For a video version of this commentary go to:
http://iia-kc.com/blog/media/video_commentary_111811/
Europe continues to have budget problems and concerns regarding all current members remaining in the European Union, and the potential impact on global economies and stock and bond markets is not subsiding.
Europe is increasingly serving as a counter weight to a growing stream of better U.S. economic news which are:
The European Union (EU) and various international financial organizations have been working feverishly to help Greece avoid a default on its sovereign debt. An agreement was reached that Greek bondholders would take a haircut and eventually only receive 50 cents on the dollar. Within days the Greek Prime Minister, Mr. George Papandreou, stated that he wanted to put the agreement up for a vote of the Greek citizenry. He has since backed down on this demand, but not after causing global financial indigestion.
Recent Posts