In which John explains the Greek debt crisis, which has pushed the Greek government close to defaulting on its loans, the reasons why the Euro zone and the IMF are desperately trying to bail Greece out, and what the rising cost of sovereign debt means for the massive budget deficits throughout the developed world.
Thanks to Karen Kavett at http://www.youtube.com/xperpetualmotion for the illustration.
Financial markets across the world have continued to experience serious volatility amid a worsening debt crisis in Europe sparked by the downgrading of Greece’s massive debt to junk status. Athens has asked the European Union and IMF for more than bn to help bail the country out of its economic problems. Many analysts fear the crisis could trigger the downfall of other vulnerable economies in the eurozone. Jonah Hull reports. [April 29, 2010]
April 9 (Bloomberg) — John Brynjolfsson, chief investment officer at Armored Wolf LLC, talks with Bloomberg’s Carol Massar and Matt Miller about Greece’s debt crisis. European Union officials said they are ready to rescue Greece if needed as Fitch Ratings cut the countrys credit rating to the lowest investment grade and economists at UBS AG said that a bailout may be imminent. (Source: Bloomberg)
March 26 (Bloomberg) — European Central Bank Executive Board member Lorenzo Bini Smaghi talks with Bloombergs Betty Liu about the International Monetary Fund’s involvement in a plan to assist Greece with its fiscal crisis. Leaders of the 16-nation euro region endorsed a Franco-German proposal for a mix of IMF and bilateral loans at market interest rates, while voicing confidence that Greece wont need outside help to cut Europes biggest budget deficit. (Source: Bloomberg)
Feb. 15 (Bloomberg) — Thomas Byrne, senior vice president at Moody’s Investors Service in Singapore, talks with Bloomberg’s Bernard Lo about Greece’s debt problems. (Source: Bloomberg)
In which John explains the Greek debt crisis, which has pushed the Greek government close to defaulting on its loans, the reasons why the Euro zone and the IMF are desperately trying to bail Greece out, and what the rising cost of sovereign debt means for the massive budget deficits throughout the developed world.
Feb. 15 (Bloomberg) — Thomas Byrne, senior vice president at Moody’s Investors Service in Singapore, talks with Bloomberg’s Bernard Lo about Greece’s debt problems. (Source: Bloomberg)