Yes, it can pop at any time.. NBG Will recover and it will recover fast once the green run begins, but there is no telling when it will begin since it is a pink sheet now and relies heavily on news. Since shares will be diluted tomorrow/Tuesday I will be buying in and taking this ride. Good luck to all and I hope everyone see green with NBG in the days to come.
European Stability Mechanism (ESM) chief Klaus Regling revealed that Greece's European creditors and the International Monetary Fund (IMF) were getting closer on the issue of restructuring Greece's debt, in an interview with the Greek newspaper 'To Vima' published on Sunday. On the other hand, the head of Eurogroup Thomas Wieser in his interview with Greek paper Kathimerini warns Athens for the participation of IMF in the programme is pre-condition for the first review.
Regling noted that such a solution had a medium-term time frame and would not involve a nominal haircut of Greece's debt but an attempt to make its profile "gentler". Everyone wanted Greece to be attractive to investors, he pointed out, and an unsustainable debt was a deterrent.
If the creditors succeeded in extending the period of the already very low debt repayments, that would attract investors in both the financial sector but also in the real economy, where the prospects were more long-term, he said.
Regling expressed surprise at recent statements that Prime Minister Alexis Tsipras made about the IMF's role in the third memorandum, pointing out that IMF participation was expressly envisaged in a series of legal documents that Greece has signed, including the Eurogroup decisions last August.
Asked if Grexit was still on the table, the ESM chief noted that the monetary union had been designed in a way that made no provision for any country's exit but added that "this possibility always exists when the commitments as a member of the monetary union are not respected."
Thomas Wieser The head of the Euro Working Group Thomas Wieser in his interview with Kathimerini underlines that the involvement of the IMF in the Greek programme is obligatory in the Greek program. “I see no possibility of closing the first review without the IMF on board and this is not a matter of personal opinion or the opinion of EU institutions but a matter of fact that stems from the parliamentary processes in a couple of member-states”, he said. Also, Wieser call Greece to conclude the review as quickly as possible, because the discussion on the debt relief should start and because Greece is the only country that has been in an adjustment scheme for six years.
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