- This coming global economic, financial and monetary collapse is a staged, controlled, step by step planned event. It will start in the PIIGS, spread to UK, rest of EU, Japan …. and finally America. Along the way, the rest of the world will also collapse. To make doubly sure that the entire globe will be engulfed in cataclysm, the Illuminists will start their war against Iran ie. – the Beginning of World War 3! I expect China (and Asia) will be extremely hard hit by escalating oil prices and rising unemployment.
Greece gets closer to brink of bankruptcy!
By Helia Ebrahimi, http://www.telegraph.co.uk/
Fears are mounting that Greece could be the first European country to default on its debt in 60 years, as the country gears up to salvage collapsed talks over bond repayments on Wednesday. Three months of negotiations ground to a halt on Friday night, amid a wave of downgrades by ratings agency Standard & Poor’s aimed at a clutch of European countries, including France.
The unexpected breakdown in talks between Greece and its private-sector creditors has taken the country a step closer to bankruptcy after a failure to sign up lenders to a voluntary and “orderly” 50pc haircut to their holdings. Greece’s finance minister Evangelos Venizelos said talks would resume on Wednesday to “bridge differences” but insiders remained sceptical that a deal could be stitched at such a late stage.
The clock is ticking for Greece, as a deal must be reached before March 20, when the country is due to receive a further €130bn (£107bn) bail-out tranche from the International Monetary Fund and must make a key €14.5bn bond payment.
The problem centres on the difference between lenders agreeing to a “voluntary” and orderly default – which would mean swapping into bonds with a lower value – and lenders refusing terms, which would cause a default.
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