Greece strike under austerity as America faces sequester

February 21, 2013 By 3 Comments
20130221-173409.jpg

The threat of sequester in America is the first taste of austerity in the world’s largest economy. A microscopic version of what America faces is on show over in Greece, and the austerity measures are impacting every facet of Greek society. Strikes are commonplace as the latest round of protests as government workers did take part in the planned Anti-Austerity strike to show the people’s anger over the economic situation not showing any improvement but the continued decline of the economic situation. Greece did receive a second bailout package in December, but the citizens were placing hopes in the ease of austerity measures. The austerity still holds firm in Greece with high impact negatives in the country. America faces sequester, and this first round of austerity will be harsh as $85 billion in spending cuts will take place beginning in March. The truth is the slow spread of austerity in America will take longer and be more painful than Greece. Greece is much smaller with Europe … [Read more...]

Filed Under: Donny Wise Live in Personal Finance Tagged With: , , , , , , , , , ,

Europe and Spain is smaller blueprint for US debt crisis

April 8, 2012 By Leave a Comment
domino

The debt crisis is being played out publicly in Europe, and the play is country by country in the Euro Zone. The recent debt negotiation by Greece with its creditors was not enough to stave off any additional crisis in the short term. Spain's issues are now coming to the forefront in the sovereign debt crisis. Recent bond offerings by Spain have been received poorly. Refinancing of Spain's debt is essential to keep the country solvent in 2012, and the poor performance of Spain's bond offerings have moved this country solvency to the forefront. What does debt do in a society like Greece or Spain? Are we seeing the same impact in America? When is the tipping point for Europe and America? America is the world's reserve currency and dominates the world's financial system, and we are able to kick the debt can along longer without consequences being realized quickly as in the Eurozone. Basically, America can print more money if needed. It is unwise but a tool at the country's disposal. … [Read more...]

Filed Under: Article Content Future Publication, Uncategorized Tagged With: , , , , , , , , , , ,

Friday Finance: Happy 2nd Anniversary of Greek Debt Crisis

March 30, 2012 By Leave a Comment
Friday Finance: Happy 2nd Anniversary of Greek Debt Crisis

Political Will of Europe and America continues to flounder since Greece initial debt crisis 11:45 AM Posted by Donny Wise - EMPOWER4U   America refuses to restore fiscal sanity to finances of the federal government, and Europe does not have the resolve to resolve the debt contagion of it's nation states from spread across the continent. March 2010 was the first alarm of the debt risk in the near default of Greece on its public debt. The leaders of America and Europe was given a first test in political will, and the a measure of political will via a number score would be close to a zero as examiner of the first debt test. Greece did not resolve the dire situation of public debt burden in the Spring 2010, and Greece has flirted with the fringe of disaster via default threat and social unrest from implementation of austerity. Greece is the tiny explosion in monetary loss via a default, and the political will crisis of America and Europe is bringing the threat of fiscal … [Read more...]

Filed Under: Uncategorized Tagged With: , , , , , , ,

Countdown Greece: How long until next debt crisis?

March 19, 2012 By 2 Comments
Fira_Santorini,_Greece

The doubts on the financial solvency of Greece were made loud and clear in Europe. The insured bondholders were expecting a $2.5 billion payout in lieu of losses. The investors were searching high yields for new Greek bonds, the pricing on bonds in the post debt swap (default) were 40% lower than expected in parity with the Euro, and the IMF made a statement about the obligation of Greece to meet all requirements on the financing agreement including parliamentary action on reform. The reason for the swap and finance package was to restore Greece's ability to restore confidence and financial solvency. However, the confidence is faint and financial solvency is doubtful. Is the world's political leadership so fragile and so unable that deferring a default is wiser than cutting losses now? The ramifications of pushing the default into the future are grave for Europe, America, and the global economy. The future default of Greece would produce a more cataclysmic event than a default … [Read more...]

Filed Under: Uncategorized Tagged With: , , , , , , , , , ,

Breaking News: Greece debt swap passes, avoids default

March 8, 2012 By 2 Comments

Greece closes critical debt deal with creditors March 9, 2012 - 6:26AM Read later Ads by Google Debt Consolidation Online FreedomDebtRelief.com Owe $15,000 or more in debt? Resolve Debt in 24-48 months. Reasons to cheer ... A messy Greek default is now less likely. Photo: AFP Greece has reportedly taken another critical step in the fight to avoid a devastating default on its mountainous public debts after closing off a deal with private creditors. The deal, which required a minimum number of creditors to agree to accept losses on what Greece owes them, moves the nation closer to another $160 billion bailout package from the EU. Greek debt deal: How it works Before the final deadline passed for creditors to declare their interest in joining the deal, government officials said that more than 75 per cent of eligible bonds had already committed to the arrangement. Advertisement: Story continues … [Read more...]

Filed Under: Uncategorized Tagged With: , , , , , , ,

Greece loan deal, ADP jobs report is opportunity

March 8, 2012 By Leave a Comment

The American consumer is witnessing the trade-winds of fate as Greece default fears are easing, and collision course with the American economy seems to be avoided for now. The bond swap was dead in the water Wednesday morning until every commercial banking entity did accept the agreement of the swap, and momentum was brought into a swap. The momentum did ease jitters and pending disaster for the US economy. Even today, Greece seems optimistic on bond swap deal or the European moniker on "53.4% haircut on its debt. The bond swap is to shave $140 billion off the nations debt. The deadline is tonight at 8pm for at least 90% creditors to be in agreement of the swap.The final affirmative on the swap will spell relief for the American consumer. The economic recovery was gaining momentum in job creation, and consumer sentiment. The focus will be on tomorrow government jobs reports for the month of February. The  data shows economic strengthen as claims for unemployment still remain at … [Read more...]

Filed Under: Uncategorized Tagged With: , , , , , , , , ,

Breaking News: Greece may avoid default but forced out of EU

March 7, 2012 By 1 Comment

HOME» FINANCE» DEBT CRISIS LIVE Debt crisis: Live Royal Bank of Scotland and HSBC confirm they will participate in the €206bn Greek debt swap, joining a list of 30 banks holding 39.3pc of the bonds as markets steady ahead of 'default' deadline. Image 1 of 3 By Szu Ping Chan and Martin Strydom 7:45PM GMT 07 Mar 2012 463 Comments This page will automatically update every 90 secondsOn Off • 32 major banks to participate in Greek debt swap • Germany and Greece openly discussed Greek euro exit • Investors have until 8pm Thursday to participate in bond swap • European stock markets pare losses on calmer day of trading • Vince Cable: Britain lacks a coherent growth strategy Latest 19.45 However, Mr Schaeuble added that even though it may have been wrong for Greece to join the euro, the country had “100pc decided” that they wanted to stay inside the 17-nation … [Read more...]

Filed Under: Uncategorized Tagged With: , , , , , , ,

Now Greece brings default instead of debt swap

March 7, 2012 By 3 Comments

Updated at 6:29am: The threat of first sovereign default in modern times is because less the threat and more the reality. Greece Debt Crisis is coming a climax almost two years to the date that Greece Debt Crisis make global headlines. The confidence of achieving a debt swap agreement was almost certainy by the conversations of the Greek government until the last 48 hours. The reality of default will  have unknown consequences, because the crisis in confidence in the solvency in Europe and America. The hope is a last minute debt swap solution will be the resolution, and a default will be avoided. However, The reality is that the Greek variable makes any assurances not reality, and all options are in played in the debt swap game. Article Written 3/7/2012 at 12:15am: The fears of the markets in America on Super Tuesday are because of one country in Europe, Greece. This political high drama in Europe is the climatic conclusion on the future of Greece, Europe, and America as … [Read more...]

Filed Under: Uncategorized Tagged With: ,

America’s Europe Problem: FDIC reports improvement as Moody’s rebukes Greece.

March 5, 2012 By 4 Comments
european_crisis_spawns_u_s_fear-460x307

Only one small Georgia bank was closed by regulators on Friday bringing the total of bank failures to 12 for 2012 in comparison to 23 at this time in 2011. The reduction in bank failures alone states some improvement in the banking system in 2012, and the FDIC did affirm overall improvement in the banking sector in the recent release of the fourth quarter report. The report did show a broad improvement in the banking sector over 2011 including aggregate profits, reduction in number of banks troubled bank list, Deposit Insurance Fund continues to increase after going into the negative in 2010, and deposits did increase in the fourth quarter of 2011. The overall report does show a substantial improvement, but a collective sense of optimism will not be found to the dominant attitude. The FDIC did report improvement in the system, but one bank did fail on Friday to remind of the current economic frailty of the global economy. The global reminder of the precarious nature of the global … [Read more...]

Filed Under: Uncategorized Tagged With: , , , , , , ,

Greece Crisis is America’s (2010)

March 3, 2012 By 5 Comments
New-York-21 (1)

EXAMINER: GREECE CRISIS Posted by donnywise | Posted in Consumer and Banking Analysis | Posted on 01-05-2010 The downgrade on Spain by Standard & Poors did spark immediacy into a reluctant Chancellor Merkel in being proactive on behalf of Germany and the European Union (EU) to engage the International Money Fund (IMF) in joint negotiations to develop a three-year financing plan of around $130 billion euros or $170 billion dollars to ease the fiscal crisis of Greece. The decisive measures are easing concerns on the imminent default by Greece. The negotiations are with many obstacles to derail the process as Chancellor Merkel is taking steps that are very unpopular in Germany to bailout a country that has been dishonest in reporting figures and statistics to gorge on debt until this crisis point. In addition, the austerity measures in the massive cuts in the budgetary expenses of Greece must be agreed under the IMF and EU stabilization plan. The citizens of Greece are … [Read more...]

Filed Under: Examiner.com- DC Consumer and Banking Examiner, Uncategorized Tagged With: , , , , , , ,
Follow

Get every new post delivered to your Inbox.

Join 1,269 other followers