Loans and Finance

Loans and Finance

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News and information about loans, money, debt, finance and business issues.

Thursday, December 08, 2016

Greece Caught Between Rock and a Hard Place



Greece should do itself a favour, and leave the Eurozone.

Wednesday, December 07, 2016

IMF's Greek Fantasy - Sunday Opening

According to daily To Ethnos, the IMF submitted a demand to the Greek government last Friday via an e-mail that all stores be open on 52 Sundays per year, and to legislate this measure within the month of December.

The Fund claimed that this measure was including in the first tool kit of the OECD that was not implemented.

All very well and jolly in a wealthy consumer driven economy. However, Greeks are living in penury.

How much extra will they buy if stores are open on Sunday?

Bugger all!

Tuesday, December 06, 2016

Greece Tells IMF To Fuck Off

Monday, December 05, 2016

Greek Crisis Hasn't Gone Away

Whilst the media have been distracted by Brexit and Trump, the Greek debt crisis hasn't gone away.

As per the Wall Street Journal Germany and the Netherlands have promised their parliaments that they won’t ask for more money for Greece unless the IMF also resumes lending to Greece.

However, the IMF won’t do this unless it is satisfied that Greece’s debt burden is sustainable. For the IMF, this is a question of institutional credibility. It has already put its name to two failed programs, and it is determined that it will only join a third program if it is convinced that Greece can return to the markets at the end of it, its financial sovereignty restored.

Fat chance of that!

Thursday, December 01, 2016

Coming Soon - Meat Free Fivers!

Friday, November 18, 2016

Three Mobile Hacked - Six Million Customers at Risk

Three Mobile admitted that hackers have successfully accessed its customer upgrade database after using an employee login.

Sources familiar with the incident told the Telegraph that the private information of two thirds of the company's nine million customers could be at risk.

The company confirmed the breach on Thursday evening but declined to say whether customers' data was stolen or how many have been affected.

Three said that the data accessed included names, phone numbers, addresses and dates of birth, but added that it did not include financial information.

As I have noted before, all IT systems are at risk of hacking. Therefore people need to be prepared for their personal data  to be stolen.

Thursday, November 17, 2016

IMF Brexit U Turn

The International Monetary Fund said today that it expects the UK to be the fastest growing G7 economy this year, backtracking on its post-Brexit recession warning.

Brexit Recession Fails To Materialise


Another nail in Project Fear's coffin!

Tuesday, November 15, 2016

When Stats Don't Convince, Change What You Measure



The ONS, an organisation that publishes statistics that are out of date and invariably wrong, has decided to change its measure of inflation.

For why?

In order to confuse people so much, that they can't tell if the measure is accurate, timely or relevant!

Thursday, November 10, 2016

Financial Armageddon Averted

Contrary to the American version of Project Fear, Trump's victory has not brought about financial Armageddon. Markets around the world are rallying, and the Dollar has stabilised.

The lesson here is that markets go down, and markets go up!

Wednesday, November 09, 2016

The Mother of All Fiscal Stimuli Coming!

Based on Trump's victory speech, it seems the mother of all fiscal stimuli and public works is on the cards for the USA.

Funded by an increase in public borrowing and cuts in defence expenditure I would wager.

Tuesday, November 08, 2016

#TobleroneGate Is Not Brexit Related


Despite the temptation to blame Brexit, this is not a Brexit issue as Switzerland is not in the EU!