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|User Info||ECB Dissembles And Equivocates: Greece; entered at 2009-12-21 16:54:04|
Registered: 2009-03-09 avoiding yellow snow
Greece needs 40bn to close the gap. 20bn to look serious. on a GDP of 360bn they need to save (aka plug the dike on rampant bribery and corruption) about 10bn on public finances and get the rest (pro rata) from EU members as greenmail to keep Euro intact. Public expenses are about 90bn so it comes down to a 10% save. 10% is what you usually budget to pay public officials to do stuff for you.|
I doubt the eurotrash will let these bozos float. It will mean more pressure on the Euro, the countries will have to raise yields to get investors interested.
At the same time Fed also has to raise yields to get investors interested. Let the most indebted win.
2010 will be the year of the currency pimps.