Sunday, July 26, 2015

The plot thickens...

"A secret cell at the Greek finance ministry hacked into the government computers and drew up elaborate plans for a system of parallel payments that could be switched from euros to the drachma at the "flick of a button" .
The revelations have caused a political storm in Greece and confirm just how close the country came to drastic measures before premier Alexis Tsipras gave in to demands from Europe's creditor powers, acknowledging that his own cabinet would not support such a dangerous confrontation."

Sunday, July 05, 2015

The Euro experiment.

This blog has certainly been critical of the euro experiment.  Now with events transpiring that will test the structure of the system, will the inner core countries blink?

I believe Europe is becoming bored with the project.

Recall this story...

...from last month...

June 14, 2015 6:02 am
China's hedge fund industry blooms as stocks boom

More than 4,000 new Chinese hedge and private equity funds have
launched in the last three months, fuelling a mass exodus from
traditional investment houses, as ambitious fund managers seek to
profit from the country's booming stock market.

The number of private investment funds — including securities, private
equity, and venture capital — totalled 12,285 by the end of May, up
from 7,989 three months earlier, figures from China's securities
regulator show. Assets under management increased by $75bn to $433bn.

Feng Gang, chairman of hedge fund WinSure Capital, said the government
is encouraging entrepreneurship in finance. He launched his fund in
January after 14 years at Chinese mutual fund companies, most recently
China International Fund Management, a joint venture with JPMorgan

"In the past 14 years I've never seen regulators so encouraging of
innovation. In the investment industry, we're taking the lead."

Last February, the government switched to a streamlined registration
procedure for private equity and hedge funds, abandoning the more
onerous approval process.

Employees at hedge and private equity funds have risen by over 60,000
in three months, topping 199,000 by the end of May.