From Seeking Alpha, a premier financial investment web site for which I am a contributing writer.  Beware! Cash is KING:

Death Knell


Euro area inflation stayed negative in May, according to a flash estimate from Eurostat, edging up to -0.1% from -0.2% the month before. The latest figure is a far cry from the 2% inflation target set by the ECB, and comes after the central bank announced further stimulus measures in March in a bid to stimulate the bloc’s economy. Meanwhile, the eurozone’s jobless rate came in flat at 10.2% for April, as unemployment dropped by 63,000.

In a letter written to its European and IMF creditors, Greece said it cannot implement some of the extra changes sought in exchange for fresh bailout loans, including banking regulation, sales of bad loans, pension reforms and privatization. The disagreement could further delay the disbursement of bailout funds which Athens badly needs to pay off IMF loans in June, bonds of the ECB maturing in July and increasing state arrears.

Portugal’s finance minister is urging policymakers and investors to be patient as the country tackles its burgeoning debt issue and sluggish economic growth. “We are working very hard on the public finances dimension to curb the deficit,” Mario Centeno said on the outskirts of the OECD meeting in Paris. Portuguese GDP is expected to be flat this year, according to European Commission forecasts. Debt is near 130% of GDP, one of the highest in the eurozone.