'EU Has Not Yet Faced the Whole Sad Truth About Greece'

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'EU Has Not Yet Faced the Whole Sad Truth About Greece'

Written by From spiegel.de

Wednesday, 22 February 2012 11:12

'EU Has Not Yet Faced the Whole Sad Truth About Greece'

At first glance, the euro-zone finance ministers' agreement on a new bailout for Greece seemed like a decisive step that would save the country from default. Politicians had no shortage of praise for the deal, reached in the early hours of Tuesday morning after marathon talks in Brussels. But as analysis of the deal began, concerns over its effectiveness also started to grow. Many observers see the rescue package's targets as overly optimistic. There are doubts that Greece will really be able to get back on track for growth and reduce its public debt from the current level of over 160 percent of gross ... (full story ^[1])

Feb 22, 2012 1:19pm (42 min ago) Quote ^[2]


1,488 Posts ^[3]

How true, but EU still have to contend against FED who is trying to prop up Euro. A double whammy for Europe!!!!! They should have just let Greece default then fight against FED, now they have not got much ammo left to fight apart from relying on their FinMin farting here n there.

Feb 22, 2012 1:29pm (31 min ago) Quote ^[4]

LTRO and cheap lending artificially keeping markets up.

Feb 22, 2012 1:38pm (22 min ago) Quote ^[5]

( Joke of the 2012 )Many observers see the rescue package's targets as overly optimistic. There are doubts that Greece will really be able to get back on track

Feb 22, 2012 1:45pm (16 min ago) Quote ^[6]

Greece is burnt toast! Thugs are setting the fires as we speak! I'm afraid It will spread around the world this summer.

Feb 22, 2012 1:50pm (10 min ago) Quote ^[7]

1:11 (Dow Jones) "Over time, there's upside risk to the euro, so assuming the LTRO goes well, the euro will be between $1.35 and $1.40 within three months," says Steven Englander at Citi. The LTRO is the ECB's discount loan program for banks. "The LTRO has reduced the risk of the worst outcome and that is strongly priced in," he said. "The bad news is well known but is there good news to come?" If so, the common currency could see stronger gains than it did Wed, when it mustered only a slight move higher at $1.3248 from $1.3235 late Tue, according to EBS via CQG.

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