Greeks Rejected By IMF And Russia

Greek hopes of an extension to pay 747 million Euros after May 12 are rejected by the IMF. Christine Lagarde states that no payment delays have been granted by the IMF in the last 30 years. And that it is the job of Greek financial ministers to carry on the tedious work of restoring the Greek economy. It is not done by a political last minute agreement. Christine Lagarde lays out the … [Read more...]

ECB Preparing For Grexit

Peter's Commentary: The Germans are getting mighty tired of Greece. Especially with their World War 2 Reparations talk. A poll published by Germany's YouGov.de showed that public opinion has turned against Greece dramatically during the last month. The number of Germans in favor of a Grexit rose from 48% to 59% in the last 30 days according to an online survey of 1012 people. If Greece does … [Read more...]

Greeks Threaten To Use Plan B

Peter's Commentary: The Greeks are pushing hard. They want a new agreement with the euro zone. The Greek Defense Minister Panos Kammenos threatened that they could always look somewhere else for help. "What we want is a deal. But if there is no deal - hopefully (there will be) - and if we see that Germany remains rigid and wants to blow apart Europe, then we have the obligation to go to Plan … [Read more...]

Fearing a Grexit, Greeks Buy Gold

Peter's Commentary: This is why gold has been money for over 5000 years, whatever Bernanke says. When you're worried about your own currency, you buy gold as insurance. Greeks Buy Gold Again From ZeroHedge, Tyler Durden, February 9, 2015 It never fails: Every time redenomination risks and the specter of the (New) Drachma rear its ugly heads, Greeks, like dutiful Austrian economists, … [Read more...]

ECB Takes Hard Line With Greece

Peter's Commentary: The ECB called the Greeks bluff today. From Reuters, Paul Taylor, February 4, 2015 The European Central Bank abruptly canceled its acceptance of Greek bonds in return for funding on Wednesday, shifting the burden onto Athens' central bank to finance its lenders and isolating Greece unless it strikes a new reform deal. The move, which means the Greek central … [Read more...]

How and Why Greece is Bluffing

Are the Greeks really going to do a Grexit (Greek Exit)? I've read several news stories in the last three days about Greece leaving the euro. Also about Russia being prepared to consider lending funds to Greece if asked to do so. However this story makes the most sense. From Sproutmoney.com, February 1. 2015: The new left-wing government hasn’t wasted any time and at a press … [Read more...]