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The Greek Fraud Reads Like a Crime Novel
The Greek Fraud Reads Like a Crime Novel Tamara de Lempicka The refugees 1937Note: I feel kind of sorry this has become such a long essay. But I still left out so much. You know by now I care a lot about Greece, and it’s high time for another look, and another update, and another […]
Meanwhile In Greece, Familiar Scenes Are Back: General Strike, Molotov Cocktails, Tear Gas
Meanwhile In Greece, Familiar Scenes Are Back: General Strike, Molotov Cocktails, Tear Gas Greece was fixed for a few months, when the so-called “anti-austerity” government of PM Tsipras which came to power just over a year ago did what each on its predecessors did by kicking the can and trading off what little sovereignty Greece […]
Greece Is A Nation Under Occupation
Greece Is A Nation Under Occupation Perhaps the best way to show what a mess Europe is in is the €3 billion deal they made with Turkey head Erdogan, only to see him being unmasked by EU archenemy Vlad Putin as a major supporter, financial and who knows how else, of the very group everyone’s […]
Meanwhile In Greece, Pension Funds Tap Emergency Loans
Meanwhile In Greece, Pension Funds Tap Emergency Loans This has not been a great year to be a pensioner in Greece. Over the course of the country’s fraught bailout talks, Greece’s pension system was frequently in the troika’s crosshairs. As for PM Alexis Tsipras, pension cuts were generally considered to be a so-called “red line” […]
Another Black Swan? Syriza Outcasts Form New Political Party, Will Push For Grexit
Another Black Swan? Syriza Outcasts Form New Political Party, Will Push For Grexit Once upon a time, Panagiotis Lafazanis had a plan to save Greece. On July 14, just two days after Prime Minister Alexis Tsipras sold out the Greek referendum “no” vote by agreeing to a shockingly punitive bailout deal in Brussels, Lafazanis convened a meeting […]
Tsipras Reportedly Set To Step Down, Call Snap Elections As Early As Today
Tsipras Reportedly Set To Step Down, Call Snap Elections As Early As Today As Greece struggled to seal the deal on its latest bailout agreement with creditors, it became abundantly clear that embattled PM Alexis Tsipras was going to have a difficult time preserving his coalition government. In short, the Syriza defections were mounting with […]
Euro ministers give blessing to Greek bailout, wooing IMF on debt
Euro ministers give blessing to Greek bailout, wooing IMF on debt Euro zone finance ministers have agreed to lend Greece up to 86 billion euros ($96 billion) after Greek lawmakers accepted their stiff conditions despite a revolt by supporters of leftist Prime Minister Alexis Tsipras. Assuming approval by the German and other parliaments, 13 billion […]
Greeks Ditch Euro For Alternative Currencies As Parliament Votes On Bailout
Greeks Ditch Euro For Alternative Currencies As Parliament Votes On Bailout Greece released a bit of amusing econ data on Thursday, as the country’s statistical authority claimed GDP grew by 0.8% in Q2, well ahead of estimates of a 0.5% contraction. While we suppose it’s feasible that things weren’t as bad in Q2 as they […]
Greek Stocks, Economy Collapse, Suffer Worst Declines In History
Greek Stocks, Economy Collapse, Suffer Worst Declines In History The Athens Stock Exchange reopened on Monday and unsurprisingly, some folks were selling. Trading was suspended five weeks ago after PM Alexis Tsipras’ dramatic midnight referendum call precipitated capital controls and a lengthy bank “holiday.” Shares opened lower by nearly 23% and the country’s banks traded limit-down, […]
Varoufakis: “In 1967 There Were The Tanks And In 2015 There Were The Banks”
Varoufakis: “In 1967 There Were The Tanks And In 2015 There Were The Banks” It was back on January 31 of this year, long before the “game theoretical” approach of Greek negotiations with the Eurogroup and ECB in particular and the Troika, and now Quadriga in general was revealed, that we first forecast with absolute accuracy […]
An Exasperated Tsipras Calls For Syriza Referendum On Bailout Cancellation
An Exasperated Tsipras Calls For Syriza Referendum On Bailout Cancellation Anyone who thought Greece’s third bailout program was a done deal or that, at the very least, the market would get a few months of respite before having to grapple with daily Grexit headlines again, got a rude awakening late last week when reports of […]
Greek Bonds Tumble As Tsipras Threatens Snap Election
Greek Bonds Tumble As Tsipras Threatens Snap Election 10 year Greek bond yields are spiking this morning (and prices therefore plunging) as trading actvity picks up in the dormant peripheral capital markets. The 2025s are downover 5pts from their last traded price back in late June with yields spiking back up toward 12.5%. This derisking comes […]
Greek Parliament Votes In Favor of “Prior Actions” – Protests Erupt in Athens (Live Stream)
Greek Parliament Votes In Favor of “Prior Actions” – Protests Erupt in Athens (Live Stream) Euro-Group Deal Approved by Greek Parliament The result of the parliamentary vote in Athens just came through, and was remarkably closely aligned with recent surveys of Greek voters. Funny enough, these surveys revealed approximately 70% approval of the dealoffered by the […]
UK Furious At Proposed €7 Billion Greek Ponzi-Perpetuating Bridge Loan
UK Furious At Proposed €7 Billion Greek Ponzi-Perpetuating Bridge Loan The two most important stories out of Greece on Tuesday were: 1) the IMF’s leaked report on Greek debt sustainability, and 2) the race to secure between €7 and €12 billion in bridge financing to hold Greece over until the ESM gets off the ground. […]
