Greece's Auditors Postpone Athens Visit

Greece is politically and economically bankrupt. Unemployment is 25% and destined to get much worse with the latest round of austerity measures. Worse yet, Greece is still encumbered by massive layers of bureaucracy that makes it difficult to get anything done. Yesterday, in a massive breach of security, Greek citizens stormed the defense ministry. This has German chancellor Angela Merkel willing to take a chance on a trip to Greece next week.

Russia rebuffed Cyprus’s request for a bailout loan as the euro-area nation sought to salvage talks in Moscow by wooing investment in its energy reserves. Russia is unable to provide loans and will instead consider making investments in the Cypriot energy industry, the island nation’s Finance Minister Michael Sarris said Thursday in an interview broadcast on Antenna TV. Sarris said he will have a later meeting with his Russian counterpart, Anton Siluanov.