Grexit18 Jun 2015 11:09
Globo now has an insignificant stake in the Greek economy although some investors consider it a Greek company and influenced by the Greek economy; not so.
It seems clear to me that Greece will NEVER be able to repay its creditors and the sooner it officially defaults, we can, and they can, all get on with our lives. The current Government is acting in accordance with the direction of its electorate and cannot accept terms dictated by Europe if those terms are not acceptable to the electorate; there will be no time to put any "agreement" to a referendum. Don't forget that it was the Greeks who founded democracy (demokratia), and it is following the basic tenets of democratic government by keeping its promises made at election time; other governments please follow!
I believe that there will be a short termed stock market hiatus when Greece defaults but this will be followed by a surge as the elephant is seen to have left the room and things can return to normal. I remain a strong buy on the fundamentals here and its future prospects. Rant over!