Posted by Robert50 on 22nd of Jun 2011 at 09:18 am
I am very concerned about a Greece default. Living here in
Europe, the prevailing sentiment is that Greece is more than likely
to default - that is, they will not enact their asuterity program
in time to meet EU demands prior to providing more rescue
help. It seems like a "no brainer" that they have
to do it, but there is a different mind set over here.
My German friends, collagues and employees are very skeptical of
the southern Europe economies, especially Greece. Portugal
and Spain, followed by Italy are close behind. There is a very big
sense of "entitlement" over here that has increased substantially
over the past decade.
While I hope the program is enacted by Greece's parliament, I
remain skeptical and I intend to be in a more defensive position
prior to the final vote.
Robert50 - thanks for the excellent feedback. I concur with your
statements and see the same thing here with many in regards to
entitlements and the battles coming down the road. I expect that
this uncertainty to lead to increased volatility over the summer
months. Keep us posted.
Posted by dylan398 on 22nd of Jun 2011 at 09:29 am
I also agree greece will default....just a matter of
when.....this Shibor thing in China has me worried more. It cost's
8% to borrow money for 1 week, i can't beliece liquidity is drying
up there.
It is always good to hear the opinion of people closer to
the situation. It seems to me that this market has been
preparing for this and the end of QE2 since February. Any
other information you can supply is appreciated.
Ralph
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Beware of 1 July!
Posted by Robert50 on 22nd of Jun 2011 at 09:18 am
I am very concerned about a Greece default. Living here in Europe, the prevailing sentiment is that Greece is more than likely to default - that is, they will not enact their asuterity program in time to meet EU demands prior to providing more rescue help. It seems like a "no brainer" that they have to do it, but there is a different mind set over here. My German friends, collagues and employees are very skeptical of the southern Europe economies, especially Greece. Portugal and Spain, followed by Italy are close behind. There is a very big sense of "entitlement" over here that has increased substantially over the past decade.
While I hope the program is enacted by Greece's parliament, I remain skeptical and I intend to be in a more defensive position prior to the final vote.
Robert50 - thanks for the
Posted by steve on 22nd of Jun 2011 at 09:26 am
Robert50 - thanks for the excellent feedback. I concur with your statements and see the same thing here with many in regards to entitlements and the battles coming down the road. I expect that this uncertainty to lead to increased volatility over the summer months. Keep us posted.
I also agree greece will
Posted by dylan398 on 22nd of Jun 2011 at 09:29 am
I also agree greece will default....just a matter of when.....this Shibor thing in China has me worried more. It cost's 8% to borrow money for 1 week, i can't beliece liquidity is drying up there.
Greece will default - only
Posted by racer999 on 22nd of Jun 2011 at 09:26 am
Greece will default - only a matter of time.
July 1st
Posted by rslph on 22nd of Jun 2011 at 09:25 am
Thanks Robert,
It is always good to hear the opinion of people closer to the situation. It seems to me that this market has been preparing for this and the end of QE2 since February. Any other information you can supply is appreciated.
Ralph