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Greece May Be First EU Default
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Greece May Be First EU Default

  #31 (permalink)
Market Wizard
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choke35 View Post
"The tribal wisdom of Dakota Indians, passed on from generation to generation, says that, when you discover that you are riding a dead horse, the best strategy is to dismount.

In modern government, however, a whole range of far more advanced strategies is often employed...."

I don't know how many of these strategies you count that have been adopted to Greece, I count several ...

Well put!

Bob.

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  #32 (permalink)
Market Wizard
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Greek timeline

fyi the current Greek agenda:

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Source: Bloomberg

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  #33 (permalink)
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Omer עומר / Israel י
 
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choke35 View Post
fyi the current Greek agenda:

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Source: Bloomberg

they will miss the redemption of that Samurai note tomorrow
that will put them in default
and avalanche of things might happen

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  #34 (permalink)
Market Wizard
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rleplae View Post
they will miss the redemption of that Samurai note tomorrow
that will put them in default
and avalanche of things might happen

To my knowledge they are trying to avoid that til the last minute.
Up to now they officially announced "only" to miss the IMF again.

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  #35 (permalink)
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I agree it is a 'relative' small amount
but when they don't know now how to pay it, they will not know it tomorrow
miracles don't happen, look what happened, they cam to Brussels without a plan...

If you would run your private finance like that.. you are broke in no time

it is ok to need money
but you will have to tell you bank some time before
no bank will give you money, if you need it by surprise and for tomorrow..

in my opinion, these guys have no idea of how to fix the situation...

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  #36 (permalink)
Market Wizard
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rleplae View Post
I agree it is a 'relative' small amount
but when they don't know now how to pay it, they will not know it tomorrow
miracles don't happen, look what happened, they cam to Brussels without a plan...

If you would run your private finance like that.. you are broke in no time

it is ok to need money
but you will have to tell you bank some time before
no bank will give you money, if you need it by surprise and for tomorrow..

in my opinion, these guys have no idea of how to fix the situation...

imho they will cut it out of the 4-5 bn € of 3-6 months T-bills/IOUs that they
issued last week. Even the Greeks know that private creditors lose patience
much faster than the anonymous taxpayers of the E(M)U

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  #37 (permalink)
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technically they should already know
it is in JPY
so they should already have bought the JPY in spot a day before

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  #38 (permalink)
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rleplae View Post
they will miss the redemption of that Samurai note tomorrow
that will put them in default
and avalanche of things might happen

@rleplae

Now it's official:
Some mins ago, Greece announced to pay back the Yen loan.

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  #39 (permalink)
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choke35 View Post
@rleplae

Now it's official:
Some mins ago, Greece announced to pay back the Yen loan.

would have been a nice profit
if you bought the bonds yesterday at 50% and get face value back today/tomorrow...

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  #40 (permalink)
Market Wizard
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rleplae View Post
would have been a nice profit
if you bought the bonds yesterday at 50% and get face value back today/tomorrow...

Mizouho bank (trustee of the bond):

"... The bonds, issued in 1995, were held by Japanese and foreign financial institutions, hedge funds and individuals. The amount issued was 20 billion yen, but the principal was cut nearly in half through restructuring. ..."
So I think it wasn't the former face value that was repaid.


P.S.: Interestingly the trustee already reported before the Greek officials (lol).

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