Greece

Marshall here. That was an impressive rally into the close in New York. Stocks ended up across the board. Yves Smith, who was off the grid today, asked “was there any news driving” the rally into the close or was it just tape painting.…

Jeff Sommers and Michael Hudson in Russia discussing the Euro future with journalist Matthew Lynn.

Greece’s chance of default in the next five years has soared to 98 percent. The day of reckoning is now close at hand.

David Blanchflower believes that Europe’s dithering has been fatal to the EMU. In an interview with Bloomberg Television, he said that Europe had an opportunity to get ahead of the sovereign debt crisis when it was just Greece. But now he…

The mood in Germany is still about cutting Greece loose to save Italy and Spain

Clearly, Stark sees the monetisation path the ECB is on as not at all compatible with thee ECB’s mandate. Separately, the noises coming out of the German governing coalition show exasperation with the progress in Greece. Edward Hugh writes…

The Greek tragedy in several acts would appear to be approaching a climactic moment. The warnings coming out of Berlin all week have been hard to ignore: “Greece either puts up or shoves off” would seem to be the blunt message being…

Markets continued to be dominated by the EZ sovereign debt crisis and the uncertainty surrounding key political events this month, which are likely to shape the market response in the months ahead. Of the key political events that take…

Dollar is mostly firmer against the majors as recent risk rally stalls; US NFP is major focus today. Euro zone jitters pick up after troika suspends Greek talks temporarily; Italy also back in focus. EM sentiment remains poor after Brazil…

The Greeks are starting to play hardball on their private sector debt swap warning the deal could crater if the 90 percent participation is not met. We think there are other reasons why it is trouble.