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Here Comes The Greek Brady Plan Together With 35% Bond Haircuts...And A Caption Contest
Just in case you were expecting a full recovery on those Greek bonds stashed away under the mattress (ahem ASSGEN) here comes Euro Intelligence to spoil your day (and maybe, just maybe, wreak some havoc with your CDS). In a nuthsell: we are about to see a Brady plan with 35% haircuts. If true, we may be seeing some pretty interesting unintended consequences in the near to very near-term future.
From Euro Intelligence:
We think this story from To Vima
in Greece is true. It contains a lot detail about discussions currently
under way for a future Greek debt restructuring. The paper says that
the EU, IMF and the ECB have reached basic agreement that a debt
restructuring for Greece is inevitable, with the following concrete
options being discussed. 1. A haircut of 35%. Technically, this will be
an exchange of existing bonds with bonds of 65% of their value. 2. A
bond swap to 30-year bonds with low interest rates. 3. A new loan
package of 25% of the previous volume. The paper recalls the Brady plan,
under which the US organised a similar debt swap for Latin American
debt, with the help of a Fed guarantee. The paper also quotes Greek
sources as confirming that they no longer expect the rebound of growth
to happen immediately.
More importantly, here is today's caption contest. The winner gets to cross their ZR bid which at last check was locked limit up.
Have at it.
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Sarkozy "Angela we need big balls like you."
Panpandreou "Yes big balls like this big."
Merkel "Stop fucking following me you lowlife trolls. Go fuck yourselves, your debt addiction and monetization. We've done the Weimar thing already and now it's your turn! Oh and take that Barroso creature with you I don't even know why he's here...same goes for that Van Rompuy shit. Trichet! Get my Preparation-H you'll be applying it thick today toady."
We understand that you are the one in charge.
Merkel: "Everyone is looking at me... they know this isn't going to work. FUCK! Why didn't I listen to the Russians?!"
Popandreou: "If I move my hands while Sarkozy talks, I may yet still convince the world I am competent..."
Sarkozy: "Trying to... look like.. I believe....the words.."
Trichet: "Are we done yet? I can't miss Ben's call again.."
"Angela, I bet your nipples are like the starter button on a 53 Ford."
"Have at it"...
"You're German, ORDER that damn Greek behind us to stop putting his hands out in PUBLIC"
35% less value at 10x as long maturation. Stellar investment...
Bruce Krasting called this move months ago - hat tip to Bruce.
"...and after my toga dropped, she said - oh, you must be Berlusconi's cousin!"
Pap- Shouldn't SHE be the one getting a haircut
If the Greeks are allowed a haircut why should the Irish pay full price?
It's going to a be a race to the haircut bottom in Europe.
That's where it is going to get sticky. Either way, it doesn't look good for bolstering confidence in the Euro and European banks.
You can short the Euro/USD now, Orly ! Seriously; I mean that/s seriously my opinion. Of course, I've been wrong before; really, really wrong. But, that's what the chart looks like to me. Big profits on the short side for the next month or so. Cheers.
Merkel:
I wish I'd worn something more substantial than this thong.
"Angela, you need to calm down. Just remember what Barry said. When the SHTF we can hide with him and his birth certificate. No one will EVER find us."
Right to Left:
1st: We don't have a choice.
2nd: I told you so.
3rd: My career is so f over.
4th: As if I pay attention to anything you say, byaches. DO I drop the dead weight or do I drop the euro, cost benefit analysis, ..calculating, calculating, calculating.
F, riots are the game changer - no flashy statements, kick the PR responsibility to clowns on the "right", must devalue euro.... calculating, calculating, calculating.
p.s. I like the Iron M., while others were just talking, she has been winning the cold trade war since 2007.
Cozy relations with Russia & securing the energy imports - checked
Cozy relations with China & running a trade surplus with them - checked.
Dumping goods onto the rest of Europe - checked.
Navigating the credit crunch while managing to bail out German banks with the least cost to the German taxpayers (all hail IMF & friends across the lake) - checked.
Finding new emerging markets for German heavy industry exporters - in progress.
Dumping the EU at the most convenient moment, when no one expects and contingency plan in place - to be done.
pps. Contrary to the rest she is not in politics just for the fame and recognition, she is there for the game and to achieve her individual & country agendas... others (WH) better learn.
" All this talk about CDS's and bailouts is making me a bit horny Angela...would you..erm..like to join me and Carla for a bit of a menage à trois at my place later... what say?"
Merkel: I don't think having this meeting at Silvio's house is such a good idea.
Sarkozy: I'm zee fooking G20 leader now so shut up your pie hole, madame.
Guy in middle: I've been to meetings at Silvio's. You should see the staff he has working for him.
"It is not really a haircut . . . instead, think of it as a Brazilian!"
Sarkozy: You have to be the one to announce this Angela. You're the only one with the balls to do it.
To the left: It's true....I've seen them. They're like this big!
Further left: I can't get the image out of my head.
Sarkosy to Merkle.....So Angela how do you like Greek Style?
Guy's face behind Merkel says it all .
That's José Manuel Barroso, President of the European Commission ...
Great hilarious short video here related, Barroso publicly told in the European Parliament, that he's looking 'like he has seen a ghost' in his reaction to the economic crisis:
'The Euro Game Is Up! Just who the hell do you think you are?' - Nigel Farage MEP -
http://www.youtube.com/watch?v=Fyq7WRr_GPg
Ireland got the print the money.
Greece gets the haircut
Portugal wil get....
Spain will get...
The rest of Europe will get...
Everybodies hand is reached out and they all want it to be filled with Euros.
Question is: WHERE DOES IT KEEP COMMING FROM!!!!
AND THE EURO KEEPS GOING UP!!!
At 1.39 I'm going short on the euro. (unless the portugal and spain doesn't get the handout before 1.39)
They are preparing the markets for something worse.
Clean up the little mess, so the big mess "can be handled" without the rest of the details.
Sarkozy: If we just ignore the bum behind us with his hands out, he'll go bother someone else.
35% is just a start...they still will default after they get as much of your money as they can..then they will default..typical Greek
So... if we give up 35% are we still in the top 1%???
I'm so confused.
Sarkozy: "This business will get out of control. It will get out of control and we'll be lucky to live through it."
Sarkozy: A penny for your thoughts.
Merkel: Depend.com
Hey sarkozy. That greek dildo you told me I had to take up the ass is starting to hurt.
LOL
This is bullish for everyone! Free haircuts save you money!
Might go short Supercuts, though.
Sarko (le nain malfaisant):
- Angela, zis is our chance to relaunch the franco-german moteur...
Angela (aka Honecker's revenge):
- Casse-toi, pauvre con.
Sarkozy: "I'm afraid to bite the hand that feeds"
Merkel: "We all are"
Sarkozy: “You remember last week--when you said we should all buy up a load of Greek CDS? This is really kind of funny...I thought you meant compact disks...hehe...later I will play some George Dalaras for you.”
Ang to Paps: You think You're pretty smart back there, Paps, with Your Diego mustache and greasy hair.
Paps to Ang: Baby I got Your money, don't You worry!
caption:
papandreau: "alright sarkozy. it's all going to plan. the time to expose herr merkel to the world as a female impersonator is at hand. bwahahahaha. i'll grab the scrotum and lift - you pop the prostate. ready - GO."
Someone contact Parker Brothers, we've got a great currency for their next issue of Monopoly.
Ok, we'll go with the wardrobe malfunction to disctract the media!
35% percent? That's how much beef there is in a Taco Bell Taco, and they can still call it beef.
"Please stop talking about those shitty Godard movies already."
Merkel "Walk me through this. I give G-Pap the strap-on from behind, and Sarko gives him the reacharound?"
Papadreou "No reacharound! You will ride me like a dirty cowgirl"
Sarkozy "If there's no reacharound for me, I'm out of here!"
Vinz
We're so screwed, looks like Zero Hedge was right!
Merkel- "Fuck, Ackermann's got pictures."
EU working on "Brady plan" for Greece - report, 30 January 2011, Athens (Reuters) http://uk.finance.yahoo.com/news/EU-working-Brady-plan-Greece-reuters_molt-3605463482.html
EU may extend Greek, Irish bailouts to 30 years – sources, 28 January 2011, Davos - Switzerland (Reuters) http://uk.finance.yahoo.com/news/EU-extend-Greek-Irish-reuters_molt-1660788862.html
Europe bends over to help Greece rip up debts, 28 January 2011, (AFP) http://uk.finance.yahoo.com/news/Europe-bends-help-Greece-rip-afp-1799571752.html
"Lady Gaga a man? Nom de dieu de putain de bordel de merde de saloperie de connard d'enculé de ta mère."
hair cuts are so 20 th century
bikini wax em back to solvency ...
Why do I find this funny?
Sarky:All we have to do is come up with another name for HAIRCUT!
1) "Beware of Greeks Bearing Bonds"
2) "Haircut? Why... I stil have some depilatory cream!"
Angela, don't forget we have the donkey video . . .
Sharokzy "We cannot afford to keep bailing out bankrupt states!"
Merchel "What do you mean 'we'...? "
Springtime for Hitler and other Diversions.
Haircut?
Sarkozy: "Sacre bleu! I asked for a wash, cut and blow dry and what I got was a wash, cut and blow job."
Sarkozy: Merkel, take the last hit of sunshine, three is my limit !
Boss Sarkozy:I told you to wear black and act somber, like you care or have some skin in the game.
Faker Pappa: But I'm doing that !.
Mensch Merkel: I'm not acting !
Sarkozy: At least Bush is gone.
Pappa: Can I rub her neck?
Merkel: STFU !
αγορ?σει το βουτι?, σκ?λες
Sarkozy: Do it for Europe!
Pappa: My hands are open.
Merkel: I need a vacation...
"I'm glad that's over. Anybody wanna hop over to Berlusconi's for cocktails?"
one criminal banker to the other "man we're making a killing in this bond market w/ these interest rates going up". The bond holder's will not take the haircut, the proposal hardly will get the merit it deserves; the dm's stand to profit to much.
Here's an answer, have some major division of the greek government pull all of its funds from the private banks, and incorporate their own state bank, like the BANK OF NORTH DAKOTA; Which could then lend the government money at a much better rate, and pay dividends from profit back to the gov.
caption: no Saz I don't want to hear any more about your rising popularity in France.
Barroso: "Mierda. They're going to sell us to the Chinese."
Papa: "You don't want the island?"
Sark: "Eh, so I was telling you about this sauce..."
The Merk: *walk away and they will think you are strong*
+1 LOL
caption: no Saz I don't want to hear any more about your rising popularity in France.
Lili Von Merkel: [singing] Here I stand, the goddess of desire / Set men on fire / I have this power. / Morning, noon, and night, it's dwink and dancing / Some quick womancing / And then a shower. / Stage door Johnnies constantly suwwound me / They always hound me, with one wequest. / Who can satisfy their lustful habits? / I'm not a wabbit. / I need some we... [Takes a breath] ... est.
Lili Von Merkel: Tell me, schatze, is it twue what they say about the way you people are... gifted?[sound of zipper opening]
Lili Von Merkel: Oh, it's twue. It's twue. It's twue, it's twue!
Lili Von Merkel: Would you like another schnitzengruben?
Bart Sarkozy: No, thank you. Fifteen is my limit on schnitzengruben.
Lili Von Merkel: Well, then how about a little...
[whispers in his ear]
Bart Sarkozy: Baby, please! I am not from Havana.
Lili Von Merkel: Will I... see you again?
Bart: Well, it all depends on how much vitamin E I can get my hands on.
and they quote Keats and Shelley
then flop on your belly
and pop your balloon
All together now:
Oh, we ain't got a barrel of money,
Maybe we're ragged and funny
But we'll travel along
Singing a song
Side by side.
Don't know what's comin' tomorrow
Maybe it's trouble and sorrow
But we'll travel the road
Sharing our load
Side by side.
Through all kinds of weather
What if the sky should fall?
Just as long as we're together,
It doesn't matter at all.
When they've all had their quarrels and parted
We'll be the same as we started
Just a-traveling along
Singing a song
Side by side.
"why so distraught?, ben is spending the night tonight"
(singing)
Oh, we ain't got a barrel of money,
Maybe we're ragged and funny
But we'll travel along
Singing a song
Side by side.
Don't know what's comin' tomorrow
Maybe it's trouble and sorrow
But we'll travel the road
Sharing our load
Side by side.
When they've all had their quarrels and parted
We'll be the same as we started
Just a-traveling along
Singing a song
Side by side.
Caption: French President Sarkozy asks Angela Merkel to pull his finger, while Popandreau asks to do it and José Manuel Barroso ponders his penis.
Papandreou: Sarkozy, the EU is like Merkel porn, its not for everyone.
Sarkozy: Ahhhhh
Barrasso to Sarkozy and Merkel: "You're my Gyros"
.
"So, that's 25 happy meals. One fish fillet, to remind me of her indoors, and don't forget yourself, Angela.
“Don’t get me wrong, Ange. I never said German engineering wasn’t great. I just said have your tailor give Silvio a call.”
"Pap, how can you even compare souvlaki to coq au vin! No wonder your economy is such a basket case."
Papandreou: Oh my god, what did she sit in ?
look... I'm really sorry the condom broke. It's not my fault!
Sarkozy to Merkel:
“He has agreed to impose austerity on Greece with only two conditions. One: he must be paid in gold. Two: we extract him from Cairo, immediately.”
“What do you think he meant by Euro Disneyland?”
[Alt]
We have a deal then. As part of the settlement, Greece will be the new home of Euro Disneyland and its thrilling roller coaster ride, The Pirates of Benzance.
Admeet it Angela...We only closed the deal because I threatened them with zees imaginary handgun...Heh, heh...and ZAT ees why Carla calls me 'mon petit pistolet'!!
Papandreou: " these fuckers behind me have bills to pay and all they need
is some balls, big ones, to carry the day."
Angela Merkel: " the balkans are like my right one, peering into the grave. "
Sarkozy: " It has been reported that certain drugs increase the chances of déjà vu occurring in the user. Can we meet, i will give you a taste and then some of the Benwha stash."
Seriously, folks, we have a winner and he's a blindman, ironic and hairy.
Nothing on earth can top, "the balkans are like my right one, peering into the grave."
Made my day.
http://www.youtube.com/watch?v=d0ImM1aJXfw
Papandreou: "We want to make sure that Greece is...
..
credibility gap
Merkel: I need a new bears' video to cipher that shitstorm I think just went on in there. Did that just happen?
Sarkozy: You'll have to pry these francs from my cold dead fingers!
Papandreou: Sometimes, you just have to say, "What the fuck!"
Caption Contest:
"You're in good hands with Merk-kozy, bitchez..."
This Eu situation is getting annoying at least the Tunisians and Egyptians have ballz to do what they do. Like the signs they hold it's "Game OVER'.. Who would have thought the biggest threat to the Fed would come from the ME? If the revolt contagion spreads ..Oil goes over 100-150-200 per brl and it's permanent price level. Similiar to Obama freezing Govt salaries at record high levels.
Look at the tension in the world with a Dow at almost 12k!!. this is why I think it's going to get a whole lot worse. Stocks are out of synch with the negative mood.
Here's my second best:
"I'll have a $25 Billion hamburger... For which I will gladly pay you... Tuesday."
P: Techinically were not broke we are a soveriegn state.
S: Germany will not let you fail. They will bail all of us out.
M: WTF!?!?!?
There are only three final outcomes to debt :
Repayment
Default
Part repayment part default
The problems of excessive debt and leverage cannot be solved by taking on more debt and leverage. The ponzi scheme can only go on till you have someone willing to lend you money to pay the previous lender. The game stops when your cost of borrowing becomes exceptionally high or there is a shortage of lenders willing to lend.
Madoff Multiplied
http://www.marketoracle.co.uk/Article24581.html
Merkel the ventriliquist, "Everybody fucking be cool. Guy behind me, hold it together! Everything's fine, and we're talking about something grand. GBM! You look like you are shitting your fucking pants! Remember, we're talking about all the positive change coming."
Merkel: "Are you making fun of my breasts?!?!?"
G-Pap: nods at Sarkozy "No, I'm admiring his balls."
.
I've read all the comments down to the bottom here and I've never laughed so much in a long time.