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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fonzannoon's picture

There's always tomorrow.

Manthong's picture

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

-Otter

DoChenRollingBearing's picture

The Central Bank of DoChenRollingBearing made a gold purchase recently.

flacon's picture

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

This just in's picture

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

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

  

economics9698's picture

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

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.

kralizec's picture

FAIL, bitchez!

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

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).

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.

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.

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...

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.

youngman's picture

all of their pretty statues have pidgeons...

JPM Hater001's picture

I'll do it. 

How about I streak the inauguration...

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?

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.

Just Ice's picture

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

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.

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!

Id fight Gandhi's picture

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

JPM Hater001's picture

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

FL_Conservative's picture

When things get serious.....LIE!

vinayjha's picture

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

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.

This just in's picture

Happy Birthday!

 

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

 

It's the thught that counts.

lizzy36's picture

Unpossible!

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

This just in's picture

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

mvsjcl's picture

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

JPM Hater001's picture

They are coming up short on Rainbows...

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!

knukles's picture

Don't forget the Skittle Shits

Gloeschi's picture

Juncker lies, so it MUST be serious

Tenshin Headache's picture

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

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...

This just in's picture

I am the Ber-Nank.  Cu-Cu-Ca CHoo.

Segestan's picture

Shocking.... whats next?

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.

This just in's picture

Rise of the yeast offensive!

HD's picture

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

Parrotile's picture

"Resistance is Futile; Candida inevitable"

"Yeast we forget",

and others of a similar ilk . . . .

Orly's picture

There are no major political disagreements.

This is about money.

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