Wednesday, June 22, 2011

As I noted yesterday, the Greek confidence vote was a done deal, because the ruling party has the majority of the votes in Parliament. Yesterday was a media parade, nothing more. The same ruling party will vote also for the mid-term plan. The big risk is in implementation of the plan, so during the next months we have to check carefully what will be voted and what actually happens. Note that the first plan a year ago was voted but it failed because it was not implemented. The real news are today. What will the Fed say about the economy?

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