During the last year structural reforms have taken place in Greece. While these reforms are noteworthy, they have been little noted by markets and the political world in general. the country continues to undergo a painful adjustment and the challenges stemming from unfavourable debt dynamics and a debt overhang issue are still in place. Greece has to adopt significant structural reforms in order to keep existing!
Tuesday, December 21, 2010
Thursday, January 21, 2010
The Germans are back.. By Ektoras
Athens, Greece might look like the focus of the first euro crisis, but the real center is northwest in Berlin, Germany.
Sunday, December 13, 2009
Ok..downgraded..now what? by Ektoras
Fitch's move is important because it’s the first downgrade of a Euro-zone sovereign into the territory where securities were not eligible for the European Central Bank (ECB)collateral until their temporary change of rules in response to the crisis; an arrangement in place until the end of 2010. Unless the ECB fiddles with its rules before the end of next year, Greek sovereign bonds will no longer be eligible for ECB collateral - if Moody's or S&P downgrade them.
Thursday, May 7, 2009
Memories..by Ektoras
Smells like 1999...But I am not sure if this is the first or the second half of the year..
Friday, April 24, 2009
Dancing on a Volcano By Ektoras
Greece is on the brink of bankruptcy. Even the public sector is not in position to pay its obligations on time.
Monday, December 29, 2008
The Double or Nothing Scenario (where the "nothing" scenario seems to be the only realistic!) by Ektoras
Deflation seems to be the major threat right now. Reviewing history, suggests that the world suffrered deflation two times. The first time was during the 1930's and the second time was during the 1990's in Japan. We are likely to see the third time but the major difference this time is that all governments make tremendous efforts in order to reinflate the economy. This brings us against two scenarios.
Saturday, November 22, 2008
$700 Bn not enough? What about $5 trillion? What...still not enough?
This time I will be brief and its one of the few times that I will allow myself the empathy-induced weakness embedded when arguing morals.
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