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  • What Would Happen If Greece Doesn’t Pay the IMF: Q&A

    From bloomberg.com

    Cash-strapped Greece needs to repay almost 1.6 billion euros ($1.76 billion) to the International Monetary Fund next month, an obligation Interior Minister Nikos Voutsis said the country can’t and won’t meet, if there’s no deal to unlock bailout funds in the meantime. Here’s a list of questions and answers on what can happen next: Q: When are the next IMF payments due? A: Greece owes the IMF about 20 billion euros in principal over the next nine years for the bailout loans it has received. Four payments, totaling almost 1.6 billion euros are due next month, starting with a 308 million-euro payment on June 5. ... (full story)

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  • Comment #1
  • Quote
  • May 26, 2015 6:53am May 26, 2015 6:53am
  •  Schminner
  • | Joined Jun 2007 | Status: Member | 180 Comments
Why does Greece want to unlock the remainder of the loan from the IMF just to give it back to the IMF?

Unless, the plan is to unlock the remainder of the loan then tell the IMF to go fuk themselves and finally leave the Eurozone with the $$$.
 
 
  • Comment #2
  • Quote
  • May 26, 2015 7:33am May 26, 2015 7:33am
  •  EmptyEterniT
  • | Joined Jun 2011 | Status: Free Market Austrian Economist | 123 Comments
expect out right printing to cover the gaps left by Greece, the euro will be flushed if they left and kicked a reaction off with PIIGS. I would say .7 to the usd
 
 
  • Comment #3
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  • May 26, 2015 8:11am May 26, 2015 8:11am
  •  Guest
  • | IP XXX.XXX.251.185
With so much money now owed to other countries if they call in the debt collectors then Greece will probably be called Southern Germany
 
 
  • Comment #4
  • Quote
  • May 26, 2015 11:27am May 26, 2015 11:27am
  •  JeffZhou
  • | Joined Feb 2015 | Status: Member | 237 Comments
Things looking really grim for EUR right now.

Greece could potentially "bundle" all its principal repayments to the IMF into a single payment to be made later in the month to buy a few extra weeks for negotiations. However, that would probably be taken as a very risky move that could further increase pressure on its banks.
 
 
  • Comment #5
  • Quote
  • May 26, 2015 12:33pm May 26, 2015 12:33pm
  •  Freddyfx
  • Joined Jul 2007 | Status: Member | 52 Comments
SOMEWHERE SOMEBODY must be making a ton of money with this circus !!!!!
Guess I am NOT smart enough to comprehend it all.
 
 
  • Comment #6
  • Quote
  • May 26, 2015 3:39pm May 26, 2015 3:39pm
  •  nikitasnax
  • | Membership Revoked | Joined Dec 2014 | 90 Comments
Quoting Freddyfx
Disliked
SOMEWHERE SOMEBODY must be making a ton of money with this circus !!!!!
Guess I am NOT smart enough to comprehend it all.
Ignored
Totally agree, is not a matter of being stupid or smart, thing is that who makes the rules is the one that wins.
Us, the traders of 10.000 to 50.000$ or even 100.000$ we are convicted not to win.

So IMF is not like the rest of the creditors, it will hurt its credibility if Greece won't pay even though is not able to pay.
IMF is 100% managed by USA, believe me i 've made a research paper on them 15 years ago. So USA will not allow Greece to miss a payment, they will think something again. Maybe they will press their toy Merkel to give a political solution or they will figure something else, payment to IMF will be done.

Who believes that Cristine Lagarde is an alien?
 
 
  • Comment #7
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  • May 26, 2015 3:40pm May 26, 2015 3:40pm
  •  Guest
  • | IP XX.XXX.199.117
Freddyfx

it's easy - short the euro.
 
 
  • Comment #8
  • Quote
  • May 26, 2015 3:54pm May 26, 2015 3:54pm
  •  Freddyfx
  • Joined Jul 2007 | Status: Member | 52 Comments
Interesting explanation, now it gets clearer why everybody got so nervous when the Greek PM went to Moscow.
 
 
  • Comment #9
  • Quote
  • May 26, 2015 11:33pm May 26, 2015 11:33pm
  •  TheTopBloke
  • | Joined Sep 2007 | Status: Forex God | 1035 Comments
The IMF doesn't get paid.
 
 
  • New Comment
  •  Guest
  • | IP XX.XXX.99.248
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  • Story Stats
  • Posted: May 26, 2015 5:13am
  • Submitted by:
     Newsstand
    Category: Educational News
    Comments: 9  /  Views: 3,371
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