COUNTDOWN TO EUROGEDDON: GREECE TO DEFAULT ON €1.6 BILLION IMF DEBT REPAYMENT AT MIDNIGHT WASHINGTON TIME

[WestVirginiaRebel]

Breitbart:

LONDON, United Kingdom, 7.30pm – The stakes are high as at time of writing a last minute deal between Athens and its creditors still appears impossible to reach. In the absence of a deal before midnight Washington time, the country will default on the €1.6 billion debt repayment to the International Monetary Fund (IMF) due tonight risking a domino effect of cross-default clauses and the biggest sovereign bankruptcy in history.

 

The Greeks have just requested another bailout deal from the eurozone, asking for a new two-year €29.1 billion deal to cover its debt repayments until the end of 2017 from a bailout mechanism for eurozone countries. Eurozone finance ministers will discuss it in a teleconference this evening.

 

EuroActive.com reports that having already received nearly €240 billion in two bailouts from the EU and IMF since 2010, Athens will lose much needed €16.3 billion funds in the form of three financing sources. Officials said:

 

“Once it’s gone, it’s gone […] What disappears is 16.3 billion euros. What disappears is the [European Financial Stability Facility] tranche, €1.8 billion, the [securities Markets Programme] profits, and the remaining amount that had remained from the [Hellenic Financial Stability Fund] buffer, that’s just over €16 billion.”

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The beginning of the end.

[Valin]

https://www.youtube.com/watch?v=6UUTfw8fg0M