Greek Debt Crisis:
Greece’s new leader and people have no interest in doing anything they can to pay off their debt. They want an easy way out. They want all or portion of their debt to be forgiven and they think they can change the way they govern and do business, but they have no plan or course of action on how this would happen. The new Greek leader has criticized the EU and Germany and blamed Greece’s problems on them to the point that is becoming difficult to take him seriously. Greece has two months to raise billions of dollars or the EU will no longer stand behind them. Greece has been in technical default for four years, the EU should step away and leave Greece to its own devices, instead of giving them any more money that will never be paid back when they finally do default.
Why Austerity Won’t Save Greece (2-19-15) Bloomberg Video
Merkel’s Coalition Unites in Criticizing Tsipras Speech (2-9-15) Patrick Donahue & Brian Parkin
Tspiras Taunts Germany, Reinforces Anti-Austerity Stance (2-9-15) Bloomberg Video http://www.bloomberg.com/news/videos/2015-02-09/opec-sees-u-s-cuts-in-lower-oil-supply-forecast
Swiss Franc De-pegs from Euro:
The Swiss Central Bank de-pegged the Swiss Franc from the Euro and lowered its interest rate to negative 0.75%. The Swiss are reacting to the European Central Bank (ECB) plans to print 1.1 trillion euros. They could no longer hold down the value of the Swiss Franc and keep it pegged to the rapidly de-valuing Euro.
FX Strategists on SNB’s Surprise Removal of Franc Cap (1-15-15) Bloom berg Video http://www.bloomberg.com/video/fx-strategists-on-snb-s-surprise-removal-of-franc-cap-pZ8iQwXERMyQ6dKC2nHr6A.html
One of the tools being used by central banks to combat deflation and improve exports is the de-valuing of currency, because a strong currency means that a nation’s export products are more expensive and a weaker currency means their exports are less expensive.
Currency Devaluations Are an Undeclared War (2-6-15) Simon Kennedy