Greece" "Hard default imminent"

From Mike Ruppert:

A "hard" default is what has also been labeled as a "disorderly" default. And yest, it is inevitable. It will puncture the bubble globally and wreak havoc. Increasingly, the EU demise is provoking discussion of armed conflict including military coups d'etat, inside Europe between what will be former EU states.  

In the meantime Greek creditor banks are balking at even the smallest haircut on their demands for debt service payments that cannot be physically satisfied. We have details on the World News Desk. -- MCR

Greek 1-Year Bond Yield Tops 408 Percent; Hard Default Appears Imminent

Mish's Global Economic Analysis,
13 January, 2012

In conjunction with a "Pause for Reflection" and stalled talks by Greece Bank Creditor Group over the benefits of further "voluntary" cuts on Greek debt, yield on 1-year Greek bonds soared over 400%.

A hard default appears imminent

And Now "Coercive" Greek Default Seems Inevitable -Deal Failure Would Be "Catastrophic" Greece Warns

Zero Hedge,

13 January, 2012

Just like the imminent French downgrade, nobody could have possibly anticipated a few hedge funds blowing up the Greek bailout. Oh wait - we did... in June.

• GREEK BOND SWAP NEGOTIATORS NOW LESS OPTIMISTIC ABOUT REACHING A DEAL - SOURCE CLOSE TO TALKS

• GREEK BOND SWAP NEGOTIATORS WARN FAILURE TO REACH DEAL WOULD BE CATASTROPHIC FOR GREECE, EUROPE - SOURCE

• IIF SAYS GREECE TALKS `PAUSED' AFTER NO `CONSTRUCTIVE' RESPONSE

• IIF SAYS GREECE TALKS HAVEN'T PRODUCED `CONSTRUCTIVE' RESPONSE

• IIF SAYS TALKS ARE `PAUSED FOR REFLECTION

But the IIF just told us yesterday how things are going swimmingly. Maybe that is not all that surprising...