There is talk that the package for Greece will total 120b euros over 3 years which would be much bigger than initially said a few weeks ago. With Germany struggling just to come to an agreement for giving its 8-9b euro portion of the 30b in total the EC said they will commit, its likely that the IMF will dramatically step up with their funding commitment. European bonds, particularly Greece, are rallying off their lows as, if true, the loans would keep debt restructuring talk at bay, for now.

Category: MacroNotes

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2 Responses to “120b euros for Greece?”

  1. theobannion says:

    The austerity that comes with the EU/IMF support will cripple an already crippled economy. Just an opinion.


  2. alfred e says:

    Hey. Read IMF as Helicopter Ben.

    He’s still printing and will do what it takes to keep the market juiced and the peons in their place.