nanarchy said:
Teeqoz said:
They haven't actually defaulted yet. They're in arrears because they missed an IMF payment, but the definition of a default is misding payments on debt credited by private investors. Now let's see if Greece can pay back the 2 billion € payment to the private investors that's due 15th of july. My bet is they can't, but until that happens they have NOT defaulted, and if media says otherwise it's to get those valuable clicks. If they vote yes in the referendum they will get a bailout, but the "sanctions" to get the Greek economy up and running (who the hell has made it what it is now?) will be enforced with an iron fist. |
yes and no, not paying the IMF yet strictly speaking isn't a default. BUT it triggers ones as the ECB and IMF have frozen further funding for the banks which mean they can no longer pay debts, default should occur well before 15th July if they don't find more funding, the 2 billion on 15th is just a final nail in the coffin.
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.....Unless they vote yes in the referendum and this gets emergency economic support from the EU.
