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Greece Hampering Global Markets

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    David Buik of BGC Partners on the problems facing the EU and whether Greece will depart the Union.

  • Duration 3:08
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-- live from London David Buick hit from BGC partners and Dodd's always good to see.

David Buick matter what is going on in the world but you know it's like we're talking three of -- the last few years Greece is still a problem but it's the boy who cried wolf than this time it's for real alright David.

You're absolutely right called the George speaking to you I can assure you it's not what's going on in -- back out of -- We -- obviously a very inconclusive meeting between.

Personal moment chancellor Merkel yesterday which leaned absolutely nothing like a long playing ground for recorders -- reports -- stock.

The question of him coming out with -- nothing new because has nothing new to come up with.

We all know what the problems saw the European Union knows what the problem -- -- are they going to do about it.

A gain of the experiments of another month before fresh Greek connections we see these yields on these -- rising through the roof.

When opening up almost -- 30% for Greece for ten years.

Which six point 5% -- enough for Spain.

And 6% for it should be who's gonna come a point if we don't institution leadership.

Whereas the -- -- -- just gonna say hands up why aren't tired we're not here regards minimal.

Go back to your first -- about nothing to it to be died and and your last point about our need.

For leadership so the situation in Greece are people that have been following -- minute to minute is basically they're trying to form this coalition government they've been unable to do so.

So the -- the reality of Greece actually leaving the eurozone is becoming.

More -- more likely accorded most people who look at so.

Do we tried to avoid that is that what we need leadership four or do we try to move past have been minimized the damage at this point.

I think we'd have to minimize the damage the fact remains is that what we've -- is -- deputy secretary austerity package but we wanna stay in the European Union that doesn't work.

I mean Germany and France -- mulch -- -- they should never allowed Greece in the first place because.

They -- never been close to the fiscal requirements that group were necessary but we -- riding on the credit Crist away.

-- is no way that Greece.

Cut and actually look conference that debt repay it to deliver an austerity package right and grow farther -- that we accepted the -- There -- out and then in the fact remains it.

-- go ahead for a bigger -- The fact remains is what we have to concern ourselves with the banks that everybody's crying wolf saying oh my goodness me the commentary actions.

Terrible.

Now the banks and the EU governments have had two years to stare in the face -- of possibility.

Of Greece leaving the European the Euro zone.

If they haven't done -- -- in terms of contingency plans to either sell toxic -- as much as they possibly can.

All -- sit down and the governments the same.

And they shouldn't be in the -- that that country it will be a very rocky ride but once we crystallized it it'll be okay.

David thank you very much for your perspective as well as always and we'll talk against -- okay.

The portrait David Buick PGC partners in London.

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