Greece draws up drachma plans, prepares to miss IMF payment

Thanks OP. I wonder how many derivatives are tied to a possible Greek default? That could rip across the global banking system. It is not what is owed, it is the leverage of derivatives and counter party risk that is the issue.

Gee the banksters might not get paid? Go Greece!

5* and a pin request. this is important.

Oh Skata!

I think if Greece defaults there is already a schedule of how much share is covered by all the other members of the EU, meaning, taxpayers. Banks have already dumped most of their Greek bonds

And THAT Lady's & Gentleman is why it's all fucked up.

My thoughts on this are different.

I wonder if the EU/IMF will give in and accept whatever payment Tsipras will agree to make - a little rather than nothing at all.

Everything is possible at this stage.

Let me me fix this for this socialist sack of vomit:

'We are a Left-wing government. We are no-brainers and so are our supporters. Doy!'

Socialism works fine until you run out of someone else's money.

I hope they do leave the EU. The entire mess is a classic case of prisoners dilemma anyway. First one out May very well be the "winner" when it's all said and done. Just look at how Iceland recovered after NOT bailing out the banksters back in 2008/2009.

Bowing to the IMF/ECB and remaining debt slaves has very little hope (if any) of ending well. At least an exit has options and gives them back a measure of control.

What a shemitah.

Going to really impact the CDO and CDS markets...someone is gonna have to pay!!! About to find out if the reserves that those banks have held back are going to be enough...

Last Edited by Saddletramp on 04/04/2015 11:33 AM

Or you import some other lands people

They will pay the IMF, no matter what!

the orthodox easter is next week in Greece. A long holiday.
That doesn't mean something should happen. A very few know when the apel is ripe.

Derp

I feel they've been "harboring terrorists", or perhaps working on "wmd's"?

They're new president is a bad man, he kills his own people.

We must liberate the people of Greece from the evils of their government!

Unless you happen to be the worlds reserve currency and can print money all day long while exporting the inflation to 3rd world shitholes like Greece.

Yeah but, antisemite!!!!!

Spot on.

Just to further clarify....the socialism statement is correct AND the fact that the US can manipulate themselves to look good is also correct. Capitalism died another death when the US bailed out the banks....hopefully US citizens see beyond the BS on TV stating everything is fine.

I'm not a leftwing fan, but we had rightwing governments that were directly responsible for multiple economic collapses, including in 2008-2009. These governments (along with leftwing governments) bailed out the people who caused the collapse, no one went to prison, and today they're doing the samething all over again, and living extremely large while most are being squeezed left, right, and center.

We in the U.S. have a socialist system....primarily for the elite and wealthy. The majority live under a 'free market' and 'free trade' system, and are nickle and dimed to death by corporate America, 'conservative' governments, AND 'progressives' (liberals- leftist).

Yes, if what you are doing is not working .....then....

just keep doing it over and over ???

What is wrong with this picture?

- They have posters on the wall in Greece: Resist Capitalism 100% -

Hmmmm...........

Euro is in trouble because of the PIGS.

Portugal

Italy

Greece

Spain

Time to face reality.

The Euro is a shitstorm waiting to happen. It will only work with a full political union (not going to happen) with every EU 'country' willing to subsidize other EU 'countries' if need be.

The USD works because the US is a single political-economic (and social) entity. And in the US there are in-fact sone states that give more $ to the federal government than get back, while there are others that are subsidized by the federal government.

Ha!

Greece......


It's ______ or get off the pot time. They new leaders talked all this trash and were voted in to leave a long time ago. This grexit saga bores me. We in the US have more debt than they do. Will we have an Amexit?

The US has far more going for it than Greece, and the huge GDP chugs along. And most, by far most, US debt is domestic, not foreign. I think some people think foreigners own most US debt; not by a , long shot.

It's all good until the dollar is no longer accepted. Not a matter of if, but when. When this happens, what is going on in Greece will look like a night out with the most beautiful woman in the world as compared to what we will have to face. Think about that whole longshoreman dispute back in January, except this time the ships will simply not show up in the first place.

Also, despite the huge deficits it is quite feasible that if the US actually had to live off just revenue that it would be possible.

Military spending and social programs would be cut all to hell, but the truth is that our spending is full of pork and that revenue actually currently covers well over half of all expenditures.