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Realistbear

Hole In Greek Finances Bigger Than Thought As Bond Flight Continues

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http://www.telegraph.co.uk/finance/economics/gilts/8474725/Hole-in-Greek-finances-bigger-than-thought-as-bond-flight-continues.html

Hole in Greek finances bigger than thought as bond flight continues
Fears that struggling eurozone nations will not be able to pay their debts intensified as official data showed the hole in Greece's finances was bigger than thought.

If truth were known panic would spread. Its all contained you see.

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http://www.telegraph.co.uk/finance/economics/gilts/8474725/Hole-in-Greek-finances-bigger-than-thought-as-bond-flight-continues.html

Hole in Greek finances bigger than thought as bond flight continues
Fears that struggling eurozone nations will not be able to pay their debts intensified as official data showed the hole in Greece's finances was bigger than thought.

If truth were known panic would spread. Its all contained you see.

RB, expect a flight to the quality bonds on offer in the UK. No shenanigans in our little nation, no off balance sheet accounting and no hidden pension liabilities and with public sector wages tightly under control and no perverse incentives in the job market, you cant go wrong. Even if the rate of interest is a paltry 3.5% on the ten year bond, it is a snip given our nations financial probity.

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Greek Yield Surge a ‘No Confidence’ Vote

Greek two-year yields surged almost two percentage points to as high as 25.95 percent, rising above 25 percent for the first time ever. Ten-year yields soared as much as 1.01 percentage points to 16.34 percent, reaching euro-era highs for a ninth consecutive day.

...

The nation isn’t considering a restructuring, a Finance Ministry press officer in Athens said today by e-mail :lol::lol: . “Nothing has changed,” said the press officer, who cited government policy in asking not to be identified.

...

Irish and Portuguese bonds all slumped today, and the cost of insuring debt sold by Greece, Ireland and Portugal rose to records

If I were a conspiracy theorist, I might suspect TPTB are pushing the Euro as high as they can, ahead of a spate of debt restructuring which they know is inevitable :blink:

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Pretty clear that Greece will not repay the €325b+. That being said a straight default is unlikely as it would sink the eurozone and then world economy. They money will be printed or paid back by Germany, France etc.

The currency markets seem to be happy to believe it is all contained, which it is until 2012/13. Greece is fully funded until then, they are meant to return to the market after that which is clearly impossible.

Once the austerity programs have failed and ECB monetary policy has run these economies in to the ground a real solution will have to be found.

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strike me down with a feather.

Over on Max Keiser a Mr Rickards say's Greece has around 100 tons of gold. Mr. Rickards reckons Greece could sell ten tons to China at an attractive price in exchange for a bonds deal that could help solve their problems.

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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