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Greece Cancels US/China Bond Roadshow
As the roadshow was initially scheduled for the second half of February, this implies that the Greek bond offering is, for now, history. Furthermore, no new roadshow data has been set. It is unknown whether this is due to the massive deterioration in Greek financial perceptions over the past week, or if because the government has managed to arrange a private loan with Deutsche Bank (which hopefully does not have a downgrade put trigger as that would be the shortest loan in history).
From Dow Jones:
Greece's plans to sell a minimum $2 billion in global bonds in the U.S. and Asia have been pushed back, a finance ministry spokeswoman said Friday.
"The roadshow is still on. It has been pushed back because the finance minister is busy with obligations in Greece--visits by EU officials and parliamentary work," Filio Lanara told Dow Jones Newswires.
"We have not set a date yet, but it will happen," Lanara said.
One official with knowledge of Greece's bond issuance schedule said the roadshow could begin in mid-March.
Finance Minister George Papaconstantinou was supposed to lead a roadshow in the second half of February to gauge investor interest for a minimum US$2 billion in bonds.
Papaconstantinou told Dow Jones Newswires in January that $2 billion was the minimum that Greece was looking for. The amount could rise to $10 billion if there is enough interest, especially from cash-rich Chinese Investors, he said.
Greece, the European Union's most indebted country, plans to issue EUR54 billion in debt this year. It has already raised around EUR14 billion.
When the roadshow takes place, Papaconstantinou will visit Beijing, Shanghai, Tokyo, probably Singapore, New York and possibly the U.S. West Coast.
Now that would be funny: near-insolvency California accounts (PIMCO, Western, TCW, assuming it has any money left after the trbillions in redemptions) buying Greek bonds.
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DB share price not notably on the move this am in europe.
DB is just a front for US taxpayer funds via AIG and Fed.
Roger that.
Let's all take a trip down memory lane to when we were little children. One of the first lessons I learned about dishonesty and lying is that a little lie can quickly balloon into a massive unyielding grotesque mess of intertwined lies, lies to support the prior lies and lies yet said to support the train of lies.
The FED and other central banks are up to their necks and they know it. And so does everyone else, contrary to what they publicly say they believe. But the world goes along because it's in their best interest for now to believe the lies. However, the number of lies can be tracked on a exponential curve and will eventually end.
I'm hoping for a spectacular fireworks display for the 4th of July.
DB has its own problems. Do you think they'd take on an entire COUNTRY'S problems, in addition to their own? Not freakin' likely.
DB has its own problems. Do you think they'd take on an entire COUNTRY'S problems, in addition to their own? Not freakin' likely.
But I hear they are now planning a "Bailout Roadshow" that will be a huge hit.
i'll come watch if i can bring a lot of rotten eggs.
There's no point in fretting over this. Somebody will bail out Greece. Somebody else will bail out Spain, and Portugal, and Italy if need be. Obama will bail out California. Congress will bail out New York. Ben Bernanke will bail out Illinois and the FDIC. Nancy Pelosi will bail out Calpers.
For anyone who plans to retire in the future and live off their private savings or social security/medicare; you're screwed. Your dollar savings will evaporate. Your stock holdings will be worthless. Your property will be a tax liability. You will not be bailed out. You will not find a sympathetic ear. You'll be told that you sponged for years, lived the good life and broke the system, now you must face the music.
EURO OUIJA: http://3.bp.blogspot.com/_wkgIzuqJM0w/S4ffydvAiaI/AAAAAAAACp4/iI7Sg9kLVw...
Sweet Tomatoes - Coming to a Grocery Store near you.
This time thanks to a Buffett owned company - Kraft Foods.
http://www.nytimes.com/2010/02/25/business/25tomatoes.html?partner=yahoo...
Your lives for a mere 20K dollar tax bills.
How ironic. The world is currently celebrating a tradition originating from Greece. While...Greece is going tits up Titanic style! PAAAAAAAAARRTAAYYY WOOO!
"pushed back"
What's the point of a roadshow, anyway - the ides of March are upon us...
What's in your Revenue Stream?...
Well, we need another commercial: What's In Your Revenue Stream?...
"No soup for you.."
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