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Tag Archives: default

Euro Zone Summit: Greece’s Non-Negotiable Requests

July 19, 2011 Economy Comments Off on Euro Zone Summit: Greece’s Non-Negotiable Requests

The Greek debt clock is ticking and the Greek officials feverly check the options ahead the Euro Zone Summit on upcoming Thursday, where the Euro Leaders will discuss the second bailout for Greece, estimated to be 100 billion euro. While EUro officials concentrate try to find out ways for the participation of …

Too Hot in Greece – Time for a 30% Haircut?

July 18, 2011 Economy 2

This is the hottest summer ever in Greece. Because the high temperatures go hand in hand with the heated debate about the Greek debt. Hundreds of opinions and proposals worsen the uncertainty. The big players,, ECB-Chief Jean-Claude Trichet and German Chancellor Angela Merkel keep playing with our nerves as they …

Germany’s New Currency: the “Merkels”

July 15, 2011 Economy 1

First I though it was a joke, but now slowly I believe it might be true: Germany is about to issue its own currency, the “Merkels”! However there is disagreement on the design of the new German “Merkel” coins and banknotes, as the Chancellor cannot decide on the banknotes colours …

Greek PM to FT.de: Default or Not Default?

July 14, 2011 Economy 1

I don’t understand the Greek government. Most likely the Greek government doesn’t understand itself. More than often one has to read contradictory statements and diametrically opposed views that cancel itself by several government ministers and officials that leave a bitter and confused senses on one’s lips. Worst of all it is …

Trying to Explain Greece’s ‘Selective Default’

July 13, 2011 Economy Comments Off on Trying to Explain Greece’s ‘Selective Default’

Greek Finance Minister Evangelos Venizelos confound us yesterday and today the term ‘selective default’ is on everyone’s lips. Journalists and economists of the country have poured a lot of ink and have consumed enough gray matter to explain the term and its impact on our daily lives. However since the …

Greek Fin Min: “Selective Default” frightens for no reason

July 12, 2011 Economy 4

I don’t like at all what I read and hear, I don’t like at all what Greece Finance Minister Evangelos Venizelos said on Tuesday afternoon. I don’t like it because when a Finance Minister gets the absolute No-No word in his mouth is extremely worrying. He sounds as if he …

Greek PM To Tour EU, Looking For Allies

July 12, 2011 Economy, Politics 4

Greece Prime Minister George Papandreou is due to tour European capital -cities- and have contacts with Leaders of European countries in order to push towards a fast track lasting solution for the Greek debt. The initiative of the Greek PM is considered necessary after delays in the Eurogroup to finalize …

The Never Ending Plight of Greek Debt Drives CDS & Spreads High

July 7, 2011 Economy 2

ECB President Jean Claude Trichet made on Thursday a clear point on Greek Debt and the additional bailout. “ECB’s position does not change. Participation of private sector is voluntary. We don’t want a ‘selective default”. Trichet was speaking during a press conference and gave this answer when he was asked …

Roll Over Beethoven… ops! sorry! I meant “Greece”

July 5, 2011 Economy 1

While things seemed settled with the ‘rollover’ of Greek maturing bonds, here we go again, starting the discussion from point zero. The French proposal was slammed by rating agency Standard & Poor’s as “selective default”, while Moody’s remained tight-lipped so far. The vehement denial of Greek rollover by S&P gave a strong …

Greece’s Liquidation while “Assets Strippers” dancing around

July 4, 2011 Economy 3

The boys have started long ago to lick their lips unbrakedly. Rubbing their hands with a relentless shaking. Their shoes hit the floor with nervous impatience. Saliva running at the same pace the nude dancers of Folies Bergere move in front of them before the discovery of the miracle Viagra. Their eyes are …

IS this the EU we wanted? I don’t think so…

July 4, 2011 Economy, Editor, Politics 4

The European road has its reached dead-end. Call it “Greek crisis”, call it “Euro crisis” the European leaders prove day in day out that they are not able to deal with this challenge. EU leaders live in their own happy-go-merry world with some aging EU-gentlemen ridiculte themselves by claiming they are sexy. If …

Eurogroup Meeting on Greece per Teleconference! Next Time on Twitter?

July 1, 2011 Economy 1

The extraordinary meeting of the Eurogroup, scheduled for July 3rd will not take place with the physical presence of the Eurozone Finance Ministers but it will be replaced by a teleconference. According to Greek economic news portal Capital.gr, Guy Schuller, spokesman of Eurozone Chief Jean-Claude Juncker, said that “The meeting will …

Athens, June 29/11: Glorification of the Greek Democracy

June 29, 2011 Editor 1

I am so damned proud today! Greece showed that it is a truly democratic country and the people’s will prevails in rate 155:300. Inside the parliament the lawmakers dressed in light summer suits voted pro and contra the Mid-Term Austerity Programme. A 28 billion euro package containing wages, social allowances …

(Upd) Greece: “Horrified” Lawmakers to Vote for Austerity Package, after all?

June 28, 2011 Economy, Politics 3

Ok, boys, Greeks are horrified! The deputies, not the citizens…. They are horrified that if the Mid-Term Austerity Programme is not adopted by the Parliament we all land in the bankruptcy package. A non-stop government propaganda by high ranking officials from morning til the evening, the clumsy dilemma ‘Mid-Term or …

Greece: Exit Euro+Return to Drachma+Devalue Drachma=Impossible!

June 27, 2011 Economy 7

I was watching Yiannis Papanikolaou, economist and advisor of former Greek Prime Minister Andreas Papandreou on private television network ALTER. He was very serious and very concerned about the future of the country, especially about the crisis-management skills of the government but also any Greek political party. Papanikolaou said in …

Eurogroup-Juncker’s Raw Blackmail to Greeks “If not…” (video)

June 21, 2011 Economy 1

Euro-Indians Chief*, Jean Claude Juncker spitted out a raw blackmail towards the Greek politicians and intervened once again in the internal democratic procedures of a sovereign country. he even implied a “contagion” – as interpreted by the international media -, in case Greeks won’t adopt the Mid-Term Austerity Programme. Video J-C Juncker “If not.., …

Euro-Crisis: It’s all Greek to you…

June 20, 2011 Economy, Editor 3

…but it’s Chinese to me! Then for us, Greeks, the idiom “It’s all Greek to me” makes really no sense. However, whether in Chinese or in Greek, the Greek crisis makes no more sense to anybody. The Eurogroup in Luxembroug postponed its decision to release the 5th tranche of 12 billion …

Greek PM: We had 3 Options-Default, Eurozone Exit, Bailout

June 19, 2011 Politics Comments Off on Greek PM: We had 3 Options-Default, Eurozone Exit, Bailout

Greece prime Minister George Papandreou revealed for the first time he was considering the options of “default” and “exit the eurozone” but that he finally picked up the “bailout”. Speaking at the Greek Parliament during the debate for the vote of confidence, Papandreou announced a referendum for ‘important changes’ among …

Does the IMF blackmail again on Greece’s 5th tranche?

June 13, 2011 Economy Comments Off on Does the IMF blackmail again on Greece’s 5th tranche?

They play with our nerves and empty our pockets. The sooner they go, the better for Greeks. Then it seems Greeks and Greece are two different entities. Greeks don’t want to be saved by the IMF. Because they believe that they maybe saved, give to IMF and European lenders their …

Guest Post: Greece – Anyone Here Feeling Rescued?

June 10, 2011 Economy 3

I love to receive interesting posts by KTG-readers. Different ideas and opinions enrich a blog anyway. An article on Greek economy and rescue efforts, written in a way that everybody can understand, is a must now a days for those who want to know the What and Why and Why Not as …

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