Greece: Eurozone ministers delay decision on vital loan

These are all sent in by Shaza

Many Greeks are opposed to further cuts, which the government says are absolutely crucial
Eurozone finance ministers have postponed their decision on a 12bn-euro ($17bn; £10bn) loan to Greece until it introduces further austerity measures.
The ministers said they expected to pay the latest tranche of a much larger aid package by mid-July.
But its release depends on the Greek government surviving a vote of confidence on Tuesday.
Parliament then must also pass 28bn euros worth of new spending cuts and economic reforms.
This latest tranche - of a 110bn-euro European Union and International Monetary Fund aid package - is crucial as Greece needs the aid by July to pay off the creditors of its huge debts.
But there are also practical questions about whether the country can implement the reforms being demanded in return.
Greeks have already seen wages and pensions cut and there have been regular, mass demonstrations - even riots - in protest.

Start Quote

The latest public opposition to the cutbacks involves Greek workers at the state-owned electricity company, who are on the first day of a 48-hour strike.

German Giant Says US Workers Lack Skills

A mismatch in the US labour market between the skills of unemployed people and the jobs available is making it hard for some companies to find the right staff despite an unemployment rate of more than 9 percent, one of the country’s largest manufacturing employers has warned.

Eric Spiegel, chief executive in the US forSiemens [SI  134.51    3.43  (+2.62%)   ], the German engineering group, said the problemexposed weaknesses in education and training in the US. Siemens had been forced to use more than 30 recruiters and hire staff from other companies to find the workers it needed for its expansion plans, even amid an unemployment rate of 9.1 percent
“There’s a mismatch between the jobs that are available, at least in our portfolio, and the people that we see out there,” Mr Spiegel told the Financial Times. “There is a shortage (of workers with the right skills.)”
He said Siemens was having to invest in education and training to meet its staffing needs, including apprenticeship programmes of the kind it uses in Germany. (Slideshow: What workers get, country by country).

Gold bugs confident on gold — but stocks?

Commentary: Gold-miner stocks may be due for big rally

By Peter Brimelow, MarketWatch
NEW YORK (MarketWatch) — Even though commodities (as measured by the CRB Index) were down 4%, and oil down 6%, gold managed to finish up.
The CME August gold contract GC1Q +0.10%  settled on Friday up $9.90 on the week at 1,539.10 (up 0.65%).
This was something of a triumph for The Gartman Letter, which last Thursday and the previous Friday substantially increased its gold exposure, which now comprises 11/17 of its model portfolio. All these positions are head-spinningly hedged by various shorts, the latest being copper.