Black Sunday:- Greek default today?

[Mega]

http://lunaticoutpost.com/Topic-I-ha...eclare-default

Am know its NOT very credable source wise, but the Greeks need $650 billion by Tusday i think?
Mike

[Mega]

Re: Black Sunday:- Greek default today?

Yep, 600 Million Euros by Tusday..........

[CanuckinTX]

Re: Black Sunday:- Greek default today?

[Mega]

Re: Black Sunday:- Greek default today?

Er not much luck with that dude.
Mike

[gnk]

Re: Black Sunday:- Greek default today?

Rumors of a Greek default are getting tiresome. I'm not ruling that eventuality out, but living here in Greece - I have had my share of weekend rumors of emergency meetings and the printing up of drachmas.

Greece is caught in a trap. It is a net importer that is also suffering from private sector deleveraging. Thus, it's economy is already bleeding money in both the private sector and the foreign investment sector. Cut government spending to boot - and you have a debt deflation spiral. GDP drops, and the deficit to gdp targets are more difficult to reach.

It's a catch-22.

edit: One thing I want to mention, there has recently been a flurry of activity in granting oil and gas exploration rights by the Greek government. Desperation? Or has the Greece-Turkey issue been resolved - note Cyprus has recently granted a license to a US company and Turkey's complaints be damned. This would have been unheard of 10-20 years ago.

[GRG55]

Re: Black Sunday:- Greek default today?

Don't the Greeks have a policy of "Never on Sunday"...