Monday, July 8, 2013

CALL THEM BROKE

You could call them the Big Three or the Little Three or PGC or CPG.

Or you could just call them broke, Portugal, Greece and Cyprus. After the market closed Monday the EU forked over another 3 billion euro tranche to Greece to keep the balloon afloat for another quarter.

These three will undoubtedly need more aid as the summer wears on and German elections begin capturing more media attention. It is widely expected German Chancellor Angela Merkel will be re-elected. She is known for taking a less than sympathetic stance about bailouts.

And more elections in Portugal could also capture investor attentions.  As for Cyprus it is expect with the nation's falling economy and banking problems the tiny country will need more money than previous predicted.
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