Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (565128)	5/7/2010 5:58:43 PM
From: longnshort	Respond to of 1573926

it's greek to me

To: Jim McMannis who wrote (565128)	5/7/2010 7:45:19 PM
From: bentway	Read Replies (1) \| Respond to of 1573926

IMF Loans To Greece Have Preferred Status--Official Article By Ian Talley Of DOW JONES NEWSWIRES International Monetary Fund loans to the Greek government will be repaid before other creditors if Athens defaults on its loans, including financing from European governments, officials said Thursday. Financing from European countries will have the same status as existing Greek debt, a European Commission official said. "Traditionally, IMF debt has been treated as preferred, and secondly, there's no experience of members having losses from their contributions to the IMF," said IMF's Caroline Atkinson. IMF loans are given senior status partly because they are offered times of crisis, she said. If European loans are treated the same as existing money borrowed by Athens, and Greece defaults on any portion of the Eurozone's 80-billion-euro bailout package, it may mean that taxpayers from those lending countries may only get a few cents on their euros. Markets have been worried that Greece will default on its debt, which could then spill over into other EU countries that are also struggling with high deficits. Given that a large portion of Greek bondholders are in Europe, particularly in Germany and France, Greece's economic calamity could exacerbate the Eurozone's ill health if Athens defaults. -By Ian Talley, of Dow Jones Newswires, 202-862-9285; ian.talley@dowjones.com