part 2

It gets uglier by the day or minute but closer to reality – I was wondering why we heard nothing from Greece and they bought time as they are running a hidden agenda. The Argentina version is their real aim to settle around 25% and that will ultimately mean to exit the Euro. That on the other hand does not make sense as the debt even 25% stays in euro since the Drachma will crash and the Euro debt will become more expensive.

This scenario plays  into the climax pattern astrology clearly suggest within the next 2-3 weeks.

excerpt

Greeks Restart Bond Haircut Negotiations, Demand Lower NPV, Bypass IIF In Creditor Discussion

Submitted by Tyler Durden on 11/25/2011 – 11:42Bond CDS Credit Default Swaps Creditors default European Central BankEuropean Union France Greece Gross Domestic Product Institutional Investorsnotional value Reuters

And so the one thing that was supposed to be set (if only briefly) in stone, the terms of the Greek creditor haircut, has now fallen apart. From Reuters: “The Greeks are demanding that the new bonds’ Net Present Value, — a measure of the current worth of their future cash flows — be cut to 25 percent, a second person said, a far harsher measure than a number in the high 40s the banks have in mind. Banks represented by the IIF agreed to write off the notional value of their Greek bondholdings by 50 percent last month, in a deal to reduce Greece’s debt ratio to 120 percent of its Gross Domestic Product by 2020.” And confirming that the IIF has now lost control of the situation, “the country has now started talking to its creditor banks directly, the sources said.” And because the NPV is only one component in determining what the final haircut really is, this means that the haircut just got higher or the actual coupon due to creditors will be slashed, a move which will see Sarkozy balking at this overture in which Greece once again sense weakness out of Europe. We can’t wait to hear what France says to this latest escalation by Greece, which once again has destroyed the precarious European balance.

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~ by behindthematrix on November 25, 2011.

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