One can now add Alan Greenspan to the growing list of individuals who believe Greece will soon default on its sovereign debt.
In an interview with Charlie Rose this week, the former Federal Reserve Chairman said that a Greek default is now “almost certain,” and that the chances of Greece defaulting are “so high that you almost have to say there’s no way out.”
“The problem you have is that it’s extremely unlikely the political system will work” in a manner that effectively resolves the crisis, according to Greenspan.
With regard to the implications of the Greek crisis for the U.S., Greenspan stated that it has the potential to push America into a double-dip recession. However, he also contended that the U.S. economy is performing reasonably well on its own and is unlikely to re-enter a recession if euro zone officials are able to limit the impact of the problems in Greece.
Platinum Group Metals Reports Acceptance of WBJV Mining Rights Application
Platinum Group Metals (PLG.NYSE AMEX) announcement that the South African Department of Mineral Resources (DMR) has accepted the Company’s application for a mining right for the WBJV Project 1 Platinum Mine. This development indicates that the company has complied with submission requirements and can now proceed with the completion and submission of its Environmental Impact Assessment (EIA) and Environmental Management Programme Report.
On March 28, the emerging platinum producer received the consent of the South African Department of Mineral Resources for the company's detailed underground development plans and environmental management program, including the mining of a bulk sample. Civil engineering contractors are mobilizing and development is advancing on the project, which is strategically located on the world’s most prolific platinum-producing belt.
Platinum Group Metals is also conducting exploration work on its Canadian properties located near Thunder Bay, Ontario. Full Platinum Group Metals News Release.
PLATINUM TO FOLLOW SILVER?
