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 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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Ralph Spoilsport's picture

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

GetZeeGold's picture



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


Abraxas's picture

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

GetZeeGold's picture



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


20-20 Hindsight's picture

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

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!

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. 

lesterbegood's picture

"120% of GDP by 2020"


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.

Parabolic's picture

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

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."

john_connor's picture

No one cares.  Everything Priced in to eternity.

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.) ...

Mrmojorisin515's picture

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

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

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 . . .

slaughterer's picture

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

Tango in the Blight's picture

Luckily Arthur Dent wasn't Chinese.

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.

slaughterer's picture

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

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.


Hobbleknee's picture

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

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.

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. 

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.

Ignorance is bliss's picture

At what point does Greece say 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.

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.

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”)?.