I remember where I was when I first heard Greece was in deep doo doo (at a depth not seen since The Treaty of Versailles). It was a Sunday. I was at the original DuPar’s at Third and Fairfax. I’d brought my NY Times. The front page said it all: Greece was behind with… Read More Musical Comedy
Dubai’s sovereign credit-default-swap spreads soared to their highest level in a year this week, amid concern about the terms of a debt restructuring by a state-owned conglomerate. There is increasingly shrill commentary arguing that Greece is the start of a far bigger problem. “A Greek crisis is coming to America”, blared the headline on a… Read More Sovereign-debt theories: Domino theory | The Economist
This morning I awoke to see this story on the front page of the New York Times. Basically, this is all due to Greece’s desire to gain inclusion into the EU. Membership requires achieving certain macroeconomic targets like budget deficits, rate of inflation, social welfare spending. They are basically the same kinds of economic targets… Read More Wall St. Helped Greece to Mask Debt Fueling Europe’s Crisis – NYTimes.com
The yield on 10-year Greek bonds blasted upwards by over 40 basis points to 7.15pc in a day of wild trading. Spreads over German Bunds reached almost four percentage points, by far the highest since Greece joined the euro, and close to levels that risk a self-feeding spiral. Contagion hit Portuguese, Spanish, Irish, and Italian… Read More Funds flee Greece as Germany warns of “fatal” eurozone crisis – Telegraph
QuantumTom 