1- The IMF warned on Tuesday that global growth prospects have dimmed as the sovereign-debt crisis in the euro zone has entered a “perilous new phase.”
2 - The euro is falling against the dollar on worries that Greece might not reach a deal with its creditors. A deal is needed in order for Greece to receive its next bailout payment and avoid a default. A default could hurt Europe's financial system and trigger a financial panic around the world.
Much of the theatrics over the last several months have been deliberately handled - with what's touted as weekly salvation plans followed by new angst - to give big money handlers time to move assets to plan b and plan c investments so that the impact is reduced when the inevitable happens.
Unfortunately, the inevitable is gonna happen a lot sooner than the planners think and it will have very nasty short term consequences.
Stay tuned...
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