Many Parties Have Yet To Sign Off On Greek $173B Bailout

A plan has been laid out to help Greece and the worldwide ponzi continue to print money and pile on debt, but by no means is the deal complete. Those who’s actions a deal is dependent on are:
  • Private investors holding Greek debt: The Institute of International Finance (IIF) is supposedly representative of private investors and the IIF will have a full committee review the details and make a decision. However, the IIF does not bind all private investors to an agreement. Gaining 95% of private investors to accept write down of 53.5% on the face value of Greek government bonds is what’s being deemed acceptable for the agreement to pass. Here’s more on the role of the private investors at CNN Money.
  • European Union members: Per CNBC -
Analysts at Nomura Securities questioned whether Finland and Denmark in particular would sign on.
“The fact that the agreement was reached is a positive development in that it prevents an immediate disorderly default,” Nomura said. “However, the deal still needs to be signed by euro-area parliaments. It is not a done deal and there is significant risk surrounding the Finnish and the Dutch vote.”
  • Greece: Within 60 days, the constitution must be amended to give priority to debt repayments over the funding of government services. Greece will vote Wednesday on accepting the bailout.
Likely more of the same dance between a bailout deal being completed and the deal falling apart will resume as these “minor” details get ironed out. But when the March 20 payment comes due, it will probably get made because of the severe consequences of a Greek default.

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