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Schauble Gives Athens Another 10-Day Ultimatum, Says "Up To Greek Government If It Wants To Keep Euro"
Those who thought yesterday's trial balloon headline barrage would be bad, you ain't seen nothing yet. It all started with Spain's economy minister who knows if the Greek revolt gains traction his career will be cut short by a Podemos surge, said:
- THERE IS NO ULTIMATUM FOR GREECE
Which is ironic considering it was just back on February 6 when Eurogroup head DieselBoom explicitly gave Greece an ultimatum...
- GREECE MUST APPLY FOR BAILOUT EXTENSION ON FEB 16 AT THE LATEST
... and ultimatum Greece has soundly ignored. And therein lies the rub, because Europe is not used to being ignore, and certainly not used to having its non-ultimatum ultimatums snubbed.
Which is why moments ago the biggest gun of all, German FinMin Schauble came out, with the following:
- SCHAEUBLE SAYS GREECE MUST DECIDE WHETHER IT WANTS A PROGRAM
It already has: the answer is no.
- SCHAEUBLE SAYS GREEK SITUATION ISN'T GETTING BETTER
Wait, what? It was only a year ago when both the IMF's Christine Lagarde and then-Greek PM Samaras were praising the Grecovery. Were they lying, or was the "W" in Wreckovery silent.
And finally, the gloves has fully come off:
- SCHAUEBLE: UP TO GREEK GOVT TO DECIDE IF IT WANTS TO KEEP EURO
Because at the end of the day, this is the biggest leverage Europe has: as Greece continues to play hard to catch, Europe has finally made it clear that it never was about reform, or democratic process, or anything that idealistic socialists find near and dear. No: it was always and only about the artificial currency, without which trillions in legacy wealth will disappear into thin air, as will German's export miracle.
So just in case the first Ultimatum was not clear enough, here is the second and final one:
- SCHAEUBLE: GREEK PROGRAM EXTENSION BACKING NEEDED BY FEB. 27
And as everyone knows, if it isn't Germany's way, it is the Autobahn. Which reminds us: perhaps for Greece it is time for another call into the Eurasian Economic Union?
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The next Greek speech needs to point out how Europe is full of shit, that's it's all a bluff and that it's Greece that holds all the cards... That if Greece leaves, Deutsche Bank is fucked due to all the derivatives...
Just saying that in a national speech would screw Germany... which would be even funnier.
I smell victory
I just love how little Greece is simply steamrolling over Brussels.
Gives Athens Another 10-Day Ultimatum
It's double dog serious now...
What is it about the word "No" that you don't understand?
Another step #FOARWARD for Yosemite Sam
1 Day Extension... 2 Day Extension... 10 Day Extension... WTF EU ???
You Are Bluffing, Buying Time, Shuffling, Bullshitting...
GET Some BALLZ, Make A Fucking Decission...
Am I the only one tired of reading Greek news?
You better pack a bag because this is gonna drag out a longgg time.........heheheheh
Ahhh... Greece.
Sitting astride the flanks of the EU, destiny penetrates their hopes & dreams. One moment, pressing the rebellion against the soft, yielding Euro. The next, long, hard austerity measures are thrust upon them.
Everything just keeps sliding back & forth in Greece. Slowly. Slowly
Hey Knuckles, the Greeks carved a big "OXI" (NO!) on a mountainside during WW2 when the Germans demanded surrender. They have some experience at telling them to fuck off.
I love the smell of desperate Germans in the morning.
Throw the bums out. Let them leech off of China and Russia for awhile. Let the chips fall where they will.
Perhaps there is some confusion over nein versus nine
Triple dog dare them, this is typical progressive bullshit, talking about what they want, not what they can afford.
http://i.imgur.com/MVJGWdT.jpg
alright greece you get 10 more days, or else Schauble gets it!
https://www.youtube.com/watch?v=WGKUnFjzgPs
I don’t think Schaueble realizes that the Greeks regard the Euro to be more like Stuxnet than money.
Odd choice of analogy given that Siemens greased their way to the heart of Greek politics with quite a few ..special suitcases
Odd choice of analogy given that Siemens greased their way to the heart of Greek politics with quite a few ..special suitcases
SCHAEUBLE: GREEK PROGRAM EXTENSION BACKING NEEDED BY FEB. 27 translation: extension backing needed right before ECB QE to begin
They gave Schäuble a break...but he will flinch, as he always does.
If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem.
J. Paul Getty.
My GrandMothers' Co-Worker's Step-Sister makes $15,00 at McDonalds due to the minimum wage increase. Her monthly check is $1,044.17. For details check www.Krugmans-Beard.com.
The brother of my presidents party donor makes 5 million US$ per day with rsik-free high frequency trading thanks to non-existent regulations.
"Time to consume mass quantities"
~ Beldar Cohenhead
Which he most certainly did.
Warning: may contain traces of Fed semen.
Bend em over the barell, bleed em dry, then take the Russian deal. By that time there won't be a Euro anyway.
Win
Win
Win.
The German taxpayers would probably end up bailing out Douche bank.
...again
Through the front door as opposed to the greek back door.
Wait, that doesn't sound right.
The German (and Japanese and Korean and Chinese) tax payer(s) has(have) been bailing out American foodstampers since decades - thanks to how trade surplusses are dealt with. A few more Greeks to feed through - that doesn't make a difference.
Exactly, just a blackmail bullshit. No cards in hands. Yet another ultimatum after ultimatum of the previous ultimatum... until they accept all substantial Greek conditions.
Idiots!
By the way, the interesting thing is how Deutschland starts appearing like Hitler's Deutschland in 30s.
* * *
How the heck dare you, Germans, dictate what a souvereign country should look like?! Didn't you learn anything from history?!
"How the heck dare you, Germans, dictate what a souvereign country should look like?"
Darn right. That is the US' job.
>>By the way, the interesting thing is how Deutschland starts appearing like Hitler's Deutschland in 30s.<<
Do you have a brain or is it just Ouzo
and Olive Oil in between your flappy ears?
Silly little bean.
Deutsche will be gladly saved by fiscal power of German taxpayers as they have a plan and a valid business model other than corrupt and rotten Greece.
Greece taxpayers owe their "government" and country 5bill Euro in 2014! What does their "government" do about that? Not to speak of their culture of non-paying taxes for decades!
Italy and France do not care anymore nor does yours truly.
Kick them out, finally!
The EU politicians all lose if Greece leaves. The EU and Euro all implodes and so there is no way in hell there is going to be a Grexit. Not yet anyway.
My bet is on Grexit and some bank write-offs.
That's right, lolmao500.
As I have been saying, they must print moar and give it to Greece. Bondholders want to be paid. Banks go bust if the derivatives daisy chain blows up, and greece hold the clapper.
https://images.search.yahoo.com/images/view;_ylt=AwrTcdNAXuNUa7oAGyonnIl...
The Greek government is a bunch off silly buttfuckers!
Carbon copy generator?
So the EU is the bottom?
Paper work had to be done by yesterday so ur fucked, keep singing though.
Sounds bullish. I'm selling all my gold and going all in long on stocks here
>>Sounds bullish. I'm selling all my gold and going all in long on stocks here<<
My rec for you: Cheap Greek stocks...
phh... system double posted - must be my skirt...
only to gain time before ECB QE !!!!
fuck the new world order
Indeed 25 bln from the Russians and 25 bln from China and no debt because you cancell that makes a pretty good living for the Greek. As a small bonus you blow up the Western banking system.
good call Farmer.....make it interesting, Russia gives them RUBLES and China gives them RMB. It's the near perfect combo. We know what they do with RUBLES (buy oil)
"Is this an ultimatum? Answer me, you ball-busting, castrating, son of a cunt bitch! Is this an ultimatum or not?" Jack Nicholson, Carnal Knowledge.
He looks more than Rumpelstilzkin
SCHAEUBLE: BOY I WOULD REALLY THINK TWICE ABOUT HOLDING DEPOSITS IN GREEK BANKS SMILEY WINK FACE.
I know in this world of auto correct and contextual meaning I should be concerned about spelling and what not. But damn, Tyler...can you take a second to proofread. Your stuff has been choppy as shit lately. Another minute to re-read your writing will not mean the end to ZH.
They can't help it, they're Russian!
And most of the readers are American, so why bother?
FUCK YOU BERNAN... oh wait
And that little gnome motherfucker Greenspan too.
So to paraphrase Schaeuble, he will gladly pay them Tuesday for a hamburger today, and if that does not pan out, we will revisit the dead horse corpse and move to a week from Tues, et al.
This is so predictable it's on the same plane as a bad soap opera.
Switch to the Dollar. Problem solved - for a while.
Hmmmmm, they just keep moving the redobamyline....
Cross this line! :http://youtu.be/zkzWyOaS8kU
Will these Greek dramas ever end?
<--- Tragedy
<--- Comedy
The two main forms of Greek Drama
Drama will add a ch ...Dra ch ma.
Ha! The EU keeps wanting Greece to "step over the line". Here is what will happen....courtesy of Bugs Bunny and Yosemite Sam...
https://www.youtube.com/watch?v=zkzWyOaS8kU
Typical progressive bullshit, spining it as what they "want", not what they can afford.
Nigel Farage could you show these Greeks how to tell the EU to go shit in its hat please.
EU unelected reps will cave completely to Greek demand of a debt writedown. They need to keep their jobs.
The EU needs its own navy for gunboat diplomacy. The Only thing the dollar has going for it.
RUSSIA HERE WE COME!!!
Drachmubles!
Drachmubles! That actually hold value!
Unlike Euros that require WWIII!!!
Great analysis Tyler, it's looking like its the autobahn.
Is this also, "the way Greece goes, so go the PIIgS?"
Hahaha :)
Greece will have won this shit, since the best win scenario is leaving the eurozone.
staying it it will never allow recovery. because there is no true recovery (nor economic freedom in this matter) when the nation has no control over its official currency supply.
Greece!!! pls just leave the zone and start to excersie your long forgotten freedom!
Penultimatum
SCHAEUBLE: GREECE NEEDS TO LISTEN TO WHAT I JUST SAID
SCHAEUBLE: GREEK FINANCE MINISTER NEEDS TO WEAR TIE, STOP SMIRKING
SCHAEUBLE: <TAP> <TAP> HELLO 1 2 3 <TAP> <SCREEEECH>
my guess...YahooFakeAss will soon be submitting his resignation...
SCHAEUBLE, Shut the Fuck Up! NAZI Banking Bastard!
You're on Double Secret Probation!!
I mean it this time. No more Delta ...
What the hell is this? This sounds like the tactic the police in France and England use because they have no guns.
Stop or I'll say stop again.
From the wording of the proposal the Greek finance minister was willing to sign yesterday, the Greek Gov't is very much willing to fold on this. They just don't want to put specifics down now. They just want to agree on a framework for what an agreement will be and then work out the details in 6 months. The German gov't is saying "put an actual offer on the table. But right now, you're paying what you owe." There's still nothing to negotiate.
The problem is that the Marxist Greek gov't doesn't want to appear like it's folding or be blamed for a deflationary crisis. They're running out of time. The ECB and the EU could grant them a stay on this whenever they want. But they're forcing their hand to make a decision.
All of this is a giant cock contest to show who's boss. It's all central banking is ever about: control.
If you're an actual Greek citizen, you could flex your muscles by just saying "no more taxes". An actual tax revolt. Not this bullshit. Then there's no way a no-tie-wearing, untucked shirt Marxist assbag could sell you out, which is exactly what's about to happen.
Slip Schaeuble (the CDU bagman) a plain brown envelope stuffed full of cash. That is something he is known to relate to.
http://en.wikipedia.org/wiki/CDU_donations_scandal
another 10 days..what is it about these politicians that they cant make a decision...and move on to the next problem...its always delay..delay..and delay some more....in Private business you have to make decisions on a daily basis..and then stick to them....ask the question idiots....ask Greece point blank..are they in or are they out....if they shuffle...get up from the table and walk away...for good...
Fuck the European Union . We want our godddam sovereignty back in the Netherlands and many countries are feelign same way.
Dutchboy-"We want our godddam sovereignty back in the Netherlands and many countries are feelign same way."
You're not kidding. You should try living in California sometime where the majority of people vote for something and a federal judge comes along and says i don't think so.
The Latin Monetary Union (LMU) was a 19th-century attempt to unify several European currencies into a single currency that could be used in all the member states, at a time when most national currencies were still made out of gold and silver. It was established in 1865 and disbanded in 1927........
Greece also caused problems. According to the BBC, "its chronically weak economy meant successive Greek governments responded by decreasing the amount of gold in their coins,[20] thereby debasing their currency in relation to those of other nations in the union and in violation of the original agreement". Greece was formally expelled from the Latin Monetary Union in 1908. It was readmitted in 1910, however.[21]
More>https://en.wikipedia.org/wiki/Latin_Monetary_Union
I stilll have some Guilders and Deutsch Marks squirreled away just in case. Live 15 minutes from German border. Everything however now here is done by debit card , almost . seldom carry cash.
I am cash only.
card users are idiots.
Some places you have no choice. Did you call me an idiot? You must be an Americunt fucktard,. Doesn't know shit from shinola.
Is that bag over your head the same one you use on your wife when you want to fuck her? I bet you also have to roll her in flour to find the wet spot.
Yes. I have some gold 20 French Franc, 20 Italian Lira, and 20 Swiss Franc coins. They are all the same size and contain 0.1867 ounces of gold. These were used during the LMU period (and even before and after) that you refer to. They are all worth about $230 plus about a $10 premium. They were minted by the millions and have no rarity value for the most part.
the name of the game is bailout, and it will happen. the rest is just entertainment
Syriza sellout in 3...2...1?
"I call your ultimatum and raise you a no, hell no and fuck no..."
I don't understand how Greece leaving the Euro will make the Euro devalue. Isn't the Euro like a tethered bunch of hikers with Greece the fat guy at the end, holding everyone up?
I would think the Euro would increase in value upon losing them. I would hypothesize the fear appears to be the apparent stability of the remaining members. Are France, Italy, Spain, Portugal, and Ireland much better/worse?
I think a Northern Euro would make most sense:
Germany, Luxembourg, Netherlands, Belgium, Austria, and Finland- call it good.
I have lived and worked in Germany, Luxemourg and Netherlands where I now reside. Paid into their social security systems and also USA system. Luxembourg pays the most pension and Germany second. USA third. I collect from all those countries LEGALLY.
Unfortunately, you won't be collecting much longer. Or, what you do collect will have only enough value left to pay your electric bill.
The fat guy at the end of the line of hikers is also the one who owes everybody else money, and he won't have it in hand until the end of the trip.
It's not so much that Greece will leave the Eurozone, but that they will Default (with a capital D) on all those debts to EU banks. EU banks are already shaky and $300 billion worth of Default could make them fall over like dominos.
Hope and Change baby.
It's time to fundamentally transform some other countries now!
Yes European countries should all go back to their own currencies and the EU in Brussels should be disbanned. PERIOD
I hate this movie....they keep changing the ending...and I am out of popcorn and pop,,,,I want to go home..I have to work tomorrow...just get it over with...
What will happen after she reaches 10?
I think mommy is bluffing.
Then the ECB QE starts, which will be used to buy up all the toxic debt and NOT stimulate the economy.... exactly as planned. How convenient
Disband that NATO Nazis and the European Union clowns in Brussels. Goi back the way it was in 1998, Worked fine and then they fucked it up.
Brother, can you spare a dime?
Now Hungary is makig deals with Vlad. The Useless Snakes is head banging. hahahaha. Come one Russia and China, just BUY all of Greece and tell the West to go pound sand,.
Another 10 days of pre-market gold and silver smashes?
I dont know!
Greece fits here
The Group of 77 - Member Stateshttp://www.g77.org/doc/members.html
The Group of 77 - Member States
they have a different kind of "New World Order" in mind
June 17, 2014. Bolivia. (ONN) The American and European media are doing everything they can to black this news out. But it’s not going to stay a secret for long. As of this weekend, there’s a new New World Order on Earth and its enemy is the United States, the EU, the UN Security Council and the world’s shadow government led by the IMF and WTO.
Developing Nations Denounce US Imperialism, Welcome Russia, China “Inclusive” Development, but without the United States“Very pleased, very happy,” were the words that President Morales used during his speech to reflect on the expulsion of US Ambassador Philip Goldberg from Bolivia, along with the DEA and USAID agencies: “Now there’s no need to ask for permission from the US Embassy… we indigenous people have been the victims of different empires.”
Morales also took the opportunity to warn about the possibility of “a second Vietnam” in Latin America if the US “aggression” towards Venezuela continued. After his strong remarks, the Bolivian president publicly invited Russia to join the the bloc.
This kind of discourse, he says, “has had an important impact on Latin America, and has become the flag for left-wing groups and parties.” Since the bloc’s anti-imperialism speech is directly aimed towards United States, it’s expected that these countries look favorably upon other powers that are outside the regional scope, such as Russia and China.
What a coincidence! The ECB QE starts in 13 days.
10 day extension for what exactly? Since negotiations are at stalemate and there appears no chance of the Greeks backing down for some more of their infinite beggardom, it just feels ominous that Schaueble would extend the deadline.
From the very beginning of this debacle, I felt that this isn't just about servicing a "measly" €360 billion debt, nor is it exclusively about the Euro. It's about the derivative trades active in the system - several trillion dollars worth - in the major financial capitals in the world. Since it is all off-book, nobody knows exactly how much and how many entities are involved. The systemic stupidity of this situation is just mindboggling. Depending on just how much is involved, we could be looking at the collapse of the entire financial system.
I reckon, and this is pure conjecture from past disclosures, that almost all the major banks in the open market committees of the Fed, including the bloated Deutche Bank, JP Morgan et al will collapse if Greece defaults. Sounds unthinkable but we know that potentially there are tens or even hundreds of trillions of dollars at stake here. It is not as fanciful as it may first appear. What's even more laughable is the fact that these positions are often leveraged to the hilt.
So that 10 day extension to me sounds ominous. 10 days to prevent anyone saying the dreaded, "Credit event" that starts the dominoes to fall. A glance at history shows that the banks can and will show their hand as ruthless masters when their profits are at stake, let alone their survival. I would not put it past them to murder every Syriza member to get their way. After all, all wars are banker's wars and they have the entire MIC at their disposal to prevent this from taking place. Something is being brewed up.
I would advise all Syriza members to spend the next 10 days in an undisclosed nuclear bunker and conduct their negotiations via Skype. :)
Simply because they can't them throw out. Greece had to agree, but they want to stay in the Euro.
I get the impression Varoufakis has wheels in motion behind the scene and is buying time with extensions so when Greece leaves they hit the ground running.
The Eurasian Economic Union is looking for new members.
? ???????
???????
WTF,, hes only a cripple because his brain is too weak to move his legs and tongue at same time
Making Syriza a hero is a bit of a stretch. Shall I promise my family 'no more austerity' because my brother is well off from working hard and making good decisions? All of Syriza's promises require other people's money to fulfill. The bankers won't feel the pain. The industrious Northerners will. I'll make this simple: It ain't Davey and Goliath, it is the ant and the grasshopper.
BAHAHAHAHHAHAHAHA. This reminds me of Saddam and his "line in the sand.".
ECB: "You will accept our onerous conditions!"
Greece: "Erm no"
ECB: " "You will submit to our ridiculous demands!"
Greece: "Erm 'nein'?"
ECB: "THIS DEFIANCE HAS GONE ON LONG ENOUGH PEASANTS! BOW TO YOUR MASTERS!"
So, during the next ten days Greek Euro debt will grow,
And, since “time is money”,
we have even more proof that fiat money is debt, not to mention a political liability and risk for some creditors too.
As if anyone needed more proof of that.
The Irish paid the bond holders in 09 when their banks colapsed. I do not recall that when the government at the time were elected that they were contractually bound to pay junior bond holders of a private bank. It is amazing what governments are willing to spend when the tax payer pays. The Greek people are the first to shout stop. The system of funding governments and the complete corruption at government level dwarfs any corruption that society is guilty of in this insane world.
Why 10 days? Why not 10 years? I'd prefer 10 minutes.
Like the parent of a spoiled child.
one threat after another with nothing to back it up with...nothing.
come on GR call the bluff.
let the house of cards collapse, shaüble, the drag queen, mutti merkel
smoke and mirrors.
where is cameron in all of this, strangely silent for a pathological loud-mouth.