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Greece Is The Patsy For Europe’s Failure (And The Ordeal Is Far From Over)

Authored by Raul Ilargi Meijer via The Automatic Earth blog, I feel kind of sorry this has become such a long essay. But I still left out so much. You know by now I care a lot about Greece, and it’s high time for another look, and another update, and another chance for people to […]


Greece Is Fixed? – Bond Yields Crash To Lowest Since 2006

For the first time since 2006, Greek 10Y sovereign bond yields have plunged below 4.00%. The last few weeks have seen a veritable rush to grab that yield as GGBs plunged from 5.50% on Dec 4th to 3.98% today!! Of course, this 'signal' from the bond market is being heralded as proof that the worst […]


Kyle Bass Is Having A Bad Day – Greek Bank Stocks Crash To 16-Month Lows

Just over a month ago, Kyle Bass discussed why he was long effectively "long Greece." Bass penned a Bloomberg editorial in which the hedge fund founder and CIO called on the IMF to stop bullying Greece –  publicizing the fact that he is now effectively long Greece. Greek government bonds have performed reasonably well so […]


Greece Plans 30 Billion Euro Debt Swap As It Prepares For The End Of Bailouts

Greece is planning a 30 billion euros debt swap which will convert 20 existing bonds into 5 (or less) new issues in the next few weeks (although the exact timing remains uncertain). The bonds are expected to have similar maturities to the existing notes from 2023-2042. According to Bloomberg, the Greek government is planning an […]


Trump Meets Tsipras, “Evil” Awkwardness Follows

Besides the traditional and quite forgettable exchange of diplomatic pleasantries during the first meeting between President Trump and Greek Prime Minister Alexis Tsipras on Tuesday, there were two remarkable highlights. The first was that Trump said his administration had informed Congress of a potential arms sale to update Greece’s F-16 aircrafts. “This agreement to strengthen […]


Schäuble: Another Financial Crisis Is Coming Due To Spiraling Global Debt, “New Bubbles”

Following the disappointing for Angela Merkel and her CDU German election results, which propelled the populist AfD into Germany’s political establishment with 92 members of parliament, the first casualty was Germany’s finance minister, Wolfgang Schäuble, who in a few days will relinquish his long-held post and move on to the ceremonial role of Bundestag president. […]