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

Tyler Durden's picture

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DK Delta's picture

This shouldnt' even be news anymore. It's impossible to pay this debt back. 

SheepDog-One's picture

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.

treemagnet's picture

I'm sort of partial to "a storm in a teacup".

edotabin's picture

oops someone raised the possibility of restructuring or default!

Gpap! Quick, deny everything and call the prosecutor!

NOTW777's picture

good ole zack k says nothing to worry about - means nothing - buy the dips

kushmere's picture

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?" 

css1971's picture

EU is not a nation state.






topcallingtroll's picture

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.

jus_lite_reading's picture




SheepDog-One's picture

Implosion of it all far sooner than anyone imagines.

Josh Randall's picture

We are all in a smoke 'em if you got 'em mode it appears

Maxter's picture

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. 

treemagnet's picture

Which leg....choose. 


SheepDog-One's picture

'Restructure', LOL what a fucking joke.

centerline's picture

Maybe they should use the word "contort."  At least that way it sounds funny.

SheepDog-One's picture

'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!

buzzsaw99's picture

Take'em for all you can get Greece!

Spitzer's picture

And the Euro bears will say this will be the end of the Euro...(hyperinflation)

Ancona's picture

Greece is fooking doomed.

TooBearish's picture

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.

topcallingtroll's picture

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.

Cleanclog's picture

A 50% haircut is estimated to have about a 1/2% reduction in Eurozone debt.  Not tragic, not insurmountable.

DutchTreat's picture

Funny to see a country that brought us A2+B2=C2 now brings us EUR2=0


Canucklehead's picture

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.

Real Estate Geek's picture

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!

agent default's picture

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.


Urban Redneck's picture

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... 

falak pema's picture

not fiscally if they stayed within the Maastricht criteria...but yes monetarily as the shit has hit their collective fan via the ECB.

THE DORK OF CORK's picture

I am looking forward to a cheap holiday in Greece with my............ punts  - shit.

NoTTD's picture

What can Greece offer as collateral?  Santorini? 

gorillaonyourback's picture

well if they keep it up the imf will take their asspussy :( , I say default and take the imfs asspussy

Piranhanoia's picture

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.

NIRee's picture

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.

GottaBKiddn's picture


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.



zippy_uk's picture

Beware of Greeks baring re-negotiated bail out plans...

DeltaFunctionToronto's picture

You're right Tyler -- this round will still be in Euros :)

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