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Tag Archives: default

Fitch: Greece’s 4 systemic banks would default if Capital Controls are lifted

June 22, 2016 Economy 6

Man! One day after the President of Greek Banks Association, Louka Katseli, said that Capital controls would be lifted by end of the year, there comes Fitch-ratings agency and warns that Greek systemic banks would default if the deposit restrictions are lifted. Fitch Ratings affirmed the Long-Term Issuer Default Ratings …

The giant WOW-Hamburger effect: Donald Trump wants to apply “Greece’s Default” as model to save USA economy?

May 9, 2016 Economy 4

I wouldn’t know that Greece debt and default can be an example that other countries should follow. Apparently it is. In the mind of US Presidential candidate Donald Trump. He came out with his “Big Plan for the Economy: Let’s make like Greece and default on the national debt.” or …

Varoufakis says he wanted to use Greece’s “Default as a strategy weapon” to force agreement with creditors

November 23, 2015 Economy 1

“We should have defaulted. They would have come around and we would have a compromise agreement, but I wasn’t allowed to use that weapon,” former Greek Finance Minister Yanis Varoufakis said in an interview to The Guardian. Speaking about the times of negotiations between Greece and the lenders, the former …

ECB’s Novotny: “bridge program for Greece while negotiations thinkable”

July 7, 2015 Economy Comments Off on ECB’s Novotny: “bridge program for Greece while negotiations thinkable”

Bridge funding for Greece while a new bailout programme is being negotiated could be a possibility, European Central Bank Governing Council member Ewald Nowotny said on Monday. “Whether it’s possible is something that has to be discussed,” Nowotny told Austrian state television ORF. Nowotny added that the ECB would not …

EFSF decides to “reserve its rights to act upon Greece’s default”

July 3, 2015 Economy 7

The eurozone’s rescue fund, Greece’s largest creditor, said on Friday it reserved the right to call in 130.9 billion euros in debt ahead of schedule after Athens defaulted this week on an International Monetary Fund loan. The board of the European Financial Stability Facility decided to reserve its rights to …

IMF on missing payment: “Greece is now in arrears”

July 1, 2015 Economy 10

Greece has defaulted on its IMF loan. It is the first Eurozone and the first developed country ever to do so. Below is the IMF’s full statement on missing payment. Greece is “now in arrears”, not default. At least, not yet… “Greece can only receive IMF financing once the arrears …

Creditors give Greece a “deadline” to break the impasse

June 25, 2015 Economy 2

As early as 6 o’clock in the morning the’ technical teams’ sat down and picked up the negotiations thread, the institutions and Greece left down in the early morning hours of Thursday. The midnight meeting between Greek Prime Minister Alexis Tsipras and the creditors ended at 12:30 without positive result. …

Lagarde warns Greece will default to IMF, if no payment on June 30th

June 18, 2015 Economy 4

Greece will default the next day, if it fails to make the bundles payment to the IMF on June 3oth, Managing Director of the International Monetary Fund said on Thursday, dismissing rumors that the debt-ridden country would have a month of grace time. Greece will be in default with the …

Greek BoG dramatic annual report warns of ‘uncontrollable crisis’, GREXIT & GREUXIT if no deal

June 17, 2015 Economy, Politics 17

The governor of Central Bank of Greece, Yiannis Stournaras wrote his annual report and forwarded it to the Greek Parliament and Tsipras’ cabinet. In his 141-page report Monetary Policy 2014-2015, the former Finance Minister of Samaras-Venizelos government warned that Greece faces an “uncontrollable crisis”, if a deal cannot be reached …

Standoff escalates, as Greece’s EU-partners pull their Most Lethal Weapons

June 16, 2015 Economy 23

The bailout standoff between Greece and its creditors has reached an unprecedented escalation with the default clock ticking. Two weeks before the key €1.5-billion payment to the IMF on June 30th that threatens Athens with a “credit event”, the two sides do not seem able to reach an agreement that …

German Vice Chancellor Gabriel warns of “gigantic consequences” if Greece goes bankrupt

June 2, 2015 Economy 14

Finally. German Social-democrats woke up from the long sleep caused by Merkel’s spell. Germany’s Vice Chancellor, Economic Minister and chief of SPD, Sigmar Gabriel, warned of “gigantic consequences” for Europe in case of a Greek bankruptcy. Speaking to German media, Sigmar Gabriel said exactly: “It is good that Germany and …

Goldman Sachs’ “sees” 4 scenarios on Greece, excludes Grasshoppers, Alien invasion & other Plagues

June 1, 2015 Economy 7

Famous infamous Goldman Sachs analyzed the options for Greece should the negotiations with creditors end in never to loose impasse. GS’ chief European economist Huw Pill sat down in his dark room, contemplated for a long time over the Greek Plight and Plague and piled together a thoughtfully researched report. …

Lose-Lose situation if no deal between Greece and its creditors

May 26, 2015 Economy 3

Suppose there is no deal reached by June 5th between Greece and its creditors, suppose that no bailout money arrives in Athens, suppose the Greek government and the Greek Finance Minister do not transfer the money to the International Monetary Fund on June 5th. What will happen? The IMF will …

Greek Interior Minister: No money to pay the IMF, if no deal with creditors

May 25, 2015 Economy 1

Nothing changed over the weekend. Greece found no money to pay the international Monetary Fund on June 5th, creditors found no way to agree on bailout talks. The result is logically: no deal, no money. precisely, No money to the IMF. Interior Minister Nikos Voutsis said it clearly: Greece cannot …

Leaked IMF memo sees threat of Greek default in June, when households defaulted long ago

May 17, 2015 Economy 5

Greece averted default in May, now the treat is imminent again. Next Dommsday Doomsday is predicted to occur beginning of June when Greece will have to pay back €1.5 billion to the IMF. However the country of “eternal blue and picturesque islands ” has run out of cash as it …

Greek Economy Minister: “Default to IMF is out of question” but “we cannot pay €7.6bn to ECB

April 22, 2015 Economy 1

Greece’s Economy Minister Giorgos Stathakis has warned that Greece did not have the resources to repay two loans to the European Central Bank loans, amounting to some €7.6 billion, which fall due next July and August. However he underlined that a Greek default on loans to International Monetary Fund was …

Business and claims as usual: “Greece is defaulting” each and every day

April 14, 2015 Economy Comments Off on Business and claims as usual: “Greece is defaulting” each and every day

Over the Easter days, Greece was exposed to a barrage of negative media reports claiming that a “Greek default” was “imminent” if the bailout talks between the Greek government and the creditors fail. The claims continued also today with the aim to increase pressure ahead of the Euro Group meeting …

Greece paid €450million to IMF – “Credit event” averted

April 9, 2015 Economy 12

Can you imagine? It is Holy Thursday, you wake up and instead start dying Easter eggs and kneading dough for Easter sweet bread, you run to the bank and write a 450-million-euro check in order to avoid default. “Greece’s payment to International Monetary Fund is scheduled for today,” media reported …

International media in anti-SYRIZA frenzy but why sacrifice Greece?

April 3, 2015 Economy 5

Ayayayay! Six days before the crucial double Euro Working Group on Greece upcoming Wednesday and Thursday, and the international media pour their last drops of poison, before they enter the Easter vacations. In an unprecedented anti-Greek-government frenzy international mainstream media race for the Award of the Doomsday Scenario for Greece. …

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. …

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