When someone tries to entertain my fears, the statement by George Horsefish automatically comes to mind «Armoured Greek Economy». He later stated that he had regretted that statement. The truth is that Greece is today the favorite success story of the markets. We should talk about this. But every time something big happens abroad, I shade. I don't know if I've got any left over from Lehman Brothers, but when I hear babbling I close doors and windows. This bond business doesn't sound good. And even more, it is intimidating that the stock markets continue to behave as if it were distant music.
To this day the stock markets have entertained all our fears, but this time things are dangerous. When large investment funds risk facing the margin call nightmare, forcing managers to press the button «Sell»No one can be sure what's going to happen. The bad thing is that we have a crisis in the bond market, a crisis in the energy market and at the same time we are on the rise of interest rates. Then come out the bill...
The most painful thing is that Germany and France face the effects of the energy market crisis on their industry. In the heart of the system. It's this moment when you're happy because you don't have industries to see the Chinese seize all the opportunities from the hair and throw you in the canavacho. Sun and sea. What we once made fun of would be wanted today by many. If the crisis deepens in Europe, it will touch us too. Perhaps with fewer consequences than in the metropolises of European capitalism. But it's too early to make such predictions.
The Greek Economy has weaknesses. We all know them. A few large companies give Greek capitalism a special character. The impact of the crisis on them is also the criterion for the size of ours, the Greek version of the crisis. Last time the crisis hit the Banks. And the bankruptcy came. This time won't be the same as before. But there's no way we're going out in the rain without an umbrella and going home wet. Yes, at times like these, I remember George Horsecraft's statement. A statement that killed him politically. Since then the officials have avoided statements like these. Because they too, in such cases, remember George Horsecraft.
Thanasis Mavroidis
