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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lolmao500's picture

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.

Yellowhoard's picture

You give a mouse a cookie...

slaughterer's picture

Beware the Fischer-Bernanke-Evans Trifecta of speeches tomorrow Mr. Bear.  

SpanishGoop's picture

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

O, and China, Japan, and ...

 

 

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.

bankonthebust's picture

In other news, Facebook goes complete retard (again) on the same day as mobile ad block pro gets released. 

ptoemmes's picture

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

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?

slaughterer's picture

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

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.

EscapeKey's picture

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

SheepDog-One's picture

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

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...

 

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

 

 

 

forwardho's picture

Thanks good Dr. A truly worthwhile read.

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.

Non Passaran's picture

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

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!

 

Karl Napp's picture

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

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

Kaiser Sousa's picture

over it....

dow 36,000.....

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.

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.

slaughterer's picture

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

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.

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.

SheepDog-One's picture

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

EscapeKey's picture

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

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.

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?

EscapeKey's picture

do the bankers get to vote 

lol

you really need to ask?

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!