European Union officials may require Greece to provide collateral for aid as part of any future sovereign debt restructuring, said a person with direct knowledge of the situation, Bloomberg is reporting.
Expanding the 110 billion-euro ($158 billion) lifeline Greece received last year may mean that assets or revenue from asset sales are used to secure extra funds, the person said.
Since the Greeks will have no means to pay back loans unless there is a huge euro inflation, under this proposal, a very likely possibility is that the EU will end up owning important Greek assets.
The banksters get the cash, the EU gets control of The Parthenon. Somewhere, Hercules is crying.
No comments:
Post a Comment