President Trump wants negative interest rates, but they would be disastrous for the U.S. economy, and his objectives can be better achieved by other means.Continue reading
Tsipras is, of course, right; he had to call a referendum because the troika had delivered “an ultimatum towards Greek democracy and the Greek people.” Indeed, “an ultimatum at odds with the founding principles and values of Europe.”
The collapse of the Greek economy is fast approaching.
There’s a very high probability that it won’t be able to pay $1.8 billion owed to the IMF this month.
Both Tsipras and Putin are said to be talking about the options in dealing with inevitable possibility of a “Grexit”.
The local banking industry is already heating up from massive withdrawals.
Three days ago, Greece interior ministry admitted it won’t have money to pay its June obligations to the IMF. A sizable $1.8 billion needed to be raised and from the looks of it, nobody in the EU is willing to kick the can one more time.