Think the ECB announcement to do undergo a pseudo OSI impairment is a done deal? Not so fast - Germany may yet throw a wrench in there. According to Bloomberg, next week German lawmakers will conduct three votes on Greece among which:
- the €130 billion Greek bailout package... Wasn't it €145 billion by now?
- the empowerment of the EFSF to guarantee Greek government bonds held by the ECB
- the guarantee of Greek government bonds held by private sector after the debt swap
So while according to "sources" the ECB has already reached an "agreement in principle" to provide Official Sector debt relief, Germany may once again come out of left field with a blocking veto after German taxpayers realize that once again the ECB is throwing money down the drain on its Greek bond holdings, because as pointed out earlier, someone sure is taking a loss on those very same Greek bonds, no matter how convoluted the ECB-EFSF non-arms length and incestuous relationship.