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April is a make or break month for the future of Greece. Will the May 1st bank holiday be the day deposits are raided by the EU?

April is a make or break month for the future of Greece. Will the May 1st bank holiday be the day deposits are raided by the EU?

The big Putin – Tsipras meeting in Moscow kicks off what looks to be a historic April month for Greece.

The May 1 bank holiday may very well be the day Greece announces its exit from the Eurozone, or just as likely its submission to Germany…for which the bank holiday makes for a nice “Cyprus style” depositor haircut, in what would be Brussels’ biggest bank robbery to date.

  • April 8 – Alexis Tsipras meets Putin
    Greek PM is due in Russia to visit his counterpart, Vladimir Putin. Greece has been making overtures towards its eastern giant
  • April 9 – IMF payment
    Greece is due to make a crucial €448m payment to the International Monetary Fund
  • April 10-13 – Easter weekend
    Greece celebrates Orthodox Easter weekend
  • April 14 – Public sector wages and pensions
    Estimated €1.7b in social security payments made by the state
  • April 14 – Bond roll over
    Government faces €1.4 billion in refunding 6-month T-bills
  • April 15 – ECB Governing Council meets
    Decision over providing emergency assistance (ELA) to Greek banks is reviewed
  • April 17 – Bond rollover and interest payment
    Government faces €1bn in refunding of 3-month T-bills and €194m in interest payments to private bondholders
  • April 20 – Interest payment to ECB
    Greece due to pay €80m interest bill on bonds held by the European Central Bank
  • April 24 – Eurogroup meeting
    Finance ministers convene in Riga
  • May 1 – IMF payment
    A €200m loan repayment to the IMF
  • May 1 – Labour Day Bank Holiday
    Haircut, capital controls or Grexit announcement???

References:

See Also

http://www.telegraph.co.uk/finance/economics/11511653/Isolated-Greece-pivots-east-to-Russia-China-and-Iran.-But-will-it-work.html

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