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Tag Archives: debt restructure

Merkel’s spokesman denies, she had agreed to Greek debt restructuring

German Chancellor Angela Merkel (CDU) feels, she was misunderstood in the issue of debt restructuring for Greece. There was “no change of mind,” of the chancellor, government spokesman Steffen Seibert said Monday. Merkel does not endorse any “debt write-off”.  She did not explain anything different than during the Eurogroup meeting.  “To …

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DIE WELT:Greek Minister considers Debt Restructure Inevitable

BERLIN (MNI) – Greece ultimately will not be able to avoid restructuring its sovereign debt, an unnamed Greek government minister told the German daily Die Welt in an interview to be published Tuesday. “The question is not anymore if we have to restructure but only when,” the minister told the …

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Greece: Hard Week Ahead

Greece has a hard week ahead. A new medium-term austerity plan will be announced on Friday, April 15. At the same time scenarios about reshuffling the cabinet are circulating. Also some scenarios about possible early elections are around. Not to mention the scenarios and pressure for a debt restructure. The four-day strike of …

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The Economist: GR, IE & PT should restructure debt – They’re bust!

That’s a nice article to boost our spirit. And thus on April Fool’s Day, on the first day of the month. Stoned-aged old grannies used to say “How the month begins, so the month ends”. They meant that if the first day of the month is good/bad, the whole month would be good/bad. Old grannies …

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When The German Beatles rule the EFSF

Remember the lyrics from the Beatles’ song Yellow Submarine? There is a line “And the band begins to play” followed by trumpets playing “PrAMPrAMPrAM-PrAM!”  That was in the late 60’s but associative thinking to today’s world make songs like that a ‘classic’. Because they are diachronic.  The Beatles have fallen …

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Greek PM: No Debt Restructure; Poor Governance is the Root of the Problem

Greek Prime Minister George Papandreou sent the message that the country is not moving towards a debt restructure. Speaking at a panel during the World Economic Forum in Davos, Switzerland, Papadnreou said that the country is not going to bankrupt and that the Greek government have taken all the measures to …

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Non-Stop Scenarios on Greek Debt Restructure in Davos

The issue is getting out of control as  ill-favored  Prophets keep circulating  debt restructuring omens and spells amid denials not only by the EU and the IMf but also by the Greek governemnt . I just wonder, what these self-proclaimed oracles have been chewing … “laurel leaves” like in Ancient times …

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Austrian insurer gives Greek Bonds an ugly “Hair Cut”

I have been permanently postponing visiting the hairdresser and have a hair cut. I have been think to take advantage of the economic crisis in Greece and wait until the hairdresser will give me  better price and conditions, like ‘pay haircut, get free shampooning “. Postponement over postponement have resulted to an …

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Sovereign Debt : the Pain in Greece’s neck

That’s a huge pain in Greece’s a**… sorry… ‘neck’, I wanted to say: the fiscal situation and the huge debt. That Greece is not going to be able to cope with its debt, currently at over 340 billion euros, is something that even stray cats in Greece know; let alone the stray dogs…  …

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Greek FinMin doesn’t expect Tax and VAT increases….

What do you think when a Finance Minister of a debt-driven country says, he didn’t expect further increases on taxes or VAT? Most likely you think that hikes will happen but not likely in the very-very near future, i.e. this month… 🙂 The 2010 fiscal austerity programme will continue for the …

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Bank of Greece: Even mere Talk of debt restructuring hurts Greece

Greece’s Central Bank governor Yiorgos Provopoulos could not be more clear. “I believe that even mere talk of debt restructuring hurts the country,” Provopoulos told Greek newspaper Sunday’s Ethnos during an interview. Furthermore he stressed that apart from the political and economic impact, “a debt restructure would have immediate and significant …

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EU’s Rehn rules out Greek debt restructuring

EU’s top Monetary Commissioner Olli Rehn ruled out debt restructuring for Greece saying it would have serious negative consequences and revealed that the EU plans to increase the EFSF bonds bailout fund. European Union Economic and Monetary Affairs Commissioner Olli Rehn said: “Restructuring of Greek debt, or of debt of any other …

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Pimco’s Big Bad Wolf swallows the PIIGS – Bosomworth’s latest interview

Pimco’s Big Bad Grey Wolf  after having swallowed Little Red Riding Hood, her Grandma and the whole forest is now readying to swallow the euro-zone PIIGS.  As the Hunter has been swallowed as well, things are looking pretty grim. Then when world’s biggest investment company stops buying a country’s bonds that’s a …

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