New Democracy are currently at 1.11 to lay. As that is based on the rural results that have been counted so far, I reckon it could drift out when the votes from Athens are counted, as there are expected to be a higher proportion of Syriza voters in Athens.
Jeff
Eurozone debt crisis
The Experiment Has Failed. Are You Ready? - http://www.zerohedge.com/news/guest-pos ... -you-ready
Interesting article...
Jeff
Interesting article...
Jeff
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
the years of fantasy economics are coming to an end.Ferru123 wrote:The Experiment Has Failed. Are You Ready? - http://www.zerohedge.com/news/guest-pos ... -you-ready
What’s funny is that the 20-year average of Italian 10-year bond yields since 1993 is 5.9%. They’re currently priced at 6.06%. Italian bond yields aren’t spiking, they’re just reverting to the mean. The real spike hasn’t happened yet.
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
clever bloke is NF.Ferru123 wrote:Viewpoint: Why the young should welcome austerity - By Prof Niall Ferguson
http://www.bbc.co.uk/news/world-18456131
'Western democracies are going to carry on in their current feckless fashion until, one after another, they follow Greece and the other Mediterranean economies into the fiscal death spiral that begins with a loss of credibility, continues with a rise in borrowing costs, and ends as governments are forced to impose spending cuts and higher taxes at the worst possible moment.'
Jeff
when the PIIGS are wiped out attention will turn to the real pigs... the UK and the US.
i've got plenty of respect for the Germans. yeah they were stupid to ever countenance the Euro folly, but at least they are the only western country exhibiting any kind of common sense in the current crisis. everyone else is just calling for more and more reckless bailouts, stimulus etc., etc.
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mulberryhawk
- Posts: 165
- Joined: Thu Oct 29, 2009 12:37 am
Ferguson is talking up his book, all hes interested in is the "rise of China" and the decline of the west......we`il see.
wheres the common sense in any of that
yea that sounds like a really productive solution, lets just wipe out these countries and their populations and wealth which account for over 50% of world gdp. never mind about the social consequences.when the PIIGS are wiped out attention will turn to the real pigs... the UK and the US
Is that the folly that has locked 17 european nations into a common currency with germany where the germans can take advantage of the situation to run a trade surplus year on year? sounds like a good deal to me.i've got plenty of respect for the Germans. yeah they were stupid to ever countenance the Euro folly
Is that the "common sense" thats forcing their eurozone partners to contract their economies at a suicidal rate, resulting in plummeting gdp, skyrocketing borrowing costs, depression levels of unemployment, banking collapse, cascading debt dynamics that can only end in default.they are the only western country exhibiting any kind of common sense in the current crisis
wheres the common sense in any of that
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
more debt isn't going to solve their problems.mulberryhawk wrote:yea that sounds like a really productive solution, lets just wipe out these countries and their populations and wealth which account for over 50% of world gdp. never mind about the social consequences.
the Germans would have been successful in or out of the Euro.mulberryhawk wrote:Is that the folly that has locked 17 european nations into a common currency with germany where the germans can take advantage of the situation to run a trade surplus year on year? sounds like a good deal to me.
no choice. they have to stand on their 2 feet sooner or later. more bailouts etc. only buys more time while the debt gets higher and higher.mulberryhawk wrote:Is that the "common sense" thats forcing their eurozone partners to contract their economies at a suicidal rate, resulting in plummeting gdp, skyrocketing borrowing costs, depression levels of unemployment, banking collapse, cascading debt dynamics that can only end in default.
wheres the common sense in any of that
btw, i don't want anyone to suffer or get wiped out (other than bankers maybe!).
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
what you fail to appreciate is that, before the debt-fuelled artificial 'boom', the PIIGS were relatively poor countries. their economies were only temporarily transformed by massive unsustainable spending and house price booms. no amount of bailouts can alter the fact that they can't compete with Germany on a level playing field. the PIIGS will go back to being what they were before the 'boom'.
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CaerMyrddin
- Posts: 1271
- Joined: Mon Sep 07, 2009 10:47 am
Can only speak for Portugal, but things will never be the same as they were before the 'boom' as you call it.
People have better education, and the country has a better organization with the new generation than with the previous.
That said, the real economy has been almost dismantled. Both agriculture and industry are much weaker now than before (although much more productive!). We can discuss debt and finantial problems, but our economy would need some years of protectionism to get fit again, what will never happen, I admit. There won't be a painless way out of so much debt, but the big problem to us is competiveness. Put both together and our prospects look slim...
People have better education, and the country has a better organization with the new generation than with the previous.
That said, the real economy has been almost dismantled. Both agriculture and industry are much weaker now than before (although much more productive!). We can discuss debt and finantial problems, but our economy would need some years of protectionism to get fit again, what will never happen, I admit. There won't be a painless way out of so much debt, but the big problem to us is competiveness. Put both together and our prospects look slim...
Big day in the financials today. Another potential flashpoint for trading. After Mondays relatively serene day there may be some fireworks this week later on on the fed conference.
It seems everyone is expecting the fed to come out with something. News has been negative all week and markets have risen on the expectancy of a stimulus announcement from the fed today. If it doesn't come........there will be blood!
Markets pretty sideways this morning. Expect everyone is sat on the buy/sell button awaiting bernankes comments.
Top that with ascot and trading both betfair and betdaq (I really struggled with this yesterday) and I am going to have a busy day. Coffee needed majorly!
It seems everyone is expecting the fed to come out with something. News has been negative all week and markets have risen on the expectancy of a stimulus announcement from the fed today. If it doesn't come........there will be blood!
Markets pretty sideways this morning. Expect everyone is sat on the buy/sell button awaiting bernankes comments.
Top that with ascot and trading both betfair and betdaq (I really struggled with this yesterday) and I am going to have a busy day. Coffee needed majorly!
I had drinks with this guy a few years ago, talked a lot of sense.
http://www.bbc.co.uk/news/business-18727928
http://www.bbc.co.uk/news/business-18727928
Nice!! I'm pretty sceptical of most of these economists predictions. Every week there seems to be a new one who has won some global prize for economics and says Greece will leave the euro imminently. It's been a year on and they are still saying it!Euler wrote:I had drinks with this guy a few years ago, talked a lot of sense.
http://www.bbc.co.uk/news/business-18727928
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
yeah but it's not just a political problem. the problems are fundamental ones and the debt is real.
politicians, and not just European ones, are trying to subvert market forces. such folly always fails in the end.