Today is Sunday, March 4th..
Supposedly in 16 days (or less) if all goes well, Greece will officially be in default, and this whole deeply-annoying 3 year longwinded Grecian drama of 'will it or won't it' will come to an end Finally.
Of course there's always a chance deeply evil people who hold power in politics or finance will conjure new tricks and schemes to keep the cracked Greek 'plates' spinning. So while normally we should be able to declare with ipso facto Certainty that default will occur, we just can't... been burnt too many times.
Its also hard to feel confident when no one will ever admit failure publicly.
Take Charles Dallara, Head of the Institute of International Finance (IIF)-- Here's what he had to say last night concerning negotiations for investors to accept bond swaps from Greece at 70% losses, a condition for Greece to receive half the euro bailout: "(Dallara) expressed confidence on Saturday that a bond swap deal which is a key part of Greece's bailout program would be completed successfully next week. "We can sense in our discussions with investors that momentum is building. I'm quite optimistic that the participation levels will be quite high," he said, but he declined to predict a figure." (Reuters)
Bummer.. Looks like Greek default will be averted..
Greek default looms as voluntary debt deal looks set to fail-- "European leaders are braced for the eurozone’s first ever sovereign default this week as Greece’s efforts to secure a €206bn (£172bn) “voluntary” bond swap looks increasingly unlikely...
They are using the threat of no one getting repaid unless the swap is agreed to. Greece needs around 95pc of its private creditors to accept the deal by the deadline on Thursday in order to secure its €130bn international bail-out package and avert imminent bankruptcy.
And those who protest-- How far were they really willing to go to fight for their nation? Strikes? Protest marches? Vandalizing private-owned businesses? Amazing after all this time, there was no real organization to go after government and banking leaders; to specifically target those destroying their lives as well as future generations.