The Troika is set to blink and approve the next €31B tranche of Greece's bailout despite...

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Eighthman Comments (207)
 
So, there are no standards in this, right? No hard goals to be met by Greece ? They fail and fail and fail but get the cash anyway.
30 Sep 2012, 09:30 AM Reply Like

Teutonic Knight Comments (1869)
 
I don't think the Greek people ever see much of the tranche. Much of the money hardly lands on Greek soil and would then swiftly embark on a round trip back to the Troika's pocket. In accountant's speak, the lender is just releasing more loans to pay itself the minimum interest due - - in other words, a bookkeeping process.

What is the lien or collateral? Anyone knows? Please?
30 Sep 2012, 11:02 AM Reply Like

Herr Hansa Comments (2919)
 
Need to watch Finland for an idea of collateral. That was the only county demanding collateral on the last tranche. So far nothing specific has emerged, though FT Alphaville continue to dig into this.
30 Sep 2012, 02:31 PM Reply Like

untrusting investor Comments (9879)
 
TK,
Exactly correct. The vast majority of any bailout money simply is recycled back to the EU to repay previous Greek loans. Hardly any of the bailout money actually enters into the Greek economy. Effectively it just increases the overall Greek debt replacing old debt with newer debt plus interest.
30 Sep 2012, 02:51 PM Reply Like

robgra Comments (317)
 
Don't worry, once Greece has bled the rest of the EMU into collapse, they'll finally leave the EMU...
30 Sep 2012, 09:54 AM Reply Like

American in Paris Comments (4698)
 
Greece will be cut loose at some point, but do it in the middle of a recession engulfing Europe and a Chinese slowdown would be stupid.
30 Sep 2012, 02:57 PM Reply Like

winningtrader Comments (2268)
 
Greece is likely to leave the EUR. This is likely to happen after the US elections because Obama has asked Europe to delay any problems till after the US elections. So, the Europeans and IMF will pay this tranche of the money but then things will get ugly after November.
The fact that Obama has asked the Troika to delay any tough decisions was leaked by European politicians.
30 Sep 2012, 05:50 PM Reply Like

ByloSelhi Comments (172)
 
Hi winningtrader. Have you got a link to the report about Obama asking European leaders to delay actions? I would like to read that (those) reports and investigate the sources. Thanks.
30 Sep 2012, 11:24 PM Reply Like