The Greek crisis for a little while had investors wondering its long term ramifications. As it was expected European stocks fell a little as the drama unfolded. But following the EU's announcement that money had been sent to Greece the markets are back up. http://www.cnbc.com/2015/07/20/european-markets-greece-reopens-banks.html European equities started the week higher Monday as Greece reopened its banks and talk in Europe turns to the country's third bailout and measures to ease its debt burden. The pan-European Stoxx 600 was trading around 0.4 percent higher by mid-morning. Britain's FTSE 100 was up around 0.3 percent higher, the French CAC saw a 0.7 percent pop while the German DAX was trading over 0.6 percent higher.
All that money is just money thrown down the drain. I have a very strong belief that we will find ourselves talking about Greece and their massive debt once again in the near term future... possibly as early as next year.
Yep, we're still kicking the can down the proverbial road. Unless we see some significant structural change and not just short-term band aids we're going to be having similar conversations in coming months and years.
I couldn't agree more. All the EU have done here is put off the inevitable in my opinion. Instead of standing up to Greece and being strong, we've just made the problem twice was bad now because immsure when it comes round again to repaying the loans, we'll no doubt have to go through all this again. The more debt Greece owe the more stricter the terms are going to have to be well, in theory anyway because at the moment it's doesn't matter about the terms of an agreement, Greece aren't meeting them and getting away with it anyway.
With the new agreement Greece is now honoring the debt, so the markets have to be happy. For how long remains a question to be seen.
Their mentality is stiff. They aren't accustomed to working much, and paying so many taxes surely spreads a lot of hatred toward the Government. I agree with Tsipras, he took the least disastrous decision out of two. As to how much this situation will last... we'll live and see.
Yes they paid back what they owed. But essentially they paid the ECB and IMF with money they got from the ECB. Quite simply this was just the regular "take a new loan to pay back an old loan" scenario, except obviously the new loans were larger than the old one.
Yeah, history often repeats itself. Those who go about things the wrong ways and don't do what is needed to actually fix their problems generally screw up over and over.
Greek bailout talks have been delayed (again). Yep, this silly story will keep rolling along in an unreliable fashion. There will still be investment opportunities, mind you.
Especially when the screw up rarely affects them (on a long term view) as someone else is ready to pay for the damage. Greece has defaulted several times and yet someone is always willing to loan money to them...
