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The Greek Endgame is Now
For weeks, Greece has been saying that they will run out of euros by mid-October. On October 14th, Greece has a 2 billion-euro interest/note redemption due. While it is a major assumption to believe Greece on their finances, we have to take seriously that they won’t have the funds to make the payment. This is why they approved a series of austerity measures to try to meet the criteria set by the Troika of the IMF/EU/ECB to get the next tranche of bailout money. On Monday and Tuesday of this week, EU finance ministers met and discussed what options were needed to aid Greece, what actions were needed to provide ... (full story)
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Pity the fool who thinks they'll make it overnight...
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