Last week I made a bet that Greece would be out of the Euro by March 20th 2017. Within 24 months Greece will be gone from the Euro. All those around the table thought I was insane, what I wanted was for a $1.00 bet, very much like in the film Trading Places . Due to pressure the bet got a little bigger -- but again nothing outrageous. So today March 31st, 10 days after the bet was made where do things stand... well not so good for those thinking that a solution will be found. The Greek Prime Minister indicated to the Greek parliament that negotiation were not going well, and that the country was quickly running out of cash to pay interest on the debt it owed to the ECB that the country owes for April 2016. Well have a look at the graph below: Greece is concerned with April, well look at the summer's refinancing obligations! The truth is that Greece's problem is intractable, in February, the ECB gave Greece 4 months of fresh money, most...
Life of a Norfolk farmer