Papandreou Issues Pre-Recorded Announcement: Will Stay, Reshuffle Cabinet, Seek Vote Of Confidence; Long Weiner/Short G-Pap Pair Trade Started

Tyler Durden's picture

From Bloomberg:

PAPANDREOU SAYS THAT HE WILL CONTINUE, RESHUFFLE CABINET, SEEK VOTE OF CONFIDENCE

He also says that he has been struggling to save the country and is attempting to reach a national consensus. More importantly, it appears he bluffed when saying he would leave, a decision likely halted as nobody wanted to pick up the live grenade of responsibility.

Kiss bailout #2 goodbye.

From Reuters:

Greek Prime Minister George Papandreou will form a new government on Thursday and seek a vote of confidence from his PASOK parliamentary group, he said in a televised address on Wednesday.

"I will continue on the same course. This is the road of duty, together with PASOK's parliamentary group, its members, and the Greek people," Papandreou said on state television.

"Tomorrow I will form a new government, and then I will ask for a vote of confidence."

What we are confused by is, in order to properly delta hedge a G-Pap/Weiner resignation odds pair trade, whether Weiner should be long or short.

In other rumors, it is speculated that G-Pap is about to tweet a pic of his package and take an indefinite leave of absence.