Bloomberg: Greece ‘48 Hours Away From Unrest’
Greek Prime Minister Alexis Tsipras probably has 48 hours to resolve a standoff with creditors before civil unrest breaks out and ATMs run out of cash, hedge fund Balyasny Asset Management said.
Fund managers are questioning how the International Monetary Fund and Europe’s leaders can seal a deal with Athens following the “no” vote in a Greek referendum on Sunday. Sixty-one percent of voters rejected austerity, increasing the likelihood of an exit from the euro area.
“I don’t see a good resolution any time soon,” Colin Lancaster, senior managing director with Balyasny, a $9 billion fund based in Chicago, said in an e-mailed response to questions. “The big question is whether the EU adopts a strategy of waiting them out. The hope would be that the unrest leads to a unity government or change in government.”
Balyasny ended its direct exposure to Greece three weeks ago, Lancaster said.
WNU Editor: Not 48 hours from now .... and despair will be the number one emotion that most Greeks will be expressing in the weeks/months ahead.
2 comments:
Got a mate of mine holidaying over there right now...
He seems to be a bad luck charm cause his original destination was Tunisia, which he changed to Greece after the terrorist attack there.
Tried to warn him that the situation there is rapidly deteriorating... O well.
Are you kidding D. Plowman .... now is a great time to be in Greece. Everything is now super-duper cheap. The food, ouzo, olive oil .... all my Greek friends are saying the same thing .... everything is cheap cheap cheap, and if you have cash .... you are the KING! Of course .... the despair of the people, riots, strikes .... it will be downer .... but like I said .... cheap cheap cheap. :)
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