A Very interesting point of view about the German position about debt cutting.
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IMF suggests haircuts, but from Europe only – Il FMI suggerisce il taglio del debito, ma solo dall’Europa
The IMF published an update to it’s report about the Greece debt sustainability today.
They basicly say: our ideas would have worked, but after the referendum you messed everything up. The new situations gives you three choices: maturity extension of 30 years, annual transfers to the Greek budget or deep upfront haircuts (choices up to Europe, of course).
What if the IMF started to cut some of the 78 rates that are due from here to 2024 (see list below)?
By the way, please note that the rate that Greece could not pay was due to the IMF, not to Eurozone creditors.
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E’ stato pubblicato oggi un aggiornamento del Fondo Monetario Internazionale relativo alla stima dello stesso FMI sulla sostenibilità del debito pubblico greco.
In pratica il succo di questo documento è il seguente: le idee che avevamo espresso nel nostro rapporto sulla sostenibilità del debito greco pubblicato prima del referendum avrebbero funzionato, ma ora avete incasinato tutto e per colpa vostra non funziona più. La nuova situazione vi offre tre scelte: estendere il periodo dei rimborsi per altri 30 anni, versare annualmente denaro nelle casse greche o tagliare il debito (quello dovuto all’Europa, beninteso).
E se iniziasse il FMI a tagliare qualcuna delle 78 rate che deve incassare da qui al 2024 (vedere l’elenco in basso)?
A proposito, si noti che la rata che la Grecia non ha potuto ripagare era dovuta al FMI, non a ceditori dell’Eurozona.
IMF June 30, 2015 OVERDUE €1,563,917,156
IMF July 13, 2015 €457,731,851 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Sept. 4, 2015 €305,154,567 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Sept. 14, 2015 €343,298,888 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Sept. 16, 2015 €572,164,813 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Sept. 21, 2015 €343,298,888 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Oct. 13, 2015 €457,731,851 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Dec. 7, 2015 €305,154,567 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Dec. 16, 2015 €572,164,813 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Dec. 21, 2015 €343,298,888 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Jan. 13, 2016 €457,731,851 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF March 7, 2016 €305,154,567 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF March 16, 2016 €572,164,813 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF April 13, 2016 €457,731,851 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF June 7, 2016 €305,154,567 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF July 13, 2016 €457,731,851 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Sept. 7, 2016 €305,154,567 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF Sept. 19, 2016 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 7, 2016 €305,154,567 Loan under the IMF’s first bailout program for Greece, in 2010.*
IMF March 17, 2017 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 18, 2017 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Sept. 19, 2017 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 4, 2017 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 18, 2018 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 31, 2018 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF March 19, 2018 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 4, 2018 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 18, 2018 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 31, 2018 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Sept. 19, 2018 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 3, 2018 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 4, 2018 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 18, 2019 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 31, 2019 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF March 19, 2019 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 3, 2019 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 4, 2019 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 18, 2019 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 31, 2019 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Sept. 19, 2019 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 3, 2019 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 4, 2019 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 17, 2020 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 31, 2020 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF March 19, 2020 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 3, 2020 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 4, 2020 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 17, 2020 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 31, 2020 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Sept. 18, 2020 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 3, 2020 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 4, 2020 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 18, 2021 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 29, 2021 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF March 19, 2021 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 3, 2021 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 4, 2021 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 16, 2021 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 30, 2021 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Sept. 17, 2021 €148,058,591 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 3, 2021 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 3, 2021 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 18, 2022 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 31, 2022 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF March 18, 2022 €148,058,601 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 3, 2022 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 3, 2022 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 18, 2022 €296,117,183 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 29, 2022 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 2, 2022 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 2, 2022 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 18, 2023 €296,117,188 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Jan. 31, 2023 €159,455,853 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 2, 2023 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 2, 2023 €159,455,864 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF July 31, 2023 €159,455,864 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF Dec. 1, 2023 €318,911,708 Loan under the IMF’s second bailout for Greece, in 2012.†
IMF June 3, 2024 €318,911,713 Loan under the IMF’s second bailout for Greece, in 2012.†
Greece said no. So what?
On July 5th, 2015 Greece chose to be an insolvent debtor and the italian morons sing the praises of the victory of Democracy. They exalt Tsipras, democratically elected, but they seem not be able to realize that also the creditor States are ruled by democratically elected persons.
They talk about Greece as the cradle of Democracy, but they have no idea of what the original greek Democracy was (it was the Democracy of the Rich).
However…
Varoufakis earlier, and later Tsipras clearly explained how they intend to go on now: no exit from Euro, no paying the debt as it is and new requests for money to put the greek bank system in order. It goes without saying that the two of them live in Duckburg. I don’t think they will be further allowed to live the life of Riley with other people’s money.
Tsipras, with extreme arrogance, refused every proposal received by the EU (18 countries agreed on the offer made to Greece) and even if he cowardly dumped the responsibility of his fool decision on the shoulders of all the Greeks, now he is in the unsuitable position to make an offer to the EU that is ok for the other 18 countries (as Schulz said).
In the most probable circumstance (which I support) that Greece will be kicked from EU, the worst thing that can happen is that the loaned billions will be lost. Which is in Tsipras’ plan anyway.
Let’s say that Tsipras is in a win-win situation. “No” won the referendum, therefore he must not resign and keeps his position, and instigating the expulsion of Greece from EU he can lawfully raise his hands and say: “You threw me out, now say goodbye to your money”.
Meanwhile the rubles roll.
