Greek FinMin Varoufakis "It's Plan A, There Is No Plan B" Press Conference - Live Feed

Tyler Durden's picture

We've heard the Eurogroup's side, now it is Greece's turn...

  • *GREECE'S VAROUFAKIS SAYS EUROGROUP TALKS WERE 'COLLEGIAL'
  • *VAROUFAKIS: GREECE SEEKING 'SUSTAINABLE LONG-TERM CONTRACT'
  • *VAROUFAKIS SAYS `NO DOUBT' GREECE WILL STRIKE AID ACCORD
  • *VAROUFAKIS: ILLOGICAL TO ASK GREECE TO COMPLETE PLAN IT REJECTS
  • *VAROUFAKIS: GREECE WAS `HAPPY' WITH DRAFT TEXT FROM MOSCOVICI
  • *VAROUFAKIS: GREECE PREPARED TO TAKE NO BUDGET-BUSTING ACTION
  • *VAROUFAKIS: GREECE REJECTS ANY RECESSION-INDUCING MEASURES
  • *VAROUFAKIS: GREECE WANTS MORE THAN COSMETIC CHANGES TO RESCUE
  • *VAROUFAKIS: GREECE UNHAPPY WITH EUROGROUP'S `FLEXIBILITY' TERM
  • *VAROUFAKIS: GREECE EXPECTS EUROGROUP TO DROP ULTIMATUM
  • *VAROUFAKIS: GREECE `READY AND WILLING' TO DO WHATEVER IT TAKES
  • *VAROUFAKIS: GREECE WANTS `HONORABLE SETTLEMENT'
  • *VAROUFAKIS SAYS GREECE ISN'T BLUFFING, HAS NO PLAN B
  • *VAROUFAKIS: GREECE WILL REMAIN MEMBER OF EURO AREA
  • *VAROUFAKIS: GREEK GOVERNMENT IS PRO-EUROPEAN TRUTH TELLER
  • *VAROUFAKIS SAYS GREECE SHOULDN'T BE TREATED AS DEBT COLONY

 

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Live Feed

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Just for clarity - here is the difference between Troike expectations and the reality that occurred in Greece...

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cossack55's picture

He obviously did not attend the Buckeyes/Ducks game. 

Haus-Targaryen's picture

He had me until "The Greek government is a pro-European government." 

Fool.  

BC6's picture

Silly Greeks ... the IMF meant non-GAAP GDP and the U-3 employment index.

Haus-Targaryen's picture

I would have preferred a press confrence going along these lines; 

"Hello ladies and gentlemen. Thank you for your time. I am going to issue a statement, and then take questions.

ehem (clears throat)

It is the position of the Greek government to burn this entire motherfucker to the ground unless they give us exactly what we want, and that now includes Mario Draghi doing all future press conferences in drag.

Thank you for your attention. Any questions?" 

Bernoulli's picture

That is pretty much what he was saying. Didn't you hear it? There is absolutely no way out. They want to negotiate a "contract" as "partners", not a "program" for debt slaves.

And the TAFKAT (The association formerly known as Troika) cannot (CANNOT) let this happen, because it means that everybody and their mother would come and renegotiate as partners.

So GAME OVER. Just in nicer words.

(I wouldn't want to be the bodyguard of Varoufakis...)

Nussi34's picture

Free Europe from the EU and the EURO!

Augustus's picture

He had me until "The Greek government is a pro-European government."

Fool.

 

What he meant was that "Greek government promises to take money from all of Europe."

Aristofanes's picture

It is called diplomacy.

Dont worry.

Truther's picture

Now we can play catch. I will go first.

realWhiteNight123129's picture

Varoufakis has some balls. He is not afraid of bank runs.... It is better to default than be stuck for 20 years with unrepayable debt... No Japan scenario for Greece, well done Mr. Varoufakis... (Theseus).

 

somecallmetimmah's picture

Ha! Ha! Ha, yeah, we'll see, tough guy.....in 2 weeks the only balls he'll have, will be Angela Merkel's balls, swishing in his mouth.

ParkAveFlasher's picture

I'll wait for history to prove whether or not Varoufakis is just another status-quo statist vampire.

youngman's picture

Yes I bet he is stalling until they can get that latest 5 billion out of the banks the ECB just gave them....get it while its free....

tbagonya's picture

merkel tbags varoufakis! now we're getting somewhere

burocracy's picture

problem is, he is not a "player". he would not know a financial market from a moose. as many if not all university professors do, he underestimates the consequences of what he is proposing. In this case he's overestimating domestic support: Yes, the Greeks go to Syntagma Square to show support for him, but only in between going to the ATMs to withdraw Euros from their bank accounts.

he's also misrepresenting the stakes on the table, which are anyway asymmetrical: the EU has already put a lot of money into Greece, and he thinks that they will throw good money after the bad, as all politicians do. the EU thinks instead that good politicians throw good money after the bad only AFTER they've checked which part of their own constituencies will benefit. In this particular case, the answer is "none". True, they will have to own up to the fact that Greece was a basket case, as economic leaders go, and the EU has a fairly low bar. But Varoufakis himself has said, and that's the measure of the idiocy, that Greece will never repay that debt: why should it repay the new one? yes, the hat will pass through the pews to give some hardship money: but no leader, not even old Maggie, would have found the guts to go to the people to say:" i'll tax you so that some greeks can be paid for imaginary work".

11b40's picture

Didn't you get the memo? Screw the taxpayers. Bond holders want to be paid. Hit Ctrl P.

The Duke of New York A No.1's picture

Who's getting the HAIR CUTS? .... and how much do they get taken off?.

Eyeroller's picture

Flowbee's cut the perfect mullet.  How appropriate!

Bryan's picture

I'm thinking of bailing out Greece myself.  Maybe they'll accept my $10 offer.  I'll offer $20 if they promise all the gyros I can eat for one full year.

williambanzai7's picture

.

 

And Black is White...

Haus-Targaryen's picture

This might be the best one you have ever done. 

Haus-Targaryen's picture

For those of you who don't read German, the sign "Arbeit Macht Frei" was changed to "Schuld Macht Frei" or translated into "Debt leads to freedom" 

ebworthen's picture

He's buying time before the Grexit - playing their game - I hope.

Sir SpeaksALot's picture

and I am still very afraid Greece will cave in in last second, or they will be kiled, or bought, or something... I want EU broken so much...

brooklynlou's picture

The can't. Greece will be the Georgia of the EU. Worlds biggest debt colony.

HardlyZero's picture

Dr. V whips out some Vulcan "logic"...he is the only man there !

ILLOGICAL TO ASK GREECE TO COMPLETE PLAN IT REJECTS

The Wizard's picture

Notice his highlight of the terms "deception" and "flexibility".

In order to effectively play the game one has to know the motives of the other side.

Are they sure those unemployment rates in the chart do not represent the U.S?

Germany vs. Greece a short clip

The world stage is watching

https://www.youtube.com/watch?v=-2gJamguN04#t=79  

LetThemEatRand's picture

Great quote just now from the conference (responding to a question about which game he's playing):  "I've never played Monolopy with fake money.  I've always played Monopoly with real Monopoly money."

adonisdemilo's picture

IMF forecasts are a combination of wishful thinking and uneducated guesses based on how much bullshit they think they can get away with.

trader1's picture

Varoufakis is the Man!

somecallmetimmah's picture

Somebody gotz a bad case o' the stupids.

trader1's picture

he gives better press conferences than draghi

 

Joebloinvestor's picture

Greece will make an agreement then renege on it.

Repeat as often as history allows.

i_call_you_my_base's picture

*VAROUFAKIS SAYS `NO DOUBT' GREECE WILL STRIKE AID ACCORD

I don't get why you would say this when negotiating. For the Greek banks?

somecallmetimmah's picture

...unless he has already conceded, that is....

smacker's picture

The unspoken problem that Tsipras will have if he gets the EU-crats to roll over is that he will then have to rely on the Greek people to roll up their sleeves and get the economy going. Right now it's still shrinking. And many Greeks have become accustomed to living the life of Reilly for years and may not rise to the challenge. Then what?

somecallmetimmah's picture

".... rely on the Greek people to roll up their sleeves..."

Yeah, that's not such a good idea, is it?

cossack55's picture

Then they will apply to be the US 51st state. They will fit right in.

7againstThebes's picture

Make that 52.

Israel is 51.

Oops, no, Israel is 1.

Alaska is 51.

optimator's picture

"What a revoltin developement this is".

kamakaze's picture

every Greek should roll up the singlets and open a Beach Bar

Socratic Dog's picture

It's worth remembering what 300 Greeks managed to do at the Hot Gates of Thermopylae.

Just like the Japanese, the Greeks have a nascent warrior spirit.  Push them too far, and it comes out.  Again.

They're in a depression.  My guess is that the warrior within is a lot closer to the surface than it is in this country right now.

Inthemix96's picture

Mr Varoufakis, just make them prove this debt wasnt 'Odious' debt placed on the back of your countrymen with fucking interest added.

And then tell them to fuck right off.  People round the world stand by your side my friend, and I am one of them.

;-)

Augustus's picture

It was the majority of Greek citizens, using the system of Democray to choose leaders, who enjoyed the benefits of spending the money, assets, and wealth of others.  That same system brought them the burden of giving their future (today is yesterday's future) in repayment.

 

They voted for it and now they are getting what they bragained for.  And getting it very very vigorously.

Inthemix96's picture

You must be one of them nutters I was told to stay away from Augutus, while being a fucking child.

Idiot cunt, fuck off and bother someone that gives two fucks you clown.  The Greek population you cunt, had no say that this money was borrowed against already printed debt you cuntish clown.

Go and bother somone that gives a fuck son.

Idiot

:-)

saulysw's picture

Just because you CAN talk like that here, does not mean you SHOULD. Save it for when it really means something.