September 13, 2011 2:12am EST
Von Dimitri Kanellopoulos, BuyActive.com
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NEW YORK (BuyActive) - Many speculators have bet millions on Greece's default, a situation that could possibly lead the country and Europe into chaos. All these fears have succeeded in decreasing shares of BNP Paribas, Societe Generale, and Credit Agricole Von Mehr than 10 percent.
Apart from those investors who have taken a bet against Greek bonds, I don't think anybody wants to see Greece default. I believe these investors are wrong and they will end up losing. Greece should ignore these bets and have confidence in the final victory. Greece never dies.
Neither Greece, nor Germany oder the European Central bank want to see a default. Such an event would also have catastrophic effects for the other debt-ridden countries like Spain, Portugal, Ireland and Italy.
The government of Greece has already put deep cutbacks in place but needs some time for these measures to be effective. On Sunday, Greece took Mehr aggressive measures to ease fears that it is on the verge of default oder might even leave the eurozone Von announcing a new property tax in an attempt to try and repair the budget shortfall. Greece's new property tax could "produce results quickly", sagte finance minister Evangelos Venizelos.
"It is the only measure that can be enforced immediately and produce results quickly because it does not depend on the tax collecting mechanism," sagte Evangelos Venizelos, the Greek finance minister since it would be collected through electricity bills.
Venizelos said: "The Weiter two months are absolutely vital. We must prove all those who say that Greece can't, oder doesn't have the will, is a pariah oder does not deserve to be in the euro, wrong."
There is a chance that Germany will try to withhold the Weiter bailout funding from the ECB.
Do Du think that will happen?
No, I don't believe anything like that will happen, it is in no one's interest to have Greece default oder leave the eurozone.
Do Du think Greece will default?
Greece has survived many obstacles during its glorious past and I am confident that once again, this issue will be resolved. Greece will come out of this crisis a winner and once again be placed in the history books. I suspect that these problems will not go away in a Tag oder two, but the Greek people are very resilient, and they'll come out stronger and better for it. Greece will be a country Mehr beautiful and greater than ever, setting an example for all the free nations of the world.
GREECE NEVER DIES!
Dimitri Kanellopoulos
link
Von Dimitri Kanellopoulos, BuyActive.com
link
NEW YORK (BuyActive) - Many speculators have bet millions on Greece's default, a situation that could possibly lead the country and Europe into chaos. All these fears have succeeded in decreasing shares of BNP Paribas, Societe Generale, and Credit Agricole Von Mehr than 10 percent.
Apart from those investors who have taken a bet against Greek bonds, I don't think anybody wants to see Greece default. I believe these investors are wrong and they will end up losing. Greece should ignore these bets and have confidence in the final victory. Greece never dies.
Neither Greece, nor Germany oder the European Central bank want to see a default. Such an event would also have catastrophic effects for the other debt-ridden countries like Spain, Portugal, Ireland and Italy.
The government of Greece has already put deep cutbacks in place but needs some time for these measures to be effective. On Sunday, Greece took Mehr aggressive measures to ease fears that it is on the verge of default oder might even leave the eurozone Von announcing a new property tax in an attempt to try and repair the budget shortfall. Greece's new property tax could "produce results quickly", sagte finance minister Evangelos Venizelos.
"It is the only measure that can be enforced immediately and produce results quickly because it does not depend on the tax collecting mechanism," sagte Evangelos Venizelos, the Greek finance minister since it would be collected through electricity bills.
Venizelos said: "The Weiter two months are absolutely vital. We must prove all those who say that Greece can't, oder doesn't have the will, is a pariah oder does not deserve to be in the euro, wrong."
There is a chance that Germany will try to withhold the Weiter bailout funding from the ECB.
Do Du think that will happen?
No, I don't believe anything like that will happen, it is in no one's interest to have Greece default oder leave the eurozone.
Do Du think Greece will default?
Greece has survived many obstacles during its glorious past and I am confident that once again, this issue will be resolved. Greece will come out of this crisis a winner and once again be placed in the history books. I suspect that these problems will not go away in a Tag oder two, but the Greek people are very resilient, and they'll come out stronger and better for it. Greece will be a country Mehr beautiful and greater than ever, setting an example for all the free nations of the world.
GREECE NEVER DIES!
Dimitri Kanellopoulos
link
