greece Raids Utilities To Repay Troika; Bonds Plunge As Bank Run Accelerates Following yesterday’s news that the ECB is now running simulationson what a Grexit would mean for Greek bond prices (spoiler alert: “fundamentals” suggest a 95% loss), overnight we got more confirmation that Mario Draghi continues to tighten the screws on the […]
It’s What Jesus Would Do, Right?
It’s What Jesus Would Do, Right? On the day that Mario Draghi opened the ECB’s overly opulent new €1.3 billion palatial building(s) in Frankfurt, which led to fierce and fiery protests with hundreds arrested, amongst others from the Blockupy movement, and the IMF for some reason found it necessary to tell the eurozone that Greece […]
Are Greek Capital Controls Now Inevitable?
Are Greek Capital Controls Now Inevitable? While the trading algos are blissfully honing their headline-scanning skills (it should take no longer than a few nanoseconds to find whether “patient” and “international” are in the FOMC statement) ahead of tomorrow’s Fed announcement and avoiding any macro developments from around the globe, the biggest international news hit […]
Dollar Demand = Global Economy Has Skidded Over the Cliff (March 18, 2015)
Dollar Demand = Global Economy Has Skidded Over the Cliff Borrowing in USD was risk-on; buying USD is risk-off. There is a lively debate about the global demand for U.S. dollars: Global finance faces $9 trillion stress test as dollar soars (Telegraph.co.uk) Is There a US$ Shortage? Will it Sink the Global Economy? Again? (Mish) The Dollar […]
Greek PM To Meet With Putin Amid Cash Crunch
Greek PM To Meet With Putin Amid Cash Crunch With Greece digging around in the couch cushions to try and scrape up €2 billion by Friday in order to make payments to the IMF, the ECB, and Goldman, and with celebrity FinMin Yanis Varoufakis doing his absolute best to sink the entire ship with a series of […]
It’s Time for Angela Merkel to Stand Up
It’s Time for Angela Merkel to Stand Up I need to start of off the bat with an update to this piece, which I started writing yesterday, since I now know that Angela Merkel actually did invite Alexis Tsipras on Monday. It only took her two months…. But that doesn’t take away anything from my […]
Europe Has A Modest Proposal For Greece: “Don’t Pay Wages For One Or Two Months”
Europe Has A Modest Proposal For Greece: “Don’t Pay Wages For One Or Two Months” The Greek liquidity, pardon “cash flow” problems are so bad, not only Zero Hedge, but also Bloomberg has launched a daily maturity tracker of how much money Greece has to pay either to the IMF or to prefund T-Bill rollovers. This […]
Germans Furious After Varoufakis/Tsipras Admit “Greece Will Never Repay Its Debts”
Germans Furious After Varoufakis/Tsipras Admit “Greece Will Never Repay Its Debts” The Greco-Germanic war of words continues… Having pissed off The Greeks with his “Troika” remarks, Germany’s Schaeuble went on today to more ad hominum attacks by reportedly calling the Greek FinMin “foolishly naive.” The Greek ambassador has ‘officially’ complained to “friend and ally” Germany about the personal insult. […]
The ECB’s Noose Around Greece: How Central Banks Harness Governments
The ECB’s Noose Around Greece: How Central Banks Harness Governments Remember when the infamous Goldman Sachs delivered a thinly-veiled threat to the Greek Parliament in December, warning them to elect a pro-austerity prime minister or risk having central bank liquidity cut off to their banks? (See January 6th post here.) It seems the European Central Bank (headed by Mario […]
Greeks Face First Product Shortages As Cash Runs Out, “It’s Worse Than In 2012”
Greeks Face First Product Shortages As Cash Runs Out, “It’s Worse Than In 2012” Just when you thought it was getting better (or so you would believe if you listened to the mainstream media’s punditry) Greece faces what ekathimerini reports is a “situation worse than in 2012.” From well-known Belgian beer to electronics equipment, the first occurrences of shortages in imported goods […]
Why Japan is Not Greece or EU For that Matter
Why Japan is Not Greece or EU For that Matter QUESTION: Hello Martin There are a few writers who speculate the the yen will be the first currency to fall (because Japan has been tied into QE and flat interest rates for decades already, and their manufacturing is suffering). How do you think the currency situation […]
SPIEGEL Interview with Greek Prime Minister Tsipras: ‘We Don’t Want to Go on Borrowing Forever’
SPIEGEL Interview with Greek Prime Minister Tsipras: ‘We Don’t Want to Go on Borrowing Forever’ Alex Tsipras seems almost inconspicuous as he stands in his enormous office in Athens’ Maximos Mansion, and very relaxed. Greece’s new, 43-year-old leftist prime minister, a thorn in the side of German leaders in Berlin, has a soft handshake. On the […]
