Our generation needs an ENTREPRENEURIAL REVOLUTION.
Last week, the European markets calmed down on the news that Greece debt would be reduced by about l00 billion euros, the banks will take a 50% cut/loss on their debts. It was a extreme sacrifice for these banks to save Euro.
However, yesterday, there was this terrible news that the Greece Prime Minister will put the bail out plan on a referendum. Since it contained severe austerity measures, it is unlikely that the Greeks, the ones who starte democracy, are likely to vote on these.
Some immediate repercussions:
l. All the major stock markets in Europe fell;
2. Speculations that the EU will collapse, the Eurobank will be dismembered, if not to mention on its effect on the Euro
3. The first casualty of this development is MF Global Holdings. It is headed by former Governor in the USA. It had to file for bankruptcy Monday or Tuesday when it could not find a buyer. I t was under pressure to sell because most of its investments are in Greece, Spain and Italy.
Talk about serendipity and luck. It could also be a bad luck.
A 50% cut on your portfolio of Greece bond will likely kill a medium sized financial institutions with a large chunk of sovereign debt from Greece. Tsk tsk. Who says who cant go wrong on a sovereign debt. Mindsets have to be changed; nations can go under. As many are now
Questions:
l. Will it affect Asian economy?
2. Will this development affect Filipino entrepreneur?
3. What are the opportunities?
4. How should you as entrepreneur student prepare yourself to this development
Last week, the European markets calmed down on the news that Greece debt would be reduced by about l00 billion euros, the banks will take a 50% cut/loss on their debts. It was a extreme sacrifice for these banks to save Euro.
However, yesterday, there was this terrible news that the Greece Prime Minister will put the bail out plan on a referendum. Since it contained severe austerity measures, it is unlikely that the Greeks, the ones who starte democracy, are likely to vote on these.
Some immediate repercussions:
l. All the major stock markets in Europe fell;
2. Speculations that the EU will collapse, the Eurobank will be dismembered, if not to mention on its effect on the Euro
3. The first casualty of this development is MF Global Holdings. It is headed by former Governor in the USA. It had to file for bankruptcy Monday or Tuesday when it could not find a buyer. I t was under pressure to sell because most of its investments are in Greece, Spain and Italy.
Talk about serendipity and luck. It could also be a bad luck.
A 50% cut on your portfolio of Greece bond will likely kill a medium sized financial institutions with a large chunk of sovereign debt from Greece. Tsk tsk. Who says who cant go wrong on a sovereign debt. Mindsets have to be changed; nations can go under. As many are now
Questions:
l. Will it affect Asian economy?
2. Will this development affect Filipino entrepreneur?
3. What are the opportunities?
4. How should you as entrepreneur student prepare yourself to this development
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