Reply to: The Euro Deal

[Churchill]

I've got it!

You're lying about your positive rep!

Wrong again. One neg and 2 positive for this thread so far.
Keep going.

Nope, I think I'll stick with the above answer.

[sasguru]

I've got it!

You're lying about your positive rep!

Wrong again. One neg and 2 positive for this thread so far.
Keep going.

[Churchill]

I'm sure even a thick twunt* like you will work it out eventually. Try a process of elimination.

*There you go guys. TIA.

I've got it!

You're lying about your positive rep!

[sasguru]

People owe you money?

I'm sure even a thick twunt* like you will work it out eventually. Try a process of elimination.

*There you go guys. TIA.

[Churchill]

That's one possible explanation. But do try again.

People owe you money?

[sasguru]

That the rest of your posts are sh!te?

That's one possible explanation. But do try again.

[Churchill]

Let's just say the easiest way for me to get positive rep is to slag you off.
Now what does that tell you?

That the rest of your posts are sh!te?

[sasguru]

0/10 - lame retort

We're not talking about me, we're talking about you

Let's just say the easiest way for me to get positive rep is to slag you off.
Now what does that tell you?

[Churchill]

I suppose in your Walter Mittyish way you've convinced yourself everyone loves ya baby?
What a deluded twunt.

0/10 - lame retort

We're not talking about me, we're talking about you

[PAH]

once the realization that Greek pensions have been cut in half dawns upon the population, the result will be the biggest riots ever seen in Athens yet

Seeing as it sounds like the whole of Europe is bankrupt (even the UK) apart from a bit of paper printing/shuffling, is it realistic to think that the austerity riots may hook up with the Occupy 'movement' and things will kick off big time?

Occupy Oakland has already been tear gassed, though strangely there's little coverage on the news apart from that mob outside St Pauls.

Escalation as more austerity cuts come along, yet the culprits in government and finance get away with their cushy lifestyle, seems very possible.

[Mich the Tester]

Somehow I suspect Sarkel and Merkozy are keeping some firepower in reserve instead of doing everything the 'experts' have been calling for because they know that whatever they do there'll be a long line of 'experts' and 'analysts' queuing up to provide their entirely objective opinion that 'it doesn't go far enough'.

[sasguru]

Because you're such an unpopular offensive little turd and nobody likes you I've taken pity on you and bounced your post to the top.

We couldn't have it disappearing without at least one comment, that would be so rude.

I suppose in your Walter Mittyish way you've convinced yourself everyone loves ya baby?
What a deluded twunt.

[suityou01]

Better than I expected, but the ESEF fund is still too low and will have to be topped up.
50% Greek default isn't enough, should have been up to 60%. After this haricut they still have a 120% gdp debt ratio and I can't see how they can ever bring this down.
Meanwhile Italy is making vague noises about austerity and cutting it's 2 trillion euro debt. Yeah right.
Ireland will run out of cash next year.
And I've never understood how Spain paid its way (apart from Catalonia which is economically strong).

Meanwhile the unacknowledged elephant in the room is France with no austerity plans in hand at all.

It was a good hard kick of the can down the road, but I'm afraid it will have to picked up again later.

I'm loving this zerohedge at the minute

Just the math, something Europe is unable to do:

Greece has €350 billion in total debt including about €70 billion in Troika "post-petition" loans; these are untouched.
Of the €280 billion, roughly €75 billion is held by the ECB: this, like the Troika loans, will be untouched.
This leaves just ~€200 billion in actual debt to undergo a haircut.
Apply a 50% haircut to this debt (ignoring the fact that of this about €35 billion is held by Greek pension funds, and once the realization that Greek pensions have been cut in half dawns upon the population, the result will be the biggest riots ever seen in Athens yet).
Total debt to be cut: just about €100 billion.
Hence, of the total €350 billion, just €100 billion is eliminated, most of it used to backstop and service Greek pension and retirement obligations
€250, or the residual, of €350, the original, means 72%, or a 28% haircut.

Greek GDP was €230 billion on December 31, 2010 and declining fast.

And that is how a 50% haircut is "cut" almost in half

[Churchill]

Because you're such an unpopular offensive little turd and nobody likes you I've taken pity on you and bounced your post to the top.

We couldn't have it disappearing without at least one comment, that would be so rude.

Far too kind.

I've turned over a new leaf and promised the Moderators that I'm going to be a good boy.

[scooterscot]

Because you're such an unpopular offensive little turd and nobody likes you I've taken pity on you and bounced your post to the top.

We couldn't have it disappearing without at least one comment, that would be so rude.

Far too kind.