Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

New Euro Zone crisis?

Reply
chas
Regular Contributor
Bottom line. We do not know what the refrendum question is. The Greek stock market has fallen 90% in 3 years,over 50% of people employed in Greece is by the state. Bottom line the Greek politicians have been doing nothing about the economy - now the rest of us - have to wait while these idiots decide how they want to sort out the mess that they created!!!!!!
0 Kudos
chas
Regular Contributor
Oops change of plan by the Greek Gov - refrendum cancelled!!!!!!!!!
0 Kudos
Wino
Super Contributor
The PM was silly as he should have known the gamble won't pay off. Sarkozy and Merkel are not weaklings and they put their foot down hard. So, if he did not retract he would have lost his job which might still happen come Friday. The deal is not great for them as the haircut, when one drills through the numbers, is only about 21%, but that is what they get. Greeks do not want to leave the euro, it has meant much for their prosperity so now they have to knucle down and get through it. But, as other posters have said, Greece is not the real problem. Lurking in the shadows is Italy (bond rates already at 6.06%)the other europeans and maybe even the USA. So, bottom line, expect much volatility and trade the price. Longer term, expect the so called double dip, as my bones tell me, this debt crisis will be around for a long time yet.
0 Kudos