too bad this thread was decent until nexus kinda just rage sperged while flailing his hands

then ofc the last page of brutal pubbdown

it was good while it lasted - here comes the train

i am worried about soldat's feet now. please wear shoes.

Nexus was fine. Please refrain from being moronic. Tia.

this is the kind of despotic and vaguely stupid moderation i had in mind when i appointed a junta

Committee resolved unanimously that a Restructuring Credit Event has occurred with respect to Greece.

cds buyers gonna get paid, it's a default, and functionally a tax on the entire ez.

"default is out of the question" – Trichet
"there will be no default" – Rehn

yeah, so basically Greece writes off 100 bln worth of debt in exchange for a 130 bln help package, effectively adding 30 bln more debt to its bill

out of the 130 bln, 25 bln goes to greece, the rest to creditors

regarding CDS, to make a parallel Lehman had $7 bln in CDS outstanding which ended up requiring $20 trillions bail-outs, Greece has $3 bln

hi taxpayers hi

disregarding the fundamental problem of the euro itself, the more looming one now will be the fact that private creditors are no longer the major ~stakeholder in whatever happens to Greece next, putting them under even more control of the troika or whoever is the majority bondholder now

I don't think the major stakeholders will be able to do much anyway.

The way greeks are resisting (save the Athens burning and looting much like what happened in London) is by not working, not paying taxes and living on black market.

Which is a natural process and will get worse, there is already only 30% of the entire population that has a permanent job.

So my take is that they will try to seize the gold, maybe even all the pensions, and then let it collapse.

Meanwhile the scheme is ECB (taxpayers) is lending hundreds of billions to an insolvent nation (Greece) so it can reimburse private parties

When Sarkozy, who has pushed so hard (even by revoking a referendum decision) in favor of Europe now says that the Schengen Agreement will have to be remodeled quickly or France will get out of it, you know it has entered its terminal phase and "rats are leaving the sinking ship" as we say here.

pretty sure that is just pre-election posturing m8er?