I write at Yahoo: The Drachma Drama Two years ago, there was a crisis in Greece, when it couldn’t pay back debt that it had taken. The government’s debt was 120% of GDP then. The country simply couldn’t afford to pay back its loans, and the impact would have been felt all over Europe, where [...]

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Greece managed to get the “Private Sector Involvement” in a deal that restructures their debt, effectively making lenders forgive $100 billion euros. This will give them access to a second $130 billion euro package, which is essential for their survival. Investors will receive new bonds for 31.5% of the old bonds’ face value in the [...]

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The story about Greece and international stock markets. Greece needs a bailout. Reaction: OH MY GOD! All the banks in the world will die! We have to find them the money! The stock markets are going to collapse! RISK OFF! [World stock Markets plunge] Greece gets a bailout package of gargantuan proportions, in return for [...]

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The EU leaders have decided (pact) to rescue Greece: 109 billion euro will be paid to Greece, at about 3.5%, through the EFSF. The maturity will be extended from 7.5 yrs to a minimum of 15 yrs and max of 30 yrs. Private sector banks and funds will participate and chip in 37 billion euro. [...]

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On Jun 25, at the MarketVision Chronicle I write about Greek Austerity and more: (You need to register to access, registration is free) Austerity and Greece The Greeks vote on an austerity package next week, as they prepare to have: Pay freezes for all public sector workers, and job losses for contract workers in the [...]

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I write at Yahoo: “Draw Down The Revolvers” It was what they needed to do, they all agreed. But what ended up dying wasn’t a human — it was a company. In Enron’s dying days, the company started to see problems with its debt. It had issued billions of dollars in short term commercial paper, [...]

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And it’s not about the debt, it’s about the bailout. After huge tax raises, and massive cuts in spending, Greek protestors have taken over the streets, says the Financial Post. (Pics at the Business Insider). The Athens market has been dropping …

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Greece’s debt is seeing demand destruction of recently unknown sorts. Their two-year bond yields jumped to 13.5%, which is higher than most countries can imagine – in fact, the highest short term yield in the world right now. Remember, just a few w…

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Greece is on the verge of default or a bailout or a bit of both, it seems. The idea of any of these events happening has spooked world markets; now any rumour seems to come with big market moves – an indicator of a panic move in the offing. Who knows…

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