Greek eurozone exit thread

M

m22au

It looks like Thursday 9 April is a crucial day:
"Greece Faces D-Day On April 9, Will Default Within 30 Days Of Missed Payment, BofAML Says"
http://www.zerohedge.com/news/2015-...ult-within-30-days-missed-payment-bofaml-says

Further update here:
"Greece Said To Prepare "Grexit", Drachma, Bank Nationalization Plans"
http://www.zerohedge.com/news/2015-...are-grexit-drachma-bank-nationalization-plans

and here:

"We will go bankrupt in a week, Greece warns creditors as trust frays in debt drama"
http://www.telegraph.co.uk/finance/...ufakis-slams-lenders-for-leaking-reforms.html

"Greece draws up drachma plans, prepares to miss IMF payment"
http://www.telegraph.co.uk/finance/...achma-plans-prepares-to-miss-IMF-payment.html

Previously, on 2 March:
"Can Greece "Just Print Drachmas"? Goldman Answers"
http://www.zerohedge.com/news/2015-03-02/can-greece-just-print-drachmas-goldman-answers

.
 
Last edited:
Tavurth said:
It's certainly an interesting situation. If Greece defaults, what comes next? Are we talking pound of flesh, or an entity standard bankruptcy?
More...

Not sure what you mean by "pound of flesh" or "entity standard bankruptcy" in this specific situation.

The question "what comes next?" is answered in these two articles:

http://www.telegraph.co.uk/finance/...achma-plans-prepares-to-miss-IMF-payment.html

http://www.zerohedge.com/news/2015-...are-grexit-drachma-bank-nationalization-plans

.
 
Tavurth said:
It's certainly an interesting situation. If Greece defaults, what comes next? Are we talking pound of flesh, or an entity standard bankruptcy?
More...

Greece will never leave Eurozone, they know that in the long run they will receive more aid from Eurozone countries than they will ever receive from Russia. Northern Europeans countries of Eurozone ( Protestant alliance) are probably themselves wandering why they let in Greece in the first place, thus they would love for Greece to leave but can't come out and say it publicly. Look at how differently Ireland and Greece are handling the crisis.
 
m22au said:
Not sure what you mean by "pound of flesh" or "entity standard bankruptcy" in this specific situation.
.
More...

Thank you for the articles, seems like everyone is locked into the precedence of the situation. Should break with some nice waves.

Pound of flesh is a reference to The Merchant of Venice, where a debt collector demands one pound of a defaulters flesh (His heart).
 
Tavurth said:
Thank you for the articles, seems like everyone is locked into the precedence of the situation. Should break with some nice waves.

Pound of flesh is a reference to The Merchant of Venice, where a debt collector demands one pound of a defaulters flesh (His heart).
More...

Thank you for the Merchant of Venice detail - I was aware of the idiom, just not from where it came.

Regarding the 'pound of flesh' - the reason I was surprised about you raising this is because with corporate defaults, creditors can demand equity in a restructure. With sovereign defaults, it's quite different with no (tradeable) equity available.

.
 
m22au said:
Thank you for the Merchant of Venice detail - I was aware of the idiom, just not from where it came.

Regarding the 'pound of flesh' - the reason I was surprised about you raising this is because with corporate defaults, creditors can demand equity in a restructure. With sovereign defaults, it's quite different with no (tradeable) equity available.

.
More...

what about ETFs?
 
You must log in or register to reply here.
Back
Top