Did I hear that the Greece Govt has problems collecting tax form people particularly the richer ones?. If they cant sort that out no point in anyone pouring money into their economy. IMHO the new Govt needs to address their internal problems if any if they intend to find a permanent solution.Not sure how healthy was their economy before joining the Euro. I like the Syriza leaders talk about dignity.Hope he finds ways to restore good health to their economy, one of the essentials for good self esteem. Tomorrow is another day hope it will be a bright Monday! GLA
your right,it would be suicide,but some think that the new far left will call draghis bluff to try and re negotiate the existing bond terms,by another kind of haircut or similar,what ever happens,the bond market wont like it,the last time this errupted,their 10 year shot up to over 30% I think,then it caused a domino effect. ime stopping in bed tomorra.lol.
I would say they are bluffing. If they do that it would be just like committing a financial and economic suicide. At this moment, they have got nothing to be able to stand alone on their own. Their new currency will be worth nothing. They can't borrow, no one will buy their bond. Greek people will suffer much worse and it will be a disaster for the country.
The FTSE, DAX and Dow closed on Friday night -24; -45; -30 respectively. It's kind of normal after hitting a new height and doesn't look like expecting a big drop on Monday at all. But of course we have to wait and see how they open again at 11pm tonight and through the night.
We have the results or almost so,.Syriza has done it. What next , remains to be seen ! Reaction from other countries mainly the major European economies and Germany in particular would be carefully watched and evaluated by the market. Greece it seems has a debt of 175% of it's GDP. Expense exceed income by a mountainous proportion.Good luck to the new Govt of Greece. As for the markets it an anxious period, for how long , remains to be seen GLA
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.