In 2013, new forecasts guess that the Greek economy will shrink by 4.5%, with a budget deficit of 5.4%. Unemployment already stands at a depression-like 25%
November 1st, 2012 | Greg Canavan+ | 0 comments | ContinuedAll Posts Tagged With: "Greek economy"
Why Economists Are Jackasses
Yesterday, we promised to tell you why economists and policy makers were jackasses. We can’t remember what we intended, but this blank is easy to fill in.
October 31st, 2012 | Bill Bonner+ | 5 comments | Continued
How the Greek Soccer Team Can Survive the Sinking of the Gustloff and World War 3
Let’s call it the domino effect. If the Greeks don’t have German backing, nor do the Spanish, or the Portuguese. Germany’s economy can’t back all the nations of Europe financially. So is it even right to choose some of them?
June 23rd, 2012 | Nick Hubble+ | 1 comment | Continued
Elections and Debt: Greece is the Word
This weekend’s decision by the Greek people is really one about whether to default or not. It’s clear that the majority of Greek people want to stay in the Eurozone. It’s whether they want to stay with or without Greek debt that’s the issue.
June 15th, 2012 | Greg Canavan+ | 3 comments | Continued
Greek Game Theory: Default, Devaluation, Austerity, Deliverance?
When it comes to the Greek crisis even the Greeks are confused about what defaults and devaluations would amount to. It’s very difficult to know whether their belief in endless German bailouts without having to implement the required austerity is incredibly clever or delusional.
May 30th, 2012 | Nick Hubble+ | 5 comments | Continued
The Global Monetary Policy of “Three Sheets to the Wind”
Investors definitely should sail carefully, especially since global monetary policy response seems to be ‘three sheets to the wind’.
May 15th, 2012 | Dan Denning+ | 0 comments | Continued
Opposing Trends in Debt and GDP Growth
The typical developed country has total debt somewhere around 300% of GDP. And the level of debt, generally, is still increasing.
February 23rd, 2012 | Bill Bonner+ | 0 comments | Continued
Why Europe Hasn’t Solved the Greek Debt Crisis
The Greek debt deal isn’t worth the paper it’s printed on. A leaked memo prepared for Europe’s finance ministers – BEFORE the deal passed – revealed that the austerity measures could make Greece’s debt-to-GDP blow out to 160% by 2020, instead of reducing it.
February 22nd, 2012 | Dan Denning+ | 5 comments | Continued
What the Greek Debt Crisis is Really About
What’s going on in Europe has nothing to do with solving the Greek debt crisis and everything to do with preserving a corrupt system based on limitless debt and growing government power. The sooner you understand that the sooner you’ll be able to prepare for what happens next.
February 21st, 2012 | Dan Denning+ | 12 comments | Continued
Greek Default Therapy
After days of “tense negotiations,” the ECB and the Greek leadership finally hammered out a deal to save the troubled nation from default. The folks on Wall Street were riotously happy; the Greeks were merely rioting…and it is not difficult to see why.
February 20th, 2012 | Eric J. Fry+ | 1 comment | Continued
An Orderly Greek Default
The headlines still focus on Greece. It is broke. Here is Lucas Papademos, describing what an orderly default would mean.
February 20th, 2012 | Bill Bonner+ | 0 comments | Continued
A Greek Debt Crisis Recap
And the Greek debt story nears its conclusion… the Germans agree to bail out the country… at least for a while… and the Greeks agree to act more like Germans… at least while everyone is looking… But now everybody agrees that the farce has gone on long enough.
February 17th, 2012 | Bill Bonner+ | 2 comments | Continued
To the Tune of a Greek Bailout
The Greek bailout saga continues to resemble a broken record this week (and a horrible, broken tune at that). Every solution so far has been about delaying the inevitable. Even Chinese support will hardly solve Greece’s problem.
February 16th, 2012 | Nick Hubble+ | 2 comments | Continued
The Dark Side of Profitable Banks
The Reserve Bank of Australia (RBA) left the cash rate at 4.25% last week. But one by one, the Big Four banks are raising their rates anyway.
February 13th, 2012 | Dan Denning+ | 4 comments | Continued
