This page has been archived and commenting is disabled.
Here We Go Again: Greece Will Be In Default Within 15 Months, S&P Warns
Remember Greece: the country that in 2010 launched Europe's sovereign solvency crisis and the ECB's own helpless attempts at intervention, which later was "saved", only to default shortly thereafter (but without triggering CDS as that would end the Eurozone's amusing monetary experiment and collapse the Deutsche Bank $100 trillion house of derivative cards), which later was again "saved" when every single global central bank made sure Greek bonds became the only yield-generating securities in the world? Well, the country which at last count was doing ok, is about to not be ok. Because according to none other than S&P, at some point over the next 15 months, Greek debt is about to be in default when the country is no longer able to cover its financing needs. In other words, back to square one.
As Bloomberg reports, citing Real News, S&P analyst Marie-France Raynaud said Greece can’t cover its own financing needs.
How is that possible? Isn't Europe so fixed, it no longer has anything to worry about except deflation, pardon, inflation?
Guesst not. According to Bloomberg, S&P estimates Greek financing needs for the next 15 months to be at EU43 billion.
This is a problem because even if Greece sells bonds this year and next, sales won’t be enough to cover net financing needs. So maybe Greece will sell more bonds? Well, the problem with that is that the second the LIFO paradigm of bond investing no longer works, and the last guy in may be stuck holding the bag, nobody will want to buy 1 penny in debt issued by Greece.
The specifics: S&P estimates Greece will draw EU5 billion from intl bond sales, EU20 billion from internal mkt, EU12 billion from official lenders inluding the IMF in next 15 mos. S&P also forecasts Greece will repay EU3 billion in bonds held by investors who refused to participate in 2012 debt writedown, and if it doesn't then Greece will following Argentina in being held in "contempt to court" fo cramming down foreign law covenants. Just kidding: that would mean the global legal system actually works instead of serves merely to make the rich richer.
As for Greece, it appears that suddenly the idyllic image of its recovery is about to be torn to shreds and the Syntagma riotcam will have to come out of hibernation.
Or maybe it won't. In a case of populist pandering that Obama himself would be proud, at the same time as the S&P report hit, the Greek premier Antonis Samaras said in a Kathimerini op-ed that if political stability isn’t threatened, Greece won’t need emergency loans in few months, and will achieve final settlement on public debt. He added that liquidity in Greece will be restored after ECB stress tests on country’s lenders and that in stark contrast to what S&P just said, Greece doesn’t need new bailout agreement, no new loans.
Actually, it will. The backdoor left open by Samaras is that "achievements will be endangered in case of political instability, and if parliament has to elect president" adding tbat the "government will not allow those who want country to commit suicide to have it their way."
In other words, Greece will default the second the people start protesting the crushing, and very simple math, and they decide they have had enough of the technocrat and appoint another president. Because, you see, it is not that Greece implemented zero reform, and rooted out the pervasive cooruption that saw billions in foreign "aid" end up in offshore bank accounts of the political oligarchy, or the simple math of sources and uses of funds: it is the danger of the Greek people returning to what they did best in those days of 2010 and 2011 when every other day saw a riot in the center of Athens, that will be the straw that finally breaks the camel's back.
And thus we go back to square one, as we always said we would, when only timing was a matter of debate. Well, we now know the timing: T minus 15 months and counting to yet another Eurozone collapse.
»
- 23800 reads
- Printer-friendly version
- Send to friend
- advertisements -
coming to a city near you!!
#bugged_out
The banksters will loan you money to stay solvent until ALL THE LAND, LABOR AND RESOURCES are either controlled or outright OWNED BY THEM.
All with money created out of thin air...
There is nothing paper cannot solve
...Joe Biden may be the Black Swan triggering WW 3
"Turkey's President Demands Biden Apologize Over Comments About ISIS"
Go Joe!
Wait, this was fixed /sarc
Greece should be renamed Krugmania.
"GREEKS Need MOAR Bailouts"
WOW... WHO Could Have Predicted THIS ???
It will be less than 15 months. The present gov't has 6-9 months maximum to pull a magic rabbit out of its ass.
I think you meant to say donkey.
In case anyone missed it, Mr. Panos explains everything you need to know about the Greek financial crisis:
(Volume warning at the ten second mark, NSFW)
Financial "Crisis" in Greece
or they could balance their budgets and shrug off the yoke of their EU financial oppressers
jb
on your assistance as well !
"Welcome to Krugmanstan! Thank you for flying BernankeBus Airlines, we hope to see you again soon!"
Hopefully the Greek finance ministry upgraded their archives from garbage bags to plastic bins. Yes, lots of paper and another 20 summit meetings and they'll be squared away, good for another 5 years.
Your humorous sarcasm aside, there is virtually nothing that brains and balls can't solve. Unfortunately for the Greeks, they lack both in adequate amounts.
Centuries of Serfdom under the Aristocrats and colluding Church, has turned them into Sheeple.
In the final analysis, a People deserve their leaders.
Wait. Are you implying that it is actually DEBT that leads to insolvency??
How novel...I doubt you'd get any Central Bankers to go along with you though. ;-)
Central bankers will talk their way out of this mess like they always do, "calming" investors. Same ol' bs.
Elsewhere: Ben Affleck's warped Islamoapologism too much for Bill Maher, mayhem ensues http://tinyurl.com/p6779pb
Ben wasn't just apologising for Islam. He was apologising for all dumb-superstitious irrationals who believe in gods.
They are doing everything they can to delay the inevitable. The collapse of the EU and the collapse of the Western banking system along with the US.
LOL!
Yeah... Those bonds had a great return... To bad nobody will ever get the interest... Or the inlay...
Here we go again... CDC officials have removed passengers from a plane that landed in Newark Saturday afternoon following a possible Ebola scare. United flight 998 from Brussels landed at Newark Airport and has been met by Centers for Disease Control officials based in Newark after passengers on board, believed to be from Liberia, exhibited possible signs of Ebola.
Fuck banning flights from Africa, the USSA needs to ban flights from your neck of the woods...
So what about all the locals Thomas Duncan and these two crossed paths with at the airport in Brussels...
We will know the true story in 21 days.
Counting Numbers:
12 monkeys, Patient Zero, Omega Man
Shit, if we can keep it contained in NJ, it could be like having our cake and eating it too!
(Sorry, if you live in NJ, you should GTFO with or without Ebola.)
Solve too much debt by borrowing more money !That could work
France doesn't have that long
Plane quarantined at Newark airport. No one allowed to get off flight
http://www.nbcnewyork.com/news/local/CDC-Officials-to-Meet-Newark-Plane-Carrying-Sick-Passenger--278121131.html
Wasn't Brussels Duncan's changeover spot before coming to the US?
LOL @ the CDC
http://abcnews.go.com/Health/cdc-officials-meet-flight-passenger-shows-ebola-symptoms/story?id=25965383
After they were off the plane and it was determined he was not contagious, the rest of the passengers were allowed off, a source with knowledge of the situation told ABC News.
------
It was determined? How and by who? Doesn't it take 12 hours to confirm?
A guy from Liberia barfing on the plane...yup. All good. Everyone else can go.
https://www.youtube.com/watch?v=5NNOrp_83RU
I suspect that is the reason that they are responding like this. Praise the Lord and pass the barf bag.
Thomas Duncan now in critical condition.
http://www.bbc.com/news/world-us-canada-29493759
God forgive me for saying this, but it would be better if he did not survive. If he pulls through it will be the same as if Disney World offered a free day. ANY person who has exposure and means to get here will do so.
Also the thing I have not seen mentioned is the time Duncan spent in the waiting in the er on his first visit. A fever and abdominal pain do not rate high on the trauma list. So he is sitting there, sweating, and after 3 to 5 hours goes to an exam room. In the meantime others, SOME with children, are taking his former seat. Have any of you WATCHED young children?
fonz, I'm expecting air travel to be cut off to the public in due course.
I am flying out of JFK very soon. Poop.
So this flight came from Brussels...can't they just look at the barfers passport to see if he transferred there from ebolaville?
This place has been West Ebolaville from the moment that first doctor who got it was flown back here.
No way. Ebola himself will make sure this thing gets into every major airport in Amerika. Need maximum chaos to bring on their New Bolshevik agenda.
I guess that is true. Well... they're gonna shut it off after enough 'carriers' (you only need to 'show' 'symptoms') make it through and they are satisfied.
We're sorry, due to the potential spread of ebola, all elections will be postponed until a later date to be determined.
The evils of this world are mutating. Pretty soon it will be Obola and Ebama that we are talking about.
g'kar wrote:
"We're sorry, due to the potential spread of ebola, all elections will be postponed until a later date to be determined."
Don't forget bank/ATM holidays.
If it gets to that point, given the giant sucking sound that already is middle class consumer spending (that's not procured through EZ Debt), we will all know, 100% full on, that there's an uncontrolled outbreak that's real.
"Don't forget bank/ATM holidays."
Yeah, that'll be part of the coming staycation.
I would assert that politicians have been a worse plague than Ebola!
Dollar index will be well over 100 by the time this settles out. That should put gold about $800-$900. Silver around $10. From there we await the next crisis.
Your comment is completely inaccurate and foolish. The usdx is going to tank.
Fear will drive people into bonds and p/ms, or just pain old cash that won't be traded through MMF(money market funds).
If Ebola speads through the county (USA)it will paralyze commerce and supply lines.
Yen, you have forgotten more about currencies than I will ever be able to learn. With that said, DXY is going to 95. Bonds may stay bid somewhat (I expect a steady rise back to 3% on the 10yr by New Years) and gold will end the year around $1,100.
Just my guesses.
If Ebola goes walking dead then all bets are off.
To each their own Fonz. That's why it's "fight club". I don't really correlate gold to the USDX, because there's so much manipulation through forward buying and selling. (hedging physical)
I can assure of one thing though. The U.S. isn't the "safe haven" you've been able to run to in the past. Just because $ cash is in demand, doesn't mean it's reflected in the money markets.
If bond yields rise like you're predicting, equities would hypothetically selloff. Where would that cash go?
You're due for a break Fonz. You had that hurricane, and now the freaking plague is just around the corner. I hope you make millions and buy a tropical island to raise your children on. :-)
You are invited to the island anytime. I gave up 2 years ago. My cash is safe in the spy and anything I'm willing to risk is in 3x spy as it should be.
Forget it man Ebola is a game changer I'm sure of it
Never a better signal to go short than Fonz going beta long. LOL....
hmmmm, could ebola cause a run on cash? wouldn't be good for the overall economy.
It will crash but not before soaring. Its a crowded trade to be sure but could become even more crowded. Even a whiff of Greek default will send the Euro further south. Obviously, a black swan event could hit the Dollar, or conversely, the Euro so that would be anyone's game.
It's already up 7.00% since the end of May. All of the central banks have pretty much laid their cards on the table.
Draghi disappointed the markets last week... Japanese macro has been terrible so Abe can't raise taxes or print more yen. That means Japanese bonds (JGB's)are coming under pressure again.
The usdx will retrace before it decides whether or not to head higher. The dept ceiling and deficit are coming back into view before the EOY again. Lower energy export profits will fuel that debate. If it just bounces around before the Midterm elections, it will selloff hard afterwards.
Fielding you are spot on..... Gold is not priced in dollars, anyone who can run a correlation can see that.
Euro certainly to 1.15 before 1.30 again. Next big event will be how Nigel does.... If UKIP goes big look for that mood to spread, and a 1.10 before year end. As that goes so will the dollar carry trade, see point 4 below.
USA is still the worlds reserve currency, Ebola wont change that. Its still the best grapefruit in the dump.
The 10 is untradeable because it will go where the fed wants it to go. If the fed can unwind a couple of trillion in a sub 2.5 percent market they certianly will do that. The 10 much above 3 for any duration, and that will be the permanent end of housing...
Its not going to be a smooth ride though in any direction.
delete
Uhhhhh... S&P, the SEC may want to have a word with you about telling the truth.
Just ask EGAN JONES.
what can go wrong?
Elephants, Bubbles & Destiny
San Francisco never saw a bubble it didn’t like, including gold, and now its champion heads the Fed, throwing small businesses on the street to make way for more empty units to be constructed and demolished, in defense of humanism, a scapegoat for Congress, which is a scapegoat for landlords, capitalists hoarding dead inventory and socialists occupying space, all redefining labor to their own ends, claiming manifest destiny, that they control resources and therefore have the right to govern the future, that a bipolar market can outlast all intelligent investors. Sound familiar?
Your destiny is your own, unless you choose to join the majority, forever repeating its past, with the latest sidewalk survey confirming itself. The quants busy themselves building derivatives of derivatives, and the damsels in distress can’t gain any traction, lost in the same past, imprisoned by their own emotions, on a bipolar pendulum to nowhere.
Most succumb to the arbitrary reason of majority, civil family, by age two, and most of the rest, to civil culture, by age sixteen, extensions of gravity, noise in the clock, what’s good enough for them is good enough for you. And if you ask them why, the cornerstone of their reasoning is always the behavior they see, always a closed system subject to diminishing return. When your children ask you why, the answer is to develop their talent, building skills for the purpose, to find another, in the future.
The something for nothing bait and swap, the articulation gap between natural and man-made law, engineered by the physician empiricists placing consumption ahead of production, massacred the Indians and will breed you out as well, if you let it, first by printing away the lower middle class and then by starving the upper middle class, dependent upon rents subsidized by the global trade in the human flesh, feeding until boom and slaughtering until bust.
Natural resources per capita are rising, signaling the socialists to print some more, but they have no exchange except with themselves, and the first step of manifest destiny is to sever the relationship between humans and nature, leaving the capitalists to fight over dead units and unions to build more of the same. Gold gets its turn, and fails in short order, like all the rest.
Let the critters test their theory, that an irrational market, of that which is neither rare nor necessary, can outlast all intelligent investors, individuals with talent and skill. The empire collapses following a series of booms and busts, creating a virus for a reason, Natural Law. That taper is a titration, and the 1% is neither the problem nor the solution, but merely a double-edged sword, with which the upper middle class consumes itself.
If you do nothing, the empire implodes. If you chase corporations with corporate skills, you accelerate the implosion. Economic mobility is a function of connecting the empire from and to nature in another direction, skills which the physicians breed out of existence, to favor themselves. Labor has no problem with the Queen and her physician; they are the problemsolution.
If you want to explore the universe, the path is through that sun, not what you were led to believe. Dad kicks the kids out and Mom brings them back for another try, for a reason, but you do not have infinite do-overs, or equal rights, because each and every human being on this planet is unique, until they decide otherwise for themselves.
Contrary to popular belief, no government or collection of governments, capitalist, socialist or communist, all versions of feudalism, owns this planet, conservation easement or no, as the planet demonstrates on a regular basis.
‘Seeing the elephant,’ the majority joins the circus, manifesting yet another bubble as its destiny, to be popped like all the rest, carnival barkers in a line, on a temporary bridge. There is spacetime for all things, but life is not about things. Wealth depends upon what you value. Choose that which is timeless, and the empire noise disappears.
Funny thing about Leonardo, Galileo, Edison, and empire confirmation – the passive until aggressive socialists create and protest war, for which the banks print the money. The socialists and capitalist keep time, that’s all. And there is nothing sacred about the second, the minute or the hour, conventions all. Don’t send your children into that machine expecting anything else, and don’t waste you time negotiating the price of extortion at the toll booth everyday, damsel in distress or no.
“If you find from your own experience that something is a fact and contradicts what some authority has written down, then you must abandon the authority and base your reasoning on your own findings.”
Absolute incomprehensible dribble ... If you can't get a point across in less than a paragraph don't bother. Try practicing on twitter (140 characters or less).
Twit
I don't believe they will be in default in 15 months or less. Reason? They think up new stuff to keep the Ponzi going every day. Greece has time to benefit from all those financial geniuses ideas, as they can implement all that before they hit the predicted wall. Furthermore, don't worry; you can't default if no one is willing to declare you defaulted.
not this time, all american system is crashing now, every country need to find their own way to survive.
Come on Hedgers...keep the faith!
All together now....
Draghi, Draghi,
He's our man!
If anyone can save Greece,
Draghi can!!!!
(total unadulterated sarcasm)
Draghi will not able to save even himself at some point in time
Here we go. Another down week in the works!
What part of "devaluation"are you missing? The cost of food and energy has risen over 100% since the GFC in 2008.
Central banks have loaded the global system with almost $11 trillion in that time. China(PBoC) the worlds growth engine has doubled their balance sheet, and still has mountains of iron ore rusting at ports.(at the lowest prices in 8-10 years)
No amount of printing will increase demand because the devaluation it's caused, has caused wages to deflate, and reduced purchasing power.
The window blinds are starting to crack open.
Slowly revealing.
On Q99x2 the particles do not have hair. That is because it was all pulled out the last time we followed the default of Greece. I have a question. Is Greece going to default?
To answer you a little bit more fully, it is my view that the whole world will see and experience some sort of default.
It's all Bush's fault.
No one could have predicted this. No one.
Your sarcasm indicator isn't turned on!
I don't do sarcasm indicators.
If ebola continues its exponential climb, everywhere will have experienced economic collapse before 15 months has passed....
http://olduvai.ca
I would like to see a graph with the correlation between the US dollar and the Ebola count.
So what should the little people do?
prepare themselfs by buying food or leaving usa.
I was thinking more like suround the police station and help them do thier jobs right.
One day dollar will lose its value and you can't afford to buy something - need i tell you what's will happen next?
- total chaos
No what will happen is the grown ups will have to be grown ups again. Back to local currencies and local goods. All that is global will die.
leave usa to go where, europ ? lol.... nigger importer of ebola plane was coming from brussels...
there is not a single fucking place to hide, excepted behind the rifle canon, aiming anybody coughing within 10yards perimeter
Kill their television.
Get their shit in order.
Make photocopies of all cards in your wallet or purse.
Make plans to meet up with friends or loved ones locally and at a remote safe location.
Be ready to handle whatever comes next.
Get out of the Ebolistan (Sunbelt and Tropics) and move to to Snowbelt.
Ebola dies at 4C. Avoid crowds and indoor markets (malls).
Bon Jovi - Livin' On A Prayer
http://www.youtube.com/watch?v=lDK9QqIzhwk (4:09)
Have any greek government workers actually been laid off yet? Serious question.
Short answer is yes and those that survived have had their paypackets mutilated.
http://yanisvaroufakis.eu/2014/03/01/what-you-should-know-about-greeces-...
Another EU episode of 'cash burn woes' under systemic risk crisis. And the beat goes on..
Tones On Tail - Gohttp://m.youtube.com/watch?v=g6hpAihC3Qk
No worry. Nothing super Mario can't fix. After all there is anough thin air left to generate moar money.
You hear that? Blessed are the Greek.
The Greek?
Mmm. Well, apparently, he's going to inherit the earth.
Did anyone catch his name?
http://olduvai.ca
And blessed are the Cheese Makers. And those rolling in dough.
I thought that they were already in default?
And damn! Why are their women so UGLY?
That's all I care about.
Maybe someone can chime in and explain!
I love tan women! Don't get me wrong, but damn!
Come on! The game is musical chairs. You advance by issuing debt and selling it to your neighbor who sells his debt to buy your debt. Ireland, Spain, Italy are great players.
Debt is the enemy, as we all know. Debt is slavery...TV is slavery....drugs are slavery...fast food is slavery...
Death, by law, to banksters and their stooges.
In the early days of the crisis Greece had the opportunity to threaten default or even to actally default so as to unravel the whole system and bring on a painful but quick resolution. Greece was at that point in the driver's seat and could have threatened to take its European passengers over the cliff. Instead it handed the steering wheel to Europe which promptly tied Greece up and put her in the boot of the car. Since then Europe has been driving around aimlessly and running out of petrol.
Whatever was done to save Greece was done only to save Europe's hide by delaying the inevitable and to asset strip Greece
Bail-ins baby, until there is no more...
I see quite a few comments about Ebola.
Perhaps the game plan is to allow it to spread and cull the herd before releasing either a cure or antidote. I am just speculating wildly but then again we have all witnessed an increasingly insane world developing around us.
Does anyone still believes in banksters-controlled rating agencies? "... the famous markets with the banks and the rating agencies, clearly prove through their own actions that they act purely with political criteria, although they try to persuade for the opposite, by producing technical analyses through which supposedly 'evaluate' national economies. How else could we explain the fact that Moody's has chosen this moment of time to upgrade Greek bonds, when the condition of the Greek economy, according to the data, is much worse than 2010 when Greece was excluded from markets? When there is not even the slightest sign for the 'coming recovery'?" http://failedevolution.blogspot.gr/2014/08/a-new-message-from-internatio...
furthermore Samaras' BS is only the known propaganda of fear, blackmailing voters to vote for "political stability", meaning not to vote SYRIZA: http://failedevolution.blogspot.gr/2014/10/greece-system-ready-for-war-t...
"Does anyone still believes in banksters-controlled rating agencies?"
With respect, but the the banksters own the the rating agencies AND the political class.
So while the game may be difficult to discern, be assured that it is a game, and a game designed for them to win.
An American, not US subject.
"Bankster accounting: One for you, and a 'printed' one that steals yours for me."
Small price to pay for the elites to cash in..
So lets see...
1) Bail ins for everyone
2) Remember that IMF recommendation for a 30% on all assets?
It is about to be tested. Greece seems to be a test case.
They wii be the first default then.
I look forward to the day that the EU's "leaders" join Italy's:
https://www.youtube.com/watch?v=Kw4noLIFgGQ
Damn, better stock up on that Greek Olive Oil soaps with the Socrates face on them.
Yay! Another season of Greek Financial Crisis! A recap of last season's prime characters:
Papandreou - Greek President, aging hippie, wishes he were back at Berkley smoking weed & playing guitar Venizelos - Greek Finance Minister, jolly fat man, wants money and doughnuts Trichet - EU Bank President, corrupt banker, wrote the cook book on cooking books Von Rompuy - EC President, renowned for his brilliant mind and athletic skills, considered a "hunk" by the ladies Strauss-Kahn - IMF President, disgusting pig-man, horny enough to bird-dog Angela Merkel Merkel - German President, typical tightwad German, always worried about how to pay the bill Sarkozy - French President, Socialist Utopian, never worried about how to pay the bills Berlusconi - Italian President, aged billionaire playboy, as horny as Strauss-Kahn but with discriminating taste in hookers Farage - British politician, rebellious rabble-rouser, prone to hollering pointed zingers from the bleacher seats Sausage - Greek Riot Dog, unknown ancestry, likes chaos and dislikes uniformed copsCentral Banker cap on.......
You can't get out of Debt unless you have more Debt to get out of.
Solution: give them another loan to pay off the existing loan !
Last time the extortion and theft was quaintly labeled a haircut
This time it will be a scalp
Maybe there is a Greek Argentine hookup around the corner. They could lick each other's wounds.
I can't wait to see what happens when Germany decides to annex Greek land for compensation on their defaults.
This time there are Greeks outside Greece as well.
So ANYTHING can happen.
Germany? Rather internationalist bankers from Wall Street and from The City.
I can't wait to see what happens when Germany rejects the ABS-idea of the ECB, which would immediately lead to higher rates for Greek bonds and just a little chance to get the needed loans from the free market.
SEIZURE.
Cyprus was the test.
Greece will never fix its' tax system nor its' corruption.
corruption is to the so called western democracz and free market inherent. How do you want to get rid of corruption, if the US president needs one billion to get elected and after he gets elected, he has to pay the billion back?
Greece is the economic Chinese food. After you default you feel like doing it again an hour later.
Unfortunately, the can will likely be kicked again by another refi from Germany.
who buys it?
A complicated route for face-saving reasons, but ultimately German taxpayers.
Angela Merkel really loves the EU, the EUR-zone and all the associated political nonsense. She has won her election so she will spend without limit to preserve these systems.
Actually, technically not quite 'without limit'. Limit is when AfD (the German party wanting the DEM back) starts becoming a threat to her...
Watson
What ECB bailout # is this already? I lost count.
The EU always has to respond with, "It's fixed!"
Israel2
You have to admit, a cluster of annexed Aegean islands are far more beautiful than a lump of sand and rock at the unfashionable end of the Med. with an irritating sub-species in the way.
Still, you have to forgive them. Even zionists make mistakes sometimes.
The Greek crisis gets worse or better, depending on what the jewish masters and their muppet in the White House will want to do.
Nah... they will be selling Greek citizenship to rich chinese... They won't default
The Greek Protestors need to take note:
The Police are allowed to use rubber bullets, tear gas and extreme violence because Greece is a Democracy and you (the Greek ppl) voted for this.
We simply need one PIIGS+F to fall into complete chaos to blow up the whole System.
15 months?
They are technically bankrupt since 7 years, their foreign debt and domestic debt is increasing and tax revenues decreasing.
There have been announcements last year, that Greece found oil and gas fields in its Aegeis shallow waters, but those have to be explored and sold, or somehow monetized.
So Let me see, if the Shells and Exxons will now move from Black Sea and Ukraine to Aegeis and Greese.
Or does it all (Mediteranean) belong to Tel Aviv and Athens is just waiting for their approval?
A. Greece will not default as Angela Merkel won her election, and (if push comes to shove) will use German taxpayer money to cover any shortfalls.
The time to be concerned is _after_ A. above, because A. will develop AfD's policy of Germany returning to the DEM. But that is all for the fairly far future.
If you want a near term EUR-problem, look at France...
Watson
I'm getting to old for this shit..
One of these days I'm going to quit my ZH account and stop reading the gloom and doom conspiracy theorists on the internets.
Today I stumbled onto a video stating round earth is a hoax. That's when I realised I have to find another hobby, before reaching total insanity..
That's the plan - to drive the thinking folks mad by fomenting too many outrageous conspiracy theories on the interwebs.
It's all a coordinated effort by the NWO, Skull & Bones, Mossad, the Bilderbergs, the Illuminati, and those fucking mysterious folks behind Barney the Purple Dinosaur and his damned "We're all in this together and there's enough SNAP cards for everyone if we all just learn to share" message to the kiddies.
Currencies are IOUs, glorified and pretty pieces of paper printed and handed out by governments. Whether because of modern printing options or in an effort to thwart counterfeiters most of us will admit countries have raised the bar concerning the appearance of their currency.
This has almost become a full blown beauty contest and taken our minds off what is really behind these pretty little tokens. A piece of paper with great power, based only on faith, they are mere promises of stored value and wealth, and the value of these promises can change in an instant. With this in mind the Euro may not be the best place to store your wealth. The article below delves deeper into currencies as a great "Trojan horse" for governments to fleece the average citizen of their wealth.
http://brucewilds.blogspot.com/2014/10/currencies-are-ious.html
Not exactly the same, since 2010, Greece has ventured a secondary tranche of collarteral, including ocean front properties, and various public works, as ZH hath reported earlier this year.
When reeling in a really big fish...the more it wiggles...the hook sets deeper into the bone, till the bone or the line is broke, or the fish is landed. Two hooks & lines this fish Greece shall come in belly up.
I'm not proud the US Congress legalized CDS & the like, back around 1985. But I don't know the specific law legalizing CDS...
...can anyone be of some help to me specifying the exact law that made CDS, CDO's legal in the USA?
wwxx
Samaris is doing badly in the polls so that is why he says what he says. Greece should have defaulted in 2009. They would have had hard times but they have hard times now as well. 60% of the population lives just above or below the poverty line. 1/3 of the work forece makes 300 euro per month. Now the country is stuck to bailouts they need to pay back.
Well, Greece can always join the BRICs.
the greeks have darwinized themselves as did millions of americans, live off what the govt. gives you, and what you can make on the side, which includes payments for rioting, and voting for someone who won't change things.
Seems pretty weird to me that through the IMF,the U.S. can give away taxpayer money by the billions to help out everybody else around the globe but there's next to no money for their own kind, ie: Detroit, no,the federal government would rather belong to all these corrupt world organizations and let their own people go hungry and even without running water.What a fucking disgrace Obama really has become to black people who voted for this phoney asshole.He calls himself a Mason?What a goddamn laugh.
Financing needs of about €40 bn of which about almost €20 bn are T-bills and internal repos ….I think that they comment on isolated sentences of S&P of technical nature and miss the big picture...which is the balanced budgets
Financing needs of about €40 bn of which about almost €20 bn are T-bills and internal repos ….I think that they comment on isolated sentences of S&P of technical nature and miss the big picture...which is the balanced budgets