The Myth Is Over: Europe Fails To Agree On Greece

Tyler Durden's picture




 

Given our earlier comments, it is hardly surprising but the Eurogroup meeting just ended and there is no agreement; headlines via Bloomberg:

  • *FRIEDEN SAYS NO DECISIONS REACHED TODAY ON GREECE BY EUROGROUP
  • *FRIEDEN SAYS EURO FINANCE CHIEFS TO CONTINUE TALKS ON MONDAY
  • *SCHAEUBLE SAYS EUROGROUP UNABLE TO REACH CONCLUSIVE AGREEMENT
  • *LAGARDE SAYS MORE WORK NEEDED FOR GREEK SOLUTION
  •  

EURUSD is tumbling (as are S&P 500 futures in their oh-so-correlated manner)

Of course, Juncker has his own spin:

  • *JUNCKER IDENTIFIED 'CREDIBLE' IDEAS TO BRING DOWN GREEK DEBT
  • *JUNCKER SAYS GREECE HAS MET PRIOR ACTIONS SATISFACTORILY
  • *JUNCKER SAYS GREECE HAS MADE 'CONSIDERABLE EFFORTS'
  • *JUNCKER SAYS NO MAJOR POLITICAL DISAGREEMENTS IN GREECE TALKS

 

EURUSD false-started on news that they HAD an agreement - then plunged as reality hit

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Tue, 11/20/2012 - 23:46 | 3001048 fonzannoon
fonzannoon's picture

There's always tomorrow.

Wed, 11/21/2012 - 00:01 | 3001076 Manthong
Manthong's picture

"I think that this situation absolutely requires a really futile and stupid gesture be done on somebody's part."

-Otter

Wed, 11/21/2012 - 00:06 | 3001098 DoChenRollingBearing
DoChenRollingBearing's picture

The Central Bank of DoChenRollingBearing made a gold purchase recently.

Wed, 11/21/2012 - 00:08 | 3001101 flacon
flacon's picture

Europeans know how to talk, talk, talk ad nauseum until the crows come home to roost on their heads. 

Wed, 11/21/2012 - 00:39 | 3001170 This just in
This just in's picture

Better than the cows coming home to roost on their heads.

Wed, 11/21/2012 - 01:36 | 3001253 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

King dollar!

lolz

Wed, 11/21/2012 - 03:07 | 3001269 Michaelwiseguy
Michaelwiseguy's picture

I think this is a Myth;

I never see 1080p video of "The Base Members" they always speak of on the news. Everyone has a cell phone video camera these days. I think "The Base(Al Qaeda)" doesn't really exist except in peoples imaginations. I see more videos of flying saucers than I do of people from "The Base".

This is reality;

The Ron Paul Crew & Co really fucked up our owners, the new world order Illuminati plans, really really bad. I just want to say, Good Job to everyone who helped.

This is the group of real American Men and Women the GOP should be courting for a win in the next Presidential election;

Without any help from the mainstream media to get people off their ass to show up this happened, and this is why I new Mitt Romney and the GOP were going to lose;

Ron Paul Crowds at Rallies

https://www.youtube.com/watch?v=A4_vK3jCMIY

  

Wed, 11/21/2012 - 07:41 | 3001437 economics9698
economics9698's picture

The GOP will never win another election unless they learn how to stuff the ballot box like Dems do.

Wed, 11/21/2012 - 08:02 | 3001466 j0nx
j0nx's picture

That and stop putting up RINOs and then thinking they lost because they were TOO conservative when in fact it was because they aren't conservative ENOUGH.

Wed, 11/21/2012 - 08:52 | 3001547 kralizec
kralizec's picture

FAIL, bitchez!

It's the new winning!  Works in Europe, right?

Wed, 11/21/2012 - 09:37 | 3001615 TWSceptic
TWSceptic's picture

You have to differentiate between fiscally and socially conservative, I don't think they can win an election with the latter anymore (and they shouldn't).

Wed, 11/21/2012 - 11:13 | 3001902 MachoMan
MachoMan's picture

Actually, that differentiation is exactly how we've managed to evolve into not even discussing the fiscal side of the platforms.  We end up talking about legitimate rapes and abortion instead of anything material for politicians.  Conservativism and liberalism necessarily entail discussion of both fiscal and social issues.  If we did, we'd see that on the fiscal side, there is no difference between the parties.  Oops.

Wed, 11/21/2012 - 14:31 | 3002680 TWSceptic
TWSceptic's picture

Huh? It's exactly the opposite, because the GOP talks mostly about the social issues when they talk conservatism, the democrats can attack and beat them on those issues because a majority of Americans are becoming more 'progressive' in that respect.

But the bigger problem is that republicans are nog longer conservative in terms of fiscal policy, they like to spend just as much as the democrats. The only real difference is that they don't like taxes, while the democrats do like taxes, that is if 'the rich' pays most of them.

Libertarians understand that the best approach is fighting for liberty, which means small government, which means socially free and fiscally conservative. Hope this helps you to understand the situation.

Wed, 11/21/2012 - 22:54 | 3003843 MachoMan
MachoMan's picture

The entire point of my post was that the actual talking points of the parties are immaterial...  I think you're confused if you're trying to give some type of viable strategy to the way the "GOP talks".  It is no more strategy than hulk hogan doing a body slam on his unwitting opponent as the crowd cheers.

The issue is that there is no such thing as a conservative party.  The definition of conservative has been co-opted by the MSM to only entail social issues...  again, if the full spectrum would be discussed (both social and fiscal issues), then there would be no practical difference between the parties.

Libertarians are conservatives (i.e., both fiscally and socially)...  "Socially free" and a political platform advocating for any government probably shouldn't be in the same sentence...  but it's a nice sales pitch anyway...

Wed, 11/21/2012 - 08:22 | 3001498 overmedicatedun...
overmedicatedundersexed's picture

the gop is doing it's job, acting like opposition, while helping guide us to socialism/crime land. some here state if the gop only ran conservatives not Rino's..well this is your reason why Mccain and Mitt were selected to lose.

Wed, 11/21/2012 - 07:37 | 3001434 youngman
youngman's picture

all of their pretty statues have pidgeons...

Wed, 11/21/2012 - 00:28 | 3001149 JPM Hater001
JPM Hater001's picture

I'll do it. 

How about I streak the inauguration...

Wed, 11/21/2012 - 01:31 | 3001248 Things that go bump
Things that go bump's picture

Good man.

Wed, 11/21/2012 - 07:24 | 3001423 Zero Govt
Zero Govt's picture

how about Bubble Ben, the global mega-gambler, comes across the Pond and backs another bunch of total losers with all his USD chips ..his Mad Contrarian Hedge Fund has backed every loser in America, why not Europe too?

Wed, 11/21/2012 - 00:00 | 3001078 Michaelwiseguy
Michaelwiseguy's picture

Wake me when the worldwide $700 trillion derivatives market blows up combined with the complete and total collapse of the bond markets and dollar collapse.

By the way, Congratulations Greece.

Wed, 11/21/2012 - 02:24 | 3001291 Just Ice
Just Ice's picture

Only if you promise to go to sleep until then...and stop the threadjacking with political commentary.

Wed, 11/21/2012 - 03:26 | 3001315 Michaelwiseguy
Michaelwiseguy's picture

I know I can thread jack with just a few sentences, or even one sentence, from my keyboard. I'm that powerful. Stop reminding me.

Wed, 11/21/2012 - 02:32 | 3001294 HaroldWang
HaroldWang's picture

Yep. Oh, and BTW, everything is rebounding cuz they'll come to a decision...Monday. Just like three years ago, two years ago, last year, etc. On and on. Oh well, rally on and Happy Thanksgiving!

Wed, 11/21/2012 - 00:03 | 3001088 Id fight Gandhi
Id fight Gandhi's picture

Monday. Monday is much worse over a long weekend. All dat doubt.

Wed, 11/21/2012 - 00:31 | 3001154 JPM Hater001
JPM Hater001's picture

If I get to be picky I'll take a down Friday to sober people for the weekend.

Wed, 11/21/2012 - 00:59 | 3001208 FL_Conservative
FL_Conservative's picture

When things get serious.....LIE!

Wed, 11/21/2012 - 02:07 | 3001282 PersonalRespons...
PersonalResponsibility's picture

+100

Wed, 11/21/2012 - 04:39 | 3001343 MillionDollarBoner_
MillionDollarBoner_'s picture

Manana...Bitchez!!!

Tue, 11/20/2012 - 23:46 | 3001050 vinayjha
vinayjha's picture

this liar will meet again, have dinner and will tell dec 5th we'll decide Greece payment. http://www.freefdawatchlist.com

Tue, 11/20/2012 - 23:55 | 3001069 Orly
Orly's picture

December 5th is the day the Regional Bank of Australia will announce a 25 basis point interest rate cut.

That timing would be quite interesting.

Wed, 11/21/2012 - 00:31 | 3001156 JPM Hater001
JPM Hater001's picture

Thats my birthday.

Wed, 11/21/2012 - 00:42 | 3001176 This just in
This just in's picture

Happy Birthday!

 

Your gift is a fucked up world where your assests vaporize.

 

It's the thught that counts.

Tue, 11/20/2012 - 23:46 | 3001051 lizzy36
lizzy36's picture

Unpossible!

I was promised rainbows and unicorns from the central bankers in perpuitity.

Wed, 11/21/2012 - 00:02 | 3001085 This just in
This just in's picture

Please allow 8 to 12 weeks for your unicorns to arrive.  Horns sold separately.

Wed, 11/21/2012 - 00:16 | 3001130 mvsjcl
mvsjcl's picture

Package for lizzy. A case of eunuch horns. Please sign here.

Wed, 11/21/2012 - 00:32 | 3001157 JPM Hater001
JPM Hater001's picture

They are coming up short on Rainbows...

Wed, 11/21/2012 - 00:47 | 3001191 This just in
This just in's picture

Don't worry.  They have a plan to meet rainbow demand by 2027.  It will just require some new green investments in the future.  Forward!

Wed, 11/21/2012 - 00:53 | 3001202 knukles
knukles's picture

Don't forget the Skittle Shits

Tue, 11/20/2012 - 23:47 | 3001053 Gloeschi
Gloeschi's picture

Juncker lies, so it MUST be serious

Wed, 11/21/2012 - 02:56 | 3001309 Tenshin Headache
Tenshin Headache's picture

Juncker always lies. That serious stuff was just a smoke screen.

Tue, 11/20/2012 - 23:48 | 3001056 a growing concern
a growing concern's picture

Fuck you, Bernanke!

Wed, 11/21/2012 - 00:29 | 3001150 a growing concern
a growing concern's picture

TD, why did you let the Bernank have a ZH account?

 

Holy shit, MDB is the Bernank, isn't he?

 

And all this time we thought it was satire...

Wed, 11/21/2012 - 00:50 | 3001195 This just in
This just in's picture

I am the Ber-Nank.  Cu-Cu-Ca CHoo.

Tue, 11/20/2012 - 23:49 | 3001057 Segestan
Segestan's picture

Shocking.... whats next?

Wed, 11/21/2012 - 00:13 | 3001120 HD
HD's picture

Greece will become the new home of the Twinkie - production of Ding Dongs and Ho Ho's will quadruple Greek GPD.

Euro crisis over.

Wed, 11/21/2012 - 00:54 | 3001203 This just in
This just in's picture

Rise of the yeast offensive!

Wed, 11/21/2012 - 00:58 | 3001207 HD
HD's picture

Must resist...    So many inappropriate jokes....

Wed, 11/21/2012 - 04:55 | 3001348 Parrotile
Parrotile's picture

"Resistance is Futile; Candida inevitable"

"Yeast we forget",

and others of a similar ilk . . . .

Tue, 11/20/2012 - 23:51 | 3001060 Orly
Orly's picture

There are no major political disagreements.

This is about money.

Wed, 11/21/2012 - 07:30 | 3001428 Zero Govt
Zero Govt's picture

Spot on. 

2 looooong years on these Euro village idiots still haven't worked out if your pockets are empty it doesn't matter how you re-arrange the alphabet to name your funding vehicle, you're still broke and not going anywhere

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