Tag Archives: Greek Finance Ministry Stuns World With Details Of German Banker Meeting

John Ward – UPDATED: BREAKING….As IIF & Majors Bondholding Revealed To Be A Miserable 20%, Greek Finance Ministry Stuns World With Details Of German Banker Meeting – 6 March 2012

MARKETS DIVE AS FRANKFURT THREATENS GREEKS IF DEBT RESTRUCTURE FAILS

Question must be asked: is this an anti-ECB power play by Bankfurt?

(Updated 17.45 GMT)

At 15.18 GMT today (Tuesday), text of minutes relating to a meeting with senior Frankfurt bankers was released by the Greek Finance Ministry. Complicated, but potentially sensational, the text  (my highlights +emphasis) includes this extract: Continue reading

John Ward – BREAKING….As Bondholder Acceptance Revealed To Be A Miserable 20%, Greek Finance Ministry Stuns World With Details Of German Banker Meeting – 6 March 2012

MARKETS IN FREEFALL AS BERLIN APPEARS TO PULL PLUG ON GREEK DEBT RESTRUCTURE

Just released by the Greek Finance Ministry. Complicated, but sounds absolutely sensational: (my highlight)

‘The Republic’s representative noted that Greece’s economic programme does not contemplate the availability of funds to make payments to private sector creditors that decline to participate in PSI. Finally, the Republic’s representative noted that if PSI is not successfully completed, the official sector will not finance Greece’s economic programme and Greece will need to restructure its debt (including guaranteed bonds governed by Greek law) on different terms that will not include co-financing, the delivery of EFSF notes, GDP-linked securities or the submission to English law…’ Continue reading