Unbelievable, wot a joke. They could have come up with this new deal to pay June 30th months ago? Wot are they smoking over there in Europe???
No change in production. About a 50c pop on the news. Just waiting to see if there's any retracement.
that's how they do things, they call it standard, listen and do what we say, its the condition; that has been the fundamental reason for the AIIB.
Yeah, but is it an acronym pronounced "Abe" or an initialisation quotes as the "A, double I, B" ? We need to know!
End of June they might announce The International Monetary Fund (IMF) has confirmed that Greece will be bundling all debt repayments due in 2015 at the end of the year, averting the possibility of a Greek default today. To make this looks normal both IMF and Geek will deny from the second half of June that Greek will ask for debt rearmament bundling for the end of 2015. As Maxwell Smart would say, The old bundle the debt trick. Get Smart everyone this WAS DEFAULT
They can't come to a good solution because one doesn't exist; Greece owes more money than their economy can afford. They are being lent money, some could argue forcefully to pay debt on previous borrowings they also couldn't afford. The Greek people understand their country is being increasingly governed by banks and no longer a democratically elected government. Of course, much of this has been brought on by years of living beyond their means, a lesson they understand first hand and live with daily. Either way it has come at a significant cost and will continue to do so for many years. In the end I think the Greeks have realised a Phoenix can only rise from the ashes. If I was going to default, I would hold out as long as I could on paying down instalments also.
Greece's interior minister, Nikos Voutsis, said a couple weeks ago Greece had "no money" to make a series of repayments to the IMF. What has changed? Why push it back a month??
well who did the borrowing in the very first place?? they have a different label hang on them instead of default, they call it whatever they like so long it does not sound like default, its ok. they are ok. they just change the due date :lol: over extended promotion = promotion is still on.
I heard an interview a few months ago with some billionaire business man who mentioned that Greece uses a slightly different method of accounting than the standard IMF accounting when it comes to their budget, and he was confident that they will make all their future payments but will use the system to stretch it out as long as possible and gain extra concessions for Greece. If any one else has heard the interview and can remember who it was, I'd love to re-listen to it. It might have been Nick Hanauer on BBC HardTalk but I cant find anywhere to play it again to make sure.
