Today, May 11, the Greek government is reporting that it will make a 750 million euro payment due to the International Monetary Fund tomorrow, May 12, by the deadline. That leaves Greece facing a terrifying payment schedule of another 1.5 billion euros to the IMF in June, 3 billion euros to the European Central Bank in July, and another 3 billion euros to the ECB in August.
Today, May 6, the European Central Bank threw Greece a very thin lifeline by extending an extra 2 billion euros in emergency liquidity to Greek banks
I’ll excuse anyone who thinks this coming week won’t see the last act in the Greek debt crisis. But the country faces a daunting list of deadlines that could mark a final climax in the drama
The U.S. dollar is up today to end a decline that stretched back to April 14. In that period the Dollar Index (DXY) has dropped 4.2%
Since the Syriza government is faced with a very real possibility that it could be forced to hold new elections if gives ground at all on plans to increase the minimum wage and restore pension cuts, today’s browbeating of Greek Finance Minister Yanis Varoufakis by EuroZone finance ministers meeting in Riga seems counterproductive or at best pointless.
Today the German government raised its projections for economic growth to 1.8% for 2015 and 2016. That’s an increase from earlier projections of 1.5% in 2015 and 1.6% in 2016
On Monday the Syriza-led national government ordered local governments to move cash reserves to the national central bank. The measure gives the Greek government about 2 billion euros in new cash
A day with no news can be a meaningful indicator of the underlying trend in an asset and I think that’s what we’re seeing today with the dollar. I think we’re seeing the end of the euro bounce
The European Central Bank’s 1.1 trillion euro program of asset purchases, which began in March, hasn’t so far ended the EuroZone’s deflation worries
