Comments on: Europe Needs Action Not Words From The Greek Finance Minister

By: tdasher22

tdasher22 — Mon, 11 Jan 2010 16:02:00 +0000

As unreliable and changeable as Greek government statistics may be, satisfying the EU commission can be somewhat of a moving target as well. Seems to me that the ball is clearly in the court of the Greek government, though, and the Greek people are the ones who stand to suffer if their leadership can’t pull their act together. Familiar story…

By: Financial News: 2009-12-22 | TheTradingReport

Financial News: 2009-12-22 | TheTradingReport — Tue, 22 Dec 2009 22:20:58 +0000

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By: Financial News: 2009-12-22 - Credit Writedowns

Financial News: 2009-12-22 - Credit Writedowns — Tue, 22 Dec 2009 19:36:26 +0000

[...] Europe Needs Action Not Words From The Greek Finance Minister | Edward Hugh [...]

By: Alex

Alex — Mon, 21 Dec 2009 00:17:42 +0000

Well that’s settled; Ambrose Evans-Pritchard is reliably wrong.

By: Twitted by afoe_tw

Twitted by afoe_tw — Wed, 16 Dec 2009 14:08:51 +0000

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By: Edward Hugh

Edward Hugh — Wed, 16 Dec 2009 09:30:33 +0000

Hi Henrik,

Basically, as you say (rather diplomatically) “AEP has never been afraid of being very direct, and perhaps he simplifies the argument a little”, but yes, he is scratching around in the right area here. We need a common fund, and we need national bailouts, and inflation (to burn down some of the debt), but first we need clear signs from Southern Europe that they are willing to make strong changes, otherwise the game will never get started, and the whole thing will not work. Which would be very bad news for everyone (ie North/South/East and West).

By: uberVU - social comments

uberVU - social comments — Wed, 16 Dec 2009 08:43:16 +0000

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By: FT Alphaville » Blog Archive » Further reading

FT Alphaville » Blog Archive » Further reading — Wed, 16 Dec 2009 08:28:28 +0000

[...] On the reliability of Greek government economic [...]

By: Henrik Holleufer

Henrik Holleufer — Wed, 16 Dec 2009 04:55:22 +0000

Dear Hugh, Another excellent article, thank you. A slightly different and more blunt take on the Greek situation was to be found in The Telegraph. Here Ambrose Evans-Pritchard argues rather convincingly, that Greece has passed the tipping point of a debt (and death) spiral, because of the hugh debt/GDP ratio (currently 113% but expected to rise to 135/140% in 2 years), and that unless Northern Europe is willing to make big transfers of funds (not loans) for many years to come, Greece will simply go bust or be forced to leave the EURO, so they can default on their debt, now denominated in “New Drachma”, and devalue their way back to competetiveness. Now AEP has never been afraid of being very direct, and perhaps he simplifies the argument a little, but do you basically agree with his analysis ?