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What Greece Owes, And More Importantly - When!
Greece is negotiating with its eurozone creditors to get more aid before the indebted government runs out of cash. Here’s what Greece owes, when.
The Long-term...
But the short-term has plenty of major hurdles...
and the breakdown in 2015...
And Greece now has a bigger problem as The ECB has pulled the plug on its bond ponzi...instructing Greece’s biggest banks to refrain from increasing their exposure to Greek government debt, according to people familiar with the matter.
The ban on Greek banks increasing their exposure to the bills poses a severe challenge to Greece’s government, which faces several major debt repayments in early April. So far is has been able to repay maturing T-bills by selling new ones. But bids from foreign investors have been dwindling. If Greek banks can’t replace foreign investors, then the stock of outstanding T-bills will decline—and the government will need another source of cash to repay them.
Cash, however, is precisely what Athens is running short of. Another loan repayment to the IMF due April 9 is followed by two T-bill repayments in mid-April.
Athens officials insist they have enough money to survive through mid-April, but that it depends partly on how much tax revenue comes in. Greek officials say the government’s liquidity situation has many moving parts and keeps shifting, so that it is hard to say how long the country can continue without fresh bailout aid.
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They should bring Leonidas out of retirement - he did more with less!
The Greek Debt Saga is like a bad case of hemorrhoids – it keeps swellin’, burnin’, bleedin’, and never gets cured. ;-)
Looney
Give up control of your money and you have given up.
We all serve central bankers. What to do? What to do?
What else...kick he can with more sub-prime soverign debt.
Sorry to hear about your hemorrhoids problems.. ;-)
I'd like to see the Greek FinMin 'Veryfukas' turn into "Leonidas II", and do this* to the Troika and that Lagarde biatch
"This is Sparta!"
* https://www.youtube.com/watch?v=4Prc1UfuokY
* https://www.youtube.com/watch?v=EsAZr3puSaI
Only problem is finding 300 working Greeks.
Now or never?
talk about tension highs
if you owe the bank 5 Million. The bank has a Problem.
If, in turn, you also owe the police force, the army, and the pensioners 5 million, you better be nice to the banks.
Greece forms a Commission to audit public debt
OPA!
so, they owe about 20B to treasury debt holders and then the rest to the ECB/IMF/other Euro countries? ROFL. yeah....i'm sure they will endure more austerity for the EFSF/ECB/IMF. this is hilarious.
over the last few years how many times have we heard about Greece
a) running out of cash
b) Grexit
c) default
?
How many times?
And has any of it happened?
No.
When you can print money to maintain a fEUdal society to your advantage, you will do it, and you will lie about it.
Nothing will change.
I'd like to see someone write a piece to that effect, that nothing will change. Please.
Been over 5 years now and nothing but kick the can.
Even their radical new government caved and fell into line with EU 2 weeks after taking power.
Greeks will become poorer and desperate and more money will be passed to them to contain the problem.
Semperfi as much as I agree with you, there comes a point where there is no more can kicking. You can print all you want, but then the population is starving in mass, then you have a problem. The price of bread and income spent on food are the biggest precursors of revolutions/upheaval (generally when 40%+ of you income is spent on food, things start getting interesting).
Also, when the government start blaming the current situation on old foes and brings up history, you know shit is about to get heated!
d) Greek military coup?
borrow from hans to pay pierre!!!!
sounds like a well thought out plan......
It never ends. For a hamburger today, I'll gladly repay you on Tuesday.
Soros smiles as Greece goes down the drain. That's Classical! Assets, Assets, come and get your assets.
the more i think about it, the more i think bernanke is the devil. he openned pandora's box with this QE shit. now everyone around the world thinks they can just rack-up huge debts and at the end of the day, some phantom "central bank" will just swoop-in and launch a QE program to save the day. i can't even believe these dickheads on CNBC who are saying "look, germany is making a new high & the lfo data was up ... QE in europe is working!". they just launched it and all it did was drive the german bund from 1.00% to 0.215%. what data are we basing a "success" rating off of? the fact its jacked-up the german stock market on steriods or the lfo data (which was recorded before any effect lower rates would have had? i guess im the idiot whose still looking at record unemployment in the eurozone, no growth rates and still pointing to unsustainable debt which forces higher taxes as the issue. not moving interest rates down 0.75% as a winning strategy.
Remember, every board member of the ECB has said either war in Europe is unavoidable, or that Europe will be at war with itself within 10-years. And that was said 2 or 3 years ago.
CNBC is an infomercial. Always has been always will be. I'm thinking that "Stopped Watching"® (judging by their numbers) would be more appropriate tag line than " stop trading ".
I am thinking this is another part of the Cloward Piven plan execution to 1. Overburden the social welfare state programs, 2. Bury the financial system in debt., 3. Cause catastophic economic failure., 4. Cause wide spread uncontrollable chaos and riots., 5. Introduce the new world order to save us., 6. Fit you with you yoke and chains.
Greek lightning can solve many financial problems!!
http://tbo.com/pinellas-county/fire-destroys-zorbas-nightclub-in-tarpon-springs-20150318/
Rather owe it to you than cheat you out of it.
I used to employ 45 people and making payroll everyweek was a living nightmare....I worried about it all the time...the pressure of running a company....Greece has to go begging to make thiers...I never did.....
Looks like if they get through 2015, it's all downhill then. ;)
free uzo for the masses...
"Folks, we're defaulting. We shall not be repaying next May [this MAY] the 6 billion we supposedly owe the European Central Bank."
-Yanis
Hummmmm
The http://www.eurocrisismonitor.com/ spreadsheet shows that the Target2 (interEU balance sheet) shows that the Greek bill is now:
-91157 - in millions of Euros - that is 91 BILLION Euros owed - is that right?? for Feb 15 - one month OLD data! And UP 50B Euros from Nov - 3 months run rate. Another 50B in another 3 months and that puts it at 141B in May 2015... Holy Hole in the Monetary Bathtub, Batman!
I guess this does not show because this "balance sheet" debt doesn't have a due date?????
I O I O its off to the IMF I go!
And Greece now has a bigger problem as The ECB has pulled the plug on its bond ponzi...instructing Greece’s biggest banks to refrain from increasing their exposure to Greek government debt, according to people familiar with the matter.
Prohibition on dogs eating their own doodoo
Black Swan in May.
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... But that it partly depends on how much tax revenue comes in
Shouldn't there be a joke icon there?
Just send a bunch of Timmy Geithner Edition Turbo Tax Software packages over to Greece....problem solved.
Lets use Varoufakis villa house as a collateral for a new bonds issuance.
About thet May payment I am gonna be just a little short.
If we could just become a bank instead od a debter nation. hmmm.