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Why Greece's Challenge Won't Go Away

June 01, 2017
Greece is stuck.  It has fulfilled nearly every demand of the official creditors.  Most recently, it agreed to cut some pensions and raise some taxes after the current aid package expires around the middle of next year.  
This agreement will free up the next tranche of payment so that Greece can make a large debt service payment (~7 bln euros) next…
Why Greece's Challenge Won't Go Away Why Greece's Challenge Won't Go Away Reviewed by Marc Chandler on June 01, 2017 Rating: 5
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A New Phase Begins

April 09, 2017
There were no celebrations; no horn or trumpets, nary a sound, but an important shift took place last week.The shift was signaled by two events.  The first was the US strike on Syria, and the second was investors' willingness to look past Q1 economic data.  
The US missile strike on Syria was significant even if it fails to change the dynamics …
A New Phase Begins A New Phase Begins Reviewed by Marc Chandler on April 09, 2017 Rating: 5
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Greece and the Return of the Repressed

February 10, 2017
Freud warned that unresolved psychological conflicts might be repressed but they keep returning.So too with Greece's debt problems.  A new crisis is at hand.  Investor nervousness is evident in the surge in the two-year yield this week, up nearly 100 bp.  The fact that the 10-year yield is up a more modest 10 bp, and minor losses in Greek stoc…
Greece and the Return of the Repressed Greece and the Return of the Repressed Reviewed by Marc Chandler on February 10, 2017 Rating: 5
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Greek Bonds may Soon be Included in ECB Purchases

December 06, 2016
The ECB does not include Greek bonds in its sovereign bond purchase operation.  However, the progress is being made, and it is possible that starting early next year, the ECB will buy Greek bonds.  
Greece Deputy Finance Minister Chouliarakis told the EU Parliament that a staff-level agreement is possible before the end of the year.  There are two …
Greek Bonds may Soon be Included in ECB Purchases Greek Bonds may Soon be Included in ECB Purchases Reviewed by Marc Chandler on December 06, 2016 Rating: 5
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