Update on Greece
Greece, based on the size of financial support that likely will be required in the end, almost certainly can be supported by Eurozone partners
Today’s Detailed Commentaries prompted by world headlines
Eurozone >> Greece: Update on Greece
Yesterday German Finance Minister Woofgang Schaeuble is reported as having said that:
- Greece would not default; and,
- if Greece exited the Eurozone it would be negative to both Greece and the Eurozone.
An article published Saturday reported that:
- Greek Prime Minister Antonis Samaras said he expects Greece, the European Union and the International Monetary Fund to “bridge their differences on how to cut (Greece’s) debt” before this coming Thursday (October 18), the first of a two day European Summit meeting. Watch carefully to see if this timeline is met, because if it isn’t that may prove to be a ‘red flag’ signaling negative things to come; and,
- Athens has said Greece will “run out of money by the end of November if it doesn’t receive the 31.5 billion euro ‘next tranche of loans’ that it expects in exchange for a new set of spending cuts and reforms.
Read next: Carney continues borrowing binge in budget update
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Ian R. Campbell——Bio and Archives
Ian R. Campbell, FCA, FCBV, is a recognized Canadian business valuation authority who shares his perspective about the economy, mining and the oil & gas industry on each trading day. Ian is also the founder of Stock Research Portal, which provides stock market data, analysis and research on over 1,600 Mining, Oil and Gas Companies listed on the Toronto and Venture Exchanges.
Note: The Commentary and information above is provided ‘AS IS’ and solely for informational purposes, not for trading purposes or advice.