Spamdex - Spam Archive

Report spam

Send in your spam and get the offenders listed

Create a rule in outlook or simply forward the spam you receive to

Also in

To Greece and Back ...

Having trouble viewing this email? View it online.
Thursday, July 2, 2015
Money and Markets
To Greece and Back ...
by Mike Burnick

Dear ,

Mike Burnick

I just returned from a two-week vacation to Italy and Greece, where the topic of a potential Grexit from the European Union (EU) and what that could mean for other deeply indebted EU countries was a hot topic of conversation for tourists and locals alike.

Our tour guide, Tomasso, is from Italy, another country with shaky finances. The people of Italy are closely watching the Greek outcome, which took a turn for the worse this week, as are the good citizens of Portugal, Spain and indeed all of Europe.

Click image for larger view

Tomasso has a unique vantage point in that he travels all across Europe leading tour groups, mostly American. He has family, friends and colleagues in every nation. They are all concerned with the never-ending debt crisis that still hangs over the Continent. As the chart above clearly shows, this is not just a Greek problem. Yield spreads widened noticeably this week for government bonds issue by other fiscally challenged EU nations.

The majority of Greeks want to remain part of Europe, according to Tomasso. However, they're rightfully angry at the harsh austerity measures imposed on Greece as part of previous bailouts.

Protect Your Wealth!

My mission is to make sure YOU are prepared to protect your wealth and keep it growing even in the worst of times. And for a limited time, if you accept this risk-free offer to my Safe Money Report, you'll save a whopping 75 percent! Plus ... get immediate access to 4 special bonuses absolutely FREE! –Mike

Internal Sponsorship

These measures have resulted in a deflationary spiral that has been infecting all of Europe. Greece is mired in a deep recession with an alarmingly high unemployment rate of 26% and climbing.

The Greeks face a bleak economic outlook that got even murkier this week.

On Monday, the government slapped capital controls on its citizens. Tuesday at midnight, Greece's second EU bailout in the past three years expired leaving the nation in limbo, again. Banks are closed and stock trading halted until after a July 5 referendum when the Greek people will cast votes on their future within the EU, or perhaps on their own.

In the meantime a bank "holiday" has been declared with ATM withdrawals limited to just over $60 a day — hardly enough for a decent dinner in Athens. And the Athens Stock Exchange is closed this week, after dropping 33% over the past year.

Could we see an EU without Greece?

Whenever a nation runs out of cash, governments resort to capital controls, although they never work. After all, the last place you'd want to invest your capital is in a market where you can't get you money back out. So global investors avoid markets with capital controls, making the cash crunch even worse.

Over the past six months, $31 billion has been withdrawn from Greek banks. And the European Central Bank has poured nearly $100 billion in emergency lending into Greek banks, but to no avail as capital flight continues.

The banking system is insolvent without continued support from the ECB, which was also suspended this week. It doesn't look good for the Greeks.

The probability of Greece exiting the EU has risen to about 50/50 odds today, up from just a 10% chance this time last year. Still, it's hard to imagine Greece as no longer a part of the EU. After all, Greece is the very cradle of civilization and the cornerstone of democracy in Europe. Try to imagine the United States with New York or New England. So it's still quite possible the Greeks will vote "yes" — in favor of continued EU membership — in next week's referendum.

After all, nothing focuses the mind of the populace quite like a bank holiday, with no access to one's life savings. The result from a "no" vote could be perilous indeed not just for the Greeks but for the very existence of the EU.

And if you think Greece, Italy and other European nations are inefficiently run, just spend a few hours in Passport Control and Customs at New York's JFK airport, as I had the misfortune of experiencing firsthand this week! Bureaucracy and financial mismanagement is a problem on both sides of the Atlantic.

Good investing,

Mike Burnick

The investment strategy and opinions expressed in this article are those of the author's and do not necessarily reflect those of any other editor at Weiss Research or the company as a whole.

Have comments? Tell Us!

Facebook Twitter Linkedin YouTube Pinterest

About Money and Markets
For more information and archived issues, visit
Money and Markets is a free daily investment newsletter published by Weiss Research, Inc. This publication does not provide individual, customized investment or trading advice. All information is based upon data whose accuracy is deemed reliable, but not guaranteed. Performance returns cited are derived from our best estimates, but hypothetical as we do not track actual prices of customer purchases and sales. We cannot guarantee the accuracy of third party advertisements or sponsors, and these ads do not necessarily express the viewpoints of Money and Markets or its editors. For more information, see our Terms and Conditions. View our Privacy Policy. Would you like to unsubscribe from our mailing list? To make sure you don't miss our urgent updates, just follow these simple steps to add Weiss Research to your address book.

Attention editors and publishers! Money and Markets teaser content may be republished with a link to the full story on Such republication must include attribution with a link to the MoneyandMarkets home page as follows: "Source:"

Money and Markets: A Division of Weiss Research, Inc. |

4400 Northcorp Parkway | Palm Beach Gardens, FL 33410 | 1-800-393-0189


All titles, content, publisher names, trademarks, artwork, and associated imagery are trademarks and/or copyright material of their respective owners. All rights reserved. The Spam Archive website contains material for general information purposes only. It has been written for the purpose of providing information and historical reference containing in the main instances of business or commercial spam.

Many of the messages in Spamdex's archive contain forged headers in one form or another. The fact that an email claims to have come from one email address or another does not mean it actually originated at that address! Please use spamdex responsibly.

Yes YOU! Get INVOLVED - Send in your spam and report offenders

Create a rule in outlook or simply forward the junk email you receive to | See contributors

Google + Spam 2010- 2017 Spamdex - The Spam Archive for the internet. unsolicited electric messages (spam) archived for posterity. Link to us and help promote Spamdex as a means of forcing Spammers to re-think the amount of spam they send us.

The Spam Archive - Chronicling spam emails into readable web records index for all time

Please contact us with any comments or questions at Spam Archive is a non-profit library of thousands of spam email messages sent to a single email address. A number of far-sighted people have been saving all their spam and have put it online. This is a valuable resource for anyone writing Bayesian filters. The Spam Archive is building a digital library of Internet spam. Your use of the Archive is subject to the Archive's Terms of Use. All emails viewed are copyright of the respected companies or corporations. Thanks to Benedict Sykes for assisting with tech problems and Google Indexing, ta Ben.

Our inspiration is the "Internet Archive" USA. "Libraries exist to preserve society's cultural artefacts and to provide access to them. If libraries are to continue to foster education and scholarship in this era of digital technology, it's essential for them to extend those functions into the digital world." This is our library of unsolicited emails from around the world. See Spamdex is in no way associated though. Supporters and members of Helping rid the internet of spam, one email at a time. Working with Inernet Aware to improve user knowlegde on keeping safe online. Many thanks to all our supporters including Vanilla Circus for providing SEO advice and other content syndication help | Link to us | Terms | Privacy | Cookies | Complaints | Copyright | Spam emails / ICO | Spam images | Sitemap | All hosting and cloud migration by Cloudworks.

Important: Users take note, this is Spamdex - The Spam Archive for the internet. Some of the pages indexed could contain offensive language or contain fraudulent offers. If an offer looks too good to be true it probably is! Please tread, carefully, all of the links should be fine. Clicking I agree means you agree to our terms and conditions. We cannot be held responsible etc etc.

The Spam Archive - Chronicling spam emails into readable web records

The Glass House | London | SW19 8AE |
Spamdex is a digital archive of unsolicited electronic mail 4.9 out of 5 based on reviews
Spamdex - The Spam Archive Located in London, SW19 8AE. Phone: 08000 0514541.