Inquiring minds are making note of the current state of affairs in Greece. Here is a quick 10-point synopsis. Current Sorry State of Greek Affairs Greece did not meet the IMF's criteria for more aid The Greek government is collapsing The Greek prime minister threatened to resign An emergence meeting of the Greek Parliament could [...]
IMF "Ready and Willing" to Throw Away More Money; 10 Point Summary of Sorry State of Affairs; Market Repeatedly Calls Foolish Bluffs by IMF, ECB
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Jun 162011
ECB Governor Christian Noyer Warns "Default Would Mean Financing the Entire Greek Economy"; 10-Year Yields at Record High; Emergency Session Underway
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Jun 142011
ECB Governors are pouring on the sap once again today. Mario Draghi, likely the next ECB president opposes steps that aren’t "purely voluntary." The irony being there is no such thing at this point of a "pure voluntary" restructuring. Meanwhile Christian Noyer, warns that a default would mean "financing the entire Greek economy.” Emergency Session [...]
Who Should Head the IMF?
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Jun 122011
Three candidates are touring the globe in their effort to become the next head of the IMF. I believe it is a shoo-in for French finance minister Christine Lagarde but two other candidates have their hat in the ring. Israel's Stanley Fischer Announces Bid to Head the IMF Mexico's IMF Candidate is Agustin Carstens Lagarde [...]
Greece Flunks Troika Report, Financial Reforms at Standstill; 5th Payment on Hold? Expect IMF "Nose Job"
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Jun 082011
On May 28 Greek Finance Minister George Papaconstantinou went into a temper tantrum over an article in Der Spiegel that stated Greece missed its financial targets. Papaconstantinou noted the report was not even out yet adding, "I have every reason to believe they will end positively for our country and that we will receive the [...]