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German-Led Block Willing To Let Greece Leave Euro, ECB Prepares For Grexit
This is what peak bluffing looks like.
Moments after there was much hope for a deal, suddenly ze Germans yanked the carpet from under any potential leverage Greece may have though it had when the Maltese foreign minister said:
- GERMAN-LED BLOC WILLING TO LET GREECE LEAVE EURO, SCICLUNA SAYS
- "I think they’ve now reached a point where they will tell Greece if you really want to leave, leave"
This in turns follows minutes after a Spigel article said that the ECB prepares for Greek euro exit. From the article, google-translated:
The European Central Bank (ECB) is preparing for a Greek exit from the monetary union. To that effect, Employees by information obtained by SPIEGEL, an internal simulation games by how the rest of the euro zone could be held together.
Despite all the denials to urge the European monetary authorities the Greeks to finally introduce capital controls. According to the findings of the ECB, the Greeks have a day more than one billion euros abroad.
The International Monetary Fund ( IMF ) holds a Greek exit from the monetary union for the rest of the euro zone manageable. The Europeans had pulled up in recent years firewalls that may prevent skipping the crisis to other countries, according to Washington.
For a Greece leaving the euro zone would be related to the IMF, with significantly higher costs than if the country would be free to pursue further reform.
The bluffs will continue until one or the other sides admits defeat.
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HOORAY.
Good. Bring it on. Your turn Mr. Tsipras. Either do what you were elected to do, or be a bitch and bend over. Your choice.
Issue arrest warrants......make them run.
To be fair......give them a 10 day head start.
Now the shit hits the fan..
Imagine a world where Greece leaves the Euro and the SP soars to 2250 within a month. The fan eats shit for breakfast.
Prep bitches, the end is near(ing).
Let's get this thing rolling because we have a lot of work ahead of us before this illusion dies completely
fucki a ducki, quack quack
German led block? You mean everybody besides Greece?
Everybody besides Greece, Portugal, Spain, Italy, Ireland and France, to name a few...
Zee German-led block consists of Scheiseble, Dieselboom and Gollum.
"ECB prepares for Grexit"? Give me a break. This is like "FED prepares for rate hike".
They will do ANYTHING in their power to keep Greece in the Euro. And Greece knows it. This is why this could be fun to watch.
nope, it ain't fun at all coz we all know what 's gonna happen. they cannot leave.... if they do so, it is explosion of fracking with independentism movements all around the map...
make an exemple if you want to keep others under control...
those betting on grexit are fool as fuck.
let's see how far Greece will go. Tsipras and Varoufakis have nothing to lose. Only if they cave in.
I wouldn't bet on Grexit, but on loss of confidence in the Euro, the EU, and the Central banks "omnipotence"...
This could take a bit longer in the beginning, but could lead to an even bigger explosion at the end...
caution, i'm not saying this will not be dangerous for euro, i'm just saying about that "grexit" that from a pur statment about population and anti euro people, if you let some go away, then you have to talk with bretagne, corse, prolly couple of zones in spain, italy, and this is domino effect.
i just place my point of view from the 1st of the column, if you do not want them to fall, prevent the 1st to touch the others.
and the way to achieve this, is...money... TADAAAAAA.... they will got physical threats or accidents in their famillies if they refuse, that's how it works.
Greece doesn't HAVE to leave the Euro to default on the debt - see David Stockman's piece on ZH earlier.
http://www.zerohedge.com/news/2015-02-19/today%E2%80%99s-financial-therm...
DavidC
The Germans are so.......German.
jealous?
This would be correct, save for Bündnis 90/die Grünen, who give us all a bad name.
So reading between the lines you mean Bündnis 90/die Grünen will save Germany?
Jajajajajaja!
Raus mit den Pofickern!
Beware of German intransigence and stubbornness. It lead to a few world wars.
hopefully not more in the future ... at least lets hope
Nah, lesson learned. It´s much easier to rule Europe by sending a few accountants than sending a few Panzer divisions.
Next time Germany starts a world war, I hope somone is smart enough to let fly a few nuclear missiles towards the capitol cities. German hubris and arrogance is unlimited!
All wars are bankers wars. Wake the fuck up.
To be fair Germany has played foil to those bankers in a huge way. Twice.
Your average German family shouldn't have to pay the price. Just a few good snipers to take out the Shaubles and wolferls of the world.
double post
I'l huff, and I'll puff.....
...yet another bluff!
I double dutch dare ya to step over that line, dare ya. (it come down to kids in the school yard now does it)
Yer yella!
Penis jousting.
Yeah those German's are in such denial these days.
Yawn.. 2 stories down has the EUR and Greece working out a deal.
You've heard of pennies, steamrollers, & jawboning haven't you?
goddamn nazis ... fuck them
They were nazis, dude? Oh come on Donny, they were threatening castration. Are we going to split hairs here?
greece, hope you printed billions of euro's ready to go when germany shoots it self in the foot.
As long as they gave you lots of cash, they were your best friends. Now that they stopped, they are "nazis".
The Euro, the greatest peace project of all the time!
End the Euro, End the ECB, End the FED.
It takes two hands to clap - the Germans were quite willing to lend to Greece when it mean selling Porsches, Mercedes and the rest of German goods to them at low interest rates.
DavidC
Balls of Steel
Game of Chicken
Squeaky wheel gets the Greece:
img846.imageshack.us/img846/8647/tsirpasxgdftw0hedge.jpg
Being half Greek, I know what it's like when you enter from the back door, and the girl is not expecting it.
She wanted a quick exit too!
That's why the Greek girls called it "going Greek". Hellenica!
Babality
sub zero, wins, flawless victory.
double post..
Firewalls aka Capital controls ala Cyprus
Ze beatings will continue until moral hazard improves.
"the Greeks have a day more than one billion euros abroad."
Indeed. Thank you Google Translate. That's poetic at least, if not at all clear what it means.
My guess is this refers to some "news" I read somewhere else that the Greeks cashed out another 2 billion Euros from their bank accounts over the last two days (="a day more than one billion euros" and then they put them "abroad"??). well whatever...
In any case, it is so ironic that the Greeks
1) currently seem the only ones in the eurozone worried enough to pick up their cash from the banks
2) are given plenty of time to pick up their cash, courtesy of Super-Mario and his ELA
3) might be the ones ending up holding the most Euro bills per person when the shit will finally hit the fan (who will they give a haircut to?)
True irony is that this whole "show" is a tragedy/comedy.
Some things never change.
in German: "Nach Erkenntnissen der EZB überweisen die Griechen täglich mehr als eine Milliarde Euro ins Ausland"
(rough) translation:
"According to findings of the ECB the Greek each day transfer more than 1 billion Euros abroad"
[with 11,5 million inhabitants this would amount to about 900€ per Greek per day]
It's a poker stare battle to see who will get to print worthless paper money in the end.
NASDAQ 5000!....Europe will have to wait
cac40 too... insane levels
Everything is ' Manageable ', even i'm managing not to throw up this projectile of vomit bedded in the pits of my stomach.
Fuck the EU
Algos melting down now. Smoke seen coming out of the windows of the Citadel building.
these guys are going to exercise up and down until they going to throw up everything they have made so far and most of their capital ... unless ....
ALL news is good news until further notice O K A Y.
https://www.youtube.com/watch?v=qO-mSLxih-c
Maybe it would be best if Germany left the Euro!
Let all the rest of the deadbeats waddle in their own BS.
How bad would things have to be if you're desperate to keep Greece in your club?
It's not about Greece. It's about "we're all in this together and nobody ever leaves the building!"
Yes because if one party leaves and the illusion is destroyed, it's destroyed for everyone else as well...
lets rewrite the titanic: after iceberg hit, glurp glurp the crew members get rifles and seek for anyone swimming in the ocean, it is a fire at will to prevent anyone to flee and later tell the reel story.
the ship is sinking and glurp glurp glurp nobody is allowed to survive glurp glurp
Time for Greece to leave and join the Anti-Bolshevik Russian Federation. Bring to light the truth of the war on humanity the zionists have perpetrated for the last few hundred years, including but certainly not exclusive to 9/11, the world wars, the holohoax, the war on terror, and it goes on and on and on.
Perhaps the ECB truly believes that a GREXIT will not cause choas, because the ECB's money printing will mean yields on euro bonds will remain low regardless, and that's all that matters to the Brussels elite.
On the other hand, maybe they will be surprised the same way the fed was surprised when the fed didn't save Lehman and the world almost fell apart. Well, at least I hope they will
You had it right at the start. This is nothing that a printing press can't solve for the bankers. In the end the ECB will buy up all the sovereign debt in Europe.
The Great Standoff
Will it be Grexit
OR
Gerexit!! ( Germany presenting a facade while planning to do the exit from the Euro)
a small typo can be can turn out to be true
"This is what peak bluffing looks like."
The Germans ain't bluffing. They've looked at their bank account 10 years from now if Greece stays. It reads ZERO. It's a big fat Greek armageddon.
Funny how Tyler Turden posts an earth shaking headline ( in capital and bold letters) just to follow with some small print saying " thats what it looks like" meaning that what he think will happen. In the absence of another 2008 like crash, permabear websites like ZH come up with BS headlines to try to increase traffic. Thats why most of the serious posters are all gone. ZH each day looks more and more like CNBC.
There is no exit formula.
Time is not on the side of Greece, unless they have figured out how to meet next month's payroll without money.
And screaming bold font headlines hasn't worked for a long time.
EU is becoming Napoleon's dream of a unified europe...greece notwithstanding, interesting that states continue to line up to join, that Russia is becoming nervous at the new behemoth on its borders.
People forgetting how Germany was itself created from a hundred bickering princedoms. Merkel is doing a Bismark and bringing to birth the 4th Reich, and little greece had better be careful who it pisses off, because it really does not want to be on the wrong side of the border when EU turns Prussian.
The single biggest geopol move in the century and most people missed it. You can already see the power dynamics of the new behemoth, Germany is first among equals and starting to flex its muscle.
Not a bluff.
Germans just realized that $340Billion in Greek liabilities today will be $400Billion or more later, and choseto take a large loss now rather than a catastrophic one later.
The signal to other Euro countries is to get their acts together and be heroes not zeroes. Zeroes have nothing to add but negatives.
Empty promises, threats, and guile are not acceptable in exchange for concrete products produced through the expenditure of intelligence, blood, sweat and tears.
Those lamenting the loss of such countries don't get it. The loss is already actual, just not realized. Any other course chains productive working Germans to unproductive others.
Moral Hazard resulting in the corrosion of the work force is the INEVITABLE result - as seen in the US. When those who do not work have comparable lifestyles - given that free time is also a value - to those who do work, people will stop working.
It is the Zeroes who have not reconciled themselves to reality... 100 Trillion Drachma backed by nothing is worth...nothing. It is the Greek Oligarchs who defrauded Europe to enter with Goldman Sachs help. It is the Greek Oligarchs who spent the money on bread and circuses rather than productive self-sustaining business investments. It is the Greek Oligarchs who continued to defraud and spend, deny and lie, throughout the revelations of the real status of Greece's fiscal status. And it is the Greek Oligarchs who are now withdrawing money from Greek banks...explicitly trying to get their own money out, breaking the banks in the process, at the expense of ordinary working Greeks in the process.
This is not about banking. The Rothschilds benefit most by retaining a weak and divided Euro that allows them to scrape unlimited amounts of wealth off the top through money-printing. The banking cartel prefers losses to be unrealized, rather than realized. The bankers universally want to 'extend and pretend'.
Telling the Greek government to take a hike is not 'extend and pretend', it is an explicit capitulation on the necessity of realizing a loss.
Any Euro area banks that can still be broken on Greece five years after it became obvious they would and must default deserves to be bankrupt.
The only real question of substance is how to prevent contagion.