Default? Did He Say Default? Amateur Hour Keeps Traders Guessing
Yanis Varoufakis, Greece's incoming finance minister, arrives for the handover ceremony in Athens on Jan. 28, 2015.
Photographer: Yorgos Karahalis/BloombergThis article is for subscribers only.
There’s a danger to listening to powerful politicians in Greece and Belarus. They may not know what they’re talking about.
Exhibit A: Bank stocks in Athens lost about $11 billion of their value after ministers in the newly formed government made some populist proclamations, namely, pledging to increase the nation’s minimum wage and halt privatizations.