Greece activates EU/IMF package

[feargach]

Yesterday's news shows that the racist prattle of guaranteed default for Greece and everywhere else where olive-skinned people live was a load of ill thought-out idiocy.

The debt crisis of early 2010 was not the market's careful judgement on Greece: it was an opportunistic wolf-pack attack, just as Sweden's finance minister correctly identified it.

If the market is so all-seeing and all-wise, why did it over-subscribe Greek bonds by three times yesterday when it refused to touch a greek penny mere weeks ago?

No reason. Markets aren't reasonable entities. They are merely the collective outcome of hundreds of overpaid buffoons.

Greece is still Greece. Its fundamental ability to pay back debts has not changed at any point in the last 20 years. At no point was a default ever a possibility. Those who say otherwise are the same liars who caused the 2008 depression.

[grafter1]

Feargach get real. The reason its oversubscribed as its now free money for the bondholders curtosy of german, french, irish, italian taxpayers and so on

Greece will have to restructure its debts - just as we will and the portugese will.

Markets arent reasonable entities you say - of course they're not. They're made up of human beings pricing risk, being greedy, being fearful etc etc.

The term "market" is nothing but a word.

Politicians love to blame the "market" - its always rather easy to do so.

[HarshBuzz]

Greek bonds are now German bonds

who wouldn't want to buy bunds at 4.7%?