D-day in Greece Live Updates

[statsman]

Today is, apparently, the latest date for the end of the world as Greece teeters on the brink of rejecting the very last (no really) offer of a bailout. Armageddon junkies might well be interested in the Guardian's Eurozone crisis live minute-by-minute match report over here:

Eurozone crisis live: Greek bailout talks due today | Business | guardian.co.uk

I'm going for a nil-all draw, myself.

[Cassandra Syndrome]

Here is a timeline of all the Eurozone / EU emergency meetings to fix Greece and the debt crisis over the past year

TIMELINE-European ministerial meetings in the last year | Reuters

You can match the dates with all the Europhile posts bragging about this time its definitely fixed and the crisis is over.

[statsman]

Here is a timeline of all the Eurozone / EU emergency meetings to fix Greece and the debt crisis over the past year

TIMELINE-European ministerial meetings in the last year | Reuters

You can match the dates with all the Europhile posts bragging about this time its definitely fixed and the crisis is over.

Thanks for the link. I'd be in the 'neither fixed nor f#cked' camp, myself.

[Astral Peaks]

Well, CS, hard to argue with comprehensive evidence of serial can kicking, I agree.

But!

I wonder has the penny dropped with the Greek public? Have they realised that they cannot continue funding largesse with unending credit?
Only 20,000 turned out yesterday in Athens to protest the current round of proposed adjustments to spending.

The population of Greece in 2010, according to the World Bank, was 11,319,048.

[statsman]

Well, CS, hard to argue with comprehensive evidence of serial can kicking, I agree.

But!

I wonder has the penny dropped with the Greek public? Have they realised that they cannot continue funding largesse with unending credit?
Only 20,000 turned out yesterday in Athens to protest the current round of proposed adjustments to spending.

The population of Greece in 2010, according to the World Bank, was 11,319,048.

The polling figures in the Graun update make for interesting reading; mixed messages, to say the least.

[eoghanacht]

So could this be us in twelve months time? Yes or No?

[Astral Peaks]

The polling figures in the Graun update make for interesting reading; mixed messages, to say the least.

Mmmm yes, but fairly fickle, aren't they?

I thought this was more interesting?

An interesting development overnight - the European Central Bank has agreed to take part in the Greek debt restructuring.Up to a point, anyway. The ECB is still refusing to join private creditors in a 70% haircut on the estimated €40bn of Greek debt on its books. However, it will exchange the Greek government bonds it purchased in the secondary market last year at a price below their face value.
That will reduce Greece's total liabilites. It also seems only fair, as the ECB would have acquired these bonds for something less than their full face value (as nervous creditors ditched their holdings). Analysts reckon the ECB probably got a 25% discount.

From: http://www.guardian.co.uk/business/2...ne-crisis-live

[statsman]

Mmmm yes, but fairly fickle, aren't they?

I thought this was more interesting?



From: Eurozone crisis live: Greek bailout talks due today | Business | guardian.co.uk

Interesting indeed.

[Astral Peaks]

So could this be us in twelve months time? Yes or No?

No.

Frankly, we have a far better case for haircuts on the bank debt obligations (esp. the Anglo notes) than Greece has on their GGD.

What is scary about Greece is the sheer size of the bailout.

[Astral Peaks]

Interesting indeed.

So what will the ECB look for on exchange? If they got 25% discount, will they pass them back at 50% discount on original value.
I bet there is some amount of con calls on that one?