Step 1, get bailout money, check. Step 2, wreck your economy in order to save it, that is what lies ahead for Greece but they have no choice. With the cheap cost of money that Greece will borrow money for the next 3 yrs, Greek market rates are falling both on the short end and longer end of the curve but European stocks and the euro are not getting any bounce as the bailout precedent now established is a dangerous one. It reminds me of the children’s book, If You Give a Mouse a Cookie, he’s going to ask for a glass of milk, etc… The austere measures that other countries will have to take too risks a slowdown in the euro region at the same time China tries to reign in their growth. Chinese reserve requirements will be raised by 25 bps to 17% and this comes after the prices paid component in a PMI index rose to near a 2 yr high. The euro zone is also China’s largest trading partner.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.