Eurozone debt crisis

[Euler]

The most urgent thing to be done at the moment is to restore confidence. So many businesses are adopting a wait and see approach at the moment but if they had confidence politicians were going to do something with conviction they would probably invest now.

[Ferru123]

New Democracy are at 1.36 to win in Greece tomorrow. The price has steamed in heavily, presumably due to a poll which suggested that they'd win by a couple of points. However, a critical analysis of that poll suggests that it is unreliable: http://teacherdudebbq.blogspot.gr/2012/ ... inion.html.

Therefore, perhaps New Democracy are a value lay at that price. IMHO, it's impossible to say whether the Greek people will opt for the devil, or decide they prefer the deep blue sea...

Jeff

[Ferru123]

Viewpoint: Why the young should welcome austerity - By Prof Niall Ferguson

http://www.bbc.co.uk/news/world-18456131

'Western democracies are going to carry on in their current feckless fashion until, one after another, they follow Greece and the other Mediterranean economies into the fiscal death spiral that begins with a loss of credibility, continues with a rise in borrowing costs, and ends as governments are forced to impose spending cuts and higher taxes at the worst possible moment.'

Jeff

[andyfuller]

New Democracy are at 1.36 to win in Greece tomorrow... perhaps New Democracy are a value lay at that price. IMHO, it's impossible to say whether the Greek people will opt for the devil, or decide they prefer the deep blue sea...

Jeff

Good call Jeff, very close on the exit polls, price is now 1.62 having hit 1.7.

3rd Election anyone? Will some parties join up?

[Ferru123]

Thanks Andy.

Jeff

Good call Jeff, very close on the exit polls, price is now 1.62 having hit 1.7.

[Ferru123]

New Democracy are currently at 1.11 to lay. As that is based on the rural results that have been counted so far, I reckon it could drift out when the votes from Athens are counted, as there are expected to be a higher proportion of Syriza voters in Athens.

Jeff

[Ferru123]

The Experiment Has Failed. Are You Ready? - http://www.zerohedge.com/news/guest-pos ... -you-ready

Interesting article...

Jeff

[superfrank]

The Experiment Has Failed. Are You Ready? - http://www.zerohedge.com/news/guest-pos ... -you-ready

What’s funny is that the 20-year average of Italian 10-year bond yields since 1993 is 5.9%. They’re currently priced at 6.06%. Italian bond yields aren’t spiking, they’re just reverting to the mean. The real spike hasn’t happened yet.

the years of fantasy economics are coming to an end.

[superfrank]

Viewpoint: Why the young should welcome austerity - By Prof Niall Ferguson

http://www.bbc.co.uk/news/world-18456131

'Western democracies are going to carry on in their current feckless fashion until, one after another, they follow Greece and the other Mediterranean economies into the fiscal death spiral that begins with a loss of credibility, continues with a rise in borrowing costs, and ends as governments are forced to impose spending cuts and higher taxes at the worst possible moment.'

Jeff

clever bloke is NF.

when the PIIGS are wiped out attention will turn to the real pigs... the UK and the US.

i've got plenty of respect for the Germans. yeah they were stupid to ever countenance the Euro folly, but at least they are the only western country exhibiting any kind of common sense in the current crisis. everyone else is just calling for more and more reckless bailouts, stimulus etc., etc.

[mulberryhawk]

Ferguson is talking up his book, all hes interested in is the "rise of China" and the decline of the west......we`il see.

when the PIIGS are wiped out attention will turn to the real pigs... the UK and the US

yea that sounds like a really productive solution, lets just wipe out these countries and their populations and wealth which account for over 50% of world gdp. never mind about the social consequences.

i've got plenty of respect for the Germans. yeah they were stupid to ever countenance the Euro folly

Is that the folly that has locked 17 european nations into a common currency with germany where the germans can take advantage of the situation to run a trade surplus year on year? sounds like a good deal to me.

they are the only western country exhibiting any kind of common sense in the current crisis

Is that the "common sense" thats forcing their eurozone partners to contract their economies at a suicidal rate, resulting in plummeting gdp, skyrocketing borrowing costs, depression levels of unemployment, banking collapse, cascading debt dynamics that can only end in default.

wheres the common sense in any of that