then the 130 billion euro bailout coming from the rest of the european un yor for greece is conditional on this deal happening today. whatever happens, it looks like the situation is likely to trigger a credit default swap, the cds event that almost a year ago everyone was so terrified of but now the european union seems willing to accept. all of this is going to unfold over the next day, the next 24 hours. i spoke with the energy minister of this country, the energy minister is the former finance minister and the reason he is the energy minister is because he has been put in charge of the privatization process which is extremely crucial to greece s future because it s going to raise a lot of money and it s also going to make some of their biggest institutions here far more efficient and hopefully profitable and lead to a better economy. he sent the following message to any bondholders who are thinking of holding out. we are hopeful. it is a very good offer to private inves