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Tomorrow EuroStat Reports European Government Deficits: Expect More Pain For Greece On "Downside Surprise"
Tomorrow, the European Commission's EuroStat agency, which recently was proven to be merely yet another totally incompetent European bureaucracy after the disclosure of how Goldman hid various countries' debt through assorted swaps and fooled everyone and especially EuroStat, will release its 1st notification of General government deficit and debt. The issue here is that this will be the first glimpse into the Greek situation from outside Greece. And the differential should prove to be simply hilarious... not to GGB holders though. The last thing Greece needs as it scrambles to prevent bankruptcy (or to accelerate it... who knows - Goldman may have taught them well) is for the world to uncover that its ~13% deficit was really double that.
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So in other words, sell the Euro tonight?
being the interventionist bitches eurocrats have always been, i hope they try to fight the tide and bankrupt bunch of other countries in the process
Euro has been acting very funny the last couple of days. The markets have gyrated all over the place but the EUR/USD has barely budged from where it was several days ago.
Volatility hates to rest. With this extended break of movement for the EUR, maybe nap time is over.
sounds like a caserole my mom used to make, downside surprise.
Too bad there is no market transparency to see who holds the CDOs betting on Greek default.
I guess we get the answer at the end of Q2 when GS reports another blowout qtr and implements 15 minute bonus payouts to keep the staff correction minions correction blood funnel stickers, properly aligned with the interests of the firm.
lol 15 minute bonuses, soon to be followed by M5, M1, and per tick bonuses
unexpected downside surprise
Keep your eyes on /ES and S&P. I will be looking for 5% correction if they both close below 1200 today.
Well, if Eurostat is, according to you, "yet another totally incompetent European bureaucracy", why do you pay such an attention to this release?
Hey Tyler, didn't you post some article a while back (I believe late March - me and your search feature are not making friends) about someone dumping a ton of Greek bonds, even the stuff coming to term on the 22nd?
not disclosed - was citibank
Do we know what time the report is to be released? There is nothing on my schedule saying anything about a European Debt Release.
I suppose 0830 GMT?
This is the type of info that makes this site great.
Since we are witnessing a great comic opera of buffoons, incompetents fraudsters - I dont think such a characterization of a news source invalidates its ability to provide comic relief and trading ideas!
This is the type of info that makes this site great.
Since we are witnessing a great comic opera of buffoons, incompetents fraudsters - I dont think such a characterization of a news source invalidates its ability to provide comic relief and trading ideas!
chump change compared to US deficit. hA!
The last thing Greece needs as it scrambles to prevent bankruptcy (or to accelerate it... who knows - Goldman may have taught them well) is for the world to uncover that its ~13% deficit was really double that.
I wonder what the budget deficit of the USA really is? My guess, it is a well into double figures...
Tomorrow is going to be crazy in Europe and possibly the US. Greece has been lying it's but off and everyone knows it. Tomorrow we will know how much lying they have actually done to the EU.
Well, I think the most intriguing question has nothing to do with Greece. The question is will they find any other nations over the Mendoza line? Will one of the other PIIGS, or France for that matter, turn out to be running a 6% deficit? Inquiring minds want to know!
The taverna will be closed to restock plates, Ouzo, Retsina, and to find
some giant squid. German and American tourists are particularly welcome