" Als der Polizeihubschrauber am Donnerstag über der Villa kreiste, hielt eine Anwohnerin diesen zunächst für den privaten Helikopter des extravaganten Nachbars. Die Frau erzählte dem "New Zealand Herald", sie habe gedacht, Schmitz fliege mal wieder zum Frühstücken. "Das macht er manchmal so." " (Aus Spiegel.de)
"If an investor receives anything less than the full market value promised under the bond's contractual terms at each designated coupon payment date or at a principal maturity date, or adequate financial compensation for any variation in terms, it is most likely a default under our definition," Moody's said.
In short, to avoid a default under Moody's criteria, investors would have to voluntarily participate in the exchange; Greece would still have to be capable of making its debt-service payments; and the terms of the new transaction would have to be attractive on their own merit.
Given those criteria, "I can't see any way in the sweet world that Moody's can say anything other than 'default,'" credit analyst Gary Jenkins at Evolution Securities said Tuesday. "So they probably won't."
Of course, everything that will be done about the greek debt will be a default.
A default will be anything that makes investors receive less than they originally planned for. Anything that would help the Greeks would involve exactly that, paying less than originally agreed upon. Otherwise, it wouldn't help them much, would it?
There's just no way out of that dilemma, and while politicians have themselves fooled by the investment banks that sold credit insurance against the Greek debt blowup, at least this time, the rating agencies aren't buying the bullshit.
..even though this took 15 minutes to play, turn-by-turn style, and not the 30 seconds that it looks like in the video. But it's a lot of fun to play, even when you keep losing like I do. Everybody (it runs on macs too!) who likes brutal, turn-by-turn suspense, with a lot of guessing and planning ahead, should definitely check it out.
Note:While the video shows both side's units at all times, we only got to see what our units actually saw during the game. So you better not turn your back to where the bad guys may be approaching from.
Alas, the US economy is now so pathetic that the bulk of the population will settle for anything. Literally anything. And the saddest part: over 938,000 applicants were turned away. Here's hoping to Burger King needs a few million janitors in the immediate future too. And yes, aside from reality, things in America are really recovering quite nicely.(via Zerohedge)