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Greek PM Demands Report On Default, Eurozone Exit Consequences
Ok, we get the hint. End the foreplay already and file finally. From Bloomberg: "Greece’s Prime Minister Lucas Papademos requested the country’s Finance Ministry to prepare a document on the implications of a Greek default, Panos Beglitis, spokesman for the socialist Pasok Party said. The Prime Minister yesterday told the leaders of the three political parties supporting his interim government that he asked the Ministry “to record accurately and realistically all the consequences of the country’s exit from the euro zone,” Beglitis said today in an interview with Radio 9, according to a transcript of his comments e-mailed from the Athens-based offices of Pasok." And yes, the market initially rallied just after Lehman filed. It didn't last long, because guess what, it was priced in... incorrectly.
chart: BBG
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I believe in the greek people and the greek economy. We must give them a chance to grow their way out of this. With the help of the greatest investment banks in the world, I certainly won't be betting against a greek recovery - especially noow they have a respected man of finance at the helm to steady the ship.
You forgot your < sarc > tags, growth is impossible for Greece. Unless, of course they are going to start "producing" some financial "products" - LOL!!!
A gov't "report" is going to help..... NOT.
"Ummm...... I just jumped out of a plane with no parachute. Can someone please issue a summary of what the possible outcomes are?"
LOL. Greece, you're broke. Face it and let's get on with the global reset.
Well at least the report will be easy.
1) Open email from Hank Paulson in 2008.
2) File/Replace all references from US to Greece.
3) Forward.
Simple. Come to Jesus moment Part Deux. Scare tactic worked back then why change the formula now.
Are these guys even trying anymore?
*** This Message Will Repeat to the Greek People Every Time You Are Threatened by The Money Masters ***
Go Icelandic, Greece.
Yes, you were irresponsible, and you consumed more than you produced, and you ate up all the easy credit you could order and then some (you're in good company, with the U.S., Britain, Japan, France, Italy, Spain, Portugal, Ireland and - oh, the bulk of developed & emerging nations), but that doesn't change the fact that so long as your lives and economy are set within the context of fractional reserve banking voodoo, and a framework where you can't even print your own currency, instead having to beg, borrow or whore yourself out to a loanshark and pimp to obtain necessities of life, or what is now your reality - as long as your lives and economy are set in the framework of fractional reserve banking - you will only fall deeper into debt serfdom and lose more and more of what you had assumed were your sovereign properties & wealth.
What I'm saying, Greece, in case you're listening, is that on relativistic scale, your sin of overconsumption and borrowing too much, particularly since you were "allowed into" the European Union, pales in comparison to those of the criminal racketeering organization that is called fractional reserve banking in dignified social settings.
p.s. - Don't let the anyone tell you that ya' can't default because the repercussions will be unbearable. Just the opposite is your new reality. Never go into business with an entity or person who will forever and always inherently be able to subjugate you and bend you to their will. You gave up your sovereign right to print your own currency. It's time to rectify that egregious error (just make sure your new money is directly tied to an inherently valuable asset, in order to build an automatic safeguard against the inflation-deflation, rinse, wash and repeat racketeers of finance from robbing you blind in other ways).
They'll debase your living standards by 95%, have you pay a 90% income tax, and charge you remaining 10% for the privilege of breathing (with all revenue generated going to some non-benevolent world body), and have the balls to tell you it's for your own good.
*** This Message Will Repeat to the Greek People Every Time You Are Threatened by The Money Masters ***
The letter for today is D! D is for disorganized default, debilitating debt and for Drachma!
D'ouzo
Don't Disregard Domestica or Diples.
And.. how do you reconcile that chart and PTB actions considering the 2008 short sale ban and exemption with what we might be facing now?
September 19 short sale ban
September 22 market makers / options writers exempted
October 9 short sale ban lifted
http://www.tradersmagazine.com/news/102099-1.html
Homer on Greece: DOH!
doomsday device detected, disconnect dummy dumb debt
Perhaps the most important matter for Greece and its 400K barrels per day imported is happening quietly -- namely, the Brent Spread has just blown out to $18 again. Brent is now $115.
Mmm, gas up a quarter overnight.. 3.49.9
Well said TIS. But the more I look around here in India and remember, especially 1999-2006, in the US... the assault to spend beyond your means is irresisitable except by the few. So, can't really blame anyone. If every second envelope you open is someone offering you seemingly free money.
I see it much more as a clash of cultures. Mediterranian Vs. Nordic/Cold European.
The twine just don't en-twine if you know what I mean. Just like India and Industrialization (holy cow, INDUS-trialization....hmmmm....).... anyways, awful screech of a mix here.
Given the fact that it was the banks that were whoring all that debt onto conned-sumers, ergo they must have a plan for this in-evitable outcome.
We are clearly watching an "All the world's a stage" kind of Greek Tragedy.
As they'd say in the bronx, who's your daddy, errr, Papa?
ori
/songs-for-SONGS/
Greek Tragedy ??? Try Greek Farce ....
http://en.wikipedia.org/wiki/Farce
The Greeks should be daring and bold
Default on the debt Kleptos hold
Bring Greek fiat back
Devalue the Drach
And then peg the new Drachma to gold!
Great plan but whose gold? Genmany's? IMFs? ha, ha, ha. Ahhh... The Chinese...? They got some gold.
Agreed ORI re debt in US - I was one of the few. I paid off a car loan within 2 years of taking it, instead of taking the full 5 years. But I saw plenty get sucked in - esp grad students from places like India and Europe. They had 5 - 10k balances on credit cards. Friends tried to persuade me to ditch my crappy old furniture from grad school - I said forget it, it still works well, why throw it out? Other friends told me to not go to IKEA when buying new furniture.
Lots of people coming out of grad school bought a lot more car than they needed. I even remember one of my friends trying to persuade me into spending another 10k on a car - I said to him that meant another 10k that I couldn't save. His response was "You say you'd like a better car, but you bought a small car instead. That's the problem with people like you, play it safe, play it safe, play it safe. "
I detest and hate debt with a passion. My credit card company probably absolutely hates me as I pay off my CC balance every month and make sure to use the points every year. Now however the wonderful Canadian government is probably going to bail out the banks once our bubble explodes.
[Edit] Meaning that all of my prudence may be for nothing
Just love your comments TIS
+1
U sir are a hero.....
No, but it will be interesting to see whats in it. Do they actually show the people what happens if pensions and retirement programs arent reduced radically and ask the people to decide against that vs an outright default when everything is gone...
Or
Do they say if we dont raise taxes massively we will begin shooting puppys...YOU HAVE ONE HOUR!
Stick a fork in Greece they are DONE. Finally. Next.
JUST A MINUTE.....everyone needs is to step back for a moment,quiet in the room please!! an anonymous 110lb dweebatha zombie economist is about to step to the podium and announce that he's made a calculation.
You are missing the mark of Venzelos by 3 fold in lb and completely on the specialty: Professor of Constitutional(!!!) Law.
Literally, before a proposed local tax hike to pay for police/fire/etc, the chief of police got on the tv and threatened to kill puppies to help make up the alleged shortfall...
[all the while forgetting that it takes a whole lot of puppies to make up for the cost of a single public employee].
We're all comedians, but it's incidents like this that really accentuate the joke.
And this full accounting of all possible outcomes will be written... overnight? Sounds like it will be like Hank's one pager.
Hahaha thank you - that is one of the funniest comments I've ever read on ZH. I was literally crying with laughter!
It's so funny.....................................because it's true.
If Zeus comes down from heaven, he wont be able to help you!
What do you smoke?
The only thing growing for sure are the gray hairs on the heads of everyone waiting for that to happen.
well, the captain of the Titanic was a "respected man at the helm" as well, very respected actually, he was selected for the job because he was so respected.
and we all know how that turned out...
Go away new satirical troll wannabe. MDB is fitting the bill quite nicely already and we don't need any additional troll poseurs now. Reapply in a few months if MDB retires or is fired.
It's probably the same person with multiple Zero Hedge accounts.
You need to read a little about this man's history to realise that he was one of the architects and contributors to today's mess when he was the governor of the bank of Greece for eight years until 2002 and alowed and encouraged Greeks to borrow like hell. He therefore knew and understood how Greece was cooking her books for entry into the Euro.
The Greeks should be allowed to default because only in the absence of foreign aid/austerity will they finally accept that they are masters of their fate. At that point they will either disintegrate or they will make a Herculean effort to rise from the ashes.
They need to come off the foreign teet because it makes them both far too dependent and far too colicy.
They could always apply to Turkey for annexation.
Anybody else bullish on TVIX here?
Am bullish on that shit!
but i would wait a little bit untill those fuckers default and the Viacome admit it..
The technical trend is still Bullish Bowels.
at those levels i would buy 200-300 shares and forget about them, and buy more as the S&P heads higher
It's the only stock i would buy, rest am all short
Thanks I was thinking the same (set it and forget it). I remember just a few months ago I was daytrading TVIX in the sixties during Debt Ceiling Part I. Now it's at 14 bucks!?!
The economy is doing just fine, thanks.
Ahhh, a protege of Million Dollar Bonus. Well done. You will go far young grasshopper.
"With the help of the greatest investment banks in the world."
psycho, you are aptly named. I think I am going to be sick.
Risks from Greece have been qualified and quantified sufficiently.
We know what its going to cost and therfore LTRO's were set up in order to protect the banking systems of Spain, Italy and France.
Believe me, we are ready to let the Greek and Portuguese go wherever their Mama calls them to go....
Have a good one!
Thats correct, "it was priced incorrectly". That is the issue, you can't price a situation that was so warped and manipulated to the point that the old forecasts can't predict the future of finance.
Reminds me of the scene in blazing saddles where the new sheriff points a gun at himself.
You know...in real life I doesnt work out well...Hard lessons...hard hard lessons.
"Greek PM Demands Report On Default Consequences..."
easy...FREEDOM!
Consequence, booted out of Euro, devalue. Cheap holidays for all. Economy back on track in approx. 5 years.
Pension funds collapse. Angry unions and retirees lynch a bunch of politicians. Interest rates go through the roof. Private citizens all decide to default on their own debts. Greek banks collapse. Oil imports come to a halt. People have to walk everywhere and use donkey carts to move goods. Electricity rates quadruple. Inflation runs rampant.
See, its not all puppies and rainbows. There are contingencies that must be prepared for, and action taken to prevent the worst impacts before you just throw your hands in the air and say "fuck it."
"People have to walk everywhere"
and medical costs plummet.
Just what we need in this country-can't wait for the next debt ceiling vote in October.
"Do you hear that, Mr Anderson? That is the sound of 'inevitability'. That is the sound of your death."
Freedom isn't easy. Look at what one of our cocksucker supreme court justices said about the constitution she swore to uphold & defend.
"Supreme Court Justice Ruth Bader Ginsburg has caused a storm of controversy by saying in a television interview that the people of Egypt should not look to the United States Constitution when drafting their own governing document because it’s too old and there are newer examples from which to draw inspiration."
http://dailycaller.com/2012/02/06/justice-ginsburg-causes-storm-dissing-the-constitution-while-abroad/
supreme court just another agent of the ruling wealthy elite...one shouldnt trip...its all a lie
Checks and balances are farsical when it's all liberal, wealthy, Ivy League educated elitist aristocrats.
That old windbag is dead wrong. The USA constitution would be perfect for the Egyptian oligarchs....they won't have to follow it either.
three out of nine and counting?
A good argument for a yearly test on Constitutional knowledge (and Alzheimer's!)
His reply should fit on "sticky", with plenty of room for explanatory post scripts.
Also, check the Treasury and see if there are any uncashed checks for 500 billion Euros...
What ever happened to those bearer bonds those two Japanese gentleman were trying to smuggle in a suitcase a few years back? Greece could probably really use them.
this is all coming together nicely, snidely. heh heh heh heh heh heh
The cosequences are: The Greeks are free from debt. The bankers loose some money,however they will be okay since uncle Ben will print them some more. And you loose your job, but that's okay too since you wll be rewarded for your roll in the play.
Must be incredibly close on a PSI deal...as that is what we were told for more than a month...and Politicians NEVER LIE!
I'd love to have that job; how many pages of Greek do you need in order to say: we're @#$$%? MYBE A COUPLE OF CHARTS WILL HELP.
Nuclear war on the dance floor bitchez
You bealive in Greek people growing the debt you mean! Nothing else Greece have done in tha last 100 years. Beside debt,cooking the books, cheating and lying the day light out of the world.
Pot/Kettle?
Sounds like a deal is just minutes away :)
You can't seriously believe the Greek government just now getting around to this.
My thoughts exactly.
And the Americans don't have troops on the ground in Iran yet.
Well, wouldn't that be considered, you know, like, an act of war or something?
Not if they are just on a treking holiday, 200 klicks inside the border. I guess they could send in some drones to help find those wayward tourists.
OMFG just default already.
And when/if it happens, I wouldn't be surprised to see a spike in Treasury prices that sends the 10 yield to or below 1.5%. I'll wait for the monetary responses first from the ECB and then from the Fed (QE3, no question).
Then I'll short the 10-year.....
Reminds me of the dying bugler scene at the start of "The Party" with Peter Sellers.
http://www.youtube.com/watch?v=t_JWywDqgRs
Once they default, What will happen to the ECB's holdings of Greek bonds?
Either ECB loses its capital or ECB prints the problem away.
If ECB plays by its rules, the first alternative happens.
In real life, the second alternative happens.
What happens when Greek bonds go to zero? - For the ECB - nothing - they traded all their Greek paper to the US as collateral.
getting the thought that the fed is is the open mkt doind euro usd trade
And they are doing it JUST NOW - evaluating consequences of a default? IT SHOULD HAVE BEEN DONE YEARS AGO so that they knew how much each decision would cost. I really thought they were negotiating all these years knowingly how much each their word would cost and now it looks we were talking to idiots.
And they should have sold all state property abroad long ago, are they thiking of doing it just now ? clowns :)
You actually beleive this is just happening now, lol.. This was done around a year or so ago..
Any word out of Jim Sinclair today?
Jim Sinclair did say the other day, that actually the US dollar was a bigger 2012 issue than the euro, as California was going bust imminently too, and it is a lot bigger than Greece.
Jim Sinclair is really enjoyable ... and he has some great savvy one-liner observations ...
But I don't think I've seen Jim Sinclair so cranked up over-the-top as he was about the ISDA committee opining that a Greek PSI so-called agreement for a Greek haircut of 50% or 70% was not a default.
Sinclair called ISDA:
"The most powerful body in the financial world ... This organization supersedes all governments and central banks today in terms of the financial power they edict."
As if they were the Bilderbergers, Trilaterial Commission, Rothschilds etc. all rolled into one.
Does a Greek government filed default trigger CDS' or does it take an act of Zeus?
Pffftt- CDS triggered? That's what this game is all about- figuring out how to screw over CDS holders......
If CDS holders allow themselves to be screwed over without taking appropriate action against the scammers then they deserve what they get imo.
Wait, wait, CDS's are the screwERS, not the screwIES. Infinite insurance on a limited government liability = screw the taxpayer.
Both will be screwed. We're all screwed man!
Good to see the Greeks thinking outside Pandora's box.
But Zeus will be displaced by Jupiter for the second time in two millenia soon.
And then there is Jehovah which is a cognate of Jove ?
techinically 1.3020-1.3030 area has to be broken and close below for downside to continue...i know you guys dont believe in technicals but take a look they do defend that area the last couple of times down there
I suspect that the real purpose of this so called paper on the consequences of a Greek default is really more like: Write up an "end of the world" scene about a Greek default. Make it seem as gruesome as possible so that we can justify selling out the nation.
yup. exactly. sounds familiar doesn't it?
Yep...it's a page right out of the Hank Paulson playbook.
Bingo. That's what I was thinking. The report can be used either way.
I see it as a delaying tactic.
... same here.
"Vhut ?! ... noo .. but, we cannot .. yes, tomorrow (= next week) .. when we get zhee report, yes, yes !"
Gives them time to round up some "Spekilaters" for the hanging.
Just read your comment after i posted my own above and agree 100 per cent. The idiots need to look at the consequences of their own past defaults as well as how Iceland and Argentina have fared.
The consequnces depend on whether they rise to the occasion or whether they fall back on wringing their hands an fighting each other..
QE 3.5 or where are we now??? QE 4 will be the purchase of credit default swaps to bail out greece. Either as a bank liquidification or straight up bail out. Greece still spends more then it takes in. Is losing growth. And it has debt coming to maturity every other day. QE to infinnity or default. Volatility index is also approaching a low level. The market is pricing in no danger in the future.. lol The vix at 17 is insane in these markets. The Bernanke effect or everyone has completely lost their minds. IMO
its amazing their even discussing taking more bailout money (hostage money) the politicians in greece make you sick. papandreou asks papademos to stay until 2013 why ??? so that papademos will get the hate of the greek people and not him if they take the bailout money and force a depression upon greek citizens.
do the talking bears speak greek ??
Well, there was this funky little seminar abt "optimal sovereign default" at the Bank of Portugal scheduled today which ZH posted on the other day. Maybe they can get the notes if they ask nicely.
http://www.bportugal.pt/en-US/OBancoeoEurosistema/Eventos/Pages/seminari...
Do not fade the Euro rally.
http://finviz.com/futures_charts.ashx?t=6E&p=w1
Look at the bottom of that chart for OI figures. Traders are more short the Euro than at any time ever. A paper rag is a paper rag. That short will unwind.
FFS greece is done.
The funniest demands are those being made on pensions. Jesus did they forget that Greek pension funds own $35B of greek bonds, which are being written down to ZERO (or close to it).
So the Troika can make all the demands they want. It is just hot air, there is next to nothing left in the pension funds anyway.
My thoughts exactly. Its a race to state destitution either way.
hey, li_Z! your post got me thinkin...
ruh-roh!
+1 for the 2nd, F there, smiley!
i like the use of "written down to" w/ the "ZERO" there, too
but, you see this as "being" done, so, i wonder how that is going... maybe the centralPlanners will nail it down, soon... eh?
could it be that "advanced" bankster-fascist oligarchies, seeing promised pension payments coming due, have "blown up" their
as part of an over-all strategy of me-rich/you-poor, please vore for me! trust me, i'll take care of your insignificant interests, too, ok? i promise! who could have known? who could have seen this coming? who could have thought that fiat "austerity" was actually "better" than fiatBankruptcy? who?
i know this site is in love w/ rPaul, but when this very question came up, last summer, he was unwilling or unable to challenge his own party's leadership and "lose" rightinFrontOfGod&everybody. and, he still seems unwilling, except by "runnig for prez. again"
i guess it is still "early" but it's later than you think for me. if he keeps "putting this off", drPaul is gonna be perceived by some as leading a shitload of sheeple into somebody else's campaign and suggesting they vote republican b/c that will end prez0rule and the G0P has a "paulPlank" in its platform, tooooo...
randPaul"republicans" apparently applaud this strategy, too! but that ain't me, babe!
it's not for me, that's all. when does "we can take over theParty w/ my ideas" become "fuk this party, that party, and semebody give me and mine a party if they can swing it, 'cause i'm fuking serious, here?"
personally, as i said at the time: i thought lastSummer, late july-early august would have been the ideal time for this particular politician to either shit or stop playin footsie in the stall
but here it is 6 months later, and he's still sitting there in there, farting and tapping away...
it's pretty funny seeing zH "hoping" to change america thru the republican party candiate this time too. i know: it's different this time... this guy can do it!
he'll have my support when he does. as i said when discussing this last summer: i may have been born at night, but it wasn't last night!
hey! if he get's nominated [for prez, of course], i'm voting paul! trust me!
this is wondrous!
riddle me this?
Question: if is get at least three junks for promising to vote for rPaul if he gets nominated, who is junking me?
(wishing i could write upside down) answer: people who are gonna write him in!
get it?
euro gonna b up on the day
Yup sure is siree. I now just laugh/cry whenever I look at EUR/USD and say to myself "What.The.F**k.Is.Going.On.Here?".
Your name says it all "Markets are manipulated".
It's so sick and perverse how the Central Banksters can get away with artificially manipulating and propping up these markets.
Those wiley Greeks are really smarter than the average bears. They know any typical government dept will take months, possibly years to complete a report.
Exactly. It is a CYA delay tactic.
Greek default, lol. Your taking the PIIS, next thing you will be telling us is Portugal, Ireland, Italy & Spain are going to default.
So will the bankers Prime Minister resign now and let democracy return?
You mean they haven´t studied this yet??????? Boy are they way behing the curve or what...
I guess I am not smart enough but why do you borrow 130 billion to pay back money you borrowed before and obviously can't afford to pay back???????? This is such a moronic game and the whole world is playing it. VERY SCARY!!!
Asking for a report on the consequences at this stage tells me two things;
Firstly, that the Greek government is totally inept if it doesn't already have such a report and
Secondly, they are going to produce a horror report to justify bending over to the demands of the Troika.
Of course the report exists. But how can they announce that they've been sitting on it all this time?
Hence this official request at 5 to 12.
Let me guess: it will be baaaad.
Ding, Ding, Ding... EXACTLY RIGHT! Cats and dogs living together, frogs raining down, all the first born dead, Mediterranean turns to blood, and oh yeah, p.s. bankers have to take losses...
It's just poker:
- Raise you a Deadline...
- I'll see your Deadline and raise you a Default Report!
Is reality FINALLY sinking in for the Socialist Gyro Heads? Unfucking believable, about time they had to take a bite of the shit sandwich.
The End game begins when thre patient understands that he is dying. Past the denial stage, early into the anger/angst/blame stage is where we are at now. All segments of the death scene are not equal in time, or passion. Acceptance is the key.
So long Greece, the party is over.
If greece defaults then they will have been cured !! taking the bailout money is liking injecting themselves with cancer.
Can someone explain the real connection between default, and "leaving the Eurozone".
I don't get it. Corporations file bankruptcy all the time. They aren't required to stop doing business in a given currency. Of course not. That would be completely retarded. Kicking Greece out of the Eurozone does not strengthen the Euro.
I have a novel idea. If you don't like Greece's debt problem STOP LOANING THEM MONEY!! Creditors should ALWAYS be the first line of defense against irresponsible borrowing.
Corporations file bankruptcy in a court empowered to expunge the debt.
No such court exists for interntational sovereign debt. No one has the power to instruct creditors that they may not collect.
A Greek bondholder faced with a declaration from Greece that they won't pay can just shrug and keep sending demands for payment, while compounding the amount and watching for when Greece assets leave Greek territory. They can then be confiscated.
The creditors have to agree for a default to actually matter.
1) There can be no default. The banks won't acknowledge it and will continue to send payment notices.
2) The EU can't permit Greece to do this painlessly because of Italy, Spain and the rest seeing it as a precedent.
3) To deter that follow-up event, the EU will have to take over Greece's government somehow and impose the austerity.
4) Correct, it has to be absurd to believe no such report was not already produced.
and that will probably start a revolution.
Can someone with connections in Greece please forward this link to the Greek PM.
http://www.zerohedge.com/news/bcg-presents-one-chart-explain-implications-leaving-euro
Implication number One: No more swallowing
Implication number Two: Self Respect
Implication number Three: You can finally look yourself in the mirror
It is inconcievable that this report wasn't commissioned 9 months or more ago. This is a negotiating tactic.
Hey I have this report already. Or at least the same information.
It's a children's book entitled "There's a Monster at the End of this Book!"
They can save some quasidrachmas and just read this instead.
it's the Greek Apocalypseageddon report.
much like the one that was produced in here in the states and passed out to congress after the housing market blew up remember, end of the world, blood in the streets, homeless zombies eating everybody...
hey here's a thought maybe the Greeks can just swipe a copy of that report, change some names and a few details, and volia' the last vestiges of Greek independent statehood will be washed away in a soothing flood of fiat paper forgetfulness.
of course they will still have to eventually address the homeless zombie problem...
Greece just default already. bernanke has been waiting to use the real bazooka, a "BANK HOLIDAY/MONEY DEVALUATION" it cures all the banks balance sheets and Fux all the savers. and ben cant stand people not playing the game the way he has designed it, that will teach those savers a lesson.
Dear Greece,
for debt advice please ring the ICELAND helpline, and tell your bankster ar*****es to get f*****d
....
When UK's debt can be 1000 % of its GDP and still have a strong currency ... why not Greece?
The market is laughing at you Tyler.
There is no market.
There is only a digital playground where computers do not buy and sell to predict -- they buy and sell to dictate.
g3 I'm laughing at you
market=captured money laundering scheme and you will be rinsed,spun,dryed and stuck in a lint trap
The report just came back:
"no, no".
said it before and i will say it again..no way no how will greece default. this is the game the bankers use to process more fiat thru greece to their pockets. if greece defaults they have no front......15min before the deadline, an announcement will be made that an agreement has been reached.
papaLuke may read zH, tyler!
he seems to agree w/ your "timeline" analysis even if pTchir thinks you're full0'shit
papaLuke doesn't like that blindfoldedJedi "trust the force" stuff, huh?
i'm sure the report he gets will be more optimistic than tyler's ww.greekcreampieScenario\banksters\\counterparty//justAddGlycerine.con
aren'tchew?
What a fucking charade. Only now they are investigating the effects of a bailout. That's like waiting until a couple hours before the term paper is due to start doing research.
Wait a minute, CNBC had an article just the other day that said a Greek deal was imminent. (and the day before, and the day before, and...) What happened? This is shocking news. Who would have thought Greece wouldn't accept more austerity and that it couldn't pay its debts with only 479% interest? </end sarcasm>
Dipshits at CNBC just didn't sat whatthefuck was imminent.
It is imminent. As in over and done with. Has been for a long time.
Why do I get the nagging feeling I am going to be reading about a possible Greek default this time next year?
If there is one thing to admire about these elist crooks, it certainly has to be their ability to kick the can down the road. At this point I wouldn't be shocked at all if what you said is true.
damn right budfox these elists should form a futbol (soccer) team with their skills for kicking cans.
No.....
You mean that they'd default for the second time ever in history?
Angie must be knotting her drawers up with those soft snow white thighs right now, thinking of the politicians revenge to be exacted, after giving those useless buttfuckers all that money, they'd go an not pay it back?
Like, WTF?
Knukles, you think they got the money? It went to French and German banks and possibly the same countrie's weapons industry as has been laid out on ZH before. Propping up their own banks as much as they can before the Greeks get it and give them the finger (which I hope they do)
Perhaps she will be pissed by the fact it didn't last longer though.
/R
Hair Today gone tomorrow
Greek haircut becomes skinhead.
The question to be asked is why Papedmos is making this statement publicly? I'm sure Greece hasn't at the last minute pondered the consequences of a default.
Hi from a newbie reading from the rails for a year. Clearly this suggests more of a communication effort than anything else, to warm up to the fact everyone already know(i.e default). It is just supposed to look like they now are "zhinking about" it. Step 8 of 10 for the coming default in my view.
/R
doublepost/R
So if the prediction for is a pending 'Lehman type' event, are you all selling all of your gold, bitchez?
It would seem prudent to sell now and buy back after the crash, no?
Just wondering.