Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Standard & Poor’s Ratings Services lowered Greece’s credit rating one notch further into junk territory on Tuesday, saying Prime Minister Alexis Tsipras is threatening the country’s economic stability by sending creditors’ latest proposal to a public vote. The country’s long-term credit rating was lowered to “CCC minus,” from “CCC.” The ratings agency said it now…
The threats are flying fast and furious now. Moments after the WSJ quoted a Greek official as saying that Greece will not make its IMF bond payment, the ECB struck back when Bloomberg reported that the ECB would review the legality of Greek aid should there not be a deal, i.e., on July 1 post…
The following article seemed a perfect example of how stability breeds both complacency and boils the broth of insatability… VIX spiked massively today to above 17.5… And asNicole Foss via The Automatic Earth blog explains, A sleep-walking market is a reflection of complete disregard as to risk. Markets enter such periods of complacency when there…
Updated June 28, 2015 7:30 p.m. ET ATHENS—On the Acropolis hill, hundreds of tourists braved the Greek sun on Sunday as they walked toward the Parthenon temple, pausing in awe at the ancient marble ruin, many of them oblivious to the different kind of ruin threatening modern Greece. But Greece’s unexpected call for a July…
U.S. markets are buckling a bit but not breaking from the Greek debt crisis in early trading as U.S. investors push U.S. shares down about 1% after selloffs in Asia and Europe. It’s not surprising that stocks fell sharply in Asia and Europe to kick off the trading week after Greece shuttered its banks after…
While the Greek Stock Market remains closed, ADRs trade around the world and National Bank of Greece – theoretically the strongest and least ELA-exposed (although still a disaster) – is trading down 24% in US markets on extremely heavy volume… This is a new record low… Average: Your rating: None Average: 5 (2 votes) National…
ATHENS, June 29 Greek banks are expected to open 850 branches for the payment of pensions on Thursday, though they remain shut for other business all week, a Greek government official said on Monday.The official, who spoke on condition of anonymity, said that if banks continued to be supported by the European Central Bank’s emergency…
Good news – some Greek bank branches will re-open sooner than expected. *GREEK OFFICIAL: 700 BANK BRANCHES TO OPEN THURSDAY FOR PENSIONS Bad news – only pension withdrawals are allowed in limited size. *GREEK PENSION WITHDRAWALS WILL BE LIMITED TO EU240: OFFICIAL Party’s over. Average: Your rating: None Average: 5 (4 votes) Greece Will Open…
In as brash an instance of lying propaganda as we have seen recently EU President Jean-Cleaude “when it’s serious you have to lie” Juncker unleashed 6 minutes of unabashed falsehoods this morning as the fearmongering and blame-shame-game for Greece begins. He proclaimed that “pension cuts were not in the creditors proposals” which as many pointed…
The yen gained against the euro in Asia Monday after emergency Greek debt talks fell apart over the weekend, enhancing the Japanese currency’s allure among risk-averse investors. The euro took a tumble after Greek Prime Minister Alexis Tsipras made a call to hold a referendum on July 5 on country’s debt conditions, followed by news…