Greek Troika Talks End Abruptly Following "Complete Disagreement"

Tyler Durden's picture

What the Spanish rumor of a bailout lite (as a reminder, the full blown Spanish bailout has already been largely priced in, and today's action is a very confused market pricing in a second, bailout-lite) giveth, Greece taketh away. 

From ANA via From Bloomberg:

A second meeting between the heads of the EU-IMF troika mission in Athens and Greek Labour Minister Yiannis Vroutsis on Tuesday afternoon ended abruptly a few minutes ago, after the two sides hit deadlock for the second time in the same day.


Sources in the labour ministry cited "complete disagreement" between the two sides on the issue of three-year wage maturation periods. They said that the labour ministry had been prepared to continue the talks but the representatives of Greece's creditors had departed.

MSM spin on how this is bullish, and worth at least another 10 ES points (because the one thing that will force Congress to compromise on a Fiscal Cliff is the S&P at all time highs... /sarc) due imminently.

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LongSoupLine's picture



wow, look at futures crash!...oh, wait...sorry, I was using "logic".  "markets" still climbing.

GetZeeGold's picture



They almost seem serious this time.

redpill's picture

Pretty soon a bunch of molotov cocktails are going to "completely disagree" with some riot police.

JPM Hater001's picture

This is what my first divorce will look like.

RSloane's picture

Its not wise to ignore the wage schedules of the police and the military. We may soon see the riot police throwing the molotov cocktails with the military cheering them on.

LawsofPhysics's picture

man your battlestations, war is bullish.

pods's picture

Why does Humpty Dumpty come to mind when I think about this meeting?

Everyone playing jigsaw puzzle with the shattered remains of Greece.


walidsassia's picture

its Potter time who cares.

MillionDollarBoner_'s picture mean the Potter Twins? I'm in !:o)

alstry's picture


When technology replaces the need for people to are we going to milk each other in the

In the  mean time, let's keep milking the bankrupt and increasingly BS industrial age

buzzsaw99's picture

Greece needs a new gubbermint headed by Punkthe-eu Defaultopolis

PUD's picture

Couldn't agree on the expiration date for yogurt?

GolfHatesMe's picture

All have been changed to 4Eva   just like QE

MillionDollarBoner_'s picture

I have some of that yogurt in my fridge...

Howdan's picture

This fiasco stinks to high heaven but it dismays me to say, YET AGAIN, it looks like zeee politicians will hoodwink the markets and give Greece the next EUR 32bn tranche of bailout money until next week when they come back asking for more.

It's truly depressing to see the continuation of the total disconnect between economic fundamentals and asset prices but at least I'm not alone in my thinking as I am regularly comforted by reading the smart and insightful comments from my fellow posters here at ZH.

Interesting to note recent comments by Global Macro hedge fund managers like Andrew Law (Caxton) and Stephen Jen (SLJ) in the FT regarding this market vacuum / disconnect / manipulation by CB's.

Lost Wages's picture

Like Jim Sinclair says, anything that is needed will be provided. 

RSloane's picture

Greece's unemployment is cresting over 24%. Their revenue base is shrinking horribly. How much bailout money is required over how long a period of time to compensate for that?

MillionDollarBoner_'s picture

Shhhhh...they are still developing the math to calculate that...

Nobody For President's picture

My Presidential Platform in a nutshell.

Inthemix96's picture

Thats a fucking surprise then.

Kaiser Sousa's picture

so fucking ass backwards stupid...

WHY THE FUCK (not withstanding fundamentals!!!!!!) IS THE FUCKING DOW OR S&P UP????????????????????????????????????????????????????????????????????

never fucking mind man....i know but cant help asking anyway....

Lost Wages's picture

When will you learn that Uncle Ben's rice always turns out perfect?

GetZeeGold's picture



Huh.....I never made the connection.


CrashisOptimistic's picture

It really has nothing to do with Bernanke.

It's no longer a market.  The computers do combat with each other.  The share prices don't reflect anything but maneuvering.  

Do you think two boxers in a ring care about Spain or Greece or fiscal budgets?  They only care about the other's maneuvers.

Ignorance is bliss's picture

I wouldn't be surprised if Greece is geting pressure from their military internally. They want to get paid.

Nobody For President's picture

I suggested several months ago here on ZH, and will say it again - I believe there is an excellent chance the Greek crisis will be 'solved' (short term anyway) by the military about one day after the Troika cut-off.

Ignorance is bliss's picture

Coup d'etat are on page one of the banana republic crises management guide.

Nothing To See Here's picture

These "markets" and the MSM could easily find a way to paint as bullish a Golden Dawn majority...

VonSalza's picture

Umarika wants Oil for nothing and the fried chicken for free.

Desert Irish's picture

Slowest. Train. Wreck. Ever.

PontifexMaximus's picture

couldn't be more bullish for the market, squeeze those london hf out.

mayavision2012's picture

Athens News 10/15/12: Tsipras predicts downfall of coalition:

"Syriza head Alexis Tspiras predicted a folding of the coalition government on Antenna station on Monday, saying 'the three-party consortium that is collapsing will collapse, and then the country's future will be managed by healthy forces'."

" 'Hitler rose to power because a programme similar to that being implemented in Greece now was followed in Germany. We must learn from history,' he underlined. (Athens News/le, AMNA)"

What might be the "healthy forces" he refers to?