Greece, when?! . . . An update from Laurel Wealth Planning
We face another week of much news centering around Greece and the European Union this
week. Building on our June 19th comments to you regarding Greek and European investing (see
Greece is the Word), Jeff Saut, Raymond James Investment Strategist offers these observations
this morning: “Over the weekend, there were Greek tweets about long lines at ATMs as the
Greek tragedy approaches. This morning Greeks awaken to shuttered banks, capital controls,
closed ATMs and rumors of conspiracies as debt talks collapse.” That said, we recognize that
the Greek/EU talks continue. You can read more of Jeff’s thoughts attached.
We want to reiterate that many analysts believe that the EU can survive a “Greexit,” albeit with
substantial stock market volatility. We see the Greek/EU negotiation going down to the wire as
both sides attempt to “stand firm” as long as possible. While I feel for the pain and uncertainty
of the Greeks – whether they stay with the EU or move toward exiting the EU via defaulting on
their debt -- I also believe that it’s important that this question of national debt of all EU member
nations be addressed and be resolved one way or another. The EU must pull closer together in
terms of its collective debt, tax, and employment policies if it is to ultimately survive and thrive.
As your financial professionals, we continue to focus on strategies that support your goals. That
includes focusing on strong companies within the EU, both in terms of holding positions through
the uncertainty and potentially buying additional shares if bargain pricing materializes.
Please let us know your questions and comments. We appreciate hearing from you.
Laura
LAUREL WEALTH PLANNING
3300 Edinborough Way, Suite 790, Edina, MN 55435 | 952-854-6250 | fax 952-854-6276
www.laurelwealthplanning.com
_____________________________________________________________________
Past performance is not an indication of future results.
_____________________________________________________________________