Merkel: 50 pct haircut to cut Greek debt by 100 bln euros

Reuters ^ | 10/27/2011 | Reuters

[Revolting cat!]

Greek barber Nick Venizelos

[BooBoo1000]

For all practical purposes, Greece has defaulted on their bonds. No matter what you call it. Watch Italy Spain Portugal, all get in line now Merkel Massacre

[BooBoo1000]

For all practical purposes, Greece has defaulted on their bonds. No matter what you call it. Watch Italy Spain Portugal, all get in line now Merkel Massacre

[Revolting cat!]

The Poles (4.2% growth this year, no recession), who were to join the Eurozone next year, are now saying, ‘no, thank you too much.”

[stephenjohnbanker]

” No, they will start another riot in Athens because these terms are “Draconian.”

Athens = ass-ends

[Principled]

How much, so far, has been given to Greece to attempt to solve their debt problem... the problem that they spent more than they had and now cannot repay?

It seems there should be a running total included each time these new rescue attempts are announced [followed soon by another rescue.]

Seems they’d learn.

[newnhdad]

so this deal was the equivalent of a short sale of an existing home in order to buy another larger house on the same no income, no job, no assets terms as the last one. That’s insane. Why is the stock market soaring?

[ZX12R]

so this deal was the equivalent of a short sale of an existing home in order to buy another larger house on the same no income, no job, no assets terms as the last one. That’s insane. Why is the stock market soaring?

I don't know much about the stock market, but my guess is that the rise yesterday was simply the market traders playing the latest trend, or just thinking that they are. Almost no one has hope for the economic future of America, as long as Obama and the socialists are in charge. Therefore, the amount of real investors in the market is Zero. The DJI is now nothing more than a trader's game, which cannot function normally.

[ecomcon]

The only way the Euro continues is if the Germans continue to pay for it. Why should they?

Because they are socialists, and they want to keep the dream alive. Same as here. No one will tell the truth about anything.

[ichabod1]

Haircut. See? That’s not so bad. It’s a haircut. Everybody has to get a haircut now and then.

1) That sucking sound you hear is the sound of 100 billion Euros of wealth vanishing.

2) Why would anyone loan anyone money through buying bonds when this is apparently likely to happen (cough... gm).

[ichabod1]

And this is where Chancellor Merkel’s warning of war becomes immediate, urgent. IF Greece is unable to control the thugees, trade unionists, and communists, and come to terms with austerity, they WILL be cut off. Then the other regional powers may be forced to take it over militarily to control it. Who would be in charge of such a military government sort of scenario? The whited sepulchers of Brussels? And what if the rest of the PIIGS went south? Could Brussels find itself ruling Portugal, Italy, Ireland, Greece and Spain and suzerain to the rest of the EU? Is this the conspiracy laid bare after all?

[ichabod1]

I’ve also concluded, or am leaning toward it, that the problems that we are all facing now cannot be solved by parliamentary bodies. NONE of them will be able to do what is really needed, which is to essentially dissolve themselves and throw themselves on the mercy of the military.

[risen_feenix]

“Why is the stock market soaring?”
Conventional wisdom states that when bonds lose their luster, investors flee bonds and put the money in stocks.

More to it than that, but that’s part of it.

[dfwgator]

“Why is the stock market soaring?”

Remember what PT Barnum said.

[TheWriterTX]

You're spot on, Twelve.

There is a firesale going on. If you aren't on the inside, you're being sold, too.