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There is no deal on a Greek coalition government, says a presidential spokesperson, and a...

There is no deal on a Greek coalition government, says a presidential spokesperson, and a caretaker government will be appointed tomorrow, with elections likely in June. European shares are taking on water, the Stoxx 50 -1% after being in the green moments ago.
Comments (12)
  • Good thing we fixed the Greek problem months ago or else we'd have to worry about this.
    15 May 2012, 09:17 AM Reply Like
  • months..it was two years ago they said.....and two years from now we still will be bailing them out.....with food aid..
    15 May 2012, 09:24 AM Reply Like
  • Proves that greed still exists in socialistic states...
    15 May 2012, 09:35 AM Reply Like
  • What does this mean for the gyro?
    15 May 2012, 09:53 AM Reply Like
  • I'm staying short! EUR/USD 1.20.
    15 May 2012, 10:10 AM Reply Like
  • what ever happened to buy the rumour, sell the news...?
    15 May 2012, 10:31 AM Reply Like
  • Those that think that withdrawal from the Euro zone (i.e. abandoning the Euro and reinstituting a national currency) coupled with substantial default on the sovereign debt burden will lead small economies such as those of Greece, Portugal and Ireland quickly back to economic stability and prosperity (albeit after a year or two of deep depression) often cite the case of Iceland. The following report and commentary on the current Icelandic experience suggest that the recovery phase is protracted and complex.

     

    http://natpo.st/JsXYDh

     

    15 May 2012, 11:03 AM Reply Like
  • The EU leaders are getting dumber by the minute.

     

    A Greek default and departure can be managed. What can't be managed is the protracted deterioration of Spain, and the remaining EU, generally, while a Greek death watch is maintained endlessly, but with no lateration to the likely outcome.

     

    The EU should have advised Greece that no government formation and confirmation, right now, to abide by bailout terms means no further funding, period, now or later. Choose now: play ball or default.
    15 May 2012, 11:09 AM Reply Like
  • I completely agree. The whole Greek issue has become like an open sore that refuses to heal. It definitely WAAAAY past time where the major socialist countries in trouble need to decide what they want their future to be. (blank) or get of the pot!

     

    My favorite quote lately was from some Greek official when informed that the ECB was withholding the most recent bailout cash payment stated "that is completely unnecessary" after the elections. Really? You can't even form a government and the party that won the most votes states that default is an viable option and yet you still expect to be given 3 billion euros in payment? Now THAT is funny!

     

    To let this tiny, insignificant country cause this many economic problems is absolutely absurd.

     

    F---the Greeks and the horse they road into town on! Let them twist!
    15 May 2012, 03:15 PM Reply Like
  • The whole concept of a monetary and political union without fiscal equalisation or unified legal and taxation legislation is bizarre and unworkable. The very concept of a united Europe is under very real danger of imploding, and in my view needs at a minimum a major re/work.
    15 May 2012, 02:50 PM Reply Like
  • This is just joke - it was known since the elections that this would mean new elections would be necessary. I say let them default right now.
    15 May 2012, 03:15 PM Reply Like
  • The following article well and succinctly sets out the counter arguments to the comments of many that are frustrated by the Euro zone crisis and just want the Greeks to ‘go away’.

     

    http://bit.ly/KP0zFm
    16 May 2012, 11:14 AM Reply Like
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