I am short euro here. We have too much hope around Eurozone. And everybody knows that Greece will be bankrupt soon and will default.
- #594,585
- Feb 13, 2012 11:00am Feb 13, 2012 11:00am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
New voice message: Why are you calling me? If I need you, I'll call you!
- #594,586
- Feb 13, 2012 11:01am Feb 13, 2012 11:01am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
keep sl as close as possible, it could go both ways, long is a possibility, but not if it goes lower then open. Short is more difficult,at least to my opinion
I still can't see any longs yet...maybe i'm wrong though...so i'll leave my shorts open until further notice
COT: The precious data ignored
- #594,593
- Feb 13, 2012 11:12am Feb 13, 2012 11:12am
- | Joined Apr 2011 | Status: Trader | 1,152 Posts
MMMYYYKKK
- #594,596
- Feb 13, 2012 11:18am Feb 13, 2012 11:18am
- | Joined Apr 2011 | Status: Trader | 1,152 Posts
MMMYYYKKK
- #594,597
- Feb 13, 2012 11:20am Feb 13, 2012 11:20am
Home »Business» Greece was better defaults.
.... THE AGONY ...
Greece was the best default
Economists explain why the recovery is impossible.
Gaea Scancarello
. The composition of public debt in Athens (click to enlarge).
. Five financial maneuvers, 1 million unemployed (20.9% of the population), 12 points lost gross domestic product (GDP), public debt nailed to 160% of the national wealth, deficit stable at 10% and gross minimum wage precipitated at 580 euros.
The results of three years nursing sick Teutonic Greece accounts made up, out of control government spending and low productivity are enclosed in compelling realism of numbers that tell of an endless crisis.
To resolve it, Europe and the International Monetary Fund have put on the plate a new loan of 130 billion euros (to be added to the 110 delivered between 2010 and 2011), in exchange for draconian cuts in social and sacrifices, to which the same Parliament has partly opposite.
IMPOSSIBLE RESTORATION. Yet, while Syntagma still burns with anger, doubt that the aggressive treatment of Athens is the wrong way even begins to touch unexpected neoliberal grown between national banks and the halls of the International Monetary Fund (IMF).
"At best, after saving, there will be a period of calm, after which you will find that the reduction of salaries and pensions has exacerbated the recession," wrote Wolfgang Münchau, economist and founder of the newspaper Financial Times Deutschland, on the columns of London newspaper. "And then we will need new styles. But politics could not afford more. "
Unsustainable debt in a decade and growing almost impossible
(
LaPresse) Prime greek Lucas Papademos.
. By the explosion of the Greek crisis, then become debt crisis and then the entire Eurozone, government of George Papandreou and Lucas Papedemos accepted the impossible conditions imposed by the Troika of international creditors (European Union, European Central Bank, International Monetary Fund ) just to avoid an uncontrolled default and retain a place within the EU.
But with 65 billion of wealth evaporated in four years (on a GDP that is worth a total of 300) and 150 000 people made redundant only in the civil service by 2015, the Greeks have ceased to believe that staying in the EU is the solution to their problems .
Does not add up. On the other hand, if the economy through fiscal austerity were to bear fruit (like, however, not happened in the past two years), the ratio of debt to GDP of Athens assesterebbe to 120 by 2020; the same current level of the Italian one, judged unsustainable. To say that a decade of sacrifices could not produce some results.
Not only: the lack of money and labor, caused by the cuts, the credit crunch and the reduction of public spending, is unlikely to boost economic recovery. Exhausted the supply of liquidity provided by the Troika, then Greece might again be unable to pay its debts, as scaled by the agreement with creditors. And the cycle would reopen again.
RESTRUCTURING WRONG. "Any policy to keep Greece into the euro or the EU would have to be made on other grounds, a well-made debt restructuring and growth policies. But it did not happen, "he told Lettera43.it Giuseppe Pennisi, Italian economist and former director of the International Labour Office. "The negotiations on the debt was in fact carried out only with the private creditors, which are less than 50% of the total. And moreover risking further the hedge funds that bought the debt for two hours and can earn money. " Not only that: "The growth has been totally forgotten. Who has ordered a reorganization, and who has passively accepted because he knew that he fudged accounts first. "
The risk of a civil derives the Germany of 30 Years
( Reuters) Athens clashes outside parliament.
. In short, the first Greek policy has blatantly lied to gain acceptance in the European Union. And now, to stay, compelled its citizens to draconian measures that probably will push the country into the abyss of hunger. And what of the violence.
Athens burned Sunday, February 12, while the government is crumbling and the Troika incassava yet another cause in the name of the single currency and EU cohesion.
THE STATE OF NEW IN ELECTION IN APRIL. The risk, however, is that in April 2012, when the country will return to the polls, the new majority may choose not to respect its commitments, given the very low rating of the citizens. In that case, the 130 billion rescue of the nation and the sacrifices made so far have been thrown away.
With internal and external consequences. On the one hand, Portugal, which attempts a difficult recovery after the rescue in May 2011, could suffer the backlash of the markets, with a surge in yields on their bonds impossible to sustain.
But more frightening is the internal risk to Greece, already overwhelmed by civil unrest unprecedented since the end of the regime of the Colonels.
"In 1929 to overcome the crisis, German Chancellor Hermann Müller dismissed the state and killed 5 million unemployed. In so doing gave Germany to Hitler, "summed Elvio Del Bosco, for 30 years of official research center of the Bank of Italy. "To keep Greece in Europe we are forcing them to terrifying and measures risk creating a monster."
Monday, February 13, 2012
.... THE AGONY ...
Greece was the best default
Economists explain why the recovery is impossible.
Gaea Scancarello
. The composition of public debt in Athens (click to enlarge).
. Five financial maneuvers, 1 million unemployed (20.9% of the population), 12 points lost gross domestic product (GDP), public debt nailed to 160% of the national wealth, deficit stable at 10% and gross minimum wage precipitated at 580 euros.
The results of three years nursing sick Teutonic Greece accounts made up, out of control government spending and low productivity are enclosed in compelling realism of numbers that tell of an endless crisis.
To resolve it, Europe and the International Monetary Fund have put on the plate a new loan of 130 billion euros (to be added to the 110 delivered between 2010 and 2011), in exchange for draconian cuts in social and sacrifices, to which the same Parliament has partly opposite.
IMPOSSIBLE RESTORATION. Yet, while Syntagma still burns with anger, doubt that the aggressive treatment of Athens is the wrong way even begins to touch unexpected neoliberal grown between national banks and the halls of the International Monetary Fund (IMF).
"At best, after saving, there will be a period of calm, after which you will find that the reduction of salaries and pensions has exacerbated the recession," wrote Wolfgang Münchau, economist and founder of the newspaper Financial Times Deutschland, on the columns of London newspaper. "And then we will need new styles. But politics could not afford more. "
Unsustainable debt in a decade and growing almost impossible
(
LaPresse) Prime greek Lucas Papademos.. By the explosion of the Greek crisis, then become debt crisis and then the entire Eurozone, government of George Papandreou and Lucas Papedemos accepted the impossible conditions imposed by the Troika of international creditors (European Union, European Central Bank, International Monetary Fund ) just to avoid an uncontrolled default and retain a place within the EU.
But with 65 billion of wealth evaporated in four years (on a GDP that is worth a total of 300) and 150 000 people made redundant only in the civil service by 2015, the Greeks have ceased to believe that staying in the EU is the solution to their problems .
Does not add up. On the other hand, if the economy through fiscal austerity were to bear fruit (like, however, not happened in the past two years), the ratio of debt to GDP of Athens assesterebbe to 120 by 2020; the same current level of the Italian one, judged unsustainable. To say that a decade of sacrifices could not produce some results.
Not only: the lack of money and labor, caused by the cuts, the credit crunch and the reduction of public spending, is unlikely to boost economic recovery. Exhausted the supply of liquidity provided by the Troika, then Greece might again be unable to pay its debts, as scaled by the agreement with creditors. And the cycle would reopen again.
RESTRUCTURING WRONG. "Any policy to keep Greece into the euro or the EU would have to be made on other grounds, a well-made debt restructuring and growth policies. But it did not happen, "he told Lettera43.it Giuseppe Pennisi, Italian economist and former director of the International Labour Office. "The negotiations on the debt was in fact carried out only with the private creditors, which are less than 50% of the total. And moreover risking further the hedge funds that bought the debt for two hours and can earn money. " Not only that: "The growth has been totally forgotten. Who has ordered a reorganization, and who has passively accepted because he knew that he fudged accounts first. "
The risk of a civil derives the Germany of 30 Years
(
Reuters) Athens clashes outside parliament.. In short, the first Greek policy has blatantly lied to gain acceptance in the European Union. And now, to stay, compelled its citizens to draconian measures that probably will push the country into the abyss of hunger. And what of the violence.
Athens burned Sunday, February 12, while the government is crumbling and the Troika incassava yet another cause in the name of the single currency and EU cohesion.
THE STATE OF NEW IN ELECTION IN APRIL. The risk, however, is that in April 2012, when the country will return to the polls, the new majority may choose not to respect its commitments, given the very low rating of the citizens. In that case, the 130 billion rescue of the nation and the sacrifices made so far have been thrown away.
With internal and external consequences. On the one hand, Portugal, which attempts a difficult recovery after the rescue in May 2011, could suffer the backlash of the markets, with a surge in yields on their bonds impossible to sustain.
But more frightening is the internal risk to Greece, already overwhelmed by civil unrest unprecedented since the end of the regime of the Colonels.
"In 1929 to overcome the crisis, German Chancellor Hermann Müller dismissed the state and killed 5 million unemployed. In so doing gave Germany to Hitler, "summed Elvio Del Bosco, for 30 years of official research center of the Bank of Italy. "To keep Greece in Europe we are forcing them to terrifying and measures risk creating a monster."
Monday, February 13, 2012
give 1 and get 100
- #594,598
- Feb 13, 2012 11:21am Feb 13, 2012 11:21am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
No worries
I still can't see any longs yet...maybe i'm wrong though...so i'll leave my shorts open until further notice
New voice message: Why are you calling me? If I need you, I'll call you!
