A question. If Grecía remained in the Euro, is there anything that guarantees us that it will not be necessary to disburse more money or, if so, that the money already disbursed will be returned in full or in part? If we are facing a bottomless pit, perhaps it is better to retire and assume the losses rather than continue to put money in and increase them.
The debt will be restructured and there will be a take-off
That is € 32,000 M, when the national bank-real estate rescue has cost € 200,000 M, according to sources in this blog. In the end the debt will be restructured and there will be a take-off, as in the syndicated loans to the Good Finance.
But not 100%.
Here there were 600,000 M € in loans to the Sector (30% or more delinquencies), and more than one billion euros in mortgage loans to individuals (5-12% delinquent). Some of us continue to pay religiously, and others are insolvent (they should never have borrowed that money – and for this reason there is no director of risks or bank offices in jail -) That each one holds his candle.
I do not understand
What is that of 18113 million in “loan guarantees of the European Financial Stability Fund”? Ok, a guarantee is that I pay if Greece can’t pay but … Who is paid? Who is that famous European Fund that will not assume any loss?
Well, it seems that they are, as always, private banks, which buy the bonds issued by that European entelechy. Those are the ones who should bear the losses! Not the citizens. Bondholders charge interest because they are supposed to take risks, right? Well, assume it at once!
Public debt in Greece has grown in the second quarter of 2016 by 6,201 million euros and stands at 315,292 million. This figure assumes that the debt reached 179.20% of GDP in Greece, while in the previous quarter, first quarter of 2016, it was 176.10%.
The Spanish Government has estimated at about 26,000 million euros the exposure that Spain has in Greece, both in bilateral loans granted to the Hellenic country, as in the guarantees and contributions made to the rescue programs implemented by the European Union (EU) ).
This figure represents around 2.78% of Spanish GDP
According to a report published by Bloomberg citing sources from the Greek Ministry of Finance and the European Commission. According to this report, Spain is the country that most affects default as it is the one that has lent the most money to Greece with respect to its GDP. Germany, France or Italy, countries that, together with Spain, have left Greece the most, would not be so affected since the difference between borrowed and their GDP is smaller.
The Minister of Economy, Luis de Guindos, insisted on numerous occasions that those 26,000 million borrowed from Greece directly computed as Spanish public debt: “It is approximately what is spent in one year in unemployment benefits Spain with a 26% unemployment” , has come to specify De Guindos.
Among the four partners that have lent the most to Greece, Spain is the one that most affects default as it is the one that has left the most money with respect to its GDP.