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Greece outstanding debt has a cost of 5% a year. If they get new loans at 5% by the EU this wont solve anything, 5% plus the 113% level of debt to GDP got them in this problem. It will provide liquidity and prevent the 5% from going to 6%, so it appears that they are kicking the can down the road

Tiger finished 4th, that wont pay for this week groceries but I'm happy with the bet. The 5-1 was clearly too cheap, it appears that the cheating scandal little effect on him. Next major I might have to fade him as the tiger hysteria might come back

Funny, Joe Stiglitz went from laughing at the chance of Greece going under a few weeks ago to start considering that seriously http://www.bloomberg.com/avp/avp.htm?N=av&T=Stiglitz%20Calls%20IMF%20Rescue%20of%20Greece%20`Sad'%20for%20Europe&clipSRC=mms://media2.bloomberg.com/cache/vNEkcbJl_drE.asf

Its a matter of the heads of state being impeached or being thrown out by their congress if they break the law for misappropriation of public funds. Heck, maybe even jail time. They certainty would be saying goodbye to reelection

Tiger tied for 2nd at -5. Odds down to 2.4-1, the man can play

I suspect there is no authority for most countries. Why would a blank check be avaliable for those presidents and prime ministers to bailout countries if when the EU started this was actually a concern?They might have to ask for the authorities ala Bernanke Paulson 2008, this would take time

Are you aware of any authority those goverments have to actually deliver funds to Greece?That is something that I havent read about, as far as I know they would have to submit legislation to their congress or get the IMF to lend the cash

ZH used to be great when they were focusing in delivering paid research for free online. Its a shame they changed, must have been the lawsuits

Soros says 'lets kick the can down the road' http://www.bloomberg.com/avp/avp.htm?N=av&T=Soros%20Says%20Greece%20Should%20Pay%20Concessionary%20Rate%20on%20Loans&clipSRC=mms://media2.bloomberg.com/cache/vQHMwShVSEd0.asf I'm not sure how this solves the problem if they stay on the Euro...

It doesnt provide comfort only to the extent that you are seeing a massive V shaped recovery that forecasters are not. They are telling us in advance what they will do given the likely data, so yes I'm comfortable. Also the economy is allowed to surprise to the downside too(double dips and all)

Ok, but what they are saying is that if the Fed economic forecast(which doesn't seem to materially differ from Blue Chip economists) plays out, they dont raise. So in order for them to raise, we will have to see some kind of economic boom coming out of nowhere. You have talked up this economy...

FOMC members who moved markets in 2009 http://macroadvisers.blogspot.com/2010/04/which-fomc-members-moved-markets-most.html This is an interesting chart http://3.bp.blogspot.com/_CT4aRzYk2JY/S732tlFhWMI/AAAAAAAAADQ/T9f83l7OLVM/s1600/WMM09F6.jpg It shows that the net effect of Fed...

Don Kohn apparently just made 'extended period' useless 'Although the FOMC has stated that the federal funds rate is likely to remain exceptionally low for an extended period, this statement explicitly depends on an economic outlook similar to the one I have given today. We cannot provide a...

I put some lunch money on Tiger. He is 0 after 7 holes, leader at -5, go tiger

Good idea, the 'gauchas' rock!

Interesting article. Greece has a bigger debt to gdp(almost double) compared to Hungary, so I'm not sure where soros is getting his optimism from. I think this guy is right, the IMF will make a mistake again, the pressures to not let the first ship go down are great

This guy raises similar points http://www.cnbc.com/id/15840232?video=1463236939&play=1 Says EU could be headed to a Japanese scenario as Trichet printing press is out of ink. Soros has said the greeks werent in a big trouble because Hungary also faced a worse problem and they were able to...

I remember Bill Gross saying that the cost of financing GDP cant be greater than the return of GDP, this seems to make sense. The Greece situation seem to be tough to solve €265b GDP €300b Gov debt €13 interest costs(5% cost) With their debt at 7% they are in a death spiral since...

According to Greenlaw "Excluding the effects of bad weather and Census hires, we estimate that payrolls rose by 14,000 in March versus +71,000 in February and +5,000 in January. "

Greece seems to be pulling a FRE FNM here, the EU announced the bazooka, now they might just have to fire it http://www.bloomberg.com/apps/quote?ticker=GGGB10YR:IND http://www.bloomberg.com/apps/quote?ticker=GGGB2YR:IND The thing is, they are already loaded with debt, an IMF or EU loan...