The Greek government predicts public debt will be 189 percent of GDP next year versus the 167 percent originally forecast. According to the IMF, it is unlikely Greece will meet its 2020 target of 120 percent debt-to-GDP, set by lenders last March. The debt projections have been revised upward partly because the Troika bailouts have added to the debt of the country, according to the Financial Times. We get a report from on-the-ground by Greek journalist, Yannis Paolialogos, about the sustainability of Greek debt, as the country creeps towards its sixth year of economic contraction.
Also, the International Energy Agency said the US is on track to become the world's top oil producer in 2017, and will be almost entirely energy self-sufficient by 2035. What does this mean for the energy outlook? We talk to Peter Tchir, founder of TF Market Advisors, about what the US's energy outlook means for the economy.
Plus, the value of global equities dropped a trillion dollars after Barack Obama's re-election, according to Bloomberg. Money managers and investors say the drop overlooks positive economic news and a likely deal on the Fiscal Cliff. We hear from Peter Tchir of TF Market Advisers about the impact of tax policy and the Fiscal Cliff on stocks and bonds. Source
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