30,000 Greeks to get the BOOT - Eurozone Crisis

The New York Times: Reports that thirty thousand Greek public sector workers are to lose their jobs. The has been the idea for weeks folks, if not months, and they still have not got around to giving anyone the boot, its about time the Greek Government woke up, it should be making deeper cuts, the Greek public sector is bloated, worse that the liberal NYT, the Troika should demand at least 40,000 in the public sector get the boot, and no redundancy pay either, that comes out of the taxes paid by the rest of the EU. The Greeks will get OUR money because otherwise the Banks of France and Germany would default, in some respects the Greeks have a loaded gun at the head of the EU. At what point does the EU/IMF/ECB say to Greece grow up, that’s for the Government and the people, you have lived off the wealth of others, well its over, either make cuts or the EU will cut bait, this is harsh folks but life is harsh.

Greece and the Markets

Guardian Live: Reports that Stock Markets in the UK, France, Spain and Germany are down between 1% and 2%. The lack of a clear plan on how to deal with Greece is starting to have a corrosive effect on the Markets, also Greece is not hitting its austerity targets, thus the contagion that the bailouts were planned to stop has failed, it does seem it will be sooner to a Greek default, the only question will it be managed or unplanned, thus far hard to say folks.

Republican Calendar - South Carolina

The New York Times: Reports that the State of South Carolina will have its Primary vote for the Republican Nomination on January 21st of 2012. As stated in previous post on this subject folks the Christmas holidays are over for politicians and reporters following the campaign. As the article notes Iowa could vote on January 3rd, thus the winner will not have much time before New Hampshire votes to build a path to victory from Iowa. But for us political geeks its heaven folks, seeing politicians in the snow of Iowa and NH begging for votes, there is no more rush if your in to politics folks.

The FEAR of a GREEK Default - Eurozone Crisis

BBC News: Reports that Greece will miss its planned deficit targets, banking stocks have taken a hit in Europe. The one thing you can count on folks is that Greece will get the next package of the planned bailout, the 8 billion is going to European banks, if the Troika of the EU/IMF/ECB failed to deliver the money it can be stated that major banks in Germany and France would be hit hard, even some could default. Thus the Greek figures do not match expectations, but it does not matter, the EU and the rest of the World can not afford for Greece to default outside a managed default. The sock markets are over reacting but Markets live and die on rumour, thus expect some heaving trading over the next few days.