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IMF Says Ready To Continue Support For Greece
- IMF SAYS `WE STAND READY TO CONTINUE OUR SUPPORT FOR GREECE'
- IMF SEES `POSITIVE OUTCOME' ON GREECE AT NEXT EUROGROUP MEETING
- IMF SAYS SUPPORT SUBJECT TO ADOPTION OF AGREED GREEK MEASURES
And the EUR surges
From Market News:
Monetary Fund made it clear Thursday that financial support for Greece
is subject to completion of agreed upon economic reforms, and said a
"positive outcome" is expected at next week's Eurogroup meeting on
ensuring the aid program can be financed.
"We stand ready to continue
our support for Greece subject to adoption of the economic policy reforms agreed with the Greek authorities," Caroline Atkinson,
IMF director of External Relations, said in a statement.
"Progress
is being made in the discussions to ensure the full financing of the
program, and we anticipate a positive outcome on this at the next
Eurogroup meeting," she said. nnHowever, she noted that, "Conclusion of
the pending program review remains subject to approval by the IMF's
Executive Board."
An IMF team visited Greece
to complete the latest review, but no date has been set as yet for the
executive board to consider the staff report and recommendations.
nThe IMF statement comes after EU's Economic and Monetary Affairs
Commissioner Olli Rehn earlier Thursday essentially
announced that the EU is now playing for time in efforts to ensure
continued Greek funding.
Rehn sought to downplay expectations for the
upcoming Eurogroup meeting on June 19-20, saying only that he was confident it would agree on disbursement of a E12 billion tranche from Greece's
current E110 billion bailout package.
But Rehn said a new bailout of
around E90 billion (depending whose estimates you choose to believe)
will not be decided until the following Eurogroup meeting on July 11. nn** Market News International Washington Bureau: 202-371-2121 **
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In other News Greece could give a shit about the IMF.
Meanwhile in Canada they know how to protest..... (a hockey game)
http://news.nationalpost.com/2011/06/16/photos-riots-fire-destruction-af...
Fucking socialist hippy low-lifes. Good thing theyre acting cute posing for fb photos, should lead to easy arrests by the VanPD.
yes, white people should know better than to act like this
These people - the Fed, the IMF/World Bank/BIS/ FSB/Goldman/JPM – are making their own money around the world on the backs of the peoples around the world. It is the biggest heist in mankind’s history - a massive transfer of wealth to self-proclaimed “world governors,” draining all economies to the point they will need “assistance” from these despots.
IOW, these self-appointed “global leaders” don’t use value to buy value. They meet to steal the value through inflation (making money out of thin air) and then use contrived and fraudulent “loans” agreed to by duplicitous shyster finance officials to artificially bankrupt the “people,” and then take their property through taxes and confiscation of public-owned properties.
Who are they? Just a bunch of unelected, greedy, daring self-styled bankers filled with chutzpah whose value pipeline goes from the American people (and other industrialized nations) through the Fed to the IMF/World Bank.
When America’s so-called House of Representatives authorized the Fed in the “Monetary Act of 1980 to “monetize foreign debt,” i.e., to create money out of nothing for the purpose of lending to foreign governments, the Fed became the central bank for the world.
Until then, it was permitted to make money only for the American government
In G.Edward Griffin’s words: “The international version of the game called Bailout is similar to the domestic version in that the overall objective is to have the taypayers cover the defaulted loans so that interest payments can continue going to the banks.”
The goal: “It is the conscious and deliberate evolution of the IMF/World Bank into a world central bank with the power to issue a world fiat currency.” And, ultimately of course, world governance.
Could Greece be their fly in the ointment?
+100
Is this really a surprise?
Kick printing presses into newly added 7th gear! FLOOR IT!
Wow, what a quick pump and fade...
As you get older.........what can you do?
And exactly one algorithm, whose programmer is clearly on crack, listened. Elsewhere, in the World of We're All Truly F'd Now...crickets.
It's too bad that Criminal Syndicate Wall Street bankers are not more literate...and familiar with The Boy Who Cried Wolf One Too Many Freakin' Times. It is right at their reading level, and would help a grateful nation awaiting their very important learjet exodus.
I suspect this comment was designed to go hand in hand with the "China to save the day again" headline...providing a reason for PMs to be sold...in a plan to force more reallocation of funds in a way pleasing to Ben Bernanke, maker of the world's greatest wasteland.
The bigger the riot the bigger the bailout...
It seems the Greeks should take notes from the Vancouver riots from last night. Now there were some pissed off people. A hockey fan scorned..........
Yes, strip the people of their jobs, their wealth, their homes, their rights....meh.
Now lose a hockey game, and the people LOSE IT!!
does greece have a hockey team? and if so, why not?
+1 hahaha
This is the difference between a real mob and a "state sponsored street rally"...
Controlled (or pacified) opposition takes on many different forms.
Sort of like staked out "free speech zones" at planned protests. Here you go folks. This 300 square feet out of 25 square miles is designated as the place where you can speak your mind in public. And yes, we believe 300 square feet is being generous.
If you disagree......well......what are you going to do about it?
Bread & Circus isn't just for ancient, failing Rome, damnit.
p.s. Greek hockey fans bring octopus to the game for the tailgating.
From the '1984' Newspeak glossary.
“prolefeed” (the steady stream of mindless entertainment to distract and occupy the masses)
BUY BUY BUY
problem fix, all gone
Cue Ireland asking for an interest rate cut in 3... 2... 1
Rally on.
Quick, get me some Xanax. Never mind, are there still any Qualudes around?
All world bankruptcies EASILY solved just by printing more piles of fiat currency! Why the hell didnt someone think of this before and save us all these centuries of troubles?
Greek PM says new Greek loan from EU and IMF will be huge... as in hugely rapist of the greek people.
DSK new Greek PM????
Good one. With the politicians they have, the greek people are screwed. They need to hang some bankers and some politicians first.
Nothing will change and the daily raping of the people will continue until bankers are swinging from ropes. End of story.
All is well in Greece, not so much for the US taxpayer again however....once again, bend over.
You know you like it that way.
Dont even pretend!
You know you like it that way.
Dont even pretend!
Isn't the issue now whether or not Greece stands ready to support the IMF?
I love that now all one has to do is whisper Lehman 2.0 and hundreds of billions will flow their way.
Sort of like how trillions were spent on two off balance sheet wars by whispering 9/11.
There are no negative outcomes anymore, merely soft patches ahead of bailouts.
Everything truly has become transitory since nothing lasts more than a few months or a year at most.
Here comes Recovery 3.0
lizzy, you post some of the most brilliant stuff posted on here
huge hat tip from me girl
Kick-eth the can.
Get with it. Greece is contained.
For the next 40 minutes, at least.
Yes all is well for another half hour or so until Greece comes out with their own wire comments saying 'not so fast'.
The "negotiations" are being done through the media. If the Greeks continue to fill the streets, "investors" will blink. They have no acceptable alternative.
Greek containment is transitory.
Well, when you can't find your way out, I guess the thing to do is to find a way deeper in.
Lagarde
GS says drive the market into the ground buy the bonds back at pennies and problem solved...see that was easy ft alphaville
Like the plutocrats ever see "negative outcome" on their little experiments. They set up "tough" conditions in return for their "help" but they never keep those. Greece is the prime example. They are behind all of the targets which were supposed to be filled in order to get more "help". Not to mention the EU's involvement which is outright illegal.
Greece rescue announcement number 3478-A
3478-B coming soon from the ECB
3479 to follow from the EU
3480..............
Who will run the show is the real question to ask : The people or the Oligarchy?
The answer lies in that. As Greece is small , the Oligarchy will win. But the pain will be such that if there is contagion to other EU countries it could become pandemic. THAT would scare the shits out of the Oligarchy. As it would the resulting gridlock that would bring down their house of cards.
The IMF hopes and prays the greek menace can be contained. With a bucket of USD.
Seems like Greece has IMF by the balls.
Man we have the dumbest mother fuckers in the world running everything. How does this happen?
Bernanke: Jean-Claude, we seriously need to get some lift - anything - in our equity markets prior to tommorrow. Can you or the IMF float some news to get the EUR up and dollar down? Between you and me, Obama's left 80 voice mails for me, since he doesn't want equities to tank, while Jamie & Lloyd are pushing for the opposite.
Trichet: Let me make some calls, Ben.
Cool, so all is well and absolutely no need for QE3.
Depends on the day and whether Fraud Street bonuses are self-sustaining, dog.
I do know your statement was born out of rhetoric.
I would only add that the QE forever trade seems like an extremely crowded one, and those typically end up woefully underperforming ultimately.
But I do not have a crystal ball, and things like government PonziFiatskiNomics do weigh on the situation.
The Oprah effect.
Maybe this will be her new gig - IMF spokesperson flashing that smile "Greece if fine - just like me" (smile); then seen at the Acropolis promoting tourism (during days without molotov cocktails and tear gas).
Look under your chairs . . . it's Yanni's latest CD
I wish I could hear some of the inside jokes of these plutokrats..." they must think we are all a bunch of idiots, it has seriously become too easy for them now.
Fade this rally. It is only so the eu and banks can organize the haircuts people have to take
'IMF support for Greece' = 'bend over, americans'.
Just so we know, would the IMF please show exactly what Greece's balance sheet / P&L would have to look like for them not to receive credit?
And then, suddenly und totally unexpected, came the IMF and saved the day. It stopped raining, unicorns appeared, Greek bikini girls and some Leprechauns danced in the sunbeams...
IMF represents an institution that needs to be brought to justice and immediately ended. It acts as a regime that imposes economic policies that burden whatever country under egregious amounts of debt which ultimately cripples the nation from growth prospects and thus is not in the best interest of the nation.
As ZH referred to yesterday, this is odious debt and the people will have no part of it nor it's flawed economic assumptions of the IMF.
IMF Says Ready To Continue Support For Greece
U.S. Taxpayers get cornholed AGAIN by bailing out another bank/country.
ftfy
Was that our "shank the dollar/pump the market" sound bite du jour?
Support subject to adoption of already agreed Greek measures
If the support is subject to agreed upon measures and greece has yet to adopt those measures, then there is NO deal. So not so bullish. Just more headline rhetoric.
You know what isn't headline rhetoric, June ISM below 50........rally on.
Yes IMF says it is ready to help out Greece, as long as further severe austerity measures are put in place? Wow talk about counting your eggs before your chickens are hatched.
The HFT need to work off the short term (100 milliseconds) oversold market. Give it at least 346 more milliseconds Lizzy before you call it a rally.
Just the usual cheap talk to calm down the markets.
To quote Emperor Joseph II the musical king,.. " Well, there it is "
He said that to Voltaire who told him that Mozart was the best, an uber Bach. Which pissed off Frederick II of Prussia, a lover of Bach, a German, but who dared not contradict Voltaire. So Voltaire pleased the holy Roman Emperor and pissed off his old admirer Frederick on a matter of ...music.
I always said Mozart was the Neil Young of his time. A true rebel. Thats why he's Mozart
Meanwhile, back at the ranch, things weren't looking so good.
Just another bad day for the NWO.
What makes the IMF think Greeks just want to be slave traded by someone else? Besides, IMF doesn't have the funny munny either, it's all coming from Bernankeopolous.
All TPTB are just stalling for time to gird their loins for the default and falling dominos. It's all coming faster than they thought.
Its obvious that the powers that be learned a good lesson after lehman went down: no more large scale credit events that could set off a daisy chain with numerous counterparties. Especially when the counterparties are BANKS.
The large scale bankruptcy event inevitable, only a matter of time.
You can’t bail out the Titanic.
should read, IMF tells US taxpayers they are supporting Greece now.
Oh, you think they don't read the charts and know we are at a critical resistance point. they always time public statements for this.
We're from the IMF and we're here to help.
Functional alternatives:
" " " World Bank " " " " "
" " " ECB " " " " "
" " " Federal Reserve " " " " "
"My name is Baron David René de Rothschild [grinning]. How you doin'?"
This is non-news. The IMF is bound by its own rules that demand a country that it is lending (aka giving) its money to must remain solvent for at least the next 12 months.
The only way Greece will remain solvent is whether the EUnuchs cough up the big bucks, yet again, first.
This whole thing is fucking madness.
When it all goes tits up very shortly there will be former leaders from the Brussels Politburo and "euro elite" dangling from telephone poles all over the continent of Europe.
Must ... not ... reference ... 300.
Brussels sprouts are good for your health. General. Telephone pole sprouts...
Brussels - anything - is poison to all of us...especially to us Americans.
Or do you think that the 600 bn QE2 Dollars that "somehow" ended up in euro-banks, sworn to us as meant for investment in America by Uncle Sam & Co, was "really" good for Americans "somehow"...even though it all ended up in euro banks (excluding, of course, the cuts which ended up in the Caymans, Bahamas, and under the cobblestone streets of Zurich)?
If so, please carry on. The world could use some humor right about now.
pot calling the kettle black? after the CDO/CDS spread world wide? Bean counting is a game where you look at the whole ledger...
Andrew Duff fanatic that you present yourself as, it's called having your arse handed to you...
Hey, I know, put what's left of your client's account into naked puts on penny stocks...
God damn, this shit is far too easy.
Rember what Tyler wrote: ignore the noise. Or don't, I could use yet another Donzi :o)
- Dupe -
Long live ZH
This is all BS. Without restructuring of the debt (write offs) it is all smoke and mirrors. If someone were to agree to fund the idiots then we should immediately start the attack on that countries debt as they will soon be in the same shape as Greece. Organizations like the IMF, ECB just don't get it, and neither do individual state governments.......the game is OVER!
So, I just called the IMF to attempt to find out how much of these loans the US tax payer is on the hook for. I know in terms of quotas for voting we have about 16 percent. does anyone have this info, because I'd like to know why the uS is bailing out europeans who won't bail out their own block. Why are we fucking bailing out the world ponzi scheme
Here is my take of the situation, culled from “The Creature From Jekyll Island.”
The IMF/World Bank is a protégé of the Federal Reserve; it would not exist without the flow of American dollars and the benevolence of American leadership; it is used as an instrument of totalitarianism.
As to funding, G. Edward Griffin explains that although the IMF is funded on a quota basis, the greatest share of capital comes from the industrialized nations such as Great Britain, Japan, France, and Germany, with the U.S. contributing the most.
In reality, he said, the U.S.’ contribution “represents about twice as much as the number indicates (at the time he wrote in 1994 it was 20%), because most of the other nations contribute worthless currencies which no one wants. The world prefers dollars.
“One of the routine operations at the IMF is to exchange worthless currencies for dollars so the weaker countries can pay their international bills…. It is a kind of international FDIC which rushes money to a country that has gone bankrupt so it can avoid devaluing its currency. The transactions are seldom paid back.”
According to Griffin, however, these “donations” have only lowered the economic level of the donating countries; they have not raised the level of the recipients, i.e., the people. “The money has simply disappeared down the drain of political corruption and waste.”
The world prefers dollars because the US 's locked down the access to the commodities market.
As to the US tax payer money, funny.
Tragic. yes. The IMF already is functioning as a world central bank; the American economy has been deliberately exhausted through foreign giveaways and domestic boondoggles.
The IMF's world currency, the SDR, already is in usage - most importantly by the BIS; Bernanke is well on his way to destroying the sound dollar as the world reserve currency. His only trick left is to destroy more; he’s standing at America's economic bottom and trying to drive her down more. To a sane man with good intentions, it’s idiotic; to a madman cabal in a ferocious fight for world dominance it makes sense..
All that’s necessary now is the appropriate crisis for the globalist cabal to “stabilize society,” to save the world by driving the nations into world governance in their hands. Hopefully, the Greek people won't cooperate.
More help for Greece is on the way:
"All my assets are available for this effort." -- Rep. Weiner
"You can count on my support." - Bernie Maddoff
"Greek maids? I'm in."- Dominique Strauss-Kahn
"Mission accomplished." - George Bush
I bought a bottle of Ouzo yesterday....just doing my part to help out.
OK, anyone want to take puts/calls on US/NATO warships heading towards Greece (to "uphold democracy") if Papi is found swinging from the local lampost? Because, per John Perkins, calling in the Jackals will be the next step if they don't take austerity nicely up the ass.
It remains to be seen how they'll attempt to get it in, but the International Union of Banksters will leave no weapon untried, that's for sure.
dup
"Blah, blah, blah..."
Has that DSK look alike in a dress started work yet??
In some ways the current Greek episode is like Versailles reparations all over again. This time, with the French people owning major portions of the two banks Societe Generale and Credit Agricole (CA), the French need to have Greece bailed out to save their national interests in the banks. IOW, it’s Germany again that needs to come up with the money to pay France.
...* IMF says blowjobs all round for the Banksters and the Taxpayer flips the hoes bill...*
Fuck you's...Douche bags IMF crew....
as I have said before the bankers end game is not money, it is owning the revenue producing infrastructure of all countries. every country that needs a bail out will get it and then some and eventually they will have to put up the aforementioned infrastructure as collateral. then when the default occurs they get what they were after all along. why do you think none of the banks can come up with the proper title when they try to foreclose? it's because the titles were given to the world bankers long ago as collateral for more loans. the bankers don't give a shit about money, of course they have to put on a show for the world and act like they are pissed that they have to hand out bail out money, but in the end they will give and give until they achieve default. then they exchange paper for hard assets, end of game.
Exactly! That's what they're doing with Greece; the bankers want to own the infrastructure. The bailouts just get sweeter and sweeter...
The trouble is, the bailouts are coming out of taxpayers', wage earners', savers' and consumers' pockets; fortunately, the printing has now been recognized as currency devaluation. Europeans and Americans alike are figuring out that quantitative easing is nothing more than currency devaluation. IOW, we're all paying for QE through inflation and taxes. The banks aren't coming up with the money to bail out Greece; it's me and thee and the Greeks.
Then, when the economy goes through a recessionary crisis created by the banks, the politicians representing the banks want higher taxes levied to make up for the recession induced drop in revenues and for the artificial “stimulus” to jump start the economy.
IOW, higher taxes and the devaluation of the currency in the U.S. will go to help the bankers confiscate Greek infrastructure.