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George Liu
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I am the Chief Financial/Economics Columnist of The Daily Political Review, a Monitored Contributor for FOREXPROS, a Seeking Alpha Certified Contributor, as well as a paid blogger for The Motley Fool Blog Network. I also currently serve on the Board of Directors for Ureka Co. Currently, I am... More
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  • Some Good Developments From Greece? 0 comments
    Aug 12, 2012 6:47 PM | about stocks: GREK, EUO, FXE

    Pinch me. I must be dreaming.

    According to Reuters, Greece managed to shrink its January-July central government budget deficit to 13.2B euros, below the 15.98B euros a year ago and the target of 14.83B euros.

    However, it should be noted that the central government budget deficit is NOT the general government deficit, which is used as the benchmark for the EU's assessment of Greece's fiscal performance and will be one of the main driving forces behind further bailout funding for Greece from the IMF and the European Stability Mechanism (ESM). So yes, this development is nice and all but the figures that truly matter have yet to be released.

    Stocks: GREK, EUO, FXE
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