Greece: What’s next? Restructuring. When? Sooner than you think.

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Mon, 05/09/2011 - 15:50 | 1256629 DK Delta
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This shouldnt' even be news anymore. It's impossible to pay this debt back. 

Mon, 05/09/2011 - 15:58 | 1256666 SheepDog-One
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Elephants dancing on the head of a pin. Tired of it all.

BTW look at oil go! Looks like 'the correction' is well over at $105. All the assertions of deflation slamfest look highly premature.

Mon, 05/09/2011 - 16:00 | 1256674 treemagnet
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I'm sort of partial to "a storm in a teacup".

Mon, 05/09/2011 - 20:14 | 1257479 edotabin
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oops someone raised the possibility of restructuring or default!

Gpap! Quick, deny everything and call the prosecutor!

Mon, 05/09/2011 - 15:56 | 1256656 NOTW777
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good ole zack k says nothing to worry about - means nothing - buy the dips

Mon, 05/09/2011 - 15:55 | 1256659 kushmere
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My question is this:

How long can one nationstate(Greece) rob another nationstate(EU) before the threats go beyond "We wont lend to you anymore?" 

Mon, 05/09/2011 - 16:11 | 1256709 css1971
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EU is not a nation state.






Mon, 05/09/2011 - 16:20 | 1256735 topcallingtroll
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Bankruptees are initially great credit risk.

Whoever offers the mostest and quickest post bankruptcy finance wins.

When everything calms.down they quietly hedge or sell the new debt. Sheeple buy it. Governments consider it tier 1 capital, and the cycle starts anew.

Mon, 05/09/2011 - 15:54 | 1256660 jus_lite_reading
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Mon, 05/09/2011 - 16:00 | 1256673 SheepDog-One
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Implosion of it all far sooner than anyone imagines.

Mon, 05/09/2011 - 16:00 | 1256687 Josh Randall
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We are all in a smoke 'em if you got 'em mode it appears

Mon, 05/09/2011 - 22:45 | 1257847 Maxter
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I hope It won't spit too much radiation into the air, because I am going to Japan with a geiger counter with the intention of going into the evac zone in a week. 

Mon, 05/09/2011 - 15:59 | 1256669 treemagnet
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Which leg....choose. 


Mon, 05/09/2011 - 15:58 | 1256676 SheepDog-One
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'Restructure', LOL what a fucking joke.

Mon, 05/09/2011 - 16:06 | 1256697 centerline
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Maybe they should use the word "contort."  At least that way it sounds funny.

Mon, 05/09/2011 - 16:10 | 1256706 SheepDog-One
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'Restructure' the termite eaten house thats falling over and caving in, bit of duct tape and library paste outta do it'....have to TEAR DOWN first! Any builder knows that!

Mon, 05/09/2011 - 15:58 | 1256677 buzzsaw99
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Take'em for all you can get Greece!

Mon, 05/09/2011 - 16:00 | 1256683 Spitzer
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And the Euro bears will say this will be the end of the Euro...(hyperinflation)

Mon, 05/09/2011 - 16:02 | 1256685 Ancona
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Greece is fooking doomed.

Mon, 05/09/2011 - 16:10 | 1256708 TooBearish
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So in other words the market is now fully priced for debt restructing...BTFD- O and the JPY is now well thru intervention levels...oops.

Mon, 05/09/2011 - 16:26 | 1256751 topcallingtroll
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The market correctly priced in the haircut a while back. The type of haircut may include a maturity extension, but total cost of haircut is known.

Mon, 05/09/2011 - 16:30 | 1256784 Cleanclog
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A 50% haircut is estimated to have about a 1/2% reduction in Eurozone debt.  Not tragic, not insurmountable.

Mon, 05/09/2011 - 16:30 | 1256786 DutchTreat
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Funny to see a country that brought us A2+B2=C2 now brings us EUR2=0


Mon, 05/09/2011 - 16:45 | 1256833 Canucklehead
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This article is a load of tripe.  It assumes the Greeks are the only parties that can play politics.

In default, Greece will be kicked out of the EU and the euro.  Those parties that politic that the Greeks should remain in will be dealt with at the polls.

Any Greek waters or sovereign assets will become EU assets.  What are the Greeks going to do, emigrate and protest?  Would they close their borders to tourism?  I suspect the EU will close their borders to the Greeks.

Mon, 05/09/2011 - 17:33 | 1257040 Real Estate Geek
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In default, Greece will be kicked out of the EU and the euro.

Oh No!  Not that!  Please don't throw me into the briar patch!

Tue, 05/10/2011 - 00:02 | 1258059 Non Passaran
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You're delusional.

Mon, 05/09/2011 - 16:50 | 1256843 agent default
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Tyler, you dont know G-Pap. He will sign everything away at a stroke of a pen.  Just like he has done already with the present IMF agreement. Everything and then some.  And by the way the IMF plan is governed by international law, not civil.  And the juristiction for the resolution of any disputes is London, not Greece.  The same will be done with the new loans.

And by the way it was G-Pap who insisted for IMF involvement in this mess

instead of keeping it within the EU.

Dominique Strauss-Kahn on tape stated that they worked underground together to get the IMF involved in this.


Mon, 05/09/2011 - 16:54 | 1256865 Urban Redneck
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The notion that a member of the EU & EMU is a Sovereign is rather funny, since they signed their sovereignty away as the price of admission.  In the event of Greek default, the EU Banker's and more importantly- the politicians in their employ, have many existing supranational jurisdiction options, and they will probably seek to further expand those options along with the collateralization requirements.  Beware - the banker offering "better" terms... 

Tue, 05/10/2011 - 06:13 | 1258392 falak pema
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not fiscally if they stayed within the Maastricht criteria...but yes monetarily as the shit has hit their collective fan via the ECB.

Mon, 05/09/2011 - 17:08 | 1256917 THE DORK OF CORK
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I am looking forward to a cheap holiday in Greece with my............ punts  - shit.

Mon, 05/09/2011 - 17:22 | 1256980 gorillaonyourback
Mon, 05/09/2011 - 17:54 | 1257106 NoTTD
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What can Greece offer as collateral?  Santorini? 

Mon, 05/09/2011 - 18:48 | 1257253 gorillaonyourback
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well if they keep it up the imf will take their asspussy :( , I say default and take the imfs asspussy

Mon, 05/09/2011 - 17:54 | 1257114 Piranhanoia
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On this one I bet a different outcome because it is going to be more logicial to the Greeks, when they have to make the choice in the next few weeks, months, year. The very reasons why you think it will be resolved I feel will be sticking points that prevent it. Greece will realize the Euro has a virulent disease that Greece must both embrace and then infect its populace with to be a part of the bigger community whole.  There is no protection big enough for that infected hole except abstinence.

Mon, 05/09/2011 - 18:57 | 1257270 NIRee
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How about, leave the EMU and get a new currency. Then inflate the f*** out if it and pay off all debt. It would make them poor but then again thats what happends when you borrow and live outside your means.

Mon, 05/09/2011 - 19:24 | 1257346 GottaBKiddn
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When Greek islands, antiquities, gold, and whatever other assets they presently hold are in foreign possession, pehaps all the other EuroSuckers will realize what has been done to them all.



Mon, 05/09/2011 - 21:02 | 1257594 zippy_uk
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Beware of Greeks baring re-negotiated bail out plans...

Tue, 05/10/2011 - 00:37 | 1258115 DeltaFunctionToronto
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You're right Tyler -- this round will still be in Euros :)

Sat, 05/14/2011 - 11:22 | 1274215 ATSC LTD
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