My money's with Mobius.......
Report: Greek bailout talks end with no deal; Goldman frets, Mobius buys
Mar 31 2015, 08:20 ET | By: Stephen Alpher, SA News Editor Contact this editor with comments or a news tip
Greece needs to reach a new bailout deal with the troika soon as it's set to soon run out of cash, but, according to Reuters, negotiations in Brussels have ended without an agreement. One Greek official says the process isn't broken, just slow-moving, and - assuming progress is made in Athens on reforms - talks could open up again next week.Goldman says the risk of Grexit is rising sharply, and with it the risk of unintended consequences. “Deposit flight exceeds previous episodes and the resulting tightening in financial conditions is a severe shock for an economy,” says Goldman's Robin Brooks, but for now the market is ignoring as there's been no spread to the rest of the EU periphery.Mark Mobius, meanwhile, is a buyer now. "Greece will remain in the eurozone. There is no question." The banking sector looks particularly tasty, says Mobius, and he's long National Bank of Greece (NYSE:NBG).GREK +1.7% premarket
