The Greece Debt Situation Is Taking A Toll On Wall Street

Wall Street Prices Drop Because Greece Might Leave The European Union

Greece has been going through a financial crisis for a few years. The European Union saved them from going bankrupt once, but the chances of giving them another lifeline looks doubtful unless the Greek government makes some radical changes. The European Central Bank is not supporting Greek banks anymore, and that means more financial problems for Greek citizens.

Folks at Boraie Development (njbiz) know that the immediate problem is Greece can’t make its 2.6 billion euro loan payment to the International Monetary Fund. That payment is due immediately unless Greek negotiators pull a last minute rabbit out their Phrygian hats. Meanwhile, stocks around the globe are feeling the effects of the Greek debacle. Some Americans don’t realize the severity of a Greek default. If Greece does default, the aftershock will be felt in financial institutions around the world.

Greece is not the only country experiencing debt issues. The Commonwealth of Puerto Rico recently said it cannot make its loan payment, and the Chinese stock market is taking a beating, but it will recover at some point. The meltdown of 2008 is still fresh in everyone’s mind. A meltdown in Europe could spread around the world if all the financial ingredients are in place to make that happen.

The European Union Threatens To Expel Greece Over Austerity Measures

Thousands of Greek citizens gathered outside of the countries parliament on Monday night to march against a Yes vote on new austerity measures. Those gathered included government ministers. The measures are part of a plan in which the European Union (EU) would lend the Greek government the money to pay off current debts if they accept the new austerity measures.

Brad Reifler said that the Greek people claim that they have been victims of austerity measures for the past five years. They point out they have lost homes and jobs while suicides are up. They fear these new rules will make the problem even worse. Prime Minister Alexis Tsipras has called for a no vote. Many of the protesters were supporters of the far-left Syzria ruling party. They give differing opinions on why they want a no vote, but all seem to be against austerity measures being inflicted by outside groups.Click here for more information.

The EU is being portrayed as a heartless bureaucracy that is unconcerned about the difficulties of the average Greek citizen. For its part, the EU states that if the measures are not accepted they will be forced to remove Greece from its union. The effects of the plan are already being felt as ATMs ran out of money on Monday in a move by the government to stop people from removing money from the country.

The bump is showing.

Obama’s rise in the polls has not been a recent event. He regularly polls slightly below the 50 percent threshold in most credible polls and aggregation of polls since last year. However, in none of these polls has he been above the 50 percent marker in the same time period. Additionally, before the incline began, he was polling very low. This prompted pundits and republicans to affix the lame duck tag and begin exit exaltations. However, with the freedom that Obama has been given with the acquisition of his second and final term, he began to engage in efforts that had previously been deemed taboo by the administration.

This willingness to engage came to a head with the recent eulogy that he performed in the wake of some recent tragedies in America stated Kevin Seawright. The rest of the bump was hand-gifted from republicans in the form of Supreme Court decisions that were rendered in his favor in dramatic fashion. These lawsuits were frivolous, and the only hope for republicans to upend Obamacare would be for all the conservative justices to simply make a partisan decision and further erode the respect of a Supreme Court that has no illusion of impartiality remaining. Marriage equality had very little to do with Obama, but he has greatly benefited from the ruling because he changed his position soon enough to be credible with that community.