...I am fed up with local journos and TV hacks reporting that my homecountry, of Greece, is saved. Albeit theoretically. A staggering 21% of the population is officially-read again... officially, actual numbers are higher- unemployed, that passes a staggering 50% in ages under 25, rising crime rate, real money deficit 14%-15%, money deficit in statistics numbers-by the bureaucrats of EUROSTAT-10%, a country in default).
THE GRAND TOTAL OF 130 BILLIONS IN SWAP BONDS (WITH A HAIRCUT OF 53.5%):
(1) 30 BILLIONS GO TO THE OLD BONDHOLDERS.
(2) 35 BILLIONS ΓΟ TO THE BANKRUPT GREEK BANKS IN EXCHANGE FOR GOVERNMENT-OWNED STOCK.
(3) 5 BILLIONS IN INTEREST.
(4) 60 BILLIONS TO RE-FINANCE DEBT, OLD LOANS-NOT STATE DEFICIT, UNTIL 2020 because nobody is going to give you (GREECE) a loan, since you are in DEFAULT.
(2) 35 BILLIONS ΓΟ TO THE BANKRUPT GREEK BANKS IN EXCHANGE FOR GOVERNMENT-OWNED STOCK.
(3) 5 BILLIONS IN INTEREST.
(4) 60 BILLIONS TO RE-FINANCE DEBT, OLD LOANS-NOT STATE DEFICIT, UNTIL 2020 because nobody is going to give you (GREECE) a loan, since you are in DEFAULT.
THE PSI DOES NOT COVER THE GREEK STATE DEFICIT, ONLY RE-FINANCES OLD LOANS.
GREEK STATE DEFICIT IS GOING TO REACH THE 330-340 BILLIONS BY THE END OF 2012. WHO THE HECK IS GOING TO FINANCE THE STATE DEFICIT ? THE BANKRUPT GREEK BANKS ? OF COURSE NOT. THE EUROPEAN UNION ? Certainly not. Greece, very possibly, is going to experience either a revolution in May, “a May spring”, or default and return to old drachma, change currency, by the end of June, with devastating consequences.
