Monday, December 14, 2009
How about Greece?
Last week, we heard that Greece had a new austerity plan. Today none other than Ambrose---"I see a crisis everywhere and it'll always be worse than what I see" Evans-Prichard, said Greece could devalue its currency, switch from euros to drachmas and "restructure" foreign contracts. Wait--they won't be able to follow Dubai's plan....but heck, I'll tell the world that Greece is throwing in the whole "kitchen sink." Just to be an alarmist.
At the same time, the Greek premier George Papandreou said, "Salaried workers will not pay for this situation: we will not proceed with wage freezes or cuts. We did not come to power to tear down the social state."
But Citi's view on the Greek banks is rather sanguine. Asset price increase will sweep all the problems under the rug.
But if they fix the problems in Dubai's desert, don't you think they'll fix Greece's problems?
Because last time I checked, people want to live there!
Greek Banks--- Home Work
Posted by Palmoni at 7:34 AM