{"id":8620,"date":"2015-05-30T06:23:05","date_gmt":"2015-05-30T11:23:05","guid":{"rendered":"http:\/\/olduvai.ca\/?p=8620"},"modified":"2015-05-30T06:23:05","modified_gmt":"2015-05-30T11:23:05","slug":"the-pressure-just-shifted-from-greece-to-the-us-and-eu","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=8620","title":{"rendered":"The Pressure Just Shifted from Greece to the US and EU"},"content":{"rendered":"<h3 class=\"posttitle\"><a class=\"entry-title\" title=\"The Pressure Just Shifted from Greece to the US and EU\" href=\"http:\/\/www.theautomaticearth.com\/2015\/05\/the-pressure-just-shifted-from-greece-to-the-us-and-eu\/\" rel=\"bookmark\">The Pressure Just Shifted from Greece to the US and EU<\/a><\/h3>\n<p>With the 3rd US Q1 GDP print coming in at -0.7% (-3% if not for inventories), perhaps the media spotlights \u2013 and lively imagination \u2013 can move away from Greece for a few weeks. The US has enough problems of its own, it would seem. For one thing, its Q1 GDP is now worse than Greece\u2019s. Of course its debt is also much higher, just not to the IMF and ECB. But let\u2019s leave that one be for the moment. Though a bit of perspective works miracles at times.<\/p>\n<p>Of course it\u2019s not a technical recession yet for the US, which only recently presented a +4% quarter with a straight face, and there\u2019s always the \u2018multiple seasonal adjustment\u2019 tool. But still. It\u2019s ugly.<\/p>\n<p>The IMF confirmed on Thursday that Athens has the right to ask for \u201cbundled\u201d repayments in June. \u201cCountries do have the option of bundling when they have a series of payments in a given month \u2026 making a single payment at the end of that month,\u201d as per an IMF spokesman. Who added that the last country to do so was Zambia three decades ago.<\/p>\n<p>That leaves Athens, in theory, with a 30-day window, not a 7-day one. This of course takes the pressure cooker away from Athens, and the media attention as well. There is no immediate risk of a default, or a Grexit, or anything like that. The negotiations with the creditors will continue, but the conversation will change with time less of an issue.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Pressure Just Shifted from Greece to the US and EU With the 3rd US Q1 GDP print coming in at -0.7% (-3% if not for inventories), perhaps the media spotlights \u2013 and lively imagination \u2013 can move away from Greece for a few weeks. The US has enough problems of its own, it would [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2504,195,200,279,281,284,353,1167,2598,418,434,827,834],"class_list":["post-8620","post","type-post","status-publish","format-standard","hentry","category-economics","tag-athens","tag-debt","tag-default","tag-eu","tag-europe","tag-european-union","tag-gdp","tag-greece","tag-grexit","tag-imf","tag-international-monetary-fund","tag-united-states","tag-us"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8620"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8620\/revisions"}],"predecessor-version":[{"id":8621,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/8620\/revisions\/8621"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}