Greece Misses Bond Buyback Targets, Looks to Get Bailout Anyway
The results of the Greek bond buyback program are in. Perhaps unsurprisingly, the Greek government has been unsuccessful in meeting its targets. The Greek government had hoped to buy back 31.9 billion euros worth of bonds at a reduced rate with 10 billion euros. However, the Greek government asked lenders for an additional 1.29 billion euros after it became clear that the target was not going to be met.
The International Monetary Fund had said that the next bailout installment was conditional on the successful completion of the buyback program. However, despite the Greek government failing to meet its targets IMF chief Christine Lagarde is pleased:
I can only welcome the results that have been produced by the debt buyback,
If Greece is to receive aid from other countries sticking to conditions should be the least that is demanded of its government. Lenders have already granted Greece an extra two years to implement austerity measures. It is looking increasingly likely that the rules and conditions set by lenders means little to the Greek government. But why should Greek officials struggle to implement conditional polices? They seem to be getting aid regardless.
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MOREL HASURD
Is that some kind of warning not to eat the mushrooms?
No, that would be NO CHANTERELLE.
It is looking increasingly likely that the rules and conditions set by lenders means little to the Greek government.
Wait..wha…well, I…pffff…well…geez. I don’t know what to think. That’s so unlike the Greeks.
It’s like permissive parents letting the kid wreck the car over and over again, and, instead of not letting him drive, keeps buying him a new vehicle.
It is worse than that. The Greeks owe them so much money they have no choice. If the Greeks default, the Italians and Spanish will follow and the entire European banking system will go with it.
Like I’ve said before, Germany should just foreclose on Greece and rent it out.
But would that truly offer a “Final Solution”?
Actually i was hoping Greece would rent out 10,000 soldiers to the brother of the Emperor of Persia for an invasion Turkey and Iraq.
Come on. They’re trying. Give’m a few bucks and they’ll get on the right track after this rough patch.
Now thats what I am talking about dude. WOw.
http://www.AnonSurfit.tk