‘With that, this coming March 19th, Euroland rearranges the deck chairs. A heads up, to see if the banks have everything under control or not in the coming days.’
is this the date that greece will miss their debt payment
Yes, that is the date some old bonds get exchanged for new bonds as part of a work around and the remaining 10% or 15% of outstanding bonds due, actually default. It’s the credit default swaps, used as insurance, that will kick in on that 10% or 15% defaulting that is going to cause some pain to banks that wrote them (mainly banks here in the US). Have to wait and see how bad a hit is taken.