In this week's Off the Cuff podcast, Chris and Alasdair Macleod discuss:
- Greece: What Will The Syriza Win Bring?
- A rejection of kow-towing to the Troika
- Stresses Across The Eurozone
- Running out ways to delay the inevitable
- Gold & Inflation
- Rising prices for both are likely from here
- Slowing Global Growth
- But a deflationary wave may need to sweep the globe first
Things just continue to get more interesting the further we get into this new year.
Syriza's decisive victory in Greece was *not* the plan European powerbrokers had in mind. So the political revolt there is likely a harbinger that events are moving away from centralized control.
It certainly shows that once a country loses hope, the populace cares a lot less about honoring the commitments and obligations (especially the debts!) of previous administrations. We are very likely seeing an early version of social angst soon to come to other weaker countries across the globe.
The world's attention remains on Greece not due to its size or GDP, but because of the precedent it will set when it chooses its path from here. Does it bolt from the Eurozone? Or does it convince its European brethren to re-rescue it? The other failing players in Europe (Portugal, Spain, Italy) will take their cues accordingly.
Meanwhile, the currency wars continue hotter than ever as countries around the world compete more fiercely for export revenues while the global economy slows.
by arthur-robey-2