As Greek Default Fears Return, Government Considers “Borrowing” Pensions To Repay IMF…(USSA Pensions Too!!)
by Tyler Durden
ZeroHedge.com
03/02/2015
Greek short-term default risk jumped over 300bps today putting the odds of a restructuring at 50-50 within the next year as the warnings we issued last week with regard Greece’s imminent default on its IMF loan loom. Seeking to reassure its lenders (and avoid yet more capital flight), Reuters reports the Greek government said it was “exploring solutions,” including delaying payments to suppliers or try to raise up to 3 billion euros by borrowing from state entities such as pension funds. We are sure the Greek people will be enthused when they find out what the ‘radical left’ has in store for their funds…
The Rest…HERE