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Tag Archives: bailout

UBS Deeply Worried Greece’s Lenders May Not Give Next Payment

 It’s not only Greeks worrying about the outcome of the May-6 elections. Lenders, investors and banks cannot hide their fears either. However the concerns of Greeks and markets stand diametrically opposite to each other. While more than 60% of Greeks worry they may get another PASOK-Nea Dimocratia government, the money sector …

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Germany, France & Holland Sold Greece €1 billion of Arms Amid Debt-Crisis

There is no money for wages, pensions, medicines and books, but there is money for arms. Especially when they are sold by EU countries, our eager-to-bailout-Greece friends. Friends willing to give loans but only under one condition: Trade “arms” for “bailout”.  Citing official EU figures, the website euobserver.com revealed that Eu countries like Germany, …

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Pros And Cons: Bailout & Austerity or Default & Euro Exit?

 Greece’s Prime Minister Lucas Papademos made a final warning on Saturday night, just hours before the crucial voting on the new austerity bill at the Parliament. In a TV address to the nation, Papademos said Greece was just a breath away from Zero”, that the second bailout and the austerity measures secure that the …

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Darling: “Troika’s Rescue Plan for Greece Without Logic”

 Former UK Finance Minister Alistair Darling criticized Greece’s lenders’ plan for the debt-ridden country saying that at the end Greece will have a bigger debt that before the rescue plan. “It has no logic. such a plan will leave Greece with a higher debt percentage than the country had at …

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Where is the Greek PSI?

Some American bloggers ‘celebrated’ on Tuesday having learned that the talks between the Greek government and the private creditors on the exchange of Greek bonds and their ‘haircut’ (PSI) were concluded without results. The interest rate of the coupon, the issue of guarantees, the reluctance of some funds to participate …

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Riot Police Against Disabled Greeks on Wheel Chairs Protesting Welfare Cuts by EU/IMF

There must be something rotten in the heads of some people governing this country. On Tuesday morning in Athens, riot police was deployed to avert (riots by?)  hundreds of disabled Greeks on wheel chairs to come close to Prime Minister’s Mansion, the Greek Parliament and the Finance Ministry. The disabled on wheel chairs had gathered …

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Troika-EU Repr. Kröger: Portugese Are Better than Greeks!?

Apparently, debt-ridden and well-behaved Portuguese are better than broke and defiant Greeks. In fact, “Portuguese are good and Greeks  are …bad (?)” if we want to believe German Juergen Kroeger, EU representative of the Troika group supervising the bailout package in  Portugal. This sentence from Kroeger angered the journalists in Portugal …

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Zerohedge: Where does the Greek Bailout Money Go?

Where does the Greek bailout money go? That’s a good question! Here is a first approach posted in economics  portal zerohedge. “So yes, Greece is getting a bailout, but you can see why Merkozy got so scared at the idea of a referendum.  The bulk of the money that Greece …

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IMF & Co Give “Green Light” for 8b EUR to Greece

Greece’s lenders representatives in Athens, also known as the “Troika”, released their report on fiscal progress and gave the green light for the 8 billion EUR. The sixth bailout tranche would be released to Greece most likely in early November, after the Eurogroup & IMF approval of the progress report. Finance Minister …

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German FinMIn: Greece’s 6th Tranche Decision on Oct 13th

German Finance Minister Wolfgang Schaeuble decided on his own when the Eurogroup meeting will take place and take decisions about Greece’s sixth tranche! According to German DIE ZEIT online, Schaeuble said: “Greece’s 6th tranche will be decided during Eurogroup’s Oct 13 extra meeting. It will be paid only if conditions are …

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50% Greek “Haircut” or German Rescue Plan with “Treuhand”?

While the scenarios over the weekend claim a Greek haircut of 50% and the most odious preconditions with more austerity measures and the Troika be seated in Athens for a decade,  Greek Finance Minister EvangelosVenizelos meets with German Finance Minister Wolfgang Schaeuble in Washington. Tomorrow he will hold meetings with IMF-Chief Christine …

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Greece at Knife’s Edge – Claims, Rumors & Scenarios

The developments in Greece are dramatic and the tension has been extremely high in the last hours, after Prime Minister George Papandreou decided to cancelhis visit to USA and this in the middle of the road. He was flying Athens-Washington via London and he was in the British capital when he spoke …

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Greece Able to Pay only Salaries & Pensions

Does the Greek state owe you money? You’d better forget about the payment – I hope for the time being… Then Greece apparently faces shortage of funds, the possibility of the 6th bailout tranche ( eight billion euro) is in the air, and national media reported recently that Greece has money until …

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Banking Source Reveals 8 Points of Eurozone ‘Greek Deal’

Greek private television ALTER named 8 points from the plan currently under discussion at the Eurozone Summit for the solution of the Greek debt crisis. ALTER cited a Greek high rank official from the banking sector, who spoke under conditions of anonymity. The rescue plan for Greece includes among others: 1) …

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Euro Zone Summit: Greece in Agony

Greek Prime Minister George Papandreou flies for Brussels today to have a series of meetings, which are covered in full secrecy for fear of any leakage of solution scenarios. “We go to the Summit with specific positions, but without specific goals”, a senior government official said, explaining that all scenarios …

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Merkel puts Papandreou Under Pressure

German Chancellor Angela Merkel has undeniably a new hobby: playing with the nerves of the EU and particularly with the nerves of the Greek prime minister. Of course, in Greece we have a particular expression, it starts with ‘balls’ and ends with ‘breaker’ but it would be too rude to write it down here …

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