Greece Archive

PM RTRS – GREEK POLITICAL LEADERS’ MEETING ON BAILOUT PACKAGE POSTPONED TO WEDNESDAY–GREEK GOVT OFFICIAL ….

PM RTRS – GREEK POLITICAL LEADERS’ MEETING ON BAILOUT PACKAGE POSTPONED TO WEDNESDAY–GREEK GOVT OFFICIAL …. Postponed again? Who would’ve thought? ...Read More

Greece hopes for debt swap deal by end of week

So it could be that the creditors have agreed to swap their bonds for 30 year bonds with ‘half their face value’ but maybe also with about equal economic value, which can in theory be done if the coupon and quality of the new bonds is high enough. But, again, seven months ...Read More

euro shares slipping on Greece

It wouldn’t be taking this long if there was a way to get’er done? Not to mention that once haircuts are finalized the obvious political response from the opposition in Italy, for example, is “if Greece doesn’t have to pay why do we?’ Europe Shares Retreat From Highs as Greece Talks Stall ...Read More

DJ Greece, Creditors’ Deal Would Have Average 4%-4.2% Coupon On New Bonds

Wonder if the ‘New Bonds’ are Mosler bonds? *DJ Greece, Creditors Close To Agreeing Step-Up Coupon Of Around 3.5%-4.6% -Source *DJ Greece, Creditors’ Deal Would Have Average 4%-4.2% Coupon On New Bonds -Source *DJ Greek Creditors’ Real Writedown Seen At 65%-70% Under Deal Terms -Source *DJ Final Details On Greek Coupon Deal ...Read More

Riley Says Greek IMF Growth Program Doesn’t Seem to Be Working

Astute observation: Riley Says Greek IMF Growth Program Doesn’t Seem to Be Working Jan. 10 (Bloomberg) — David Riley, head of sovereign ratings at Fitch Ratings, said the International Monetary Fund’s program for Greece may not be working. “The IMF program at the moment doesn’t seem to be working,” he said at ...Read More

DJ Europe Mulling New Role For ECB, Lending To IMF-Greek FinMin

Hint of German support? *DJ Europe Mulling New Role For ECB, Lending To IMF-Greek FinMin ...Read More

Spanish Voters Set to Throw Out Socialists in Election

As previously discussed, there is virtually no political support to leave the euro, as it’s not intuitively obvious the euro is the problem. It is intuitively obvious, however, that the problem was irresponsible govt and so the move towards responsible govt- aka austerity- continues. The euro economy can be easily ‘fixed’ and ...Read More

Roubini tweet

interesting: ...Read More

My big fat Greek MMT exit strategy

Due to popular demand, I’ve begun outlining a Greek exit strategy to exit the euro currency, and instead use its own new currency to provision itself: 1. The Greek government would announce that it will begin taxing exclusively in the new currency. 2. The Greek government would announce that it will make ...Read More

Republicans, fearing Greece, agreeing to tax hikes

Shows the Republicans truly do fear the US becoming the next Greece, as they begin to lean towards tax hikes. Meanwhile, they continue keeping us on the road to Japan. Or worse. A lot worse. Republicans Consider Breaking No-Tax Vow as Deadline Looms By Brian Faler November 15 (Bloomberg) — For Senator ...Read More