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 Greek debt drama in final act -- cutoff point Feb. 15

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FoxyRoxy
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PostSubject: Greek debt drama in final act -- cutoff point Feb. 15   Sat Feb 11, 2012 5:35 pm

February 11, 2012

Greek debt drama in final act

Rick Moran

There will be no Houdini like escape for the Greeks this time. The EU has
established a cut off point of February 15 where all deals involving the
government's austerity program, it's negotiations with bond holders,
and the political tug of war must all be resolved or the bailout won't
be forthcoming and a March 20 deadline for a debt repayment of $18
billion will be missed sending Greece into a messy default.

Reuters:

Tortuous negotiations over a second bailout for Greece are set to come to a head on Wednesday, putting fragile market confidence to the test on the same day data is tipped to show the euro zone is entering a mild recession.

U.S. retail sales and the release of minutes from the last Federal Reserve
rate-setting meeting, data on UK inflation and unemployment, more
corporate earnings and a Bank of Japan policy meeting also stand on the market's radar.


But it is Greece and a March 20 deadline, when the country must find 14
billion euros ($18.6 billion) to meet debt repayments or face the
prospect of a chaotic default, that will hold the market's attention.


Euro zone officials have said February 15 marks a cutoff points for
agreement on a new bailout deal, without which Greece will have no funds
to cover the March repayments.


"We have a very stretched timetable, so if there's no agreement on
Wednesday any Greek deal would be in dangerous territory," Thomas
Costerg, European Economist at Standard Chartered Bank said.


"Although a disorderly default is not our central scenario, risks are definitely
rising and we think this would have huge consequences potentially on
confidence, on financial markets and on the banking system."


What will happen then? Besides the US and world stock exchanges falling like a rock,
there may be several European banks that will need a massive bailout
from the European Central Bank. As long as the contagion remains
localized with Greece, the crisis will be manageable.


But the worst case scenario of a series of defaults by several countries,
including Portugal, Ireland, and perhaps Spain or Italy would crash the
financial system and could lead to a depression. This prospect has a way
of focusing the minds of Greece and her creditors which may mean that a
deal will come together at the last minute that will satisfy the EU and
the release of the $160 billion in bailout monies will be forthcoming.


Read more: http://www.americanthinker.com/blog/2012/02/greek_debt_drama_in_final_act.html#ixzz1m7D8E18O


Last edited by FoxyRoxy on Sat Feb 11, 2012 5:47 pm; edited 1 time in total (Reason for editing : spacing/font issues)
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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sat Feb 11, 2012 6:04 pm

DOES ANYONE KNOW WHAT RESOURCES AND OR EXPORTS SUPPORTS THEIR ECONOMY. I DO NOT KNOW. ALL I HAVE HEARD WITH THE NEWS, IS THAT THEY HAVE DECIDED NOT TO PAY ANY KIND OF TAXES. THE TAX STRUCTURE IS IN PLACE BUT IT SEEMS THE MAJORITY HAS DECIDED NOT TO PAY THEM. I COULD USE SOME HELP WITH THIS

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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sat Feb 11, 2012 6:11 pm

bobd wrote:
DOES ANYONE KNOW WHAT RESOURCES AND OR EXPORTS SUPPORTS THEIR ECONOMY. I DO NOT KNOW. ALL I HAVE HEARD WITH THE NEWS, IS THAT THEY HAVE DECIDED NOT TO PAY ANY KIND OF TAXES. THE TAX STRUCTURE IS IN PLACE BUT IT SEEMS THE MAJORITY HAS DECIDED NOT TO PAY THEM. I COULD USE SOME HELP WITH THIS
I doubt I can help you with your question, but it is confusing. Who has decided not to pay taxes? If you can clarify your question, maybe somebody will be able to answer it. Smile
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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sat Feb 11, 2012 10:22 pm

I have been told that it will collapse by the same individual who told me of the tsunami in Japan 8 months before it happened. Lucifer is alive and well......All we nned now is the shift in the Atlantic plates.....Now that would garner some attention....
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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sat Feb 11, 2012 11:23 pm

The Atlantic plate is shifting every day ... spreading from the mid Atlantic ridge. Every year NY is fractions of an inch further away from London. Now the New Madrid fault might be an issue ... a major quake like in 1812 would cause huge amounts of damage, or perhaps the Caribbean plate that area is caught between 4 major plates and could have another huge shaker any time.

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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 12, 2012 12:30 am

Well, then, we better all stop jumping up and down on the earth, impatient for the RV, and we must also stop fracking for oil, if we don't want to cause another earthquake.

It really isn't funny, if it's true.


http://blogs.smithsonianmag.com/science/2012/01/how-humans-cause-earthquakes/
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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 12, 2012 10:16 am

Kevin is correct...Did I say that...LOL....but the change I am expecting will be drastic...We shall see....Sante Fe is a great place to settle, plus, the elite bloodlines are everywhere, not to mention the "other side". (They are easy to spot because they almost glow)....Hopefully I will be there soon....They are calling my name....And yes again to Kevin, the Madrid fault is another scary one. Its overdue for a big one...
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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 12, 2012 3:01 pm

Unfortunately you are correct about New Madrid. The scary part about it is because of the type of bedrock, the energy will carried further. The potential area of damage which projects mostly to the North East would include Lexington, St. Louis, Louisville, and possibly Knoxville in the area that would see significant damage, and Memphis in the area receiving near catastrophic damage. New Orleans is theoretically out of the area where significant damage would occur, but if the dikes liquefy ....

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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 12, 2012 3:24 pm

Hmmm, everybody is simply ignoring my comments about "man-made earthquakes"...lol...(although, apparently, they're "real").

Earthquakes have always been a part of life on this planet.

I lived in Northridge, CA, during the Northridge quake in -- gosh, I think it was '94. Nobody even KNEW about that fault. It was huge, and it was horrific.

I understand there is also a huge fault running right under downtown Seattle, under the hospitals, no less (including Children's Hospital), that is many years overdue.

Now I choose to just live every day to its fullest and not worry about it. It's much greater than me (us). I might walk outside and get hit by a cab, which happened to my dear friend a couple years ago, and we lost her.

Just food for thought...
Smile
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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 12, 2012 3:32 pm

Actually the cab is probably has a higher likelihood. I did not comment on the fracking because I am totally unconvinced they are man made ... it may be a possibility, but the jury is still very much out on that one.

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"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18

       
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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 12, 2012 3:48 pm

I agree with you. That's why I put "real" in quotes. I think it's just another way of the environmentalists trying to force humans into the background of our planet and our economy. But that's a conversation more suitable for OOM2... Smile
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PostSubject: Greek MP's pass austerity package   Sun Feb 12, 2012 7:11 pm


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hug
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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 12, 2012 8:57 pm

I really Hope they can Pull it together...I Like Gyro's with Lamb... bigsmile
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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 12, 2012 9:56 pm

HeadNotTheTail wrote:
I really Hope they can Pull it together...I Like Gyro's with Lamb... bigsmile

Laughing Laughing Laughing

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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 19, 2012 1:51 pm

I would be willing to bet ALL of my dinar that Greece (and the others) pull a Supersized rabbit out of their hat very soon!

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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 19, 2012 3:21 pm

DONT KNOW ABOUT THE BET GOODGOSH. BUT I THINK YOUR RIGHT.

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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 19, 2012 3:28 pm

FOXYROXY... you are right on the nose with the Fracking...It is creating man-made earthquakes. We have a LOT of Fracking going on here and we are experiencing quite a few earthquakes. WHere as, we NEVER had them before. At least not where they were noticable. Now, WE NOTICE!!!!!!

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PostSubject: Re: Greek debt drama in final act -- cutoff point Feb. 15   Sun Feb 19, 2012 4:50 pm

As to Greece and default...Lok for Tuesday of the coming week. This will be a VERY big day for Greece and the (almost) entire E U (euro)....rick152

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