Greece

Greece is in a difficult situation — no doubt about that. Pictures of the public rioting on the streets paints a scene of a population driven to extremes by hardship and rightly generates considerable sympathy. But there is another side to this story, one the Germans in particular have come under a lot of criticism […]

{ 1 comment }

Continued from Part One. According to the Telegraph, over 100 German ship funds have already shut down as the crisis in global container shipping comes to a head, while 800 more funds are threatened with insolvency, according to consultants TPW in Hamburg. In the UK, Britain’s oldest ship-owner, Stephenson Clark, dating back to 1730, went […]

{ 0 comments }

The Baltic Dry Index (BDI) usually steals the headlines when it comes to discussion of the world’s shipping fleets, and is often quoted when analysis of the global economy refers to international trade. The Dry Index is a measure of bulk shipping rates and although the Baltic Exchange quotes a range of vessel sizes and […]

{ 1 comment }

Another week, another Euro deal. This time, Spain has secured a $125 billion bailout of its essentially bankrupt banking system, saving it from the consequences of the construction bust – for the time being. But the cost will essentially be passed on to the country’s sovereign debt, exacerbating Spain’s other problem: how to stabilise the […]

{ 0 comments }

Presentations at the Harbor Aluminum Outlook conference tend to lean towards technical forecasts for aluminum price, inventory levels, and production costs for aluminum. However, equally important are glances at the bigger macroeconomic picture. And this year, the European debt crisis takes center stage, just over China’s growth declines, and Ed Meir of INTL FCStone, a […]

{ 0 comments }

Continued from Part One.  The euro is the second most liquid currency in the world after the US dollar, accounting for nearly 40 percent of all daily trades. After that, liquidity in alternative currencies drops sharply, with the yen present in 19 percent of trades, pounds sterling in 13 percent and, the recently popular commodity currency, […]

{ 0 comments }

Markets have been driven down this year on fears of a Greek exit from the Euro, but two quick questions: would it really be so bad?   And what would the likely outcome be of a Greek reversion to the drachma? The euro has not suffered as badly from the debt crisis as the landslide of media coverage […]

{ 0 comments }

Investors are a funny lot. The phrase “herd mentality” may have been created to describe the behavior of our four-footed friends, but it applies equally well to the investor fraternity. For months, the prospect of a slowing China and the departure of Greece from the euro have been on the cards, prompting some no doubt […]

{ 0 comments }

Continued from Part One. Although its government finances don’t look so bad relative to Italy’s, Spain has the potential to go the way of Ireland, where relatively low government debt ballooned as the state was forced to bailout banks. As with Ireland, the problem will be the property market; in Spain’s case, it is the […]

{ 1 comment }

Continued from Part One. Across Europe, figures understandably vary. Whereas Germany and France’s jobless rates held steady at 5.7 percent and 10 percent, respectively, Spain’s hit 23.6 percent in February, up from 23.3 percent in January and Greece’s was at 21 percent in December — since then, the authorities have been unable or unwilling to […]

{ 0 comments }