Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
Faced with almost impossible choices… And just as promised earlier in the week, Greece has now passed the midnight deadline for repayment of the €1.6 billion bundled loans due to the IMF and in thus in default. As AP reports, Greece’s international bailout formally expires, country loses access to existing financing. Yes we are…
Submitted by Lance Roberts via STA Wealth Management, In yesterday’s discussion on the technical underpinnings of the market, I pondered the question of whether Greece was really the primary issue of concern for investors. “Whether, or not, a Greek exit from the Eurozone or a potential debt default is “the thing” that sparks the next…
Mere hours before Greece defaults on a loan repayment to the IMF and sees its bailout deal expire, prime minister Alexis Tsipras thought the time was right to launch a new offer to lenders. The Greek leader lodged a request with Dutch finance minister Jeroen Dijsselbloem, who also chairs the euro zone’s rescue fund, for…
Greece is heading towards a default on a debt payment due Tuesday, with investors fretting over the possibility the country could exit the euro zone. Meanwhile, a Greek media report has claimed that negotiations might restart between the government and the country’s creditors. We’ll have all the new developments for you as well as the…
Read MorePuerto Rico poses a ‘substantial threat’: Strategist The bad news doesn’t mean investors are giving up. Two bands of mostly hedge fund bondholders continue to put pressure on local officials. They still hope to come up with a deal that gives Puerto Rico the money it needs to fund its operating budgets and, at…
Withdrawals from cash machines in Greece are capped at just €60 a day The Greek government has requested a new bailout deal from the eurozone, just hours before its bailout expires and it must repay €1.6bn (£1.1bn) to the International Monetary Fund (IMF). Greece is reportedly asking for a new two-year aid deal from a…
The people of Greece are already feeling the pinch from the latest economic crisis. “My wife went to the supermarket,” says Greek political correspondent, Christos Michaelides. “She told me that most of the shelves were empty — especially those with pasta, especially those with rice. Also milk, eggs and a lot of canned foods like…
IN 2013 Alejandro García Padilla, the governor of Puerto Rico, did his best to tell the territory’s jittery creditors what they wanted to hear. He called servicing the American-controlled Caribbean island’s $72 billion debt load a “moral obligation”. He reassured holders of its general-obligation (GO) bonds that the government could not default on them even if…
ZURICH/LONDON Unusual public confirmation that the Swiss National Bank intervened to weaken the franc escalated its battle to rein in a currency whose strength amid Greece’s debt crisis is hamstringing an export-reliant economy.”We have always said that we are active in the foreign exchange market if necessary,” SNB Chairman Thomas Jordan said at a financial…
Greece… mattered!! The market be like… * * * It began as FX markets opened ugly in early Asian trading, but once stock markets started to open, the focus shifted there… Japan spanked… Nikkei 225 down 730 points from Friday’s close… China collapsed… When Europe opened it was ugly in stocks… …