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ECONOMICS – FINANCE – WORLD NEWS – GREEK DEBT

Central banks and money and guns

Just in: the chairman of Cyprus Popular, the country’s second largest banking group says Cyprus needs $6bn in financial aid.

In the UK, George Osborne decide to inject £100bn into the economy. Note: this is not QE, but a support program for the British economy. At the heart of it: an incentive to improve loan conditions, which could fund up to £80bn new loans they say. read article

The news come just as the UK’s trade deficit rose by £1.4bn from April to May, mostly because of decreasing exports to the European continent (-6.8%). read article

Meanwhile, central banks all over the place are waiting in the wings for some coordinated easing action, which may or may not be accelerated by the potentially disastrous outcome of Sunday’s Greek elections [Headline of the day: Central banks reach for their guns over Greek vote].

On that note, here’s Alphaville’s FAQs for Sunday’s electionsread article

But MarketBeat reminds us:

The bottom line is the crisis won’t come to a screeching halt after Sunday’s elections, no matter who wins.

WHAT?! But I got all excited…

Moody’s cut the rating of all big Dutch banks and issued a warning on Greece. And here I was thinking that ‘Greece’ had finally become its own rating class below which there is nothing… read article

Elinor Ostrom, the first and only woman to ever win the Nobel Prize in Economics died on Tuesday afternoon from cancer. She was 78 years old. She received the Nobel Prize that she shared with Oliver Williamson in 2009 for her work on economic decision making outside markets. Project Syndicate published one of her last research articles on Tuesday afternoon. read article

From the Harvard Business Review: Ireland vs Spain, not in terms of soccer but economic similarities read article

Weekend reading:

An article that is all the hype on nerdy opinion pages and economics blogs: Are You With the Dumb Money or the Smart Money?

Otherwise, there will be the obvious fun thing to watch. No, not soccer, I mean the Greek elections. Unless you’re Mexican, in which case you’re probably set to engage in some early G20 protests for Monday’s meeting, which promises to be something like an enlarged eurozone summit.

Have a good weekend!

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2 Responses

  1. princess1960 says:

    thank you for the post….is usefull and believe me i don’t need to read others’…ok political yes.. NOW ..i will make one comment for all because is the same problem ..BANK NUMBER’S for short term (fix problem) print money —open busisneses (invest) down unemployment -move cycle money with tax ..and the numbers ..(inflation ) will be in same standart with product in begining ..after get power the economy there can give money to the busineses with high intres this need time 2-3 y…the situation can not find solution just with plan A B MARSHALL AND AND needed acction..fast ..or wwwwww
    have a nice weekend

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