Monthly Archives: November 2012

‘Awesome’ is the word to describe the development of Greece’s current account!

‘Awesome’ is the word to describe the development of Greece’s current account during 2012. Below are the numbers: (in BEUR) January – September September 2011 2012 2011 2012 Revenue from abroad Exports 15,1 16,1 1,9 1,9 Services (e. g. tourism) … Continue reading

Posted in Uncategorized | Leave a comment

Wipe out all of Greece’s sovereign debt?

The Head of Business Treasury, Global Banking and Markets at Royal Bank of Scotland is quoted as follows: “They would try as much as possible to kick the can down the road with respect to Greek sovereign debt and if … Continue reading

Posted in Uncategorized | 2 Comments

Privatizations – reality or illusion?

The draft of the latest Troika-memorandum (MoU2) lists 34 transactions to be completed by the end of 2014. They break down into the following categories: Share deals: 15 Concessions: 11 Real Estate: 8 If the idea is to use the … Continue reading

Posted in Uncategorized | 11 Comments

A quick-and-clean solution the the Greek debt

Nowhere in the seemingly innumerable comments on the Greek debt do I see reference to those instruments which I have found to be key instruments in debt restructurings in my banking career: * variable interest rates* capitalization of interest * … Continue reading

Posted in Uncategorized | Leave a comment

IMF – a late vindication of Mr. Papandreou?

My understanding is that, back in late 2009 when it became clear that Greece’s Balance of Payments was headed for trouble, the newly elected Prime Minister George Papandreou wanted to go directly to the IMF for help. EU-elites, ever so … Continue reading

Posted in Uncategorized | 1 Comment

Germany & Greece – perhaps time for a marriage counsellor?

In this recent commentary, the editor of the Ekathimerini argues that it is time for a German move now because Greece does not have the time to wait for the next German elections in 11 months from now. A very … Continue reading

Posted in Uncategorized | 4 Comments

A video about Portugal (and Greece, too?)

I received this very impressive video, allegedly produced by Portugiese Conservatives with the aim of having it broadcast in Germany. Frankly, I was taken by the video. Thus, I sent it to a friend of Portugiese origin (now living in … Continue reading

Posted in Uncategorized | 3 Comments