With less than 4 hours until the Greek PSI deadline (8pm GMT), the time to start spreading rumors has arrived. Sure enough, courtesy of Reuters:
- SENIOR GREEK GOVT OFFICIAL SAYS TAKE-UP IN DEBT SWAP EXCEEDED 75 PCT LATE LAST NIGHT
Needless to say this conflicts with what all other media reports on the topic in this latest headline frenzy. Then again, in the game of the Schrodinger PSI, where the quantum participation state is 0% or 100% depending on whether one collapses the Lie function, the only sure thing is that there will be a Dead Schrodinger Cat bounce before the CAC is triggered shortly and the market tests just how firewalled it is to a Greek CDS trigger.
More from Reuters:
Greece's bond swap is going well, the country's finance minister told a cabinet meeting on Thursday ahead of a 2000 GMT deadline, one cabinet member told reporters.
"Venizelos informed the cabinet that the PSI (debt swap) is going well, there are no surprises," said a minister who took part in the meeting and declined to be named.
Athens must secure the deal as part of a financial bailout that will allow it to redeem debt coming due in less than two weeks. Missing that repayment would potentially destabilize the euro zone's financial system and undermine the euro