Author Topic: Greece: The land that gave the world democracy!  (Read 1832 times)

inselemel

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Greece: The land that gave the world democracy!
« on: February 28, 2012, 02:34:26 AM »
Hi i just saw a Tweet "European Central Bank will no longer accept Greek debt as collateral for loans" and saw on the Sky News website http://news.sky.com/home/business/article/16178597 "Euro Crisis: Greek Solvency 'To Be Checked'"

"Greece's solvency is being called into question, raising the stakes in its battle to avoid default.

The International Swaps and Derivatives Association (ISDA), which oversees complex forms of credit-related trading, has been asked to determine if a Greek 'sovereign credit event' has occurred.
The identities of the people or organisations behind the query is unknown but they are believed to be 'market participants'.
If ISDA agrees that Greece has failed to meet its payment obligations, it could lead to a payout on outstanding Greek Credit Default Swap (CDS) contracts - which are essentially insurance mechanisms to protect against default.
ISDA's deadline for a decision on whether to investigate is 1700 GMT on Wednesday.
A default ruling could trigger CDS payments
In reaction, Sky's economics editor Ed Conway said "The negotiated default is now starting to kick in and become official."
"This is the default that has been planned for and is aimed at preventing a 'messy' default."
The development followed Standard & Poor's decision last night to downgrade the country's debt to below junk status - deciding Greece was in 'selective default'."

Personally, i think it is rather fitting that the country (Greece) that gave the world democracy could start the ball rolling for the downfall of the Dark Cabal  ;D (i know not every one believes that there is a dark cabal - but i most certainly do).


inselemel

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Re: Greece: The land that gave the world democracy!
« Reply #1 on: May 09, 2012, 02:45:43 PM »
http://www.bbc.co.uk/news/business-18014075
Greek bailout: Eurozone holds back 1bn-euro payment

"The eurozone's rescue fund has decided to hold back 1bn euros ($1.3bn; £800m) of its latest instalment of its bailout to Greece.

This comes after a majority of Greeks voted against the political parties that supported the country's bailouts and the austerity they have imposed.

The rescue fund said that it would disburse 4.2bn euros of the 5.2bn euros due to Greece.

It said that Greece did not need the remaining funds this month.

The 1bn euros will be released later "depending on the financing needs of Greece", the board of the European Financial Stability Facility (EFSF) said in a statement.

"As with previous disbursements to Greece, the EFSF will transfer the 4.2bn euros into a segregated account which will be used for debt service payments."

Eurozone finance ministers will consider whether to disperse the remaining 1bn euros when they meet on Monday, a source told the AFP news agency.

But a eurozone source told the BBC that while this could happen at the meeting, it was "not likely".

The EFSF has previously held back portions of the bailout if Greece did not immediately need it to pay off the interest payments on its debt.

The uncertainty of whether Greece might leave the eurozone has spooked investors and angered European officials, who want Greece to stick to the austerity cuts previously agreed.

Greece is due 39.4bn euros - of its 110bn-euro bailout - before the end of June."

Again, this is just my opinion and sorry for repeating myself, but as the title of this topic suggests i think that it is Greece's destiny as the 'giver' of Democracy to the world then it starts the new financial systems which have been promised which are to bring prosperity to everyone. Many do not believe the channelings re Ascension and the new 'Golden Age' or the info about the 'Arrests of the Dark Cabal' or even that there is a dark cabal - and that's fine.

I say this could start the ball rolling as if Greece defaults and comes out of the Euro then others may follow Italy, Spain, Portugal, Ireland etc  this would bring about crashes in the markets, recession (which UK is officially in again :-X and we ain't even in the Euro) etc etc this in turn would/should make people think there must be a better way and so the new financial system is born!

Don't think it is going to be as easy as Hey Presto, tho unfortunately!