Bulldog75: 3:22pm CST: AM AWAITING FURTHER DATA AND CONFIRMATIONS. UNTIL THAT TIME, WE ARE SIMPLY AWAITING FOR THE RATES TO DROP TO THE FRONT BANK SCREENS. WHEN THAT EXACT TIME SHOULD COME IS UNKNOWN. GOD HAS MADE IT A POINT ALREADY, THAT NO ONE KNOWS BUT HIM. I SHALL RETURN IF WE HAVE DOCUMENTED CONFIRMATIONS. THANKS. (gone).
Bulldog75: "They will get the money," one official who was on the conference call told Reuters after it ended.
Another confirmed that the payment would go ahead and the first 4.2 billion would be paid into a blocked Greek account on May 10.
If Greece were not to get the money, it would face financing problems because of a lack of cash for salaries as well as money for the redemption of 435 million euros of a bond maturing on May 15, a bond that was not fully swapped into new paper under the Greek debt restructuring deal finalized last month.
European leaders are struggling to decide how to respond to Greece following Sunday's election, in which no party secured a clear majority and fringe anti-bailout parties made substantial gains, raising questions about Greece's long-term ability to stick to the program agreed with the EU and IMF.
Senior officials, including Germany's Joerg Asmussen, a member of the European Central Bank executive board, have cautioned Greece that it cannot expect to renegotiate the terms of the bailout and remain in the euro zone. http://www.reuters.com/article/2012/05/09/us-greece-tranche-efsf-idUSBRE84812W20120509