Tag Archives: default

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 …

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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 …

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“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 …

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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 …

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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 …

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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 …

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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. …

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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 …

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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 …

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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 …

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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 …

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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. …

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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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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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. …

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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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