Skip to comments.Stocks: Storm clouds continue to gather over Greece
Posted on 05/20/2012 10:44:07 AM PDT by Signalman
NEW YORK (CNNMoney) -- Facebook is finally public, but that won't solve Greece's problems.
Investors are likely to continue to bail out of stocks and continue the move into U.S. Treasuries and gold in search of safety as doubts over Greece's future in the eurozone continue to build.
Elections in Greece earlier this month failed to form a coalition government, and now the debt-laden country is under a caretaker government until the next election in June, which experts say will serve as a referendum on whether Greece stays in the eurozone.
Syriza, a coalition of leftist parties, is currently leading the polls. Syriza has vowed to fight austerity measures that are a condition for Greece to get the 130 billion bailout agreed to in March.
"If the pro-euro major parties fail to muster enough support to form a coalition and the radical left Syriza party and other anti-euro, anti-austerity parties secure a majority, the risk of a disorderly Greek exit from the Euro increases and could roil markets," said John Praveen, chief investment strategist at Prudential International Investments Advisers.
(Excerpt) Read more at money.cnn.com ...
So the recent election in France assumes major proportions.
The new French government being on the ‘disorderly exit’ Greek side.
If a new president gets elected to one of those countries and appoints a Reichsführer, we’ll know things are about to turn ‘ugly’.
Just cut Greece off at the knees, remove it from the EU, write off the losses, and move on. What’s the big deal already? All this drama over a puny basket case with 1/10th the GDP of Germany.
It’s the 300 billion in Euros that the banks will eat If the Greeks default...
The voters want a ‘growth agenda’, but what it means is they want to continue deficit spending. This will go on until they can’t borrow at rates which allow this to continue, then it will stop. The stop will be abrupt. Germany may as well consider their loans as gifts as they are not getting the money back. Then they will have the ‘austerity’ they are complaining about, except then it will be real austerity with no way out. Their voters are dreamers and fools, just like here!
It’s like losing a toe to flesh eating bacteria. Then you look at the legs (Spain and Italy) and realize they aren’t too healthy either.
Greece isn’t much bigger than one of our states....it’s not that big of a deal as some are attempting to make it.
Greece as Greece is not a big deal.
Greece as the first domino to fall IS a big deal, because Spain and Italy will be next.
Paging Sepp Dietrich....pick up the black courtesy phone
I will say again...that the Eu knew Of Greece, Italy and Spain when they merged these nations. This is no surprise to them. They knew the risk and there would be “collateral” damage as they welded their plans.
What they didn’t anticipate is 08’ when Paulson went before the Senate and cried someone had stolen the US cheese.
Now they’re all scrambling to make certain they can establish a “One World Economy” without the whole thing collapsing....and that’s what is the show we are watching.
Transfering monies electronically can be done in a heartbeat now and they are yanking and pulling money from one place to another. Just goes with the territory of what they’re attempting to accomplish..despite 08”...or perhaps even that too was part of the plan.