Greek Default: Why Now May Be Best Time to Do It - News and Current Events | futures io social day trading
futures io futures trading


Greek Default: Why Now May Be Best Time to Do It
Updated: Views / Replies:4,900 / 97
Created: by GridKing Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Greek Default: Why Now May Be Best Time to Do It

  #91 (permalink)
Elite Member
San Diego, CA USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
GridKing's Avatar
 
Posts: 3,650 since May 2011
Thanks: 588 given, 877 received

UPDATE: Greek Government To Announce PSI Results Early Friday

ATHENS (Dow Jones)--The Greek government will announce early Friday the results of investors' participation in the country's ambitious debt restructuring plan, known as the Private Sector Involvement, or PSI, a person close to the finance ministry said Thursday.

An announcement will be published Friday morning at 0600 GMT on the official government website for the exchange [www.greekbonds.gr]. The deadline of bids is Thursday at 2000 GMT.

Greece is optimistic the participation will surpass 75%, people involved in the process said. "The participation will be quite substantial," one person said. "The target is to hit 80%."

Asked if Athens will enforce collective-action clauses he said: "We will have to see the final number and we will then decide in agreement with our partners in the euro zone." However another person close to the process said that activating the CACs "is almost certain."

UPDATE: Greek Government To Announce PSI Results Early Friday - WSJ.com

"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Reply With Quote
 
  #92 (permalink)
Elite Member
UK London
 
Futures Experience: None
Platform: NT and XTrader
Favorite Futures: Piano
 
Posts: 1,358 since Sep 2009
Thanks: 1,356 given, 1,551 received

"Legal skull-duggery in Greece may doom Portugal"

""The rule of law has been treated with contempt," said Marc Ostwald from Monument Securities. "This will lead to litigation for the next ten years. It has become a massive impediment for long-term investors, and people will now be very wary about Portugal."

At the start of the crisis EU leaders declared it unthinkable that any eurozone state should require debt relief, let alone default. Each pledge was breached, and the haircut imposed on banks, insurers, and pension funds ratcheted up to 75pc.

Last month the European Central Bank exercised its droit du seigneur, exempting itself from loses on Greek bonds. The instant effect was to concentrate more loss on other bondholders. "This has set a major precedent," said Marchel Alexandrovich from Jefferies Fixed Income. "It does not matter how often the EU authorities repeat that Greece is a 'one-off' case, nobody in the markets believes them."
Legal skull-duggery in Greece may doom Portugal - Telegraph

Every moment I wake up I realize I know nothing, and then I smile...
Reply With Quote
 
  #93 (permalink)
Elite Member
San Diego, CA USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
GridKing's Avatar
 
Posts: 3,650 since May 2011
Thanks: 588 given, 877 received


"Traders priced in the profound doubts surrounding a programme which aims to cut Greece's debt from a towering 160 percent of its annual economic output now to a slightly more manageable 120 percent by 2020.

On the grey market, they indicated prices far below the face value of new bonds which will be issued to creditors on Monday."

Greece averts immediate default, markets skeptical | Reuters

"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Reply With Quote
 
  #94 (permalink)
Elite Member
San Diego, CA USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
GridKing's Avatar
 
Posts: 3,650 since May 2011
Thanks: 588 given, 877 received

Greek bailout gives Europe time to build defenses - CBS News

"The bailout — plus an agreement endorsed Thursday by most private lenders to reduce Greece's debts — "does more to protect Europe from Greece than for Greece itself," says Jacob Funk Kirkegaard, research fellow at the Peterson Institute for International Economics."

"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Reply With Quote
 
  #95 (permalink)
Elite Member
San Diego, CA USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
GridKing's Avatar
 
Posts: 3,650 since May 2011
Thanks: 588 given, 877 received

Statement by IMF Managing Director Christine Lagarde on Greece
Press Release No. 12/72
March 9, 2012
Managing Director Christine Lagarde of the International Monetary Fund (IMF) today made the following statement on Greece:
“Today I have consulted with the IMF’s Executive Board and on that basis, as discussed with the Greek government, I intend to recommend a €28 billion (about US$36.7 billion) arrangement under the Fund’s Extended Fund Facility (EFF) to support Greece’s ambitious economic program over the next four years.
“Restoring competitiveness and a sustainable fiscal position will require Greece to undertake sustained and deep structural reforms over a prolonged period. My decision to recommend to the IMF’s Executive Board that the Fund should continue to assist Greece in this endeavor by providing substantial financial support over an extended period of time would be commensurate with the long-term nature of the challenges facing Greece and with the significant financial contributions provided by the private sector and by Euro Area member states. The scale and length of the Fund’s support is a reflection of our determination to remain engaged.
“I welcome the cooperation of the private sector in participating in the debt exchange offer by the Greek authorities. This is an important step that will dramatically reduce Greece’s medium-term financing needs and contribute to debt sustainability. The IMF’s continued support would be part of an integrated package where all parties—the Greek government, its European partners, the private sector, and the Fund—would play their part to help the Greek people overcome this crisis and over time restore growth, thus contributing to broader global financial stability.
“I will put this proposal to the IMF’s Executive Board next week for review.”

"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Reply With Quote
 
  #96 (permalink)
Elite Member
San Diego, CA USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
GridKing's Avatar
 
Posts: 3,650 since May 2011
Thanks: 588 given, 877 received

Greek Credit Swap Auction Set For March 19

http://www.isda.org/uploadfiles/_docs/ISDA_Briefing_GreekCredEvent20120309.mp3

"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Reply With Quote
 
  #97 (permalink)
Elite Member
San Diego, CA USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
GridKing's Avatar
 
Posts: 3,650 since May 2011
Thanks: 588 given, 877 received

List of Bonds which have been submitted

ISDA - International Swaps and Derivatives Association, Inc.



Quoting 
When we have been given the data on Greek sovereign debt it appears we have been misled. I have added up now the ISDA debt issuances and I present them to you; all of these issuances are GUARANTEED by the Hellenic Republic; full faith and credit.

GREEK SOVEREIGN GUARANTEED DEBT AMOUNT

The New Economy Development Fund $139,000,000.00

The Hellenic Railway $2,240,000,000.00

Structured Notes (Not counting Floating Rate Notes) $20,683,000,000.00

Athens Urban Transportation $837,000,000.00

Greek Bank Guaranteed Debt $83,314,000,000.00

TOTAL GREEK GUARANTEED. DEBT $107,213,000,000.00

Here is $107 billion of OTHER debt; guaranteed debt that does not appear to be included anywhere in the official Greek sovereign debt figures. Contingent liabilities that are not counted any longer perhaps as the accepted manner of doing business now in Europe. Most of these issuances are governed under British law with “Default” clauses and “Negative Covenant” clauses. Greece defaults on €105 billion Euros and adds new debt, the IMF/EU loans, of 130 billion Euros and we are told that Greece is better off today than yesterday. What drivel! With the addition of the new IMF/EU loans of $172 billion and the revelation of the guaranteed debt at $107 billion Greece now has $279 billion of new and hidden debts.

The Greek ?107 Billion Contingent Liability Gorilla Exposed | ZeroHedge


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter

Last edited by GridKing; March 11th, 2012 at 11:54 AM.
Reply With Quote
 
  #98 (permalink)
Elite Member
San Diego, CA USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
GridKing's Avatar
 
Posts: 3,650 since May 2011
Thanks: 588 given, 877 received

High-Yielding New Greek Bonds Fail to Lure Investors

High-yielding new Greek bonds fail to lure investors | Investing | Financial Post

"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Reply With Quote

Reply



futures io > > > > Greek Default: Why Now May Be Best Time to Do It

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Greek Debt Wrangle May Pull Default Trigger GridKing News and Current Events 0 January 27th, 2012 08:20 AM
Greek referendum could mean CDS Greek default trigger GridKing News and Current Events 2 November 1st, 2011 06:10 AM
How a Greek Default Could Tip The US Back Into a Recession Quick Summary News and Current Events 0 September 19th, 2011 05:50 PM
Greek Debt Rollover May Be 'Default': S&P Quick Summary News and Current Events 0 July 4th, 2011 05:30 AM
Greek Credit Default Swaps Up on Restructuring Report Quick Summary News and Current Events 0 April 18th, 2011 06:20 AM


All times are GMT -4. The time now is 05:22 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-18 in 0.14 seconds with 19 queries on phoenix via your IP 23.22.136.56