It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Plans Revealed for Greek Default on March 23

page: 1
3

log in

join
share:

posted on Feb, 22 2012 @ 12:28 PM
link   
what do you think of this article ATS?

is the bubble finally going to burst on March 23?

I for one think this is inevitable.

Wether the default will be on March 23 or not, the default will happen.

It's like pumping money into a bottomless pit. (this is not to offend any Greeks because they can't do anything about the situation)

I think it will happen and at first it will suck for the people of Greece but i think they're better off without the EU.

Just like we were better off 15 years ago.


Writer Bruno Waterfield’s claim that Germany has drawn up plans to deal with the inevitable Greek default was published in the British newspaper The Telegraph a little after 8 p.m. Saturday night. Within hours his claim was confirmed separately by blogger John Ward with times, dates, and consequences all spelled out by those drawing up the plans.

German Finance Minister Wolfgang Schauble has increasingly voiced his opinion that the economic implosion taking place in Greece would result in its bankruptcy despite official protestations to the contrary from German Chancellor Angela Merkel. One official close to Schauble said, “He just thinks the Greeks cannot do what needs to be done. And even if by some miracle they did what has been promised, he ... [is] convinced it will not pull Greece out of the hole.”

Schauble’s opinion gained increasing credence by a report issued last week by the European Commission, the European Central Bank, and the International Monetary Fund (EC, ECB, and IMF — the “troika”). According to their report, even if Greece were successful in accomplishing all that it has promised in order to secure the next round of financing, it will still fall far short of bringing down its debt load to manageable levels. Waterfield went on to say that Schauble, behind the scenes, is pushing Greece to declare itself bankrupt and demand a 70 percent “haircut” from the banks holding the bulk of its debt.



Ward’s separate and reliable sources told him that there will be “an inevitable Greek default some time in the third week of March 2012.” His anonymous source told him that there is nothing in writing, and the meetings to plan for the Greek bankruptcy were few in number and lightly attended. But the firm date is Friday, March 23, after which Greece will be officially declared in default by the credit rating agencies. All bank accounts will be frozen over the weekend with no withdrawals allowed. All Greek financial markets will be closed for at least one day, perhaps longer.



Despite Merkel’s continued insistence that Greece will stay in the eurozone and that the next round of financing will proceed as planned to keep Greece afloat for another few months, banks are continuing to unload risky securities and moving into dollars and U.S. treasuries.

Slavo has issued a disclaimer:

“While the sources for the above report are as of yet unconfirmed, and no copies of it have been made available, if true we will likely see bits and pieces emerge over coming weeks.” He added,


DISLAIMER


There have been false alarms in the past and we won’t deny that this may be one of them. But we’re of the view that when a smoke alarm goes off, we evacuate first and substantiate it once we’re out of harm’s way. The alternative is that you end up trapped in a burning building.


source
edit on 22-2-2012 by kn0wh0w because: (no reason given)




posted on Feb, 22 2012 @ 03:18 PM
link   
bump



new topics
 
3

log in

join