This was on NHPR this morning. For the first time in five years, the Greek government is offering bonds. And people are buying them. I'd like to interview some of those buyers, just to see if they are as stupid as they look. Greece is still an economic disaster, 25% unemployment, a vast civil service drawing their pay to impede economic growth, with a neo Nazi party (Golden Dawn) gathering strength, and a mountain of debt equivalent to many years of GNP. And these "investors" think they will get paid back? And are willing to accept this kind of risk for a mere 5% interest? When they can buy the soundest investment on the planet (US T bills) for 3%? They are willing to take all the risks in Greek bonds for a measely 5%?
Lots a Luck.
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