…or Much Ado About (almost) Nothing; Greece will get the money from the third tranche and the IMF will participate in the program without any money until debt relief measures are completely identified; this is where the ‘good’ news end (for Greece). Perfectly in line with what we expected…

We downgrade our few OI rated stocks as we expect volatility to rise and asset prices to head lower; Greece is cornered and…to access this report contact@researchgreece.com

The Greek government announced a large-scale cabinet reshuffling, with 24 members keeping their posts…to access this report contact@researchgreece.com

We remain structurally negative; Greece does not ‘own’ the adjustment program, debt relief is not in sight, banks are struggling with NPES, GDP cannot grow more than +1.5% p.a.; we single-out three (3) cash flow/dividend yield stories and rate as OI.