A Greek Trader Tells Us The State Of Things, And Explains Why The
Worst Is Yet To Come
The impact of most of what I have noted above is only now just beginning to be felt. The actual implementation of these changes, is mostly still ahead of us and they will gradually be enforced over the next 6 months or so, as the ''internal devaluation'' concept is actually implemented.
One can only reasonably expect, therefore, that social tensions and revolt will increase as what today still remains merely expectations stemming from govt announcements, turn into daily reality. Obviously, no one can yet predict or foresee what the end game will be. I doubt whether even the leading European policy makers have a clear picture of the path to the crisis resolution. Everybody concerned seems
to be improvising and to be engaged in some kind of erratic trial and error proceedings.
Unfortunately, I do not think that anybody today can be anything but pessimistic regarding the near to medium term future. Meantime we hope for the best, while preparing for the worst.
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