IMF Says Is Open To Delaying Greek Bailout Loan Repayments

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 06/07/2011 - 08:09 | 1346307 blindfaith
blindfaith's picture

grade on the curve

Tue, 06/07/2011 - 08:06 | 1346308 White.Star.Line
White.Star.Line's picture

IMF - saving overspent nations and underloved maids worldwide!

Tue, 06/07/2011 - 08:32 | 1346361 GetZeeGold
GetZeeGold's picture


IMF - International my ass....that would be the American taxpayer.


Tue, 06/07/2011 - 08:10 | 1346310 f16hoser
f16hoser's picture

Wish I could print money and force people/countries to take it. Then, charge interest and/or confiscate their assets. What a scam/ponzi!


P.s. Where's our Gold Bitchiz's

Tue, 06/07/2011 - 08:53 | 1346432 White.Star.Line
White.Star.Line's picture

If only others could see what a simple scam it is.
It just seems complicated due to its unprecedented scope of graft.

Tue, 06/07/2011 - 08:09 | 1346311 buzzsaw99
buzzsaw99's picture

Greece can't even manage their coupon payments, I guess they plan to roll the principal forever.

Greece, you're going to carry that weight. Carry that weight a long time...

Tue, 06/07/2011 - 10:48 | 1346783 Urban Redneck
Urban Redneck's picture

The US can't even manage it's coupon payments now, and since the Fed/ECB isn't an option- Geithner just skipped ahead a step to raiding the public pensions, which will actually be a side effect of a Greek default down the road.   The US also plans to roll the principal on its debt forever.

Tue, 06/07/2011 - 08:11 | 1346313 AnAnonymous
AnAnonymous's picture

Quite easy to understand why Europeans and US citizens want one of their own as the head of the IMF.

Anyone from somewhere else in the world could remember the good old IMF style and keep to it. No more sweet deals.


Tue, 06/07/2011 - 08:11 | 1346315 AUD
AUD's picture

marking of debt from mythical par levels

What, like UST's on the balance sheet of the Fed?

Tue, 06/07/2011 - 08:08 | 1346316 John McCloy
John McCloy's picture

Yup. As expected they do not really have an option. The Euro policy of " Pay us when you gots it" is about to become contagious. The only options are either leaving the Eurozone or restructuring are not acceptable. Now everyone can step up and take a bailout without any intention of paying it back simply to extend this farce another few years.
This money is never getting repaid. After the gathering in Greece they see austerity can only be bluffed. Free money for all.

Tue, 06/07/2011 - 09:22 | 1346507 Cdad
Cdad's picture

"Pay us when you gots it" is about to become contagious.

Correct.  Credit Default Swaps and a counter intuitive rally in the USD [commencing at 11:30 est] should tell the real tale.  This Greek nonsense will no longer stick to the wall.  It's all way overdue for a close encounter with reality.

Tue, 06/07/2011 - 08:12 | 1346317 the not so migh...
the not so mighty maximiza's picture

EU fuken die allready

Tue, 06/07/2011 - 08:09 | 1346319 viator
viator's picture

Haircuts, baby. We're going to need a helleva boom.

Tue, 06/07/2011 - 08:11 | 1346324 buzzsaw99
buzzsaw99's picture

Restructuring would be inconvenient for the banks. They'd have to rejigger the entire tote board.

Tue, 06/07/2011 - 08:12 | 1346326 blindfaith
blindfaith's picture

If this 'not paying the pipper' continues, we may have a sit-down strike by those who have been doing 'the right thing' all along.

Bad presidents set the pace...bail out bad banks, bail out bad companies, bail out the boat on the backs of those who played by the rules.

The EU should pass a " NATIONAL SECURITY" directive as the US did...then you can do anything you want because it is in the national security.  Easy peeizy!

Tue, 06/07/2011 - 08:15 | 1346327 equity_momo
equity_momo's picture

The ECB could just print a trillion yo-yos , no?  Sure , the yoyo-US peso rate would drop to parity taking stocks down 35% and oil to 60 but surely thats what Benny and the Jets want. Fed can then continue with QE and print themselves up another 1.5 tril to keep the lights on in DC for another year.    

Tue, 06/07/2011 - 08:48 | 1346426 Sandy15
Sandy15's picture

Can I delay all my debt payments too? 

How insane are these elitist?.....  geez

Tue, 06/07/2011 - 08:50 | 1346430 web bot
web bot's picture

I think we need a visit from Timmah the Zodiac (Banzai7) to try to help out "dos liddle geep people".

Tue, 06/07/2011 - 08:50 | 1346434 three chord sloth
three chord sloth's picture

Errr... stretching out the payments? Is that supposed to help?

Someone much smarter needs to explain this to me: How does pretending that their solvency crisis is just a liquidity crunch help things?

Tue, 06/07/2011 - 08:55 | 1346446 PeaBird
PeaBird's picture

All Europe wants is a phase transition that allows it to keep marking Greek bonds at par, and how this is achieved is irrelevant.

Isn't there a European equivalent to FASB 157? I was sure there was...

Tue, 06/07/2011 - 09:14 | 1346486 oogs66
oogs66's picture

they will find a way to keep everything at exchange, even if Moody's called it a default, would not need to be marked at market value.  the new debt would just keep the same old par marks

Tue, 06/07/2011 - 09:02 | 1346460 Monedas
Monedas's picture

John Maynard Keynes (of Tilton but never knighted) 1883 - 1946 English Econofuckmeister. Played a leading role in the establishment of the IMF. Broil in Hell ! No ice water for you ! Monedas 2011

Tue, 06/07/2011 - 09:20 | 1346496 Soap
Soap's picture

Greece just needs to tell the IMF strait up. "Look, we have morals. We would rather cheat you out of it, than steal it from you."

Tue, 06/07/2011 - 10:13 | 1346661 Mountainview
Mountainview's picture

The American taxpayer is over occupied with the US Treasury and can't even think about Greece!!!

Tue, 06/07/2011 - 11:32 | 1346951 AldoHux_IV
AldoHux_IV's picture

These same economists and policymakers are looking at the situation ass backwards or perhaps only from the perspective of what serves them versus the economy.  A default would not be bad for the economy it would actually help in the long-term and clear out a burden which is preventing the economy from truly growing. It's not a problem of liquidity or funding, it's a problem of solvency relative to an unsustainable amount of debt-- wish these assholes could at least frame the problem correctly, but as ZH mentioned it may just be more fluff to confuse and INMHO irritate anyone with at least the same amount of logic a single cell organism possesses.

In the end, these policymakers want to perpetuate the slavery of debt and will do anything in their power to maintain it even if it means shooting themselves in the face.

Tue, 06/07/2011 - 12:00 | 1347078 espirit
espirit's picture

Uh, finance the interest payment?

Gotta love that deal.

Do NOT follow this link or you will be banned from the site!