Greek FinMin Varoufakis Warns "Be Ready For A Clash"

Tyler Durden's picture

Germany's Steinmeier reiterated that "Greece needs to respect its bailout pledges," but Greek Finance Minister Varoufakis told lawmakers that "the post-bailout period for Greece begins today," warning that...

  • *GREECE WON'T ACCEPT BAILOUT TERMS DEEPENING CRISIS: VAROUFAKIS
  • *VAROUFAKIS: WE DON'T SEEK A CLASH, WE ARE AWARE OF PROSPECT

Demanding a new loan contract with partners, Varoufakis concluded that Greece "seeks an honest anti-bailout agreement." Not what the EU wants to hear...

Varoufakis added:

  • *GREECE WANTS A NEW LOAN CONTRACT WITH PARTNERS, VAROUFAKIS SAYS
  • *VAROUFAKIS: ONE SHOULD BE READY FOR CLASH IN ORDER TO NEGOTIATE
  • *VAROUFAKIS: I WON'T PLAY GAME THEORY WITH GREECE'S FATE
  • *GREEK FINANCE MINISTER SAYS 30 PCT OF BAILOUT IS TOXIC AND WE WILL REJECT IT
  • *VAROUFAKIS: GREECE WON'T REJECT TAX SYSTEM REFORM
  • *VAROUFAKIS: GREECE TO SEEK HONEST ANTI-BAILOUT AGREEMENT

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NoIdea's picture

whatever the outcome is it's bullish for stocks

EscapeKey's picture

It's the second, third, er fourth coming of STOCKS SURGE ON GREEK HOPE.

SheepRevolution's picture
Here's what I would do: 1. Exit eurozone 2. Enter drachma 3. Print the amount of necessary currency to repay all debt held by foreign nations 4. Exit drachma 5. Enter real money: gold and silver with no less then 100% fractional reserve lending system 6. Troijka destroyed.
Newsboy's picture

I'm braced.

Keep Greece; change the EU. 

Keep the EU, too.

Pool Shark's picture

 

 

ECB: "Our QE will blot out the sun."

Greece: "Then we will default in the shade."

ECB: "This is madness!"

Greece:  "No. THIS IS ATHENS!!!!"


 

WayBehind's picture

Is it "Clash" or "Crash" ? whatever ...

pods's picture

You owe the EU a million Euros, it is your problem.

You owe the EU more Euros than you can possibly ever repay, well that is the EU's problem.

pods

Pool Shark's picture

 

 

"GREEK FINANCE MINISTER SAYS 30 PCT OF BAILOUT IS TOXIC..."

 

I think his estimate is a bit low...

 

funthea's picture

Apparently, Greece is filled with terrorists at the highest level of this new government and needs to be invaded, post haste.

90's Child's picture

Just like the 'Occupation of Ruhr'

How long until we see the "Occupation of Athens"?

cnmcdee's picture

This is not madness... THIS . IS. SPARTA!...

https://www.youtube.com/watch?v=QkWS9PiXekE

It'd be so awesome if the Greek Prime Minister turned the negotiating table into a Kill Bill scene.. pfft pfftt pftttt!!!!!

PTR's picture

How long until we see the "Occupation of Athens"?

 

When we find out that debt was paid down due to the proceeds of "significant investments" in Greek infrastructure by China and/or Russia.  Could probably include India into that sphere.

 

Then we'd see NATO organizing exercises in the immediate vicinity.

Oh, and some of those troops would remain in Greece because they were for Cyprus, but it was decided to actually deploy them in Cyprus would cause more geopolitical tension than needed.

 


F0ster's picture

The only plan that works is to 100% walk away (default) on the debt, reissue the Drachma, watch the EU crash and start again. Then watch the domino's drop as every other weak Euro nation votes in their Yanis clones.

youngman's picture

You left out the people who will be starving..homeless...and cold....and still without a job other than going thru trash dumps looking for food....but then again..they al; partied at the feast when it was good...so now its diet time...

F0ster's picture

True, but I'd rather diet on 'my' terms and not Merkal's/Draghi's. 

deja's picture

They're already starving, homeless, cold and without jobs.

 

1000yrdstare's picture

It's starting to warm up nicely...someone quoted a few years ago that first quarter 2015 is gonna be interesting, did not believe at the time due to the many collapse predictions and the failure for some people to realize how long the powers that be can kick the can, seems to be coming to fruition. time get more popcorn...and ammo.

cnmcdee's picture

Governments running debts ARE TOTAL BULLSHIT! Why should they run *any* debt when they have the ability to print currency to fund their operations?  The problem is the government decides it's own budget -the counter-balance must come from the people (aka  vote cards deciding spending)

Secondly Government departments should be rewarded for the percentage they come under budget - not rewarded with an equal budget for next year because they recycled pencils all year till March madness came along and then blew billions.

lasvegaspersona's picture

You do not even need a vote...the 'people' always want just a little more.

edotabin's picture

yes, it is a shit show

Badself's picture

Now that adds significantly to the dialogue..... LOL 

Kaiser Sousa's picture

and the Dow rallies....

from MarketFarce...

"U.S. stocks climb on Greece deal hopes."

semperfi's picture

next up:  gold & silver get smashed lower

Kaiser Sousa's picture

of course..

it makes sense dont it?????

cnmcdee's picture

Greece defaults, and it is spun to be a good thing..

3:30 ramp - do I have the timing right?

Forget one puking unicorn we need like a herd of them all shitting skittles and puking rainbows as they strut along the Milan runway!!

Someone has to make a ad lib verision of 300..

noben's picture

"Father knows best. Wall St knows best."

How many frikking TEOTWAWKIs have been called here? At least a thousand.

Facts are facts, and stats are stats, no matter what libertarian theory claims.

Until libertarians (and Austrian economics theorists) take over the Wall St Casino, I'm betting on the 'Wall St Casino', not Austrian theory pundits and Doomsday. I'd be mathematically retarded to do otherwise.

Joebloinvestor's picture

Given Greeces history, the loan "partners" would be better off setting fire to a pile of money.

elegance's picture

That scene from 300 completely applies here. Only problems the roles are reversed. Its Eurozone pushing Greece towards the hole, getting ready to kick it in.

realWhiteNight123129's picture

Well the difference is that Greece is strapped to the EURO. THey plunge and the rest does as well.

Greece is fucked with the debt pile, so either EU renogiates the debt gently and Greece can avoid turbulence, or they don´t and Greece exits the EURO, faces massive problems in the short term be re-introducing the Drachma but eventually will return to growth while its debt is repudiated.

That is why the Greeks are so bold. They know they are fucked and the only way is to recut the debt or repudiate it. If they stay in this debt overhang which they can not inflate away, they are permanently in depression.

Austerity without debt recut does not work. Bad debt has to be destroyed, either through inflation (a form or default) or by outright default (when they do not print the currency).

A DESPERATE IS EXTREMELY DANGEROUS, BECAUSE HE DOES NOT HAVE MUCH TO LOSE. Keeping the debt pile makes the situation desperate for Greece.

 

Philo Beddoe's picture

Somebody fed all the black swans poison. 

YouSerious's picture

How retarded is this new FinMIn? its like teenagers being allowed to rule a country

HonkyShogun's picture

The only retards are the ones who think odious debt will be repaid.

somecallmetimmah's picture

Indeed.  And those who believe getting kicked out of the EU = freedom & prosperity are smoking what, exactly?

realWhiteNight123129's picture

They will not get kicked out of EU, just the EURO.

EU is an instrument of oppression and an economic tool to achieve supra-natioal goals. European nations are proud and went to break the shackles of the EU.

 

Sandmann's picture

Better to have a Geithner or a Paulson boosting their own personal fortunes

skepsis101's picture

Are "YOU SERIOUS"? Apparently (reading your personal bio) the new Greek FinMin is over "over-educated" and "well laid", unlike yourself. And yes, I am serious!!

observer007's picture

Greek bailout near

Greece moving closer to bailout compromise, before…

Eurogroup chairman Jeroen Dijsselbloem on Tuesday extended an olive branch to Athens a day ahead of a crucial meeting to discuss the stand-off over Greece's bailout, saying he was "extremely willing" to work for a solution.

and:

Greece may turn to Russia or China for financial help -…

latest:

http://tersee.com/#!q=greece&t=text

 

 

 

Sandmann's picture

Steinmeier is Foreign Minister and there is no role for a Foreign Minister in EU Finance Policy. Plus, Steinmeier was SDC to Schroeder when Greece was admitted to the Euro as a result of France and Germany bending the Stability & Growth Pacty in 2004 when they both fell through its parameters

Soul Glow's picture

Leeeeet's get reDY TO RUMBLE!!!!!!!!!!!!!!!!

Anasteus's picture

Yanis' proposals are rational and legitimate. Now we can be watching how these proposals will be being refused one by one revealing the inability of the other side to reflect the new reality of these days... until everyone else realizes their utter incompetence to lead anything.

It seems the complexity of the world has just reached the threshold of their understanding.

glenlloyd's picture

My money is on Varoufaukis punching Steinmeier in the face and then breaking that finger off.

Elliptico's picture

These are Sparta's walls.

JenkinsLane's picture

Freeeeeeeeeeeeeeeeedoooooooooooooommmmmmmmmmmm!

[Mel Gibson in Braveheart with war paint on photo.]

slackrabbit's picture

Wow....the new greek word in odious debt payment.

Mercuryquicksilver's picture

Imagine a bank demanding that a defaulting homeowner take out an additional mortgage in order to service the first mortgage under threat of foreclosure if he does not.

 

The end result is entirely evident. The bet is when and how much human suffering.