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User Info	Your Daily Greek Update. SAVED or not SAVED? in forum [Breaking]
Lemonaid Posts: 9879 Incept: 2008-01-20 Metro Detroit	Guys, they must lie right up to the anouncement. But... that's not to say they won't bail them out again. ---------- "There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." Ludwig von Mises 2012-02-19 10:53:53 From PDA Permalink
Staffpro Posts: 63 Incept: 2009-03-27	yield may be at highs but EUR/USD is celebrating the news starting the week off higher and all the risk currencies are sharply up like CAD and AUD and NZD, makes no sense 2012-02-19 18:10:51 Permalink
Rvacha Posts: 8300 Incept: 2008-10-03 Cleveland	If the market is reacting to news I guess it must be Asmussen @ ECB saying he is OK with the merging of the EFSF (the one without any money) with the ESM (the non-existent one without any money) for maximum firepower (LOL!) Otherwise I guess non-news is good news? ---------- "I suggest you panic." - Hugh Hendry 2012-02-19 18:52:12 Permalink
Rvacha Posts: 8300 Incept: 2008-10-03 Cleveland	Turbo Timmy "Urges IMF to Support Greek Plan" Wow, that's brilliant ---------- "I suggest you panic." - Hugh Hendry 2012-02-19 18:54:18 Permalink
Rvacha Posts: 8300 Incept: 2008-10-03 Cleveland	I guess there WAS other news http://www.bloomberg.com/news/2012-02-19.... Quote: Japanese Finance Minister Jun Azumi said his nation and China will work together to help Europe solve its debt crisis through the International Monetary Fund. Europe needs a bigger so-called firewall of added funding to contain the crisis, even as Greece shows some improvement in solving its financial woes, Azumi told reporters in Beijing yesterday after meeting Chinese Vice Premier Wang Qishan. Azumi, who met Chinese Finance Minister Xiu Xuren during his visit, also said he asked China to make its currency more flexible. �We shared the view that Europe needs to make more efforts to create a bigger firewall,� Azumi said. �We also agreed to act together as the IMF will probably ask the U.S., Japan and China� to help boost its lending capacity. ---------- "I suggest you panic." - Hugh Hendry 2012-02-19 18:55:44 Permalink
Jubber Posts: 14174 Incept: 2007-07-05 UK	Japan owes more money than anyone, this is total Kings new clothes bollox ---------- �The problem with socialism is that, sooner or later, you run out of other people�s money.� Thatcher Last modified: 2012-02-19 18:57:37 by jubber 2012-02-19 18:57:16 Permalink
Rvacha Posts: 8300 Incept: 2008-10-03 Cleveland	Agreed, and what's worse is that Japan's "support" isn't new, in fact it is the only G-20 to officially commit more money to the IMF (if everyone else does of course) ---------- "I suggest you panic." - Hugh Hendry 2012-02-19 19:05:43 Permalink
Jubber Posts: 14174 Incept: 2007-07-05 UK	So the DAX futures are now up 105 points since it was last open, a new ATH for the year, you couldn't make this **** up ---------- �The problem with socialism is that, sooner or later, you run out of other people�s money.� Thatcher 2012-02-19 19:13:24 Permalink
Dimahot Posts: 341 Incept: 2007-11-16	Today's high was 666% http://www.bloomberg.com/quote/GGGB1YR:I.... 2012-02-20 11:29:17 Permalink
Asimov Posts: 104065 Incept: 2007-08-26 East Tennessee Eastern Time Online	It passed into the zone of silliness over about 20%. There are no words that describe the goofy stupidity of rates like that. ---------- It's justifiably immoral to deal morally with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2012-02-20 11:33:52 Permalink
Drench Posts: 28631 Incept: 2009-11-10	Quote: The Netherlands, one of four euro states still ranked as AAA borrowers, is pushing for monitors from the �troika� of European Commission, ECB and IMF to set up a full-time observation post in Athens. �I am myself in favor of a permanent troika in Athens,� Dutch Finance Minister Jan Kees de Jager said before the Brussels meeting. �When you look at the derailments in Greece which have occurred several times now, it is necessary that there is some kind of permanent presence.� http://www.businessweek.com/news/2012-02.... 2012-02-20 14:18:47 Permalink
Rvacha Posts: 8300 Incept: 2008-10-03 Cleveland	Gotta love throwing democracy to the wind. What good will monitoring be if the Greek politicos are voted out? ---------- "I suggest you panic." - Hugh Hendry 2012-02-20 14:47:17 Permalink
Free Posts: 3242 Incept: 2007-07-28 The world	Quote: Translation? "Greece is SAVED"...............again Until? ---------- "Don't believe everything you hear and only half of what you see." 2012-02-20 14:50:01 Permalink
Rvacha Posts: 8300 Incept: 2008-10-03 Cleveland	---------- "I suggest you panic." - Hugh Hendry 2012-02-20 15:13:13 Permalink
Rvacha Posts: 8300 Incept: 2008-10-03 Cleveland	Reuters �UNDER GREEK DEBT SWAP, PRIVATE SECTOR WILL GET 3% COUPON ON BONDS FROM 2012-20, 3.75% COUPON FROM 2021 ONWARDS �PRIVATE SECTOR WILL ALSO GET A GDP-LINKED ADDITIONAL PAYMENT, CAPPED AT 1 PCT OF THE OUTSTANDING AMOUNT OF NEW BONDS �GREEK BANK RECAPITALISATION NEEDS MAY NOW BE AS MUCH AS 50 BLN EUROS-DEBT SUSTAINABILITY ANALYSIS 3% coupon? Crazy. Can't imagine everyone signing up for this ---------- "I suggest you panic." - Hugh Hendry Last modified: 2012-02-20 15:32:40 by rvacha 2012-02-20 15:32:01 Permalink
Genesis Posts: 130798 Incept: 2007-06-26	$50 billion for the banks on top of this? Hoh hoh hoh.... ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-02-20 15:33:41 Permalink
Genesis Posts: 130798 Incept: 2007-06-26	It ain't gonna work.... ---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2012-02-20 15:34:00 Permalink
Rvacha Posts: 8300 Incept: 2008-10-03 Cleveland	http://www.zerohedge.com/news/greek-psi-.... Quote: With the EFSF Bill "sweetener" amounting to about 15 cents (and likely less), the fact that bondholders will receive a 3% cash coupon, a cash on cash return based on Greek bonds of 2015 trading at just 20.7 cents on the euro, indicates that investors are expecting to collect 1 cash coupon payment, and at absolute best 2, before redefault, as buying a 2015 bond now at 20.7 of par, yields a full cash return of 21 (15+3+3), thus the third coupon payment is assured not to come. And since there is a substantial upside risk premium kicker to bond buyers, so in reality the investing market is saying that Greece will last at best about a year following the debt exchange (if it ever even happens) before the country redefaults. ---------- "I suggest you panic." - Hugh Hendry 2012-02-20 15:35:50 Permalink
Jazen Posts: 3417 Incept: 2007-07-17 ****cago	They will sign up for them when Merkozy puts a gun to their head. ---------- I hate our Government, but I still love America. 2012-02-20 15:38:30 Permalink
Rvacha Posts: 8300 Incept: 2008-10-03 Cleveland	I'm not sure how Merkozy can put a gun to the HFs. No wonder the 1yr hit 666% Greece is going down. ---------- "I suggest you panic." - Hugh Hendry 2012-02-20 15:41:16 Permalink
Asimov Posts: 104065 Incept: 2007-08-26 East Tennessee Eastern Time Online	A yearly interest rate over about 20-25% is just stupid to even contemplate. There are no words fit to describe the rates they're SUPPOSEDLY paying now. No words at all. ---------- It's justifiably immoral to deal morally with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2012-02-20 15:43:58 Permalink
Antone Posts: 7689 Incept: 2008-02-03 Seditionia, USSA	Asimov, they aren't paying anything right now (at least nothing above coupon). The 666% yield you see is the secondary market. Greece has been priced out of the market for a while and is therefore unable to issue anymore. The 1 year rate will likely not be available in mid-March since the paper will have "matured". Then it will be watching rates on the 2 year paper until that's all done. ---------- As if anything has changed: Wir sind gefickt. 2012-02-20 16:19:18 From PDA Permalink
Rvacha Posts: 8300 Incept: 2008-10-03 Cleveland	Press conference scheduled for 5PM eastern - get your popcorn! No matter what is said I think Greece is cooked by March but the "plan" (if there is one) will be entertaining ---------- "I suggest you panic." - Hugh Hendry 2012-02-20 16:23:12 Permalink
Mondocondo Posts: 3686 Incept: 2007-12-03 Miami	And that "plan" will send the markets soaring... 2012-02-20 16:32:12 Permalink
Asimov Posts: 104065 Incept: 2007-08-26 East Tennessee Eastern Time Online	Oh, right as futures reopen. How appropriate. ---------- It's justifiably immoral to deal morally with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente. 2012-02-20 16:33:13 Permalink

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