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Category Archives: Greece
Markets down on Greece worries
A sharp fall in the stock market this morning as investors lose confidence and are concerned about the future. The impact of a Greek default, Euro exit and implications for European and world growth are the factors. We don’t know … Continue reading
Summer in Europe
With a sense of deja vu it is approaching summer in Europe and a re-run of 2011 as Greece once again looks like defaulting and the markets are in retreat. The difference this time around is that the markets start … Continue reading
Posted in Europe, Greece, USA, World economics
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A$ falls again on Greece worries
So all the headlines last week about the A$ being a safe haven currency turn out to be rubbish, as funds exit the A$, and our dollar is trading lower at about US$0.992 The stock market is falling too, and … Continue reading
Posted in Australian economy, World economics, Europe, Greece
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Reality TV: it’s the Euro show again
So, after a break, Europe is hitting the headlines again as the debate about Greece leaving the Euro, and even the EU, intensifies. Without an elected government, Greece cannot ratify the IMF conditions, and seems to have less will to … Continue reading
Good news ignored as Greece & France dominate the news
The stock market plunged today at a cost of $27bn as worries spread about the impact of new governments in France and Greece, so once again Europe is in the headlines. The A$ finally took a hit as lower interest … Continue reading
Posted in Australian economy, Europe, Greece
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Economic outlook under scrutiny
We start a week leading up to the Federal Budget with the economic outlook and interest rates under scrutiny, and a cloudy world outlook as France elects a socialist leader and the result of the Greek elections is awaited. The … Continue reading
Greece sets election date for May 6
It’s been strangely peaceful in Europe the last few weeks, but it had to end sometime, and end it has, with the announcement by Greek interim prime minister Lucas Papademos that Parliament is being dissolved and that an election will … Continue reading
Posted in Europe, Greece
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Greece sorted but default declared
From The Telegraph UK today: “After a marathon seven-hour meeting, the International Swaps & Derivatives Association (ISDA) tonight dramatically declared a “credit event had occurred” and billions of euros of credit default insurance will have to be paid out. The … Continue reading
Posted in Europe, Greece, World economics
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Greece bailout passes hurdle
The Greek government says 85.8pc of bondholders have accepted bond swap offer, moving the country closer to another much-needed bail-out, and this will rise to 95.7pc with the use of collective action clauses to enforce the deal. See http://www.telegraph.co.uk/finance/debt-crisis-live/9132596/Debt-crisis-and-Greek-bond-swap-live.html
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Greece default, the risks rise
If the Greek debt problem has been solved, then it seems that someone forgot to tell the main people that matter: the debt holders. In order for the “agreed” debt write-down to be classed as voluntary, about 95% of bondholders … Continue reading
Posted in Europe, Greece, World economics
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