Spygun Snapshots for 12 March, 2012
7:10 pm Greek Finance Minister Evangelos Venizelos : "As you know, the Private Sector Involvement for the restructuring and the sustainability of the Greek public debt was a success story. Until now, the participation is at 96 per cent. Now we are waiting for the response of the market to the extension of our offer for the last 4pc of holders of Greek bonds of foreign law."The market understands very well that the acceptance of our offer is a unique choice, the smart and profitable choice. I am very optimistic for a universal participation in the PSI. From our side, the target is now the full implementation of the program and of course the return of Greece to growth." I don't know WHAT he's smoking but I want some!
7:05 pm Undisbursed funds from Greece's first rescue are to be cancelled.
7:01 pm How many of the annual influx of TWO MILLION Germans will feel comfortable visiting Greece this year for their summer hols? Will Greece's tourist industry hold-up? Will the Greeks continue to take money from Uncle Fritz?
6:58 pm German lawyers representing 110 Greek bondholders are to sue Greece and banks over debt swap. Another Lawyer Bonanza!!
6:47 pm The government appears to be so bereft of ideas that we are now approaching "Right-to-buy 2" or "Back to the Thatcher". The only advice you need when deciding on whether-or-not to buy your Council house is to consider your monthly outlay. Forget capital appreciation - that's from the past. Never mind misty-eyed dreams of equity and ownership. It's rapidly becoming a mug's game.....and ...oh yes....once the bank or your financial adviser begins to give you advice, ask about the "pre-emption" clause.
6:37 pm Grant Shapps MP is one of the brightest stars in the Tory firmament and his ideas are mostly sound. However, tempting first-time buyers into the housing markets when interest rates are at such a low level is a very risky strategy indeed. No point in talking about the "housing ladder" these days. The phrase used to imply some sort of progression to a bigger and better house. Nowadays, "the ladder" is propped-up against your personal debt mountain. SEE HERE.