Greek Deadline - Sunday Evening

Tyler Durden's picture




 

Tim Geithner's carefully scripted plan to avoid European "reality" until the US election is unraveling. While previously Greece was not supposed to be an issue until after November 6, the recent escalation with the Greek FinMin openly lying about a Troika interim bailout outcome (which may or may not happen, but only following yet another MoU which would see Greece fully transitioning to a German vassal state in exchange for what is now seen as a €30 billion shortfall over the next 4 years, and which would send Syriza soaring in the polls in the process ensuring that a Grexit is merely a matter of time) has forced a retaliation. According to the Greek press, the Troika now demands that Greece resolve its objections to labor reforms (which as reported earlier have forced the ruling coalition to split) by Sunday night, or else...

The implication, it appears, is that absent a compromise, the next Troika tranche of €31.5 billion is not coming, and Greece is out. And while the market is sanguine about this outcome, we are once again at the bargaining table, where nobody knows just who has the upper hand in Mutually Assured and quite Destructive bailout negotiations: Greece or Germany. From Kathimerini: "The government is facing a Sunday deadline for a full agreement on the package of measures that will see it cash in the next bailout tranche of 31.5 billion euros. The three-day extension it got in order to get maximum backing within the three-party coalition will be necessary as minor partner Democratic Left insists on an improvement in the terms concerning labor reforms that it staunchly opposes." Will Greece come through in the clutch? And if not, just what happens with the EURUSD on Sunday night as Greece calls the Troika's bluff? Deja vu shades of early summer, and plunging European risk come to mind...

More:

The Euro Working Group (EWG) of eurozone finance ministry officials will convene again on Monday to discuss whatever conclusions Athens has come to and prepare the blueprint that the Eurogroup of euro area finance ministers may discuss on Wednesday through a video conference that sources from Brussels say is likely to take place in order to discuss Greece.

 

The prime minister appears determined to have the measures passed immediately through Parliament, either in one or in two draft laws, ordering on Thursday the preparation of the bills required.

 

At the same time there are also disagreements within PASOK, the other minor coalition partner, as a number of deputies are threatening to vote against a Finance Ministry measure regarding privatizations.

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Fri, 10/26/2012 - 08:04 | 2920972 fonzannoon
fonzannoon's picture

This time they mean it.

Fri, 10/26/2012 - 08:05 | 2920974 GetZeeGold
GetZeeGold's picture

 

 

It's the SuperMega deadline.

Fri, 10/26/2012 - 08:09 | 2920981 UGrev
UGrev's picture

at 11:59 they'll kick the can.

Fri, 10/26/2012 - 08:17 | 2920999 GetZeeGold
GetZeeGold's picture

 

 

Then they'll sign the alliance with Iceland.......come get some Amigos.

Fri, 10/26/2012 - 08:31 | 2921025 TIMBEEER
TIMBEEER's picture

Iceland has a bad reputation of NOT paying other peoples bills.. they must be anti-social people.. or smth..

Fri, 10/26/2012 - 08:43 | 2921040 Badabing
Badabing's picture

Time to reboot and let the BANKS take it in the ass!

Fri, 10/26/2012 - 08:49 | 2921055 GetZeeGold
GetZeeGold's picture

 

 

Be careful....that Muppet looks like a terrorist.

Fri, 10/26/2012 - 10:00 | 2921271 gmrpeabody
gmrpeabody's picture

The infamous... Triple dog dare!

Fri, 10/26/2012 - 09:25 | 2921178 Muddy1
Muddy1's picture

without KY jelly

Fri, 10/26/2012 - 10:17 | 2921344 Abitdodgie
Abitdodgie's picture

Another deadline where nothing will happen ,"whatever".

Fri, 10/26/2012 - 08:21 | 2921005 Popo
Popo's picture

Everyone in the world knows that the world is on life-support until November 6th.  After which, the world's collective shit is expected to vaporize on the fan-blades.   The problem of course, is that any investor with a clue is going to front-run that expectation next week and get in early on whatever position they can.

Markets are slippery beasts.  The powers-that-be would love to believe they have a handle on things until the circus tent comes down on Nov 6th... but as George Bush learned the hard way, any expected trade is going to be front-run.   The only reason it hasn't been front-run already is that the race is too close to call.

Fri, 10/26/2012 - 08:22 | 2921010 UGrev
UGrev's picture

Well, when you're voting for the same horse... 

Fri, 10/26/2012 - 08:45 | 2921044 Atlasshruggedme
Atlasshruggedme's picture

Yes, they hope to kick the can again. I say, let it drop... I don't have alll my gold/silver/lead/brass/wheat and beans read... But I am 100000% more ahead then most people that prep... Bring it ON!

 

Quick Bio: I am 27, my age group has not had the chances to get ahead like the people currently in their 30's and older. My prep group all fit, smart, educated and trained are waiting for the reset. At this point we will be able to start something new and see the real fruits of our labors that have been supresed from the generations before us.

Fri, 10/26/2012 - 08:50 | 2921062 UGrev
UGrev's picture

Opsec dude.. opsec.. 

Fri, 10/26/2012 - 09:57 | 2921266 gmrpeabody
gmrpeabody's picture

They never learn...

Fri, 10/26/2012 - 08:09 | 2920982 malikai
malikai's picture

This is double-top-secret probation.

I'm scared, guys. Someone please comfort me.

Fri, 10/26/2012 - 08:09 | 2920984 THX 1178
THX 1178's picture

Imagine-- we've got front row seats. Pay close attention; we'll be trying to explain this for centuries.

Fri, 10/26/2012 - 09:03 | 2921108 sodbuster
sodbuster's picture

They are on double secret probation!!!!!

 

http://www.youtube.com/watch?v=Y0cF2piwjYQ

Fri, 10/26/2012 - 08:07 | 2920973 slackrabbit
slackrabbit's picture

CRIPLE FIGHT!!!

 

May the farce be with you...

Fri, 10/26/2012 - 08:11 | 2920988 EscapeKey
EscapeKey's picture

speaking of reality, both AMZN and AAPL are now up in pre-hour trading

Fri, 10/26/2012 - 08:18 | 2921001 fonzannoon
fonzannoon's picture

unfuckingbelievable.

Fri, 10/26/2012 - 08:38 | 2921033 UGrev
UGrev's picture

why? I just bought something from amazon this morning..  I saved the day!!!

Fri, 10/26/2012 - 08:42 | 2921037 slaughterer
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AMZN/AAPL: all those well-calculated earnings STRADDLES/STRANGLES on the W options UP IN SMOKE!  LOL.  

Fri, 10/26/2012 - 08:48 | 2921052 a growing concern
a growing concern's picture

I thought about playing AAPL with some puts because AAPL earnings have been very lucrative for me in the past, but I figured even if they shit the bed something crazy would happen and they would get bailed out, only to see a decline in stock price weeks later.  Turns out I was right and saved myself some grief.  I guess they engineered it to get a lot of other people, though.  Unfuckingbelievable.

Fri, 10/26/2012 - 10:25 | 2921377 earleflorida
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and the prem's could have got you 1:1 into VHC

jmo

Fri, 10/26/2012 - 08:11 | 2920989 Louie the Dog
Louie the Dog's picture

"Hey dad, can I have $10?"

"Mow the lawn first"

"Fuck you old man"

"Hey dad, can I have $10?"

 

 

Fri, 10/26/2012 - 08:24 | 2921012 slaughterer
slaughterer's picture

"Hey Germany, can I have $39,000,000,000?"

"Make some labor reforms first"

"That is inhumane"

"Dann Nein"

"Then we default on the bonds your banks bought"

 

Fri, 10/26/2012 - 08:29 | 2921022 TIMBEEER
TIMBEEER's picture

- Hello Hans, can I have 100€?

- Do some austerity first, Giorgos!

- Fuck you Hans!

- Hey Hans, can I have 200 €?

Fri, 10/26/2012 - 08:11 | 2920990 Eugend66
Eugend66's picture

Jeebus, give them greek commoners a break. No other nation "sniffed" so much tear-gas this year. Maybe voting realy does`nt change things and they are learning.

Fri, 10/26/2012 - 08:30 | 2921023 GetZeeGold
GetZeeGold's picture

 

 

Jeebus, give them greek commoners a break.

 

Jeebus....what do you think we've been doing for the last couple years? The commoners can stay....but the politicians and bankers have got to go.

 

Fri, 10/26/2012 - 10:39 | 2921431 JimBowie1958
JimBowie1958's picture

And austerity really doesnt work any fucking way.

They need to grow the consumer market, the tourism, the technological research, etc and you dont do that wityh bean-counter strategies of gradual diminishment of everyone.

Fri, 10/26/2012 - 08:13 | 2920992 Ghordius
Ghordius's picture

"Greece was not supposed to be an issue until after November 6"

So voter support in the US is contingent to the Prez/Timmah "fixing" Greece/Europe and so keeping Wall Street happy? I understand this is an argument that many believe, but is it really so? Honest question, I watch only 5 minutes of CNBC per year.

Fri, 10/26/2012 - 08:26 | 2921017 GetZeeGold
GetZeeGold's picture

 

 

I watch only 5 minutes of CNBC per year.

 

If you spent less on the EU pay per view...you could afford to watch CNBC a little more. Not that it's much better...but it does have Maria. She's one hot money hunny.

 

Fri, 10/26/2012 - 08:41 | 2921030 Ghordius
Ghordius's picture

For an old continental european redneck Cold Warrior anti-communist classical-liberal like me it's a bit strange to live now in a world where the Russian RT is less painful to watch than the American CNBC.

By the way, there is no such thing as an "EU pay per view". Our taxes and our militaries are a national matter, and so are the national broadcast services. 27 "Small Birds" instead of one "Big Bird".

Fri, 10/26/2012 - 08:51 | 2921064 GetZeeGold
GetZeeGold's picture

 

 

...it's a bit strange to live now in a world where the Russian RT is less painful to watch than the American CNBC.

 

Because candy tastes good?

Fri, 10/26/2012 - 08:55 | 2921077 fijisailor
fijisailor's picture

Yea isn't that ironic that there is more truth in media coming out of Russia these days?

Fri, 10/26/2012 - 08:31 | 2921024 eigenvalue
eigenvalue's picture

The thesis is that if Greece is gone, the stock markets around the world will crash, include the American ones. The support for Obummer will presumably dive with the stock markets. Obummer doesn't care whether Greece is fixed. He just doesn't want the stock markets to crash. 

Honestly, I don't think Greece is an issue. The Troika doesn't have the guts to stop funding Greece. Merkel also has an election after all. 

Fri, 10/26/2012 - 08:14 | 2920994 DeadFred
DeadFred's picture

Add this to a 100 year storm hitting mid week. Maybe it's time for a deep out of the money put on the weeklies? Nah, I'm sure it's priced in.

Fri, 10/26/2012 - 08:27 | 2921020 machineh
machineh's picture

Don't worry, we get one of those 100-year storms every year. Some years two of them ...

Fri, 10/26/2012 - 08:45 | 2921043 UGrev
UGrev's picture

you know what this means right? They're going to come up with bullshit scheme like "Storm Credits" or some silly shit because cow's fart too much causing 100 year storms 100x more than normal.. sometimes 200x more than normal. 

Fri, 10/26/2012 - 08:54 | 2921076 a growing concern
a growing concern's picture

Like talking about the weather?  Then you'll love playing the weather in the stock market with my new triple-levered Storm ETF (Ticker symbol SOL).  Contact your investment advisor today*!

 

*On a long enough timeline, this 3x ETF will go to zero.

Fri, 10/26/2012 - 09:43 | 2921224 UGrev
UGrev's picture

BRILLIANT!!!

Fri, 10/26/2012 - 12:05 | 2921810 John_Coltrane
John_Coltrane's picture

I guess you'll do it all using daily weather options which have to be rolled everyday?

Damn that daily compounding slippage is tough on "investors".

Fri, 10/26/2012 - 08:14 | 2920995 HD
HD's picture

I realize this isn't the time or place - but I just read what happened to the Krim family.  My heart goes out to them in what is an unimaginable horror to befall anyone.

http://www.nydailynews.com/new-york/mass-stabbing-west-side-article-1.11...

Fri, 10/26/2012 - 08:22 | 2921008 fonzannoon
fonzannoon's picture

That is horrible. From the news standpoint the nanny has already been convicted by every newspaper in NY. I'm not saying she did not do it but according to the media there is absoultely no need to conduct an investigation.

Fri, 10/26/2012 - 08:39 | 2921032 HD
HD's picture

Granted they do make the assumption that the Nanny went insane, opposed to being attacked by an outsider...

Considering the number of cameras likely in a building like that - we'll probably know soon enough if anyone entered the apartment prior to the killings.

Either way - to lose your babies like that and to know they died horribly has got to break their parents mentally.

I wish I had not read the article.

Fri, 10/26/2012 - 08:49 | 2921057 UGrev
UGrev's picture

Something doesn't seem right with this one.. 

Other than the fact that my heart is broken over the death of the chidren. Having 2 myself.. I can't imagine what something like that can do to you. ...Other than that.. there seems to be something out of place here.. 

Fri, 10/26/2012 - 08:54 | 2921072 fonzannoon
fonzannoon's picture

Like both of you said, it's pointless to the parents. The kids are gone. It's unimaginable. It's those stories that scare the shit out of me 100x more than anything else.

Fri, 10/26/2012 - 08:57 | 2921084 HD
HD's picture

If she snapped - I've gotta wonder why. By the account given, she had a good relationship with the family and a good job.  The father is a general manager at CNBC, maybe he directly or indirectly pissed someone off...

Fri, 10/26/2012 - 09:02 | 2921101 DeadFred
DeadFred's picture

If the attack was done by someone else the cameras will be found to be mysteriously disabled. Ordinary craziness happens though even in a paranoid world.

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