The probability that Greece will default on its debt obligations is above 50%, according to Holger Schmieding, chief economist at Berenberg Bank. This reflects both the increasing difficulty Greece has in implementing the
troika's requirements and the growing unwillingness in Germany to give the debt-laden country more support, he says. It would be better to not have Greece default, as long as it is doing the best it can to meet the troika's conditions given that it's in a "deep recession." He adds that it's wrong to pressure Greece to keep raising taxes; rather, the country should focus on structural reforms such as lowering barriers to investment
Elliottwave
(Video) Bob Prechter Explains 'Triple Top' Forming in U.S. Stock Market
This excerpt from the special video issue of the August Elliott Wave Theorist brings you Bob Prechter’s analysis of the triple top that has been forming in the U.S. stock market over the past 12 years. Watch as Bob himself explains what this pattern means for you and the markets.
You can get even more analysis – including an 84-year study of stock values – that will help you gain perspective about the recent market moves with Elliott Wave International’s FREE report, “Reality Check: Studying the Past to Bring Clarity to the Future.”
You’ll get a glimpse into the in-depth analysis Robert Prechter presents each month in his Elliott Wave Theorist with 3 excerpts from his most recent issues.
Don’t let extreme market volatility leave you confused and scared. Prepare yourself for today’s critical market juncture with your FREE report from Robert Prechter.
Read Bob Prechter's FREE report "Reality Check: Studying the Past to Bring Clarity to the Future."
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