The official blog of Stathis Kassios for Business, Media, Economics & Arts

Τις τελευταίες μέρες διαβάζουμε στον εγχώριο και διεθνή τύπο για τη κατάρρευση της Silicon Valley Bank, της Signature Bank, τη πτώση της μετοχών της Credit Suisse -έφτασαν σε ιστορικό χαμηλό, το ¼ της αξίας τους- μαζί με την απόσυρση καταθέσεων, και άλλους τραπεζικούς κλυδωνισμούς που ανησυχούν επενδυτές και καταθέτες τόσο στην Αμερική όσο και στην Ευρώπη. Οι πρώτοι μήνες του νέου έτους έχουν σημαδευτεί από αλλεπάλληλα γεγονότα κλονισμού της τραπεζικής αξιοπιστίας ανασύροντας τις μνήμες του 2008 με τη κατάρρευση της Lehman Brothers. Οφείλουν οι καταθέτες να ανησυχούν; Πόσο κοντά είμαστε αλήθεια σε μια νέα παγκόσμια οικονομική ύφεση; Τι φταίει για τη νέα κρίση στο τραπεζικό σύστημα; Είναι μεμονωμένες περιπτώσεις ή θα επεκταθεί σαν ντόμινο λόγω της παγκοσμιοποίησης όπως ο Covid από τη Κίνα στον υπόλοιπο κόσμο; Πρέπει να αναγνωρίσουμε ότι η Αμερικανική κυβέρνηση κινήθηκε γρήγορα για να προστατέψει τους καταθέτες των τραπεζών SVB και SB. Αντίστοιχα η κεντρική τράπεζα της Ελβετίας πήρε άμεσ...

Here is my personal comment on the much discussed eurobond for dealing with Covid-19 after effects in EE and Eurozone economies: '' #Germany saying no to a new eurobond requested by other member countries where Covid-19 is ravaging their economies, proves once again to have very weak memory. In 1953, 20 countries in London, agreed to help Germany with deleting 52% of its post war debt and reformed the rest of debt in accepting long term loans and payments only if Germany secured annual budget surpluses. If this agreement had not taken place, they would still struggle to lift up after WWII. EU is on the brink of dissolution.'' - Stathis Kassios An interesting Chinese proverb which sounds like an oxymoron to my ears amidst this global health crisis: <<Να προβλέπεις το κακό πριν συμβεί. Να βάζεις τάξη πριν ξεσπάσει ταραχή>> - Κινεζική παροιμία, από το βιβλίο της  Stephanie Bessiere Another interesting article via FP (Foreign Policy): The ...

An interesting analysis by Poul. M. Thompsen (IMF) about the myths and realities of the Greek crisis, what went wrong during the programs imposed by Europeans and IMF. Last but not least, mistakes in the various reforms by the political system of the different Greek governments since 2009 and the fragile future of the  Greek economy. Your comments are welcome. Read more HERE:  https://bit.ly/31TD1fs

Ever wondered about global banking, trading and various financial products? Do you know all about bonds. equities, stocks, investment funds, short and long term contracts, credit default SWAPS (CDS), etc.?  Ever understood how the behavior of global markets can create an economic crisis like the one ''weak'' EU member countries have endured the past few years?  This is a highly suggested documentary. Only if you are curious enough to get a bitter glimpse of the global finance world and elite that affects your life more than you think it is.

Το αριστερό γράφημα συγκρίνει την εξέλιξη του ΑΕΠ της Ελλάδας με του μέσου όρου της ευρωζώνης και της Πορτογαλίας μετά το 2007 που είναι το έτος που άρχισε η παγκόσμια κρίση. Επέλεξα να συγκρίνω την Ελλάδα και με την Πορτογαλία διότι είναι μια μικρή και μη παραδειγματική χώρα της ευρωζώνης η οποία, όπως εμείς, ζήτησε μνημονιακή βοήθεια διότι η κυβέρνησή της χρεοκόπησε. (Αντίθετα με πολλές άλλες ευρωπαϊκές χώρες όπου χρεοκόπησε το τραπεζικό σύστημα, όπως π.χ. Ιρλανδίας, Ισπανία και Κύπρος.) Παρατηρούμε ότι το 2008-2009 η Ελλάδα είχε μια ελαφρώς καλύτερη επίδοση, η οποία όμως ήταν πλασματική καθώς δημιουργήθηκε με ποτάμια δανεικού χρήματος στην αγορά (μόνο το 2009 το πρωτογενές έλλειμμα ήταν 24 δις, ή σαν να λέμε 800 ευρώ το μήνα ανά οικογένεια). Μετά το 2009 βλέπουμε ότι η Ελλάδα μπήκε σε μια απότομα μεγάλη ύφεση η οποία όμως βασικά αντιστοιχεί στις συνέπειες του ξεφουσκώματος των τεράστιων αυξήσεων των κρατικών δαπανών (Μόνο την τριετία 2007-2009 οι κρατικές δαπάνες για μισθούς,...

The effects of high taxes are very profound in the Greek economy. Growth and job creation will only happen if the current or future government takes an important decision of lowering taxes on people and business. Read the article here   via reuters.com

Encouraged by upgrade, Greece plans 10-year bond issue. Click HERE to read more via Reuters.com

Hello, find below the video episodes by BBC featuring Brexit & the power of Brussels, Greece's economic crsis, migration.

Dear Greek Friends, I promised three Greek fighters for a change to the better, Stathis, Sheridan  and Christiana to write down the thoughts I have for all of you and your country.  We met on the internet and it think it is no coincidence. I don't believe in coincidences,  because I love the greek history, the country, its philosophers and YOU, the people.  So it was also no coincidence, that you, the population, had to face this tremendous  crisis. This crisis is your chance! It is your chance to have the biggest influence and  the greatest achievements you may not yet be able to imagine. I am convinced, you  will lead your country out of the crisis into a SUSTAINABLE and RESILIENT future.  As a humanist I am focused since many years, actually since decades, on how to change  the world to the better and I was working hard, thinking and fighting a lot, but I always had  the feeling that I could not help, move or achieve enough unti...

Eulen aus athen   promotes innovations from Greece to a global German speaking audience. Me and my business partner, Sheridan Tatsuno, are very honored to be hosted in Eulen aus Athen for our new ad-venture and transmedia project, Zorba The Entrepreneur + Hellene.gr . Link:  http://eulenausathen.com/2014/05/09/zorba-the-entrepreneur/ Google translate (english):   https://translate.google.com/translate?sl=de&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Feulenausathen.com%2F2014%2F05%2F09%2Fzorba-the-entrepreneur%2F&edit-text=&act=url Be sure to follow Eulen aus Athen and spread the word! SK

SK - Please introduce yourself and update us on your latest endeavors. YD - My name is Yiannis Deliyiannis, I am 42 years old and I hold a BA on Engineering & Management and an MBA. My professional career, focused mainly on business process consulting and Internal Audit, took a twist two years ago when I decided to embark on an entrepreneurship journey with tradeNOW – an online barter marketplace . Together with 3 friends, we decided to build an online marketplace where consumers and companies can trade goods, services and real-estate. www.tradenow.gr  was launched on 9 th of January 2013 and one year later has more than 17.000 members and 300 companies – mainly in Greece. We are currently raising funds to expand our operations into Europe. Meanwhile, on February we will attend a 3-week acceleration program in Silicon Valley, exploring the opportunity to establish a US – focused barter platform. SK - Your personal opinion about the Greek start-up ecosystem. W...

How do I see the current economic situation across Greece and EU: It's no more about monitoring fiscal austerity It's more about monitoring financial austerity  (troubled banks vs public sectors) Household savings get low in Greece thus private spending will continue to decrease Even if wages were allowed to climb in some countries like Germany, this would not boost spending in Greece (tourism is down for 2012) or increase demand for Greek exports towards Germany No wage growth in Greece, Italy, Spain, Ireland, Portugal The competitive North and the un-competitive South doctrine will remain Then I feel like Greece started ''winning''... http://youtu.be/ZXfxqM__hwk  

The world economic crisis goes hip - hop! Follow the link! http://www.youtube.com/watch?v=d0nERTFo-Sk&wl_token=hLc-pjPlK63tn5Ya4RnRYTjt_a98MTMwNjQ4Mjk5MEAxMzA2Mzk2NTkw&wl_id=d0nERTFo-Sk

Do you have a rational way of managing your finances during our troubled economic environments? I found an article by James Surowickie which is ideal for posting here some interesting parts based on his views for the dangers of modern financial illiteracy. Your credit - card debt: "It’s like we’ve opened a faucet, and told people they can draw as much water as they want, and it’s up to them to decide when they’ve had enough. But we haven’t given people the tools to decide how much is too much." Your mortgage: "A study by economists at the Atlanta Fed found that thirty per cent of people in the lowest quartile of financial literacy thought they had a fixed-rate mortgage when in fact they had adjustable-rate mortgages." Why things get sh*tty for you: "The Dunning-Kruger effect: people who don’t know much tend not to recognize their ignorance, and so fail to seek better information."