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Road to a Grecian turn?

Road to a Grecian turn?

Old Feb 12th 2017, 1:08 pm
  #1201  
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Default Re: Road to a Grecian turn?

Originally Posted by Pulaski View Post
I don't know, but I doubt it.

I hadn't heard that, but a lot ended up as framed artwork to hang on the wall as they were otherwise thought to be worthless.

ETA: You are correct.
As well :

Russia To Pay Off Old Bonds - tribunedigital-chicagotribune
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Old Feb 12th 2017, 1:12 pm
  #1202  
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Default Re: Road to a Grecian turn?

Originally Posted by morpeth View Post
As well :

Russia To Pay Off Old Bonds - tribunedigital-chicagotribune
Still only bonds sold in France. Apparently Czar bonds were popular in France in the immediately pre-revolutionary period, and were held by almost half of all French households.

Digging a little further, there was an earlier settlement with the UK - £46 million was paid in 1986 to redeem British-held Czar bonds.

Last edited by Pulaski; Feb 12th 2017 at 1:22 pm.
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Old Feb 13th 2017, 4:48 pm
  #1203  
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Default Re: Road to a Grecian turn?

Originally Posted by morpeth View Post
Yes, the Russians repaid the bonds issued by the Czarist government - however, what was being repaid was a 'nominal' value, not the true value or 'loses' of these bonds.

The original bondholders still lose out as they paid the face value of the bonds (for example £100) over 100 years ago and lost not only the purchasing power (due to inflation) of the principle (fact value), but also the twice yearly interest the bonds promised until maturity. I am sure that someone with £100 in 1900 can buy more goods from it than £100 in 2017.

Those who 'gained' from this Russian deal are those people who took the risk to buy up what appears to be worthless bits of paper from the original investor for a small sum.
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Old Feb 13th 2017, 4:51 pm
  #1204  
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Default Re: Road to a Grecian turn?

IMF can't cut special deal for Greece but debt solution possible, says Lagarde | Business | ekathimerini.com

interesting.....
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Old Feb 15th 2017, 5:37 am
  #1205  
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Default Re: Road to a Grecian turn?

Originally Posted by Red Eric View Post
Exactly.

Not that they're going to exit.
Are you sure about that?

Ted Malloch: Greece would be better off outside the eurozone | Comment | ekathimerini.com
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Old Feb 15th 2017, 8:18 am
  #1206  
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Default Re: Road to a Grecian turn?

Originally Posted by InVinoVeritas View Post
He is very sure about it but don't ask him to justify his certainty........

He just knows
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Old Feb 15th 2017, 8:22 am
  #1207  
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Default Re: Road to a Grecian turn?

Originally Posted by InVinoVeritas View Post
Ludicrous.

Ted Malloch? Are you serious?
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Old Feb 15th 2017, 5:00 pm
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Default Re: Road to a Grecian turn?

Another bit of bad news for the Euro zone -

Greek economy shrinks between October and December - BBC News
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Old Feb 15th 2017, 5:04 pm
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Default Re: Road to a Grecian turn?

Originally Posted by HKG3 View Post
Another bit of bad news for the Euro zone -

Greek economy shrinks between October and December - BBC News
Yes saw that and was very surprised as they had seem to have got the economy moving in the right direction.
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Old Feb 19th 2017, 12:19 pm
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Default Re: Road to a Grecian turn?

I saw this today and thought it was as good a summary of the Greece Problem as I have seen.
Notwithstanding Greece’s own faults, which are many, the EU has in many ways inadequately responded to the Greek crisis. Greece’s debt problem was not dealt with on time until it had become too big to handle. Then, when the situation was "too big to fail", the EU’s wealthier countries chose to save their banks, which had lent money to Greece.


The crisis in Greece was defined by its international creditors as a liquidity crisis, whereas in reality the country suffered from perennial macroeconomic faults such as a bloated public sector, lack of competitiveness and governance.

There is no doubt that the Greeks are to be blamed for reaching the tip of the debt cliff, but the recipe provided to fix the debt problem was faulty and never tested before. And as Greece is facing an ever-increasing crisis with no end in sight, there is greater incongruity between the EU and the IMF, which are both responsible for offering economic and technical assistance to Greece.
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Old Feb 21st 2017, 9:33 am
  #1211  
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Old Feb 21st 2017, 3:53 pm
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Default Re: Road to a Grecian turn?

Originally Posted by Red Eric View Post
many a true word spoken in jest...
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Old Feb 23rd 2017, 9:29 am
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Default Re: Road to a Grecian turn?

https://www.neweurope.eu/article/lag...aircut-needed/

It looks like the IMF are rolling over and going with Germany.....
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Old Feb 23rd 2017, 5:28 pm
  #1214  
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Default Re: Road to a Grecian turn?

Originally Posted by Garbatellamike View Post
https://www.neweurope.eu/article/lag...aircut-needed/

It looks like the IMF are rolling over and going with Germany.....
So the austerity will continue until the economy improves.
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Old Feb 23rd 2017, 5:53 pm
  #1215  
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Default Re: Road to a Grecian turn?

Originally Posted by Pulaski View Post
So the austerity will continue until the economy improves.
kicking the can down the road again
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