THIS BONDSWAP WAS THE FRAUD OF THE CENTURY BECAUSE NOT ONE GREEK POLITICIAN WAS HELD ACCOUNTABLE FOR THIER CRIMES IN STEALING ALL GREECE'S MONEY! ---- By the way, Christine Legarde is still under investigation in France for money laundering millions of Euros from ganster Bernie Taipie for Sarkozy's first election... What a farce the EU & IMF are !!!When you owe someone money, and have a contract saying you will repay them, then you unilaterally change the terms of the contract and tell the counterparty that they can whistle for the money... that's a default. ....Anything else is pure sophistry !
6 comments:
Politicians dream of staying in power for their lifetime. They jump on any old bandwagon to try and gain popularity and votes. They will normally change their stance on a subject at the drop of a hat.
I have no statistics to prove my point but going by the talk in my local pub people are turning against the EU and the Euro. It maybe out of fear rather than knowledge or just plain self interest, but people who 12 months ago would have said if asked who were Merkel & Sarkozy would probably replied " don`t they play for some football team"
So if public opinion is changing and becoming anti EU, why then is no main party politician grasping this opportunity, Cameron got a small taste of the popularity standing up to the EU can bring when he excerised the veto last year. Normally any self respecting politician would jump at this opportunity, so why arn`t they.
Is it that they are just so scared of the EU gang, maybe once a member you can`t leave or you will be killed, are they totally stupid and blind to what is going on, or do they not give a sh_t about votes anymore becasue dictatorship here we come.
We need a leader now, surely we must have a least one politician with some balls to stand up and say enough is enough and get us out of the Evil EU club and give us our fredom back
I am interested in the fate of those funky new Greek bonds, issued in replacement for the old bonds that Greece wouldn't honour.
Who will be willing to buy them?
They carry an interest rate of 4%.
What market price would cover the uncertainties of the Greek economy?
What risk premium would they have to carry, out there in the real world, away from the Madhatter world of the European Politburo?
Whatever happened to Albania? You never hear anything about it in the news. Never see any of its football teams in Europe. Cruise ships never call, as if it didn't exist. What's the story? Do they still show Norman Wisdom films there?
Of course Greece will need another bailout and,eventually, to leave the Eurozone. Only the unelected quangocrats on the Europlanet delude themselves into believing otherwise.
Greece in deep recession, massive debt which the EFSM will only dilute a little, the "voluntary" debt restructuring can only be done once on this scale, no industry with economic growth in prospect, black economy where taxpaying is voluntary, social unrest ...... where do we stop??
cause of the crisis is the Euro itself. Without leaving the Eurozone, Greece will never recover.
The cause of the Greek crisis is Greek overspending. It was happening before they joined the Euro, it is still happeneing and it would probably carry on happening after they left.
Eminent domain: Being a bondholder ain't what it used to be!
What happens when the rules of the game for bond buyers change midstream?
Does that make it more difficult to find buyers for that debt in the future?
In other words if a rule change could happen to GM senior bond owners, Greece sovereign bond owners and almost to the owners of CDS on Greece debt, what happens to markets?
Article at The Political Commentator here: http://bit.ly/yuNtv8
Post a Comment