Will there be a Grexit?

[darmstadt]

Why can't the Greeks just start printing Euro notes?

They already do: The Banknote Printing Works of the Bank of Greece (IETA)

[minestrone]

De La Rue could print up the entire nations cash in a few weeks.

To be honest the whole process is willy waving until they get their debt reduction, turning up last night with the hotel pad was deliberate. You can guarantee at some point designs for a new drachma will be 'leaked' encouraging high tempo waving of willies for a few days.

The Greek government may not know how to run a country very well but they know how to make the Germans suffer and are probably enjoying all of this.

[PurpleGorilla]

DLR have it printed ready to go - be in no doubt.

[Zero Liability]

Think this summed up the current impasse quite well, including Obama's laughable comments regarding sustainable debt reduction - how's that going in the US?

Europe is blowing itself apart over Greece - and nobody seems able to stop it - Telegraph

[darmstadt]

DLR have it printed ready to go - be in no doubt.

Might have been a bit premature: De La Rue shares dive as profits fall - BBC News - De La Rue could be bid target, says broker | Business | The Guardian

[PurpleGorilla]

From memory a bloke from DL R was on the radio 5 years ago swing they had pallets of drachma ready to go.

[BrilloPad]

I thought this had to be resolved by last night?

FFS just make a decision. Toss a coin.

[PurpleGorilla]

I predict a riot.

[barrydidit]

So what's the deal? 50bn of 'assets' sold, 37.5bn to fund debt repayments and 12.5bn to fund spending?

Are they getting the cash immediately and then selling the stuff later?

And, unless they've stretched out the maturities for the debt indefinitely, isn't this just another hoof of the can?

[tomtomagain]

So what's the deal? 50bn of 'assets' sold, 37.5bn to fund debt repayments and 12.5bn to fund spending?

Are they getting the cash immediately and then selling the stuff later?

And, unless they've stretched out the maturities for the debt indefinitely, isn't this just another hoof of the can?

Well it seems like the Greeks have just been told to shut up and take it. And take a tougher dose than was on offer before they foolishly voted "No" but claimed they wanted to remain in the Euro.

The Germans started floating this idea of Greece having a "Time-out" of 5 years outside of the Euro. Which I interpreted as : "You will do as we say or we are throwing you out".

Apparently they have to pass into law some of the changes before Wednesday as a prerequisite to completing the 3rd bailout - in other words the Germans have completely lost trust in the Greeks ( they like people who will say what they will do and do what they will say ) and wont be giving them a single cent until they see that tough new changes are being rolled out.

Syriza has taken the country over the edge but doesn't have the balls to leave the Euro. It has just lost a game of chicken with the largest economy in Europe. Badly.