Reeling from a vicious financial crisis that has cost them pensions and jobs, Greeks have been turning away in droves from the mainstream politicians they feel have let them down. Another political force is trying to tap the void, with blunt promises to "clean up" the country.
ATHENS, Greece (AP) -- Reeling from a vicious financial crisis that has cost them pensions and jobs, Greeks have been turning away in droves from the mainstream politicians they feel have let them down. Another political force is trying to tap the void, with blunt promises to "clean up" the country....
Morgan Stanley's Daniele Antonucci has a new note on Greece titled Greece: From Shake-Up to Shape-Up? It's the first note we recall seeing in ages that wasn't an analysis of the country's sovereign debt situation, or whether it would be forced to leave the Eurozone, or whether the latest bailout would be sustainable or not. The note is about Greece's, economy, and whether the light at the end of the tunnel might be coming into visibility. The answer is: Maybe.
BRUSSELS — EU chief executive Jean-Claude Juncker urged Greeks on Monday to back a cash-for-reform package rejected by their government, saying a ‘no’ vote in Sunday’s referendum would mean Greece was turning its back on the European Union.
Following a breakdown of talks between Athens and its creditors, Juncker delivered a withering criticism of the Greek government which called the referendum and which advised Greeks to vote against creditor proposals.
LONDON: German 10-year borrowing costs resumed a fall towards zero on Monday, with worries about Greece exiting the euro zone increasing demand for top-rated assets and with the ECB's bond-buying programme quashes yields. Yields were vanishing across the euro zone. Belgium became the sixth euro zone country to sell five-year bonds at a negative yield after Finland, Germany, Austria, the Netherlands and France. Demand was 1.68 times the offer, despite the average yield being minus 0.056 per cent.
Athens (AFP) - Greece stood Saturday on the brink of a make-or-break general election which could sweep the anti-austerity Syriza party to power and set the country on a collision course with its international creditors.
OTTAWA – The union representing lawyers working for Canada’s parliamentary watchdogs say a Conservative MP’s bill to compel employees in those agencies to disclose their past political activities will politicize the public service and risks “witch hunts” for partisan bureaucrats.
In the early hours of Saturday, Cyprus agreed to a "bailout" with the EU and IMF that is very controversial because it imposes an immediate one-time tax on everyone with money in a Cypriot bank before banks reopen on Tuesday (Monday is a holiday). The deal still needs to be passed by Parliament and that's not a sure thing.
Marc Chandler submits:Three separate developments underscore the risk aversion theme today: Disappointing Alcoa (AA) earnings to kick off the US earnings season, the continued snugging of Chinese rates, including a 50 bp hike in reserve requirements (for large banks), and new worries about the outlook for Greece.The EU has raised questions over the credibility of Greek macro-economic statistics after having revised its budget deficit