Wednesday 8 February 2012

Greece: "I'll lend to you if you give right back to me'


Hey, you can go swap yo mamma's ass for a hamburger, but you ain't never gwain to fix dis. All you doin is buying time to get your collapse shit together, motherf---ers.
My inner negro is out tonight. I've seen better shuck and jive in "the Jungle" in L.A. It's a veritable three-ring circus on the World News Desk, even while tragedy is striking hundreds of millions of people around the world. When is enough?  
-- MCR

No doubt there will be plenty on this from Mish!
I think they're scared shitless!

ECB to swap Greek bonds for EFSF bonds -- report
By Christopher Noble


7 February, 2012

SAN FRANCISCO (MarketWatch) -- The European Central Bank has agreed to exchange Greek bonds it bought last year for bonds of the European Financial Stability Facility, the euro zone's temporary rescue fund, the Wall Street Journal reported Tuesday, citing anonymous sources. The exchange won't take place unless Greece's debt restructuring talks end successfully, the paper reported. The ECB won't make a loss on the swap but details of pricing were not known, the paper reported. The paper said analysts estimated the exchange could reduce Greece's debt by as much as 11 billion euros ($14.6 billion).


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