Greek Default date. 25th March 2012

A blog called the "slog" claims to have secret documents detailing the date that has been agreed by bankers to bring Greece to its knees and force a default.

Greek Default day has been set for Monday 25th march 2012.

The document asserts that Greece will officially be declared in default by all the ratings agencies after the close of business on Friday march 23rd . At the weekend all Greek bank accounts will be frozen, with emergency measures detailed to prevent the flight of capital. Included in the paperwork is a list of very limited exceptions to the ‘no withdrawals’ order. All major banks ‘are instructed not to deal with euro exchange as of open of business in Greece on Monday 25th march. All Greek markets will close for one day ‘at least’.

hat4uk.wordpress.com...

It is one way out of this mess. Greece drops out of the EU as a result of the economic strike which is an act of war. Greece will then have to dust off and start up the old printing presses to keep society going and regain its national political power back. With Greece the test case for the other EU economic problems going on, the result will lead to a reduction in EU power.

Originally posted by kwakakev
It is one way out of this mess. Greece drops out of the EU as a result of the economic strike which is an act of war. Greece will then have to dust off and start up the old printing presses to keep society going and regain its national political power back. With Greece the test case for the other EU economic problems going on, the result will lead to a reduction in EU power.

I think it is terrible. We need to rise up and take back our governments. Let all the Banks fail and end capitalism once and for all. It failed.

The date is March 20...

Maybe these documents are real, we'll see.

reply to post by bluloa


Red Herring?

It would make far more sense for this information to be *ahem* "leaked" with specific dates listed being later than the actual date on which something like this is planned. Humanity is rife with procrastination... If you send someone a document stating "Your bank account will be locked on March 23rd, better get your money out beforehand." the majority will wait until March 22nd to pull their funds. The same holds true here. I would say we will know the veracity of this document by March 16th.

Credit Suisse The Sequel: "Probability Of The Largest Disorderly Default Loss In History On March 20 Has Increased"

A week ago we presented an excerpt from Credit Suisse's most excellent piece "The Flaw" - merely the latest in one of the best overviews of the neverending Greek soap opera by William Porter. Yet every soap opera eventually ends. Although when it comes to Nielsen ratings, the denouement is usually a whimper. In the case of Greece, it will be anything but. Yet listening to the daily cacafony of din from Europe's leaders, who are likely more clueless than the average reader as to what is really going on, one may be left with the impression that there is a simple solution to the problem, and Greece may be "saved... in hours." It can't. In fact, as of today, Porter's s conclusion is: "we are left with a sense that the probability of delivering the largest default loss in history in a disorderly way on or before 20 March has increased relative to doing so in an orderly way."

As a reminder, Credit Suisse was the one smart enough bank which chose to completely ignore day to day newsflow out of Greece as it is literally noise with absolutely no signal. Wish we could say the same for FX traders. As such, CS' "view remains that, in any case, the chance of a disorderly outcome after 20 March is high, so to that extent the immediate events are not really central to our view, but of course are fascinating."

Very bullish... NOT.

Originally posted by Vitchilo
Credit Suisse The Sequel: "Probability Of The Largest Disorderly Default Loss In History On March 20 Has Increased"

A week ago we presented an excerpt from Credit Suisse's most excellent piece "The Flaw" - merely the latest in one of the best overviews of the neverending Greek soap opera by William Porter. Yet every soap opera eventually ends. Although when it comes to Nielsen ratings, the denouement is usually a whimper. In the case of Greece, it will be anything but. Yet listening to the daily cacafony of din from Europe's leaders, who are likely more clueless than the average reader as to what is really going on, one may be left with the impression that there is a simple solution to the problem, and Greece may be "saved... in hours." It can't. In fact, as of today, Porter's s conclusion is: "we are left with a sense that the probability of delivering the largest default loss in history in a disorderly way on or before 20 March has increased relative to doing so in an orderly way."

As a reminder, Credit Suisse was the one smart enough bank which chose to completely ignore day to day newsflow out of Greece as it is literally noise with absolutely no signal. Wish we could say the same for FX traders. As such, CS' "view remains that, in any case, the chance of a disorderly outcome after 20 March is high, so to that extent the immediate events are not really central to our view, but of course are fascinating."

Very bullish... NOT.

I digress, it will likely beat expectations and hence, markets will skyrocket on the positive news!!!!!

reply to post by surrealist


Yeah probably...

The markets are so insane it's very possible.