Greece and its DEBT

The New York Times: Reports that Greece is close to a deal with the bond debt holders. Lets see folks if this happens, the UK Guardian has a similar story a few days ago, those talks stalled, lets see the details, the article notes that the bond holders will take a 70% loss, lets see if the hedge funds invoke their insurance clause, this would mean that Greece has defaulted and cause problems for Greece and the Troika. This story has some road to go folks.

IMF and Greece

Telegraph: Reports that the IMF has stated that Greece will have to transfer Budget control over to the EU if it wants support from the EU/IMF/ECB. Folks sometime soon Athens will have to make a choice, is it a Sovereign State or is it a colony of Germany and the EU, for the good of Greece it has to default, then return to its native currency, the Greek Government has passed laws for Austerity, but the people and Greek system is not moving, assets in the billions have not been sold, the Greeks are still fiddling their taxes or sending money out of Country, one would not be surprise wake one morning with the news that the Greek Banking system has gone down the toilet. Greece either cuts bait as they or it should ask to be taken over by Germany as a Colony.

Greece and its Budget

BBC News: Reports that Greece has rejected a German idea for the EU to have direct control of the Budget of Greece, with a EU budget commissioner to control Greek taxes and spending. This could be the final straw for the Greeks folks, older Greeks recall the German occupation of Greece during the WW2, the idea that Germany wants in essence to make Greece an economic Colony of Germany will go down like a lead balloon. There are reports that the Greek Government and its bond holders are close to a deal, lets see the small print folks, this has been running for weeks, reports of success then failure. The Germans have made it clear that at the end of the day they can see a Greek economic meltdown, this might be a Germany way to cut its spending to Greece, have them walk away from the table.

Afghanistan Front News

MOD: Has announced the name of the UK Soldier that was killed on Friday in Afghanistan, the Soldier was “ Lance Corporal Gajbahadur Gurung of 1st Battalion The Yorkshire Regiment ”. Our thoughts are with the family of Lance Corporal Gurung.