Posted on 03/13/2015 10:24:02 AM PDT by tcrlaf
The Greek liquidity, pardon "cash flow" problems are so bad, not only Zero Hedge, but also Bloomberg has launched a daily maturity tracker of how much money Greece has to pay either to the IMF or to prefund T-Bill rollovers. This is what Bloomberg blasted out earlier today:
Greece is preparing for another week of hurdles that ends with a ~EU2b repayment on March 20. Most economists say that it will be difficult for Greece to get past end of March without fresh EU funds. Here’s a timeline of the most important events scheduled this week:
Monday, March 16: Greece to repay about EU577m in IMF loans Wednesday, March 18: Greece’s debt agency PDMA to sell 13- week treasury bills
Which explains why as we reported yesterday, Greece passed a law to plunder pension funds, one which would allow the government to fully invest reserves of pension funds and other public entities kept in Bank of Greece deposit accounts in Greek sovereign notes.
None of this is news: that Greece will run out of cash absent another check from the Troika, pardon Instituions, pardon creditors, is clear. The only question is what happens after, if Europe indeed leaves Greece hanging.
Today, the Greek media is ablaze with just what Europe's proposed solution to this issue may be. As Protothema and Capital report, the Troika proposed that Athens halt the payment of salaries and pensions for one to two months. This, according to Europe, would promptly tackle the problem of liquidity and find a solution to Greek problem of how to pay back bailout loan tranches to creditors when suffering from liquidity problems.
(Excerpt) Read more at zerohedge.com ...
“Promise people free stuff, and most will gladly vote away their freedom.”
That’s one promise. The other essential promises are
2) For those working and raising families, the promise of “safety”. If you don’t 100% support DHS and its family of govt protections, then the safety will be removed. One “terrorist” attack and the regular middle class folks will scream for help from the GOV. And those that oppose DHS/GOV will be attacked worse than child rapists.
3) Promise “Equality” via social justice/change. This appeals to all the malcontents/racists/perpetually offended/white guilt/identity groups. Have to appease these important demographic.
These 3 are the new pillars of America.
Yah, say ya want a revolution....well, ya know...
they'll do anything , ANYTHING at all to keep their promised pensions....
people say that our military won't turn on American citizens......people had better smarten up because they will....they'll attack us in an instant....
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.