credit event Archives - Keep Talking Greece

Review Delays may trigger Credit Event in summer. Horror scenario: Greece signs another Bailout with IMF

April 4, 2016 Economy 2

Greece is right to urge for a conclusion of the Program Review as soon as possible, insisting that talks and agreement should be over by the middle of April. Athens is right to insist and to slam the International Monetary Fund over the delays that may end up in a …

Greece vs Creditors: Tsipras will never be able to satisfy the big neurotic mama

April 2, 2015 Economy 6

Greece “defaults” each and every month since the new coalition government came into power, should we believe the Cassandras of various nationalities and interests. The first default scenario “saw” a default by end February, the second by end of March. Bogeyman’s words “Grexit” and “Grexident” started to whirl around. Again. …

Schaeuble, Dijsselbloem increase austerity pressure, Varoufakis claims ‘time’

March 2, 2015 Economy 9

With Greece suffering from economic suffocation and the risk to run out of cash in March, international creditors hint that the last bailout trance of €7.2billion would be paid as early as possible, if Athens starts adopting necessary reforms – ‘reforms’ in the sense of ‘austerity adjustment’, right? Greece needs …

Minister: Greek Gov’t to ask 2-month extension for IMF’s repayment

February 26, 2015 Economy Comments Off on Minister: Greek Gov’t to ask 2-month extension for IMF’s repayment

“Greek government will ask for a two-month extension to repay the International Monetary Fund,” if not enough revenues collected, Alekos Flabouraris, State Minister responsible for government coordination said on Thursday. Speaking to private Mega TV, Flambouraris said that “there is a liquidity problem, but we believe that with the measures …

ISDA: Greek PSI-CACs “Credit Event”; CDS Payments Triggered

March 9, 2012 Economy 1

Yeap. The activation of the Collective Action Clauses” (CACs) consist a “credit event”, said the International Swaps and Derivatives Association (ISDA) on Friday. Now the CDS will have to be paid out and all those who bet on Greece’s bankruptcy will make some nice profit. The CDS or Credit Default Swap is a …

Greek PSI: The CACs, the CDS and the “Credit Event”

March 9, 2012 Economy 3

The activation of the Collective Action Clauses (CACs) seems inevitable. State broadcaster NET TV (12 pm) cited a Greek government official saying that the CACs’ activation is sure at 99.5%, because without the CACs, Greece would need 20 billion euro more [on debt restructuring], something which is impossible. Greece will force unwilling …

All Eyes On Greek PSI

March 8, 2012 Economy 3

Expectations on a successful Greek bond swap (PSI) are high, just a few hours before the official offer of the Greek state expires on Thursday night (2000GMT/ 8 pm local time). The Greek government seems optimistic. “It is going well, we are optimistic,” a Greek official told Reuters on conditions …

Greek CDS: ISDA “Greece Has Not Defaulted On Its Debt”

March 1, 2012 Economy Comments Off on Greek CDS: ISDA “Greece Has Not Defaulted On Its Debt”

THE CDS will not be activated, the PSI does not mean a ‘credit event’. The latest deal to cut Greece’s debt did not constitute a default, an official trading body has ruled. The International Swaps and Derivatives Association said that new Greek legislation forcing all bondholders to accept losses and …

Racing Against a Greek Default & PIIGS Contagion

October 24, 2011 Economy Comments Off on Racing Against a Greek Default & PIIGS Contagion

Greek Prime Minister George Papandreou left Brussels and returned to Athens for 24 hours to calm down ‘rebelling’ PASOK deputies. No political development is possible before the final decisions on the Greek debt before Wednesday. Within ruling party PASOK voices are loud that the government cannot take such historical decisions …

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