Greece Falters in Debt Talks With Creditors!

• The political theatre continues. Greece will default! It is a question of whether it will trigger the billions of CDS or not? The 5 Illuminist banks which hold 97% of the world’s CDS derivatives definitely do not want to pay out. However, their Illuminist masters decide to pull the plug on the entire system and allow a default. Thereafter, Illuminist central banks like the FedRes, ECB, World Bank, IMF …. will create a massive amount of monies out of thin air to bail out these 5 banks (who are their shareholders)! Got physical gold yet?
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  Greece falters in debt talks with creditors!  
  By Louise Armitstead, http://www.telegraph.co.uk/ 
  The Greek prime minister has failed to secure a bondholder agreement despite appealing for help from the bosses of the International Monetary Fund (IMF) and the European Central Bank (ECB) to help break the dangerous deadlock.
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  Lucas Papademos held emergency telephone talks with Christine Lagarde and Mario Draghi today in a bid to find a way to meet the demands of both Greece’s private creditor banks and its “troika” paymasters.
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  Evangelos Venizelos, the Greek finance minister, told reporters he hoped to announce a deal this evening to avoid rattling global stockmarkets. However, he added: “It’s not an impasse but there are problems for the Greek side.”
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  There are just six weeks left before Greece faces a €14.5bn (£12bn) bond repayment which it cannot meet without international aid. European leaders have said Greece will not receive funds from the €130bn rescue package unless it can persuade its private creditors to take losses to reduce the country’s debt pile.
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  Sources close to the private creditors told The Daily Telegraph that an agreement was still “some way off”. Although the banks have in principle agreed to take a 50pc loss on their bonds and an artificially low coupon on new Greek debt, the process is complicated by the demands of international officials on the country’s budget.
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  Sources said the “focus” of the talks remained stuck on troika demands that include a 25pc reduction in the minimum wage and tougher public sector spending and job cuts.
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  … for more click here!

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