Skip to content
Socio-Economics History Blog

Socio-Economics History Blog

  • About

Socio-Economics History Blog

Socio-Economics History Blog

Juncker Warns Of Greek Default As Europe’s Patience With Greece Runs Out !

February 6, 2012 by mosesman
Illuminists are lining up the dominoes for a collapse of the Eurozone!
  • The idea that PSI (private sector investors) will accept a 70% haircut and restructure Greek debt ‘voluntarily’ ie. cannot be declared as default, while the ECB and IMF will take no losses is questionable. Why would anyone exchange their existing loans/bonds for more loans at an even longer time period when it is clear that Greece has no ability to pay?
    –
  • Even after all the planned debt forgiveness and restructuring, we are talking about debt to GDP of 120%. With the collapse of the Greek economy and the PIIGS situation, how likely is it that PSI will see their money back? Not likely at all. The rational thing for the PSI to do is to reject compromises and force Greece into a hard default. Then PSI can claim insurance using their CDS. This is of course something which the banksters do not want. They are the parties which issued the CDS and have to pay out.
    –
  • The Illuminist banksters will paint a picture that it is all Greece’s fault. In reality, what these Illuminist banksters have offered are more debts (not bailouts, it is a misnomer) upon existing debts. The sane thing for Greece to do is to declare a hard default! The Greeks should not be made to pay odious and fraudulent debts created by Illuminist banksters in collusion with Illuminist politicians.
    –
    Juncker Warns Of Greek Default As Europe’s Patience With Greece Runs Out ! 
    by Tyler Durden, http://www.zerohedge.com/ 
    Following up on our report from this morning that according to former Greek defense minister, German submarine chief procurer, and not to mention Jenny Twenty repeat offender, Evangelos “Xanax” Venizelos, we learn that the god of Deus Ex Machinae is about to abandon Greece, after an announcement by that most magic unicorn-infatuated of bureaucrats, Eurogroup head Jean-Claude Juncker made it clear that Greece is all but finished.
    –
    As Reuters reports, “The possibility of a sovereign default by Greece cannot be ruled out, Jean-Claude Juncker, head of the Eurogroup of finance ministers from the single currency zone, said in a German magazine on Saturday.” Translation: A Greek default on that €14.5 billion bond maturity D-day of March 20, is now inevitable. In an advance copy of comments to news weekly Der Spiegel, Jean-Claude Juncker was quoted as saying Greece could no longer expect solidarity from other euro zone members if it cannot implement reforms it has agreed. “If we were to establish that everything has gone wrong in Greece, there would be no new programme, and that would mean that in March they have to declare bankruptcy,” he said. So after years of delaying the inevitable sovereign Lehman weekend, it is finally here. As a reminder, when Lehman filed, everyone, at least those in charge, thought the fall out could be contained. It couldn’t, and the Fed had to step in with roughly $30 trillion in backstops, guarantees, and asset purchases. The same will happen this time.
    –
    Curiously, it was none other than Zero Hedge who said back in April of 2010, that Greece should just cut the cord and get on with it, because “Not only will a delay in defaulting do nothing for the economy except bleed it to death slowly, but ever more frequent risk flare episodes culminating in bank runs will intensify the deposit outflows and impair the banking system beyond repair (for depositors to keep their money in Greek banks, they need to be compensated for the risks: double digit rates sound about right), thus dooming any hope for an economic recovery.” Funny how correct we were on that assessment, just two years ahead of the Eurozone’s kleptocrats. On the other hand, having called Europe’s bluff for as long as it did, is also an admirable development, if only instead of recycling the cash mooched out of Germany to pay European banks, it had been injected back into the economy and not into German submarines….
    –
    As for next steps, the only question now is what happens in that critical interval between February 29 when the second ECB 3-year LTRO takes place, and March 13, when the next FOMC statement is due, incidentally just after the BLS announce that all the labor numbers in the past few months were really just a joke, and the economic contraction is about to hit the US despite what those who believe that the market, and thus the economy, is really just a reflection of one month’s seasonal labor adjustment.
    –
    And while in the past imminent deadlines were always promptly forgotten this time around, Greece may have boxed itself into a corner, having said earlier today that all must be set in under 24 hours or else the bailout is off the table. Alas, there will be no resolution tomorrow.
    –
    … for more click here!

end

Post navigation

Previous Post:

Lindsey Williams: Imminent Financial Collapse, Bank Holiday And 40% Devaluation of Dollar!

Next Post:

Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low!

Pages

  • About

Recent Posts

  • 🚨 TRADE WAR CALLED OFF: US Defeat or Strategic Surrender? U.S. & China’s 90-Day Gamble Breakdown
  • Planet Nine: First Real Clue After Decades of Searching
  • Insiders Are Dumping Stocks; Get Ready For Market Meltdown | Chris Vermeulen
  • U.S. Consumer Is Breaking Down – Markets Just Don’t See It Yet | Stephanie Pomboy
  • Fear & Greed Index Skyrockets (Are We Headed For A Boom or Bust?)
  • Michael Yon And Mike Adams Talk Panama, Pakistan, India, Russia And SEA ROUTES for Energy And Trade
  • Biden’s Plan For A Microchipped Post-Pandemic Population
  • UFOs: Spiritual or Alien? Researcher Explains
  • Centuries of Influence: The Rothschild Archive REVEALED | #GrandTheftWorld 233 (Clip)
  • The Quintessential Devil in the Russia-Ukraine Conflict – IS OUT!
  • The Martin Armstrong Warning They Don’t Want You to Hear
  • How the BIS (Bank for International Settlements) Controls Global Monetary Policies From The Shadows
  • Grant Williams: Massive Once-In-A-Century Change Is Underway. Don’t Be Blind To It!
  • Macron In Cocaine Scandal? ‘Merz, Starmer With French President Sniffing…’ | Truth Revealed
  • US And China Reach Agreement to Cut Tariffs | BBC News
  • How $21 TRILLION Went Missing From U.S. Tax Payers! -Catherine Austin Fitts FULL INTERVIEW
  • Catherine Fitts: Power Grids, Bankers vs. the West, Secret Underground Bases, and Extinction Events
  • Yanis Varoufakis: New Economic World Order & Europe’s Suicide
  • Iran’s Latest US Aircraft Carrier FOOTAGE RELEASE: “In Case YOU’RE TRYING To Fool Us!”
  • CHINESE WEAPONS SHOCK THE WEST: Pakistan’s J-10C Jets Take Down India’s French Rafale | Carl Zha
  • Long Term Treasuries Losing the War Against Gold.
  • Trump’s SHOCKING Turn Against Netanyahu! Is It Real? w/ Catherine Austin Fitts
  • ‘Consensus’: China Briefs On U.S Trade Talks As White House Teases ‘Trade Deal’
  • BREAKING: Sources Confirm To Alex Jones What Infowars Reported A Month Ago: Trump Is COMPLETELY DONE With Netanyahu!
  • Israeli Cops BEAT UP Hasidic Jews Protesting War In Gaza!
  • English Speech: Putin Warns Israel, Shocks Netanyahu Amid Iran Tension| Russia| Mahmoud Abbas| Gaza
  • Europe’s Final Act: Germany & EU Head for Disaster, “Only Collapse Will Change Europe” I Marc Faber
  • Hugh Hendry: TRUMP’s Plan to RESET Global TRADE – Painful Times Ahead

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011

Categories

  • Disaster
  • Economics
  • Endtimes
  • Geo-Politics
  • History
  • Medicine & Health
  • Satire
  • Science & Technology
  • Social Trends
  • Uncategorized

Meta

  • Log in
  • Entries RSS
  • Comments RSS
  • WordPress.org
February 2012
M T W T F S S
« Jan   Mar »
 12345
6789101112
13141516171819
20212223242526
272829  
© 2025 Socio-Economics History Blog | WordPress Theme by Superbthemes