Greece to default and cut from Eurozone on March 23?
According to a prominent blog post, written document giving firm dates and detailed actions for a planned Greek default has been in the possession of two top Wall Street bank currency trading bosses since the second week in January.
The document asserts that Greece will officially be declared in default by all the ratings agencies after the close of business on Friday March 23rd . At the weekend all Greek bank accounts will be frozen, with emergency measures detailed to prevent the flight of capital. All major banks would be instructed not to deal with euro exchange as of Monday 25th March.
Reviewing the timeline of the Greek Debt Marathon, the back end of it is pretty obviously one of persistent sabotage from Berlin, Brussels, and the IMF (The Troika).
In the last three weeks, several EU officials have pumped out the line – over and over again – that Greek default is no longer the bogeyman people thought it was….or to be more precise, they told us it was.
First of all Draghi pumps money into the banking system, then the Troika slows everything down. Now awkward facts come to light about the existence of ‘a plan’ which would protect America – by dumping the Greek contagion – and help the eurozone by concentrating the bailout cash available to save the bigger players: Italy, Spain and France.
An unpleasant phrase is doing the rounds in Brussels at the moment: “Amputate and cauterize” (Cauterization being burning part of a body in an attempt to mitigate damage, remove an undesired growth, or minimize other potential medical harmful possibilities such as infections.)
It’s certainly beginning to look like that.