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Quote Of The Day: "All EMU States Except Greece Oppose Debt Haircut"

Tyler Durden's picture




 

The wunder-farce continues as hope remains that an accord on Greece can be reached this evening. German Finance Minister Steffen Kampeter believes "Greece has delivered" as pledged on reforms but, unlike the rest of the rational mathematics-capable free-world, believes that Greece can bridge its fiscal gap without a writedown, adding that:

  • *KAMPETER SAYS GREEK OSI WOULD MARK `END OF GERMAN SOLIDARITY'
  • *KAMPETER SAYS 16 [of 17!] EURO STATES REJECT GREEK OSI WRITEDOWN

Will beggars become choosers once again this evening?

 

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Mon, 11/26/2012 - 10:57 | 3011109 lolmao500
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Yeah well if they give one to Greece, then Spain, Portugal, Italy and others will ask for one too down the line... can't have that! Even if most of that ``debt`` was really a check to the banksters.

Mon, 11/26/2012 - 10:58 | 3011113 Yellowhoard
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You give a mouse a cookie...

Mon, 11/26/2012 - 11:14 | 3011153 slaughterer
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Beware the Fischer-Bernanke-Evans Trifecta of speeches tomorrow Mr. Bear.  

Mon, 11/26/2012 - 11:38 | 3011216 SpanishGoop
SpanishGoop's picture

Not to worry, we will give in on America's debt also.

O, and China, Japan, and ...

 

 

Mon, 11/26/2012 - 12:37 | 3011460 El Viejo
El Viejo's picture

Codependency.

Mon, 11/26/2012 - 10:58 | 3011112 insanelysane
insanelysane's picture

The algos will get a good headline today but the reality will be more can kicking.

Final solution will be to give Greece 100yr repayment schedule with more loans built in up front.

Mon, 11/26/2012 - 10:59 | 3011114 bankonthebust
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In other news, Facebook goes complete retard (again) on the same day as mobile ad block pro gets released. 

Mon, 11/26/2012 - 11:00 | 3011117 ptoemmes
ptoemmes's picture

If the do come to an accord they better well break out in a Greek Accord Gangnam Style mash up.

Mon, 11/26/2012 - 11:04 | 3011123 Phillycheesesteak
Phillycheesesteak's picture

So we had a story on here about how Black Friday sales were down as a result of retailers cannibalizing sales because of grey Thursday. Now we hear that the overall sales for the 4 day weekend were up a whopping 12.8%, but not a peep of it on ZH? Why? How about some balanced reporting?

Mon, 11/26/2012 - 11:11 | 3011147 slaughterer
slaughterer's picture

ZH is not supposed to be "balanced," but to represent the views of ZH.  

Mon, 11/26/2012 - 12:18 | 3011391 Phillycheesesteak
Phillycheesesteak's picture

Got it. Only negative news reported on ZH so we can get the obligatory "It's going down, bitchez!" comments. Thanks for the reminder. I will read the positive spin BS from CNBC, then balance that with the negative spin BS from ZH and make a determination, just like I do with FOX and MSNBC for political news. BS one one side and BS on the other.

Mon, 11/26/2012 - 12:29 | 3011436 EscapeKey
EscapeKey's picture

You are supposed to get your news from a variety of sources. Where's the news in that?

Mon, 11/26/2012 - 11:26 | 3011180 SheepDog-One
SheepDog-One's picture

'Sales' were up? Means nothing in itself. What are you, manager of a Wal*Mart?

Mon, 11/26/2012 - 11:32 | 3011189 Disenchanted
Disenchanted's picture

 

 

"Now we hear that the overall sales for the 4 day weekend were up a whopping 12.8%"

 

drilling down deeper into the AP(All Propaganda?) story, from:

Holiday shopping season off to record start

 

Retailers, which can make up to 40% of their annual revenue in November and December, were hoping Thanksgiving openings and other incentives would help boost what's expected to be a difficult holiday shopping season. The National Retail Federation estimates that overall sales in November and December will rise 4.1% this year to $586.1 billion. That's more than a percentage point lower than the growth in each of the past two years, and the smallest increase since 2009, when sales were nearly flat.

 

I wonder how this year compares to the 2007 seasonal retail madness...

 

Mon, 11/26/2012 - 11:47 | 3011205 Dr. Engali
Dr. Engali's picture

Maybe you should dig a little deeper into the headline number. Sales don't mean anything if you have to give away the product to get people into the stores. I also recommend that you read the Zero Hedge conflicts disclosure policy

http://www.zerohedge.com/node/13972

 

 

 

Mon, 11/26/2012 - 12:15 | 3011373 forwardho
forwardho's picture

Thanks good Dr. A truly worthwhile read.

Mon, 11/26/2012 - 12:17 | 3011381 Non Passaran
Non Passaran's picture

Ho ho ho... What a tool!

Mon, 11/26/2012 - 11:04 | 3011124 asteroids
asteroids's picture

I imagine Germany and the rest of the Nordic countrys are trying to figure out when enough is enough. Remember, they are bleeding cash too.

Mon, 11/26/2012 - 12:16 | 3011376 Non Passaran
Non Passaran's picture

But the book value of their "investments" has been steadily increasing, like in best days prior to 2007!

Mon, 11/26/2012 - 11:07 | 3011133 NoDebt
NoDebt's picture

Wasn't Greece supposed to run out of money like 2 weeks ago?  Well, did it?  Maybe they stopped paying people and I missed that.  Or maybe the deadline was fake, like so many deadlines are.

Color me unimpressed, unsurprised, and very jaded.  They'll get their money and we'll do it all over again in 6 months.

I've gotten so comfortable with this cycle it probably means it's about over!

 

Mon, 11/26/2012 - 11:08 | 3011138 Karl Napp
Karl Napp's picture

Kampeter btw is not German Finance Minister but just a Vice Minister (Staatssekretär).

Mon, 11/26/2012 - 11:09 | 3011139 FLUSA.com
FLUSA.com's picture

Watching EURO's deal with Greek debt is like watching the Wile Coyote racing to the edge of the cliff...we all know whats coming next but its so fun to watch

Mon, 11/26/2012 - 11:10 | 3011145 Kaiser Sousa
Kaiser Sousa's picture

over it....

dow 36,000.....

Mon, 11/26/2012 - 11:13 | 3011149 THE DORK OF CORK
THE DORK OF CORK's picture

Our Irish anti - finance minister was again trying to distance himself and his former country from Greece.

He wants to be one of the boys it seems.

The fucker makes me sick to the pit of my stomach.

 

The Euro has bred a entire army of Quislings.

Mon, 11/26/2012 - 11:16 | 3011156 magpie
magpie's picture

Sounds like they are no longer horse trading, but punching Greece into the corner...blame them and queue OMT activation for France.

Mon, 11/26/2012 - 11:17 | 3011159 slaughterer
slaughterer's picture

Boys in Armonk, NY very busy over weekend.  Surprised ZH is not on top of it.  

Mon, 11/26/2012 - 11:40 | 3011219 TNTARG
TNTARG's picture

Tell us.

Mon, 11/26/2012 - 11:44 | 3011231 slaughterer
slaughterer's picture

Look at MBI today.  

Mon, 11/26/2012 - 11:22 | 3011168 Jacks Cold Sweat
Jacks Cold Sweat's picture

Van Rompuy's haiku : Autumn end november: The night has fallen/The bare branches can be seen/Even more lonely

https://twitter.com/euHvR

DAAAMN son.

Mon, 11/26/2012 - 12:15 | 3011368 Non Passaran
Non Passaran's picture

Rompi is a fucking moron.

Mon, 11/26/2012 - 11:24 | 3011171 TNTARG
TNTARG's picture

They will cut Greece and the greeks before cutting the debt.

These guys have lost it. They should be recovered in a psychiatric institution, so they can have their meetings and we can move on.

Mon, 11/26/2012 - 11:24 | 3011172 SheepDog-One
SheepDog-One's picture

Here we are for yet more edge of our seats high financial cliffhanger drama same as the last few years.

Mon, 11/26/2012 - 11:25 | 3011175 EscapeKey
EscapeKey's picture

Ah, good old "democracy" - 16 wolves voting they'll have the sheep for dinner.

Mon, 11/26/2012 - 11:30 | 3011177 forwardho
forwardho's picture

This Quote, and the sentiment behind it, bring to mind a sixteen person firing squad arranged in a circle, with the condemned standing in the middle. Both condemned and squad know the consequences of their imminent action. The condemned is grinning.

Mon, 11/26/2012 - 11:31 | 3011198 Sudden Debt
Sudden Debt's picture

Even SPAIN?!?!? AND IRELAND? AND PORTUGAL?!!!!

or do the bankers get to vote in their place because they're also bankrupt?

Mon, 11/26/2012 - 11:41 | 3011224 EscapeKey
EscapeKey's picture

do the bankers get to vote 

lol

you really need to ask?

Mon, 11/26/2012 - 13:05 | 3011588 TNTARG
TNTARG's picture

The Dark Age of Money.

http://sgtreport.com/2012/10/the-dark-age-of-money/

Greece is leaving patients with alzheimer, kidnies's and other deceases without care and medicines.

Economic darwinism here folks! Don't get sick!

 

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