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Wall Street Breakfast: Greece Slumps Following ECB Decision

Economy
Greek markets are tumbling after the ECB put more pressure on the country by revoking a waiver that allowed banks to use Greek government debt as collateral for loans. "It is currently not possible to assume a successful conclusion" of Greece’s current bailout, the ECB said late Wednesday, just hours after its president, Mario Draghi, met with Greek finance minister Yanis Varoufakis. Athens' ATG stock index is trading down 5.6%, and Greek bonds have also taken a beating.

German industrial orders in December surged to their highest level since April 2008, suggesting that Europe's largest economy will gain steam early this year after narrowly avoiding recession in mid-2014. Beating even the highest forecasts, bookings for goods rose 4.2% in December, compared to a 2.4% contraction the previous month. Germany still slumped into deflation in January with prices falling 0.5%, although much of this can be blamed on the… Read More …