Greece…in holiday…but still in doldrum

Posted: August 17, 2015 in greece

Greece suddenly disappeared (again) from the world financial headlines.

But rest assured that it will reappear….my best guess is November/December.

The bailout has been approved, but at least 35 Syriza rebels are thinking to create their own party. Definitely not in August as everybody is at the beach! The bailout vote was approved with 118 (but if Syriza get a non confidence vote they would have failed as they need 120)

This would probably create a Greek government crisis in September / October and then to an election.

Greece is just not made for Europe. It is just there to keep the Euro low and favour the German.

By the way…Germany is the one that gained (yes gained) most from the Greek crisis since 2010. As everyone ran for cover they bought German Bunds and so driving German interest rates low ….so they saved Euro 109 billion (3% of Germany GDP) ( Leibniz Institute of Economic Research), call them stupid!

So next time the crisis hit, they could let it go…as they made more money than if Greece defaulted on the entire debt.

Long live the Fourth Reich!

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