ECB members are throwing cold water on taking a haircut on Greek debt-declaring it forbidden under the Central Bank Treaty. The public spat seems to be intensifying amongst EU heads about what to do with Greek debt ahead of the Euro-officials meeting next Tuesday November 20. There is an increasing call for the public debt holders to take a ‘haircut’ on Greek assets. The single unit has been held hostage, within a tight range, on whether Spain ‘will or wont’ ask for aid.
The squabbling on how to make the Greek debt manageable is holding up the next tranche of +EUR31b in emergency loans that Greece so desperately needs. The IMF chief is currently enroute to the Euro-group meeting in Brussels, cutting short her Asian stay. Lagarde states that it’s not over until the “fat lady sings”-let’s hope she was not getting personal.
- Draghi Calls EUR an incomplete solution
- Moody’s warns UK it could lose AAA rating
- Eurozone Officially in Recession After Negative Growth
- Official: Europe in Recession Again
- UK Jobless Rate Declines to 7.8 percent
- UK Retail Sales Fall More than Expected in October
- Greek Migration to Germany increased by 80 percent
- Europe Protests!
- Foreign Investments Purchases driving GBP higher
- Greece needs another +EUR32b If Target Moved
- Spanish PM Looks to Rush Through Changes
- Greece move 1 step closer to receive Bailout Aid
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