Tuesday, 15 May 2012

'Another Big Day In the Unfolding Grecian Tragedy....'


'A few major headlines are leading in Greece today, provoking continued investor wariness. The Athens Stock Exchange is off 0.5 percent so far today.

First, various news sources are reporting that Greece has acquiesced to paying the full value of a �450 million bond denominated in U.K. law which matures today, despite a handful of earlier questions as to whether or not it would come through with the payment.

That decision, though largely expected, signals Greece's willingness to abide by the rules. It is also a fall-out of agreements made in March to go through with a managed debt restructuring, where the majority of bondholders have agreed to voluntary rather than completely coerced write downs.

Right now, President Karolos Papaoulias is meeting with .....'




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