As CEO of the OK-Rating Institute and involved in the situations of many ratings, we carefully considered the Greece position :
The way out of this Greece tragedy is not as simple as that and needs a lot of cooperation:
We therefore advice
We therefore advice
1. ECB is buying ALL of Greece Debts at 100% and selling all its debts to the IMF for 60%, thus reducing Greece Debts with 40% leaving all parties within the EEC without further growing debts [having absorbed 40%) under the sole condition that Greece is leaving the EEC !!! and so it can restore and devaluate its Drachme.
2. IFM is making a repayment schedule of these 60% debts for the next 60 years
3. The interest to be paid by Greece is not more than 1% above of the intrinsic loans' interest.
The final consequence is that 40% of the burden is taken by the EEC, about half of the 60% or 30% is taken - of the consequent taxes - by the inhabitants, and the rest will be gained by the regular inflation.
2 opmerkingen:
Greece has €350 billion in total debt including about €70 billion in Troika "post-petition" loans; these are untouched.
This leaves just €280 billion in actual debt to undergo a haircut.
Apply a 50% haircut to this debt and you will have just about €140 billion.
Hence, of the total €350 billion, just €140 billion or exactly 40% is eliminated.
An amount that Greece never is able to repay other than to leave the Eurozone and to restore its Drachme. Otherwise they will have to be monitored for the next 30 years.
The EC and the ECB could be playing an important role too.
If the EC would decide that the ECB is allowed to place ECB garanteed Euro [Golden Ratio] Bonds till a maximum of the golden ratio (approx. 62%) of the BNP for each member country as the maximum guaranteed loan from the EC and leave the rest of the individual needs of each country to the free market, you create an investment fund of Euro 7.500 billion.
Countries might borrow from, they don't need to do so.
Added with some new restrictions such as that any subsidy from the EC is cut with given percentages of 10%,20%,40% and 80% when the debt of any country is exceeding 62%, 82%, 102% and 120% in order to secure the bonds we will have a simple mechanism serving the main questions to the problem
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