Now then, the Beeb are saying that Greece has failed to meet the requirements for the Euro aid package, which is undoubtedly true, but the Dutch press are saying that despite that, they don't actually need the package until end of november, having expected to need it in mid october.
It seems to me you could take this as;
- bad news that the Greek government hasn't yet made enough savings
or
- good news that they aren't burning up money as quickly as was expected
Obviously, the markets seem to be following the bad news.
Let's imagine that today a whole package of rescue measures were announced, plus a big emergency fund, plus recapitalisation of Europe's banks, plus Eurobonds etc. Would the markets then rise? Perhaps not; sentiment seems to be 'DOOOOOOOMMM' anyway and such a package, however humongous it may be, would probably be met with jeers of 'it's not enough!'
It seems to me you could take this as;
- bad news that the Greek government hasn't yet made enough savings
or
- good news that they aren't burning up money as quickly as was expected
Obviously, the markets seem to be following the bad news.
Let's imagine that today a whole package of rescue measures were announced, plus a big emergency fund, plus recapitalisation of Europe's banks, plus Eurobonds etc. Would the markets then rise? Perhaps not; sentiment seems to be 'DOOOOOOOMMM' anyway and such a package, however humongous it may be, would probably be met with jeers of 'it's not enough!'
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