Greece still on knife-edge


Greece: Bank run or bank amble
Turkey: The life of a central banker just got more dangerous
United States: Homebuilder sentiment slows
United Kingdom: Mixed inflation news
Eurozone: German business confidence moves higher


Good morning,

Greece rumbles on trying, but the tipping point has moved from political slugging between the Greeks and the EU to the fears of the Greek people about whether there will be Euros in the banks when they go to get their deposits.

My hunch is that the ECB won’t pull the plug, but there have been so many examples of political ineptitude that it’s hard to rule anything out!

In the meantime, while the ECB has NOT hit its inflation forecast for over three years, with no sanction on its executives, the head of the Turkish central bank is being taken to court because of high inflation. Erdem Basci has been named in lawsuit by a court prosecutor in Ankara. Amazingly, if the case goes to trial, then Basci could be jailed for up to two years.

Download a FULL PDF version of the Daily 

Global Macro-Daily Note 18th February 2015


  • The statements, opinions and analyses presented in the articles, newsletters, and other materials appearing on this website are provided as general information and for educational purposes. Opinions, estimates and probabilities expressed herein constitute the judgment of the author as of the date indicated and are subject to change without notice. Nothing contained in this website is intended to be, nor shall it be construed as, investment advice, nor is it to be relied upon in making any investment or other decision. Prior to making any investment decision, you are advised to consult with your broker, investment advisor or other appropriate tax or financial professional to determine the suitability of any investment. David McWilliams shall not be responsible or have any liability for investment decisions based upon, or the results obtained from, the information provided.

Categories: Daily Note