Greece DEFAULTS On DEBT!!!!

[Economy 52,956]

http://finance.yahoo.com/news/oil-prices-drop-greece-defaults-012908851.html https://www.imf.org/external/np/sec/pr/2015/pr15310.htm

 

Greece just became the first Developed Nation to default on a debt payment to the "International Monetary Fund" as they missed a 1.6 Billion Euro payment that was due today.

It is too early to say what implications this will have on financial markets. Tomorrow we will be able to observe if the bond market appears to distabalize or if investors see a Greek default as an isolated event

 

 

Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement today regarding Greece’s financial obligations to the IMF due today:

I confirm that the SDR 1.2 billion repayment (about EUR 1.5 billion) due by Greece to the IMF today has not been received. We have informed our Executive Board that Greece is now in arrears and can only receive IMF financing once the arrears are cleared.

“I can also confirm that the IMF received a request today from the Greek authorities for an extension of Greece’s repayment obligation that fell due today, which will go to the IMF’s Executive Board in due course."

[Bad Bromance 5,809]

Ugh!!  I hope my investments don't take too much of a hit.  

[LePetitGAGABLover 21,234]

Wait? Defaulting is bad right?

 

[Economy 52,956]

Wait? Defaulting is bad right?

 

means they werent able to make a due payment. Its like you missing a mortgage payment

[Azor Ahai 18,861]

http://finance.yahoo.com/news/oil-prices-drop-greece-defaults-012908851.html

 

Greece just becane the first Developed Nation to default on a debt payment to the "International Monetary Fund"

 

Slay !!!  

Another first place for Hellas  

[LePetitGAGABLover 21,234]

means they werent able to make a due payment. Its like you missing a mortgage payment

Yikes. That's bad

[Computer 10,980]

 

 

[Economy 52,956]

Ugh!!  I hope my investments don't take too much of a hit.  

same! Although the biggest fall should be the first few days as ppl are aprehensive of worst case scenario then they should rebound

 

if this default does in fact destabalize the whole market tho, then things coukd get ugly quickly. I hope not :ohno:

[Miker 5,683]

What a mess. They should have never included Greece in the first place. What were they thinking?

[Economy 52,956]

same! Although the biggest fall should be the first few days as ppl are aprehensive of worst case scenario then they should rebound

 

if this default does in fact destabalize the whole market tho, then things coukd get ugly quickly. I hope not  

[Babel 41,640]

Slay !!!  

Another first place for Hellas  

 

Way to see the bright side of things

[Economy 52,956]

What a mess. They should have never included Greece in the first place. What were they thinking?

well greece did lie about their financial health for years. Thats how they got away with overspending more than the EU allowed for so many years

 

i think they overstated their GDP somehow making their deficit as percentage of GDP having appeared smaller than it was

 

#GreekCorruption

[Bad Bromance 5,809]

same! Although the biggest fall should be the first few days as ppl are aprehensive of worst case scenario then they should rebound

 

if this default does in fact destabalize the whole market tho, then things coukd get ugly quickly. I hope not

I hope not either girl.  We don't need more instability in our world.  

[Chromatislaps 34,854]

so what's next?

[lego 44,165]

I don't understand anything.