Guardian Live - Greece: Reports that Germany, the Netherlands and Finland are behind the move to delay the bailout to Greece till after the Greek Elections in April. This will go down well in Greece, this move could imperil the whole deal, as the article notes Greek bond holders might say NO to a write off if there cuts are being used instead of EU money. Its all gets very in the weeds folks, but Greece has to pay its bond debts in March, someone has to pay it or Greece goes down the toilet, so we could be talking here of a Greek bailout of 160 billion Euros at the end of the day, the last 15 billion just to give Greece and the EU breathing room. And even then Greece will come back for more, you can bet on that folks.
Wednesday, February 15, 2012
Greece vs. Germany
Guardian Live - Greece: Reports that Germany, the Netherlands and Finland are behind the move to delay the bailout to Greece till after the Greek Elections in April. This will go down well in Greece, this move could imperil the whole deal, as the article notes Greek bond holders might say NO to a write off if there cuts are being used instead of EU money. Its all gets very in the weeds folks, but Greece has to pay its bond debts in March, someone has to pay it or Greece goes down the toilet, so we could be talking here of a Greek bailout of 160 billion Euros at the end of the day, the last 15 billion just to give Greece and the EU breathing room. And even then Greece will come back for more, you can bet on that folks.
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