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|Posted on August 17, 2015 at 5:27 PM||comments ()|
The Fed does not necessarily have to hike the interest rate this September, although it was beginning to seem appropriate. On reflection, it seems the economic Recovery can gather pace for another six months or so before a rate hike will become necessary, as the Debt Ceiling agreement made by the US Congress in March 2014 was for a period of two years, and takes us all to March 2016 - until such time, the capital flow will continue the government of the nation, and it seems ample at around $110 Billion a month.
For the third Greek bailout, Mme Merkel has been expressing sympathy for Greece, that they ought to be given a 'haircut' and the interest rate reduced to enable it become a bearable and - most importantly - a serviceable debt, a sustainable debt load. That is admirable, it would free up the system of any false expectations of receiving from Greece what they can't afford. With the false expectations out of the window, everybody can breathe in peace and allow Greece to create a Recovery and then Prosperity in their beautiful nation, which is blessed with antiquity preserved, sunshine all year round, an enterprising people who seemed to be sat down with inertia due to lack of finance and some commercial practices and legislation which has slowed them down. Once rectified, which the current government under Mr Tsipras in beginning to instigate and put right, things will work out well and I feel soon we could be hearing about the Greek Recovery, just like Spain. Just the dynamics need to be rejigged somewhat, and things will work out.
But for the moment, the world awaits the unveiling of the Juncker Plan. That gift of the European Union will start many industries and give Greece the lifeline it so desparately needs.
Once the German parliament agrees some generous terms and conditions and gives them the chocolate they are waiting for, the nation of milk and honey can soon make some paklava and avegolemono in celebration, not to mention the ouzo and retsina. Of course, they must do the national Greek dance.
All friends will celebrate with them.