Greek Deflation Continues For 10th Straight Month; Stocks Up 19% In 9 Days

The Greek economy initially slipped into a deflationary trend in March 2013 and for the 10th month in a row in December, Bloomberg's Niraj Shah notes that EU-harmonized consumer prices dropped 1.8%. This is the longest deflationary streak since 1968 (largest in record according to Bloomberg data) as the Greek economy remains 21.3% smaller than it was in the third quarter of 2007. Of course, this doesn't matter to the dash-for-trash-grabbing fast-money muppets who have driven Greek stocks up 19% in the last 9 days to their highest in almost 3 years; because, as is the only important fact, Stournaras says recovery is coming any minute...

 

 

Copyright ©2009-2013 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies every time you engage the ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.