Mind Over Market

There's no way to interpret the proposal of terms from Greece to obtain yet another bailout other than to say Greek Prime Minister Alexis Tsipras has caved to European Union demands, mostly the terms of Germany's finance minister Wolfgang Schaeuble. July 10, 2015 Here is the Greek proposal . Also, see scathing analysis from naked capitalism here . Also, see analysis from The Business Insider here .

Dennis Gartman of The Gartman Letter talks about how to  trade Europe amid Greek tensions on CNBC, June 25, 2015. He thinks that the euro would be better off without Greece in it and would prefer to see a Grexit than to see Greece stay in the monetary union.

Wilbur Ross is interviewed on CNBC's Squawk Box August 14, 2012 Rough transcript of interview: Joe Kernen: Restructuring legend Wilbur Ross is here and goes all over the place in search of opportunity, back from a fresh trip to Greece, joins us for the next two hours. Wilbur, it's been probably, has it been six months since I've seen you? Wilbur Ross: A few months, maybe three or four. Joe Kernen: Three or four months, and it's great at this point in time just to hear where you are on things like housing and europe and everything else. In looking at some of the things you said in the preinterview, we were hoping maybe the continent was improving a little. In your view as far as Greece goes we don't know how bad it actually is? Wilbur Ross: I think the continent in general is improving quite a bit. the french gdp figures that were just released for the second quarter were not bad at all. germany was a little bit better than expected, and those...

"You can't understand the United States at all unless you understand what's going in Europe," Greenspan stated in an interview on CNBC's Squawk Box October 7, 2011. "I think we have been through a remarkably elaborate program to try to find out whether the single currencies work," he said. Like others, Greenspan thought it would work in the beginning because the markets bought into the idea it would work. This could be seen in the pricing of the currencies in countries like Greece, Italy, Spain and Portugal as they moved toward currency union. As the date of currency union approached in each country, the spread in interest rates of local currencies above the German bund would narrow dramatically from a level of a hundreds of basis points. "I said and thought the markets are assuming that the Greeks and the Italians and the Spaniards and Portuguese are going to behave like Germans, and that's what [the markets] were telling us," ...

Pimco founder and co-chief investment officer Bill Gross told CNBC that the unfunded debt burden of the United States puts it in a worse position than Greece. By his calculation, the U.S. is on the hook for $100 trillion. "To think that we can reduce that within the space of a year or two is not a realistic assumption," Gross told CNBC. "That's much more than Greece, that's much more than almost any other developed country. We've got a problem and we have to get after it quickly."

It's time to cut in half the € 327 billion that Greece owes sovereign bond holders in an orderly fashion and delay interest payments on the remaining debt. That's the shock therapy Barron's is urging on the European Union, as more and more voices are coming to agree with Michael Darda, chief economist and chief market strategist of MKM Partners, Stamford, Connecticut, who says the policy of lending new money coupled with aggressive budgets cuts is failing in Europe. In a new report, "Why Bailouts and Austerity Are Failing in the Euro Zone," Darda points out that despite the policy changes urged on the the PIIGS -- Portugal, Ireland, Italy, Greece and Spain, now plus now Belgium -- the spreads of sovereign debt in peripheral Europe against the core nations of Germany and France is rising above the levels where it stood a year ago. The problem is particularly acute in Greece, which received a € 110 billion bailout last year from the European Union and the Internatio...

Haris Pamboukis, Minister of State for Greece, told CNBC May 25: "Our aim is to take drastic measures," he said, to pull Greece out of its "depression." Greece needs to make the public sector more competitive. Government spending, he claimed, has already been reduced 5 percent, which has been very painful, but more must be done. Greece also needs new incentives to expand the private sector. "Our goal is to have an economy that produces more than it consumes," Pamboukis said. Exports have grown to represent 26 percent of growth. This export-led growth from the private sector is the way forward for Greece.