20th September 2011
Global markets were rocked again yesterday as Europe contemplated whether Greece would be able to pay its debts.
The ECB postponed its decision to allocate Greece its next tranche of austerity until it finds out how Greece will change its fiscal plan in order to curb itsa huge deficits. Mass unemployment combined with huge deficits has once again brought the ugly default head to light. The fact the we are not further on a fiscal policy to start to correct this issue or at least provide confidence that they are doing something makes markets very gittery.
Beware Greeks baring gifts you might have to pay for them yourself.
Posted by Andrew Johnston
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