Grexit Coming - How they Will Save Face

[AdvancingTime]

It is likely Greece will soon exit the Euro-zone, but do not be surprised if it is done under some new or politically correct moniker that puts the action under the most positive light possible. One way to re-frame this is not to view it as a bailout but as “humanitarian aid”. Two things are apparent, this soap opera is far from over and that Greece remains a money pit or "black-hole." This has generated suggestions that Greece take on a new "quasi membership" status of half in half out.

Keep in mind the fact Greece is totally broke and that just because Greece defaults does not mean the debt suddenly vanishes. All dept is not created equally and lawsuits and disputes will rage on for years maybe even decades. Yes, write offs will be made and the balance sheets of those holding the debt will feel the blow, but the carnage will play out over time rather than be immediate. While people point out Greece is a small country and a small part of the Euro-zone it has a massive amount of dept, and debt does matter!

Make no doubt about the fact this makes no practical difference because a series of back-hand deals has already transferred the debt to the people of Europe. The real issue now before politicians and bankers is how to create the illusion this doesn't matter and minimize both the blame and the fallout. More on this subject in the full article below;

http://brucewilds.blogspot.com/2015/07/grexit-coming-how-they-will-save-face.html

 

[PredFan]

Blame Bush?

 

[EdwardBaiamonte]

It is likely Greece will soon exit the Euro-zone, but do not be surprised if it is done under some new or politically correct moniker that puts the action under the most positive light possible. One way to re-frame this is not to view it as a bailout but as “humanitarian aid”. Two things are apparent, this soap opera is far from over and that Greece remains a money pit or "black-hole." This has generated suggestions that Greece take on a new "quasi membership" status of half in half out.

Keep in mind the fact Greece is totally broke and that just because Greece defaults does not mean the debt suddenly vanishes. All dept is not created equally and lawsuits and disputes will rage on for years maybe even decades. Yes, write offs will be made and the balance sheets of those holding the debt will feel the blow, but the carnage will play out over time rather than be immediate. While people point out Greece is a small country and a small part of the Euro-zone it has a massive amount of dept, and debt does matter!

Make no doubt about the fact this makes no practical difference because a series of back-hand deals has already transferred the debt to the people of Europe. The real issue now before politicians and bankers is how to create the illusion this doesn't matter and minimize both the blame and the fallout. More on this subject in the full article below;

http://brucewilds.blogspot.com/2015/07/grexit-coming-how-they-will-save-face.html

and your point is??