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Eurogroup Meeting Delayed, Reportedly Due To Greeks "Sending Wrong Letter"
- *EU MEETING ON GREECE PUSHED BACK AGAIN TO 11AM ET., GREECE SENT THE WRONG LETTER TO EU
Greece sent incorrect letter to Eurogroup yesterday which led to Germany rejecting the loan extension request, according to Bild
The Greek government accidentally sent the wrong letter to Brussels on Thursday with the intended version going a step further accepting conditions agreed to by the previous government, Germany's Bild Zeitung reported Friday citing government sources.
According to the report, Greek Prime Minister Alexis Tsipras in cooperation with EU Commission President Jean-Claude Juncker and Eurogroup head Jeroen Dijsselbloem Wednesday had prepared a letter to secure support of bailout partners.
However, Greek Finance Minister Yanis Varoufakis sent an altered version of the letter in which - against previous agreements - omitting assurances that Greece will accept bailout conditions agreed to by the previous government, the report said.
The paper said that in conversations with Dijsselbloem and German chancellor Angela Merkel, Tsipras described the letter as an "administrative mistake."
The proposal that had been sent was quickly rejected by Germany as sufficient.
Of course - who knows if this is just Bild trolling the Greeks at this stage, considering that among its "incisive" Greek analysis, Bild also posts profound articles such as this:
* * *
Finance ministers from across Europe are arriving in Brussels for the latest, most critical (until the next one) stare-down across the table at The Greeks. As Germany's Schaeuble noted somewhat pessimistically "we shall see," on the outcome of today's meeting, adding that Greece "must take seriously" previous agreements and "Europe needs mutual trust." Varoufakis on his arrival explained that he "hopes for white smoke" by the end of the day adding that "Greece has gone the extra 10 miles... and hopes EU can meet them one-fith of the way."
- Sources say Schauble and Varoufakis in separate rooms with shuttle diplomacy by Lagarde, Moscovici, Dijsselbloem between them.
Live Feed:
France:
- *GREECE EXIT FROM EURO ZONE IS NOT AN OPTION, SAPIN SAYS
Germany:
- *SCHAEUBLE SAYS 'WE SHALL SEE' WHAT OUTCOME IS OF EUROGROUP
- *SCHAEUBLE SAYS EUROPE NEEDS MUTUAL TRUST
- *SCHAEUBLE SAYS 'IT'S NOT ABOUT ONE COUNTRY, IT'S ABOUT EUROPE'
- *SCHAEUBLE SAYS MUST FIND SOLUTIONS TO MAINTAIN TRUST IN EURO
- *SCHAEUBLE SAYS MUST 'TAKE SERIOUSLY' PREVIOUS AGREEMENTS
Greece:
- *VAROUFAKIS SAYS GREECE HAS GONE EXTRA 10 MILES
- *VAROUFAKIS SAYS GREECE HOPES FOR WHITE SMOKE AFTER MEETING
- *VAROUFAKIS SAYS HE TRUSTS THERE WILL BE AN AGREEMENT TODAY
- *VAROUFAKIS EXPECTS PARTNERS TO MEET GREECE ONE-FIFTH OF THE WAY
Spain:
- MNI: SPAIN DE GUINDOS: DEAL WITH GREECE NOT NECESSARY BEFORE MONDAY
#Greece: "This is the 3rd meeting of the #eurogroup and it must be conclusive" @pierremoscovici after Lux FinMin talked of poss 4th meeting.
— José Miguel Sardo (@jmsardo) February 20, 2015
* * *
How will it end?
or this
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grab the popcorn bitchez, the movies is about to start
As the Great Unwind intensified, the people began to rely less and less on mainstram media and government spokespeople for the propaganda was clear for all to see.
...and the markets made a new all time high every day happily ever after.
The obfuscation machine goes into overdrive. Shaking and baking until nobody knows a goddam thing, all statements are watered down and twisted, until the stupified zombie nations just return to normal. Matrix wins, as per predictions. No event, tempest in teapot, algos pump QE in, to set record stock prices.
wrong letter -- Now they are using the "dog ate my homework" excuse
What does it tell us that a group of central planners playing with paper money can create chaos like this.
I bet they wrote the first letter in Comic Sans.
Also... Dildo Attack FTMFW!
The white smoke might come from another source...
Beware of Greeks bearing letters.
..and I notice that the latex implement is of the non-Aryan persuasion.
Yes. It is a Marathon.
Today Zeno's Paradox will become obvious near the Friday market close.
With EU only inifinite number of their half-steps, will never reach a Greek conclusion.
There must be a higher rationale to arrive at the final goal (of a debt free Greece).
Opa !
I love Comic Sans
/sarc
Bye bye donkey farmers!
Dijsselbloem between Schaeuble and Varoufakis?
As a whipping boy?
looks like the only movement made is by the greeks. If i had elected these clowns to reject austerity, I'd be hloding a loaded revolver about now, coz varoufakis and tsipras aint gonna do nothing but 'suck it'. I wish it wasn't the case, but they aint resisting like schaeuble
"happily ever after"
if your fighting for a fairy tale ending you will be disappointed. as when you get to where you think you are going, you will realize it was just a belief you created as in reality perfection is constant evolution.
MAybe since its a Greek Holiday on Monday, they delay so they can exit after our markets close. That gives them time through Monday to get Greek banks stable before they open on Tuesday.
Long weekend.
Getting really tired of this story. So obvious that Germany is going to cave so they can push this off until some point in the future where they go through a bunch of drama before caving again.
Exactly, all the facts just churn around in circles and all come out the same colour like one great big happy meal smoothie:
https://www.youtube.com/watch?v=FBB8O6jxJak
Yup, all I hear is "bla, bla, bla." Central banks have played this game for decades where odious debt is assigned; then part of it is forgiven to keep receiving interest payments, as described in the excellent book Creature From Jekyll Island.
Awesome icon by the way.
I don't see it that way. If the Germans cave they legitimize the Greek election and energize the anti-Euro parties across Europe. Germany can lose Greece and paper it over...they can't do the same with Spain or Italy. The Greeks do not want to exit the Euro
Article 6 of NATO Charter gives authority to invade and take over
the "wrong" letter?!!!WTF?!!That one wasn't supposed to go out until MONDAY Varoui!!!
Schaeuble is in way over his head. Germany doesn't want this attention.
Looks like he's a CRIP [who knew]?
And Viroufakis: what it B like. That nigga's a blood from Piru gonna get tha chedda for his kingdom.
Dr. V is Vulcan...
http://www.thetoc.gr/eng/people/article/varoufakis-as-a-vulcan-and-other-internet-hilarity
This is analogous to someone who is terminally ill and on life support.
Everyone knows it's just a matter of time but they want to keep the machines plugged in. The one thing ALL of this has EXTENSIVELY highlighted is the fact that Greece is going to sink.
Nothing these assholes can do will stop that inevitability. And Italy watches. And Spain watches. And Portugal watches......
We're all watching! There are still those in Europe who really believed this crap sandwich would taste like lobster tail.
It will be my fun to watch the heads explode when the inevitable truth sinks in.
Lol so obvious they are pretending to do "work". So many headless chickenz, bitchez.
Yes, chicken with its head cut off: https://www.youtube.com/watch?v=CjBWtaAZngk
If I had a Cooler full of beer on the floor beside me this would be perfect. As is it's still fun to watch. Bet there's a run on men's underwear in Brussels...
All else being equal, the simplest answer is often the correct one.
<Occam>
As broke as the Greeks are, shouldn't Varoufakis being driving himself to these meetings in a Yugo?
In a Yugo with a 40 year old auto loan that Varoufakis is still paying off after 40 years----just like Greece is doing with a sub-prime collateralized teaser bailout loan from the EU arranged through Godman Sachs. The Yugo can be repossessed, but not Greece--- although Germany tried during WWII
No changes. Greece stays for a little while longer. Otherwise all these EU mf'ers have to find a real job. God I hate this fiasco and wish Greece would tell them all to go to hades.
He should have arrived in a cab driven by Goldman Sachs CEO Loyd Blankfein, and he should have tipped Loyd in Drachmas.
Come....on......suitcase nuke.
No Oak table leg will protect you from that... ala Adolf.
How much do people want to bet that these bureaucrats will be claiming this as a "magnanimous victory for Europe" after shuffling this issue/blame back and forth for many days on the taxpayer bill.
Politics: the only profession where you can fuck things up, find a solution, and then claim a personal victory as a result.
I'd love to know what was contained in the original letter. Maybe a photocopy of Varoufakis' nuts?
If you are interested in drones check out this site http://pickyourdrone.com/
Somebody should warn these guys of the distractions you can encounter while toking on BC Big Bud.
Know your enemy!
https://www.youtube.com/watch?v=DqLUq_x2ZJg
Bild-Zeitung is a complete joke with Kai Dieckmann as editor Merkel's lapdog.....just look at his second marriage "On January 28, 2002, he married Bild columnist Katja Kessler, with former Chancellor of Germany Helmut Kohl serving as his best man"
Germany caves and the ECB prints more to bail out Greece. Can l
kicking keeps going.
The rest of the PIIGS need to ask for debt forgiveness as well.
So the World has added $57 TRILLION in Debt since 2008.
http://demonocracy.info/infographics/eu/debt_greek/debt_greek.html
http://demonocracy.info/infographics/usa/world_debt/world_debt.html
http://demonocracy.info/infographics/usa/world_debt/world_debt.html
Or you can look at it another way. The world has added $57 trillion in Banker Assets since 2008. And they still whine for more.
Exactly. Call it deposits and you will see everything has been fixed!
Okay folks, lets call paper what it really is,...well it's just that,....paper or digits on a computer screen.
Paper gold, paper silver, paper t-notes, paper stock/bonds, paper futures, paper money, paper everywhere!
All left brain abstracts, socially constructed to serve you better!..(irony).
My point: Paper/fiat money ain't nothing but a "place holder", a believe system everyone agrees on, for now!
Money created out of thin air" (i.e. a computer entry) by Govt's Central Banksters is/was never intended to be "paid back", since it's fantasized invention (money) never exisited in the first place,... pay it back to who?
The dirty little secret: Govt debt do not matter!
Hence, always plenty of "funds" for wars, black ops, corp tax brakes etc.
Debt is solely intended to keep you, me, countries, "in line", a control mechanism, a hammer!
Govt's and the mafia banksters want to keep it secret so that, you, I and everyone else continues to make payments (derived from your sweat and labor) to,....the banksters.
Can't wrap your head around it (yet) ?....for good reading;
John R Searle "The Construction of Social Reallity".
Yes Virginia, the black box is not black,...its painted bright orange!
https://www.youtube.com/results?search_query=ratm+wake+up+lyrics
The correct letter has four words.
"Fuck you. Odious Debt."
Greece, load up one of your banks with the most toxic and contagious stuff in your system and declare it to be in official default.
Declare the bank to be unsavable and refuse to channel any of the money offered to that bank.
Prepare the second bank.
Sorry we sent the hooker to the wrong room.
"In more paper promises we trust."
I am reminded of a line from hudson hawk
"What ever happened to acting like David Niven?
You know, tiptoe in, tiptoe out?"
Wonder if ViralFukus has any cash in a Greek bank?
Don't plan on using the debit card.
The true disaster was the destruction of credibility.
How can credit be given or agreements entered into if the is no credibility upon which to base negotiation?
'When it gets serious you have to lie.'
-was the EU's 'It depends upon what the meaning of the word is is.' moment.
Nothing can possibly be solved when negotiating with known liars.
No one has any credibility left.
There can be no democracy and no laws with known liars. There can be no formal contracts with known liars.
There is nothing to work with here. The EU system is already dead.
Looking like Greece is about to fold and kick the can.
It does appear that way.
Also seems this process has further weaken the greece position.
They may wish to resurect this corpse, but if the situation in greece does not improve materially then is much drama for nothing.
What they will need to agree on is how to prevent the populace from impacting thier agreement - syriza will sell-out and attempt to portray it as a noble effort. Then they will need to find areas to cut. Likely the one concession is that the troika will become less evident.
This probably needs another year to develop more fully.
Then comes bailout from us or china.
Yes, there will need to be some clever wording to disguise the fact that these newly-elected politicans have sold out their country. But such a thing is not really too much of a challenge for politicians - they do it all the time.
And as it was written, so it came to pass.
I can think of two of the right letters Greece could send the Troika, F and U!
So its going to be good money after bad? I remember reading something about that...
When Greece defaults, how many people will suffer a loss.
In other words, how much of the $300 billion 'debt' was created from fvck all?
BREAKING NEWS: GREECE TO EXIT EUROGROUP - LEAKED SOURCE YOUR MAMA
Your mama leaks..use Depends
I think if they do kick the can...and add another 80 billion to the pot....then I think the average Joe will start to figure out what is going on..the printing of trillions ....with no end in site....so buy now..and hold for higher prices...hyper inflation.....its very close
I wonder how they sent the letters...Fed EX..UPS...or snail mail....I want to buy that stock becuase there are going to be a lot more letters coming...I think
Let's make a drachma out of a crisis.
The Bild article is all bullshit!! Besides, people who read that rag (Bild) are low IQ individuals.
Greece will not exit the Euro, Germany will cave and Case Closed.
Good day for a nice bank run in Greece due to Banking Holiday on Monday. Very convenient.
On your mark, set, GO !!!! Don't forget to take out enough for beer
Oh Euro, we barely knew thee.
To every thing, there is a season.
A time to become indebted,
A time to default.
Say hello to the new Drachma,
Same as the old Drachma.
I know that paper Euros indicate the country of origin. Do electronic Euros bear the same sort of indicator, when they are transferred between accounts in the banking system?
The way the banking system works.
You can take freshly printed 10euro bank notes printed in Athens
Deposit them into a bank
Spend them internationally and exchange them for notes of different denominations in different countries.
Vaporize the 10euro notes at the source bank
No one knows the difference, or where the money came from.
In-fact, you can skip the printing, and just make a ledger entry.... and if anyone asks for the notes . . . just print them then.
Greece should borrow 100 billion, and use 10 billion to create a secret government counterfeiting facility.... it would solve all their problems.
All currency is fake.... no need to work for it as long as you can trick some other asshole to work for it, thats how the elite run the world, they print, you work, you lose everything, they do coke off a strippers ass on their private 200ft Yacht.
For fucks sake already, just do it. Make a simple demand on Germany:
1) We'll stay in the euro if: All debts are given a 95% haircut and made interest free (still better than negative!)
2) Otherwise we'll be leaving and defaulting on 100% of all debts, any attempts to seize government assets will be taken as an act of war and responded to in kind.
Just take that bat to the EU already. Smack it around and end the bullshit. Being the first to do it means the playbook is unwritten, which means you can get away with shit... which in the future will be countered with planning. DO EEET.
At this point this ^ is the best option ... Greece has nothing to lose, the damage has already been done by the austerity programs, no one in Greece has any money to lose except for a handful of people who more than likely have wealth tucked away in other assets just in case anyway.
To sit there and make deals is pointless. . . they would only ensure that the same problems will happen again . . . and there wont be any economic recovery without a complete economic restructuring of the way things work in Greece....
What Greece needs.
-Huge import taxes
-Very Low Taxes on tourism (right now its like 60% of the plane ticket to Greece. . . )
-Drachmas o/c backed by some kind of formlula for inflation like colorodos tax structure based on population currency issues debt free
-Mild foreign income taxes
-No regulation on weed , weed taxation , hemp farms
-Programs to improve water quality and irrigation to farm lands (half the farm lands are deserts filled with thorn bushes atm in Greece)
-No Export taxes, just a small tax on foreign income like said before
-End Social Security (unwind it over the next 10 ~16 years just give everyone who is owed, a lump sum of drachmas , this is a great way to put drachmas into circulation)
-Govt spending on infrastructure (power plants, military, irrigation, highways and roads) in order to pump new printed drachmas into circulation...
Looks like the Greeks just want to kick the dildo down the road. Extend and pretend...