F Dominicus Blog

A politically incorrect blog about matters of money, government, bureaucracy, freedom and sometimes something else.

Greece again X

I guess this will get an ever-green in this Blog.

A few days ago it was again "next payday". This time the program is "really" nice. EU has given Greece money to buy back their own bonds. Well that has a kind of new factor in it. The Greek debts were issued as usually with 100 % and now it's somewhere between 20 - 40 %. So not it's cheap for the Greek to buy back their bonds.

I proposed to make a business out of it. We Germans buy Greek bonds issued once for 100 % for let's say 40%. We sell them to France for just 30 %, and the French sell it back to the Greek fo 20 % then it's the Germany or whomever else and just one time thereafter the debts are gone. Isn't this marvelous?

Really the last debt cut has cost the private holders dearly and now it's again payday. So whomever thought and things Greece bonds are a great idea should be force to buy them again. At least should they have to pay as much as the Greek state for that . And this time it had to be their own money. Let's wait and see how they like it to see the value go down the drain.