A country that is bankrupt should borrow at 3%?
The debt/GDP ratio at 175% is almost double the level at which Reinhardt/Rogoff have argued sovereign debt becomes unsustainable!
From Eureka Hedge Fund Monthly Leter
A country like Greece pays to Troika 3% interest
what should they pay in normal conditions? 10% to 20% yields?
at least.
Greece has been subsidized for too long. That is the reason they are with this debt load. If they pay market priced they would not be in this position. It would be very expensive.
what to do.
Nothing, zero. !
let them ask for something concrete.
Europe should not move. Nada. Zero.
Let them beg
Sometimes i think what is the most demanding religion on earth? I guess to be a Muslim is pretty much demanding and time consuming (twice a day prayers, etc...)
What is the most growing religion on earth , the most demand or the less demanding?
I think the Euro would be much more strong and reliable if sometimes some member would be kicked out
I am thinking of Greece
I refuse to join any club that would have me as a member.
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