The fact that today is GROUNDHOG DAY means that we have to keep discussing Greece again and again. The alarms sound over the demands of Syriza’s and its leader Alexis Tsipras and his efforts to craft a NEW DEAL for Greece in relation to its creditors. Any debt or interest rate relief Mr. Tsipras can attain from the TROIKA would allow his ruling party to declare victory and also provide a template for renegotiation of all previous austerity measures to which European debt plagued nations agreed. (I am not making a qualitative judgment about the Greek restructuring but just raising the issue of the great uncertainty it will cause in currency and bond markets.)
Posts Tagged ‘Aussie/Kiwi cross’
Notes From Underground: A Well Respected Man About Town
February 2, 2015NOTES FROM UNDERGROUND: Little Boxes, Little Boxes (Our Tribute to Pete Seeger)
January 28, 2014While I have been on hiatus the financial markets have awaken to old problems and the damage to markets is real but the damage has been contained … for now. The concerns du jour are more of a political nature then economic but as this blog’s readers well know POLITICAL ECONOMY is the entire basis of NOTES FROM UNDERGROUND. What is political today will manifest itself economically and the opposite being true. Nothing illustrates this better than the current rage over income inequality, thus wealth creation is less significant than its distribution.