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EU's Juncker Speaks, More Greece Confusion Follows
Some not very euro friendly headlines emerging:
10:35 03/22 EU JUNCKER: AT LEAST 2 MEMBER STATES OPPOSE LOAN GUARANTEES
10:36 03/22 EU JUNCKER: I AM NOT IN FAVOUR OF IMF AID TO GREECE
10:19 03/22 EU JUNCKER: IMBALANCES WITHIN EMU STARTING TO CREATE PROBLEMS
10:27 03/22 EU JUNCKER: GREEK STEPS SHOULD HAVE IMPRESSED MARKETS
10:31 03/22 EU JUNCKER: I DON'T THINK HELP FOR GREECE WILL BE NEEDED
10:34 03/22 EU JUNCKER: NOT NECESSARY FOR EU LEADERS TO AGREE HELP THIS WEEK
10:32 03/22 EU JUNCKER: MUST BE PREPARED TO ENSURE STABILITY OF EUROZONE
10:37 03/22 EU JUNCKER; CAN FORESEE TWO-PRONGED AID, FROM IMF AND EUROZONE
10:27 03/22 EU JUNCKER: IMPRESSED BY GREEK MEASURES
10:26 03/22 EU JUNCKER: CAUSE OF GREEK PROBLEMS IS LOSS OF COMPETITIVENESS
10:30 03/22 EU JUNCKER: GREECE WON'T BE ABANDONED IF IT NEEDS HELP
10:35 03/22 EU JUNCKER: THE PLAN LIKELY TO BE COORDINATED BILATERAL AID
10:32 03/22 EU JUNCKER: DON'T WANT TO GO INTO DETAILS OF GREECE AID
10:36 03/22 EU JUNCKER: NOT YET FIRMED ALL THE DETAILS OF BILATERAL AID
10:37 03/22 EU JUNCKER: I WOULD PREFER A SOLUTION WITHOUT IMF AID
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How many more weeks will we continue to see a daily flip flop on this story?
What is the purpose of this?
The more folks talk about Greece the less other problems are discussed until national financial networks can position themselves. I suspect that the music currently playing is a classic refrain of how to phuck your buddy.
In terms of media attention to this one, I gotta agree. Better stories are out there but this one appears to be far away and thus safe. Is this what they mean by "bugger thy neighbor?"
Ever been in a bad marriage? It is over, you quietly know it, but you know the pain that is getting ready to come by saying it is over is great and you are not sure you are ready for it, just yet. So you keep on looking for a way to make it work, and prop it up doing stupid, dysfunctional stuff that makes no sense relative to how you truly feel.
The Euro Zone is like this right now. Only it is a group marriage and the Orgy is over.
Bunch of clowns.
I think the EU WANTS a weak euro, so are sending mixed signals to the markets.
I don't know. My guess is that EU politicians are just morons. They say stuff that makes absolutely no sense because they can't make a coherent argument. Sounds a lot like American politicians...
Most politicians are morons, but you have to separate the EC ones from the others that speak for their countries. The first bunch is a bad joke. From all the rest, the German politicians speaking for Germany are only sane people around, basically saying I'm not gonna pay your bills. It is a really bad Era when what was common sense now passes for wisdom.
There is no EU. It is all an illusion.
EU JUNCKER: SAID HE THOUGHT LUXEMBOURG ACTUALLY HAD SOME JUICE.
GERMANY MERKEL: SAID SHE THOUGHT ANY SOLUTIONS THAT WOULD PROVIDE INCREASED VALUE TO THE EURO WAS BAD FOR GERMANY.
EU JUNCKER: SAID, "YES MAM", BUT THAT HE REQUESTED MERKEL CONTACT LITTLE BIT LAGARDE SO THAT THE TWO LEADERS OF EUROPE MIGHT PROVIDE SOME CONSISTENCY
MERKEL AND LAGARDE: REMIND EU JUNCKER THAT ALL WORKING LUNCHES ATTENDED BY BOTH ARE BY INVITATION ONLY
And in the meantime, despite all this uncertainty the market powers back up again
The EU politicians and functionaries are secondary to the power of the ECB - they control the money supply .
The Euro is a unique system whereby the central bank is almost completly divorced from the individual governments executive and fiscal control, unlike in the States where the treasury and FED are symbiotic.
Lets see how far the ECB can push their hard money policey.
Don't confuse a hard money policy with a no stupid loans policy. The ECB blew a gigantic bubble in Europe the past decade.
I completly agree - the ECB looked the other way when commercial bank private loans increased dramatically but constantly harped on about fiscal responsibility. I believe this was a deliberate policey of weakening governments to the point of irrelevance. Now the governments are cleaning up the bad investment decisions of commercial banks that the ECB would not allow to restructure - they have some nerve in Frankfurt
So, you still don't get it? This "uncertainty" is precisely what they (ECB/EU/Germany) want. By keeping Greece AND investors/speculators uncertain about their true intentions, everyone will play it safe. Investor's don't dare to short Greece, the latter doesn't dare not to execute austerity measures. But then again, maybe large parts of the population in Greece still don't understand the severity of the situation.
The EU don't want to bail them out, especially the Germans. to be honest with you I think they are talking about trying to get the Greeks booted out of the EU.
I am not sure that Berlin and Frankfurt share the same goals - if Berlin believes that both are compatible it is either corrupt or naive or possibly both.
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