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

  #41 (permalink)
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choke35 View Post
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).

yes, interesting, I read an article yesterday quoting "biggest possible IRR if the debt was repaid"
but clearly the author missed that info... that 50% was the max to be expected reimbursement

illustrates how toxic this is,
if you're not on top of it,
better not touch it

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  #42 (permalink)
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rleplae View Post
yes, interesting, I read an article yesterday quoting "biggest possible IRR if the debt was repaid"
but clearly the author missed that info... that 50% was the max to be expected reimbursement

illustrates how toxic this is,
if you're not on top of it,
better not touch it

Always the same s*#t: There's simply no free lunch

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  #43 (permalink)
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Just saw something interesting about part of the deal, the sell-off of 50 billion Euros in public Greek assets.

It seems that this is doubtful. Asset sales were already tried under a previous Greek administration, and it didn't go well. I guess that if they know the seller is in trouble, buyers don't feel they have to bid all that much, assuming they bid at all.

Greek Bailout Rests on Asset Sale Plan That Already Failed - Bloomberg Business

Bob.

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  #44 (permalink)
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bobwest View Post
Just saw something interesting about part of the deal, the sell-off of 50 billion Euros in public Greek assets.

It seems that this is doubtful. Asset sales were already tried under a previous Greek administration, and it didn't go well. I guess that if they know the seller is in trouble, buyers don't feel they have to bid all that much, assuming they bid at all.

Greek Bailout Rests on Asset Sale Plan That Already Failed - Bloomberg Business

Bob.

According to the last Greek data, Greece had an average of 1.2 mio of net taxpayers during the last decade (population: about 11.8 mio).
ie: 1 net taxpayer supports about 9 public beneficiaries - from the newborn to children to the old and ill, but most of all to a ludicrously inflated and corrupt public sector.

Much in Greece is comparable in structure to the former "public republics" of Eastern Europe which are now
members or candidates of the E(M)U. The GDR, the former CSSR (now Czech Rep. + Slovakia), Hungary, Poland,
Slovenia etc. - all of them had to go through large reform and privatization programs to get rid of rotten
economic and social systems where most of the people depend(ed) more or less on transfers / public welfare.

Private initiative will be a case of do or die - or Greece will simply fall apart like GDR or CSSR.

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  #45 (permalink)
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Syriza's internal power struggle at full blast:

https://twitter.com/paulmasonnews/status/621282201490071552

P.S.: Didn't hear about central committee for a long time - in Greece, this endangered species still exists

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  #46 (permalink)
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Interesting contrast to the tearful show when stepping down this morning ...

A government member had withdrawn 200,000 euro the day before the bank holiday | GRReporter.info- News from Greece - Breaking News, Business, Sport, Multimedia and Video.

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  #47 (permalink)
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more than half of the Syriza party seems to reject the agreement from Monday
if the Greek government can not agree, what is next ?

big big major chaos ?

time runs in the meantime...

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rleplae View Post
more than half of the Syriza party seems to reject the agreement from Monday
if the Greek government can not agree, what is next ?

big big major chaos ?

I would say yes, it looks that way.

And the German parliament may have issues with the deal as well, although of an opposite nature.

It is probably too soon to regard anything as settled, quite apart from very real questions about the long term.

Bob.

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bobwest View Post
I would say yes, it looks that way.

And the German parliament may have issues with the deal as well, although of an opposite nature.

It is probably too soon to regard anything as settled, quite apart from very real questions about the long term.

Bob.

a vote later today
curious to see the outcome....

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rleplae View Post
more than half of the Syriza party seems to reject the agreement from Monday
if the Greek government can not agree, what is next ?

Almost all the other parties are going to vote "yes" so they only need a small part of Syriza to vote for it (40 out of 162).


Last edited by Malthus; July 15th, 2015 at 02:39 PM.
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