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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Tue, 10/16/2012 - 10:21 | 2894555 LongSoupLine
LongSoupLine's picture



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

Tue, 10/16/2012 - 10:26 | 2894573 GetZeeGold
GetZeeGold's picture



They almost seem serious this time.

Tue, 10/16/2012 - 10:29 | 2894591 redpill
redpill's picture

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

Tue, 10/16/2012 - 10:35 | 2894614 JPM Hater001
JPM Hater001's picture

This is what my first divorce will look like.

Tue, 10/16/2012 - 11:06 | 2894718 RSloane
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.

Tue, 10/16/2012 - 10:22 | 2894558 LawsofPhysics
LawsofPhysics's picture

man your battlestations, war is bullish.

Tue, 10/16/2012 - 10:22 | 2894560 pods
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.


Tue, 10/16/2012 - 10:22 | 2894561 walidsassia
walidsassia's picture

its Potter time who cares.

Tue, 10/16/2012 - 11:27 | 2894790 MillionDollarBoner_
MillionDollarBoner_'s picture mean the Potter Twins? I'm in !:o)

Tue, 10/16/2012 - 10:24 | 2894569 alstry
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

Tue, 10/16/2012 - 11:04 | 2894710 vincent van goo
vincent van goo's picture

Alstrynomics on ZH!

Tue, 10/16/2012 - 10:24 | 2894570 buzzsaw99
buzzsaw99's picture

Greece needs a new gubbermint headed by Punkthe-eu Defaultopolis

Tue, 10/16/2012 - 10:25 | 2894574 asteroids
Tue, 10/16/2012 - 10:25 | 2894576 PUD
PUD's picture

Couldn't agree on the expiration date for yogurt?

Tue, 10/16/2012 - 10:27 | 2894587 GolfHatesMe
GolfHatesMe's picture

All have been changed to 4Eva   just like QE

Tue, 10/16/2012 - 11:28 | 2894795 MillionDollarBoner_
MillionDollarBoner_'s picture

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

Tue, 10/16/2012 - 10:27 | 2894584 Howdan
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.

Tue, 10/16/2012 - 10:36 | 2894616 Lost Wages
Lost Wages's picture

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

Tue, 10/16/2012 - 11:13 | 2894740 RSloane
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?

Tue, 10/16/2012 - 11:29 | 2894799 MillionDollarBoner_
MillionDollarBoner_'s picture

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

Tue, 10/16/2012 - 10:55 | 2894680 Nobody For President
Nobody For President's picture

My Presidential Platform in a nutshell.

Tue, 10/16/2012 - 10:29 | 2894597 Inthemix96
Inthemix96's picture

Thats a fucking surprise then.

Tue, 10/16/2012 - 10:31 | 2894600 Kaiser Sousa
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....

Tue, 10/16/2012 - 10:38 | 2894622 Lost Wages
Lost Wages's picture

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

Tue, 10/16/2012 - 10:40 | 2894627 GetZeeGold
GetZeeGold's picture



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


Tue, 10/16/2012 - 11:15 | 2894749 CrashisOptimistic
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.

Tue, 10/16/2012 - 10:31 | 2894601 Ignorance is bliss
Ignorance is bliss's picture

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

Tue, 10/16/2012 - 10:58 | 2894688 Nobody For President
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.

Tue, 10/16/2012 - 11:07 | 2894719 Ignorance is bliss
Ignorance is bliss's picture

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

Tue, 10/16/2012 - 10:31 | 2894603 Nothing To See Here
Nothing To See Here's picture

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

Tue, 10/16/2012 - 10:32 | 2894604 VonSalza
VonSalza's picture

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

Tue, 10/16/2012 - 10:50 | 2894665 Desert Irish
Desert Irish's picture

Slowest. Train. Wreck. Ever.

Tue, 10/16/2012 - 11:19 | 2894700 Nobody For President
Tue, 10/16/2012 - 11:20 | 2894768 PontifexMaximus
PontifexMaximus's picture

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

Tue, 10/16/2012 - 11:32 | 2894813 mayavision2012
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? 

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