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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Haim R. Branisteanu who wrote (71528)12/8/2009 3:42:50 PM
From: KyrosL  Read Replies (1) of 74559
 
The trigger was the announcement right after the socialists won in the October election that the deficit this year will be more than 12% of GDP instead of 6%, which was the published number before the elections. This caused an outrage in the EU. As I had posted before, this was well known in Greece, it was just not officially announced. That's why I was mystified why the spreads on Greek bonds were so low as late as October.
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