We take the opportunity to present the views of David Buick, Partner, BGC related to Greek bailout package and same is posted verbatim as given below:
I would have agreed with you until the news yesterday broke, when the Greek Prime Minister George Papandreou decided that Greek people are entitled to referendum on the bailout plans. There has to be an extreme doubt on whether they will pass that. I think that shows a huge lack of faith by Papandreou towards the European Union and it has thrown markets into complete turmoil. We are now seeing yields not only on Greek bonds but also on Italian and Spanish bonds adversely affected. That was coupled today with the slightly unexpected news that China’s manufacturing output had dropped in the last three months down to 50.4. We again had dispiriting news from two-three banks, Nomura in the Far East and Danske Bank in Denmark cutting jobs. Credit Suisse Q3 profits were well down too.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
