Hard hitting global and local news
Retail Sales Unexpectedly Sink Below the Lowest Economist’s Estimate; September Hike? Really?
Finance minister (Mr. Varoufakis) said today that an IMF report showed the debt was unsustainable from the start and that financials wouldn’t get better even by 2030. I don’t know if the changes your friend proposes will be done
Instead, Greece Heads for Decisive No Vote . With 85 per cent of votes counted, the No camp had won 61.5 per cent and was leading in every region of the country, a remarkable political exploit by Greek prime minister Alexis Tsipras. But it is also likely to plunge Greece deeper into turmoil as it tries to prevent the collapse of a financial system that is rapidly running out of cash.“As of tomorrow, with this brave ‘No’ vote, we will call on our partners to find common ground,†said Yannis Varoufakis, Greek finance minister
Read More: Divided Greece; Eve of Referendum Polls Split; 20,000 Rally ‘No’ and 20,000 Rally ‘Yes’; Back Home From 17…
Link: Knife-Edge Greek Referendum; Voting Booths Closed; Four Polls Show ‘No’ in Slight Lead; Schäuble Campaigned For ‘No’
See more here: Greek Banks Down to Last €500 Million; Vote for Servitude Takes Slight Lead; IMF Says Greece Needs…
The Wall Street Journal reports Fed Signals Rate Hikes at a Gradual Pace The Federal Reserve signaled it was moving toward interest-rate increases later this year now that signs of a slowdown in economic activity are waning, but the path of rate increases could be less steep than officials anticipated. The last time the Fed made such projections, its consensus appeared to be building around two rate increases this year
Today we also learned the Syriza Left Demands ‘Icelandic’ Default as Defiance Stiffens .
Read this article: Retail Sales Bounce as Expected; How Much Longer Can Subprime Auto Sales Lead?
Read this article: Request Denied: Juncker Spurns Tsipras Request for Meeting; Exterminated from Within