A Rough Timetable For The Greek Potato Sack Race To March 20th ?

http://www.guardian.co.uk/business/2012/feb/17/eurozone-world-markets-rise-greek-bailout

Febuary 20th - Eurogroup FinMin meeting - does Greece finally get their deal ?

Febuary 22nd - does the PSI finally get its initial rollout ?

Febuary 29th / March 1 - Greece Bailout completed ?

March 2nd End of ten day window to participate in PSI - what do the holders of english law Greek debt do ?

March 1 & 2 - Eurogroup Meeting . If Febuary 20th Eurogroup FinMin meeting doesn't result in Greek deal being approved , discussion of the bailout will be dealt with at this latest Summit Leaders

March 13th - Alleged completion date for PSI

March 20th - 14.5 in Greek bonds come due - will they be able to meet the deadline ?

9.40am: Some interesting thoughts from Deutsche Bank, going in on theFinancial Times splash, which claims that part of the bailout will be held in escrow [ie not immediately accessible to Greece] in order to ensure that the Greek government can meet its debt payments.

The FT overnight is suggesting that the terms of the second bailout will likely include an escrow account that must always have enough cash to service Greece's debt for the following 9-12 months. Greece will probably be subject to increased surveillance from its international creditors and government spending will be scrutinised more than ever. It also looks like even if the deal is approved on Monday, rescue funds will only be disbursed after Greece completes a list of 24 "prior actions" by the end of Feb. Many items on this list are simply things that Greece has so far failed to follow through on. This will then be followed by the PSI offers to be issued on Wednesday. The PSI offer [a haircut imposed on private investors in Greek bonds, who will swap their holdings for debt of a lower value] would be open for 10 days and the exchange will be formally completed a week before the 20th March EU14.5bn bond repayment deadline. Greece has little wiggle room for execution error and the German MOF [Ministry of Finance] said that the idea of a bridge loan for Greece is off the table. There are so many moving parts and we will almost certainly get more updates from the weekend papers given a Eurogroup advanced meeting on Sunday evening before the official Eurogroup meeting on Monday.