7/10/2015
By Charles Payne, CEO & Principal Analyst

The United States finally weighed in on the “Greek Debt saga,” putting pressure on creditors to go easier on Greece, even while it is wagging its finger at them all. Nevertheless, the fact of the matter is that President Obama has promised and promoted policies that brought Greece to this moment.

Be that as it may, Greece submitted a proposal ahead of the July 10^th deadline. And now we wait to see if they are serious or if they are still playing silly games. The Greek exchange traded fund (GREK) was up 6.5% Thursday and higher in the aftermarket, which is a sign of hope that clear heads have prevailed and that this can has been kicked down the road again.

Moreover, not only are the Greeks raising taxes mostly on tourists, but they also are committed to phasing its solidarity pension fund out with the efforts beginning next year through 2019. The Greeks blink…let’s see if the market can breathe a sigh of relief.

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Charles Payne
Wall Street Strategies

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