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IMF Invokes Grexit's Ghost

Tyler Durden's picture




 

Perhaps the IMF forgot, but nobody in Europe is allowed to rock the boat until the Obama reelection. Either way, this just hit:

  • International Monetary Fund won’t agree to further aid payment to Greece before decisions taken on new debt restructuring, Athens-based Skai.gr reports on website, without citing anyone.
  • IMF insists debt ratio come down to 120% of GDP in 2020
  • IMF may stop funding Greece under bailout agreement

Since the credibility of those "without citing anyone" reports is more or less negative, expect an official IMF response in minutes. On the other hand, if there is no IMF response, look for the #Grexit hashtags to promptly reappear.

 

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Tue, 09/25/2012 - 11:36 | 2828056 Ralph Spoilsport
Ralph Spoilsport's picture

The algos will respond whether the article is cited or not. That's the whole point, right?

Tue, 09/25/2012 - 11:40 | 2828071 GetZeeGold
GetZeeGold's picture

 

 

Don't care what the algos do......just don't tell Americans they are the IMF.

 

Tue, 09/25/2012 - 11:44 | 2828090 Abraxas
Abraxas's picture

IMF, WTO, WB, GS, JP, USA, GB, D, UNICEF, WHO, UN, EU ... Different faces of the same beast.

Tue, 09/25/2012 - 12:04 | 2828191 GetZeeGold
GetZeeGold's picture

 

 

Need just one more.....and we'll have it licked.

 

Tue, 09/25/2012 - 12:52 | 2828402 20-20 Hindsight
20-20 Hindsight's picture

Good point.  One acronym is missing on your list: WTF.  

Tue, 09/25/2012 - 11:58 | 2828169 Cash2Riches
Cash2Riches's picture

The best thing Greece could do is get out while the getting out is good. The IMF is simply trying to hollow them out, as they always do. Leave while you still have some real assets!

 

http://davidmorganblog.blogspot.ca/

Tue, 09/25/2012 - 11:36 | 2828058 slaughterer
slaughterer's picture

All players have thoroughly prepared to profit from the GREXIT by now.  Europe needs to bring on the GREXIT if they want to see EUR/USD 1.40 again. 

Tue, 09/25/2012 - 11:38 | 2828061 lesterbegood
lesterbegood's picture

"120% of GDP by 2020"

LMAO

Tue, 09/25/2012 - 13:17 | 2828532 xear
xear's picture

120% of GDP by 2030

Tue, 09/25/2012 - 14:59 | 2828947 timbo_em
timbo_em's picture

Ask the bond market and you will probably hear that every plan for Greece with debt/GDP above 60 percent is dead on arrival.

The troika geniuses came up with that 120 percent number because this is where the Italian debt/GDP level was in 2010 when the men in black entered Greece.

Tue, 09/25/2012 - 11:41 | 2828079 Parabolic
Parabolic's picture

This just in: the debt has been re-structured...successfully I might add.  We are therefore good until 2015 at least...

Tue, 09/25/2012 - 11:43 | 2828081 slaughterer
slaughterer's picture

Secret algorithm for "GREXIT":

"If READ: "GREXIT, Greece exits Euro (or similar news headline)..." then BUY EUR/USD on 10,000% leverage in first millisecond."

"Repeat until user "Stolper" enters SELL EUR/USD."

Tue, 09/25/2012 - 11:47 | 2828112 john_connor
john_connor's picture

No one cares.  Everything Priced in to eternity.

Tue, 09/25/2012 - 11:49 | 2828121 slaughterer
slaughterer's picture

OT: with AAPL still not recovering from its recent drop, it might not be a good time to set up the "QE3 froth portfolio" (SKUL, RGR, MCP, et. al.) ...

Tue, 09/25/2012 - 11:52 | 2828137 Mrmojorisin515
Mrmojorisin515's picture

didn't something like this crash the markets only two months ago?

Tue, 09/25/2012 - 11:53 | 2828147 MarsInScorpio
MarsInScorpio's picture

I know this is spamming, but tough.

This is for all you China-idiots, here is your "superior" culture we should all want to emulate . . .

Man Crushed by Road Flattening Truck On Orders of Chinese Officials

http://www.infowars.com/man-crushed-by-road-flattening-truck-on-orders-o...

Note: You'll see his pulverized brains on the roadway . . . the Chinese are the worst of capitalist pigs - no god, therefore no accountability - They are all about greed, and where we are headed with the 1% in charge.

But the MSM won't cover it, and Atlas will just shrug . . .
-30-

Tue, 09/25/2012 - 12:00 | 2828174 slaughterer
slaughterer's picture

Not a good idea to look at that linked photo before lunch.  Just saying...

Tue, 09/25/2012 - 15:37 | 2829184 Tango in the Blight
Tango in the Blight's picture

Luckily Arthur Dent wasn't Chinese.

Tue, 09/25/2012 - 12:00 | 2828176 PUD
PUD's picture

Did they remember to lock the dumpsters?


Things have gotten so bad in Spain that they are locking up the trash.

A story from the New York Times Madrid bureau Tuesday tells the sad tale of dumpster divers in the capital scrounging the a working class neighborhood in search of food.

“So pervasive is the problem of scavenging that one Spanish city has resorted to installing locks on supermarket trash bins as a public health precaution,” the story reported.

It’s a sad symptom of a broken system that global politicians have failed to solve for some years now.

Tue, 09/25/2012 - 12:03 | 2828190 slaughterer
slaughterer's picture

Saw lots of dumpster diving behind the Publix and Wynn Dixie stores in SW Florida last month...

Tue, 09/25/2012 - 12:11 | 2828218 MarsInScorpio
MarsInScorpio's picture

I don't know who you are, but I like you.

 

It's good to find someone on ZH who doesn't have his head up his anus, suffering from a terminal case of unwarranted superiority complex.

-30-

Tue, 09/25/2012 - 12:10 | 2828215 Hobbleknee
Hobbleknee's picture

The system is working perfectly fine for TPTB. Dumpsters are not their concern.

Tue, 09/25/2012 - 12:13 | 2828210 ebworthen
ebworthen's picture

If IMF denies the rumor, they can confirm it later, then deny that they denied it, then confirm the next rumor, before denying it later, then confirmin it, then deny the initial confirmation and the subsequent denial while complaining of incompetent media, junior officials, bond vigilantes, and doomsayers on blog sites who present reality.

Jawboning elevated to an art form.

Tue, 09/25/2012 - 12:10 | 2828212 helping_friendl...
helping_friendly_book's picture

Don't want any starving people eating that food your throwing away! Better lock it up for their own safety. Don't you remeber your Mom used to tell you "Finish your dinner! Don't you know there are people starving in Africa?" Now I guess they are starving in Spain but, for heaven sake, don't let them finish your dinner the five second rule is being enforced. 

Tue, 09/25/2012 - 12:11 | 2828221 NoWayJose
NoWayJose's picture

The keep asking the Greek citizens if they want to stay in the Euro, and they always answer YES.  Of course, they want to only because of debt forgiveness and more bailout money.  At some point, however, the question should be asked - "Do you want to stay in the Euro, even though they are cutting off any further aid".  That answer may be a little different.

Tue, 09/25/2012 - 12:53 | 2828407 Ignorance is bliss
Ignorance is bliss's picture

At what point does Greece say F..it and leave the Euro and all those debts behind? Are they waiting for a military coup d'etat ...cause you know those boys want to get paid too.

Tue, 09/25/2012 - 14:54 | 2828933 CrashisOptimistic
CrashisOptimistic's picture

This doesn't work.

Greece imports 400,000 barrels of oil per day to run the trucks that bring food to grocery store shelves.  They produce ZERO oil.  They import every drop.

If they try to default, the EU will blockade them and put a surcharge on that oil.

Greece will pay.  There is no escape.  Ever.

Tue, 09/25/2012 - 14:02 | 2828660 El_Puerco
El_Puerco's picture

 

 

Argentina just got a RED Card from "La Beach" French lady of IMF...

May God have Mercy on her soul!...

 

Note:  where, in this diagram is place in “La Beach?” (“IMF Boss”)?.

http://www.flickr.com/photos/expd/8022217605/

 

 

Saludos...

 

 

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