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Why 4 And Not 6 Months
Why 4 and not 6 months? Simple: so that the humiliation of the Syriza government can continue with yet another bailout, aka "current programme", aka Memorandum extension request just ahead of the biggest debt maturity for the remainder of 2015.
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That, and ECB has said that Greece may be in for the QE-wave in July, so if it doesn't play out they'll be locked out for good.
Actually Athens needs some time to print a few trillion new drachmas.
everything is awesome! Rates going up in March-June! Yes! i can finally make some money my savings account
Agreed. And the ECB needs to find a deep dark hole to hide in
That ain't ever gonna happen. Today confirms it.
How long to introduce the Drachma? Float the Euro for 4 months and then run the printers. Syrizia has been overwhelmed with the debt talks since they got into power. I believe their true political ambitions and leadership are just getting started.
The extension is buying them time to make their moves.
Exactly ! That's probably why they agreed with this extension... to prepare for default (set their currency, give people access to euros for a little more so that they can take care of their money, give businesses time to prepare for loss of euro credit lines, etc). All in all, some good planning there...
Exactly. But the Troika is going to stew for the next four months knowing the Greeks won't cave in for them.
Guess it is time to set up the barricades again around the Greek congressional buildings and summon the RoboCop platoons back into service.
Extend-and-pretend will work forever! Maybe
Did paper change its Iraq coverage to suit Apple Computer?
http://tinyurl.com/p6gtagg
Sons of bitches... These goddamn greeks, why the fuck would they cave... BRICS had their back, Europe is a supranatural corrupt keynesiane voodoo temple... what... the... fuck...
Because they know their never going to pay it back.
What about the massive amounts of interest? How are those being covered? The state is essentially broke and they are rolling back on austerity.
they're just kicking the can further down the road... somewhat expectable
I guess since they get an extension of the "program", they can pay interest for 4 more months...
The hit men got to them
The hit men? More like the Jackels.
they are hoping the horse will sing....
a man sentenced to be hanged fro offending the sultan, offered a deal to the court:
if they would give him a year, he would teach the sultan’s horse to sing,
earning his freedom; if he failed, he would go to the gallows willingly. When
he returned to the dock, a fellow prisoner said, “Are you crazy?” The man
replied, “I figure, over the course of a year a lot can happen. Maybe the
sultan will die, and the new sultan will pardon me. Maybe I’ll die; in that
case I wouldn’t have lost a thing. Maybe the horse will die; then I’ll be off
the hook. And who knows? Maybe I’ll teach the horse to sing!
Why 4 and not 6? 6 is the magic number baby, Like in 6 min abs! 4 doesnt even get your heart rate up! Goddamn!
You know that old saw from the sea? "Six little chipmunks twirling on a branch, eating lots of sunflowers on my Uncles ranch"...get with the program, its clearly brie time and here you are talking gorgonzola!
Step into my office...your fucking fired!
Well because the "stock market" is always looking 6-9 month ahead.
Banksters 1002
People Sheeple 0
Get rich motherfuckers or get back in you cardboard box
Economic hit men infinity
No, Greek debt maturity has been fixed for 2115.
It probaby has an option to be extended another century for a modest renewal fee.
Syriza turned out to be a big joke. YV talks big and has no balls. Tsiparas is your run of the mill politician. Nothing will change until the governments are ripped down from the top and the politicians are hung from street lamps.
Essentially this.
Meet the new boss, same as the old boss.
I read the statement differently. Just compare it with the Dijsselbloem-draft from last Monday, it's stunningly different.
But, but, but, but I thought this was the end for the Euro? What happened? Get serious people, they can extend this charade for another 10 or 20 years.
We are all holing onto a spec o' hope.
The charade, deception & illusion will continue for as long as the Criminal Corp. Governments of the World can continue to print money. Not sooner.
No it can't thats the problem.
FED raising rates in June?
Just absurd.
IMHO a win for the Greeks - just a smart move - game strategy.
Currently the Greeks may have lost face BUT they have a least won a few more billions to feed their poeple - what in the end in the moment is more important - as it bought at the same time TIME - to prepare the exit. To prepare deals with ie the russian bear or the Chinese - and ie. to prepare the new Drachme.
Aside of that: Add four months - and that is end of June - close to when gold should bottom (July). Cyclewise this outcome fits pretty well. It would not have fit if exit happened today.
So it remains to be seen what will be the final outcome - in summer.
So at the first glance it looks like they gave in - at the second they won TIME what is the most important asset currently.
Schäuble the old fox knew it and he was right - it was just a trojan horse.
Well played Yanis.
It's more: Greece now makes the proposals and just need them to be accepted. Before it was somehow the other way 'round, with Troika saying what and how. A little bit more freedom under supervision within a 4 month window.
Hope and change.
Cope and Hang'e(m)
to make it seem as tho there is a sense of "rational" here. did anyone really think the germans were NOT going to get a deal done? their economy continues to grow & their exports are still rolling out. were they going to cut out 1 of their primary clients? would a drug dealer cut off their best buyer? no. what they would do was allow them to "ring-out" a bit before giving them some more drugs. in this case, the dealer will keep dolling out the "candy" until all the clients are flat-out dead. all-the-while, these "dealers" (ie. the german, FOMC, BOJ, etc.) are all breaking biggy's rule of "never get high off your own supply". so according to biggy & the math/path we're on, there won't be an ICU, just a cold silver table at the morgue. its simply fascinating to me ANYONE who believes in this QE shit can't see where all this is going. like ive said all along, im sure it ends well.
Goddamn this is bullshit. Nothing has been agreed. Nothing has been conceded by the Troika. Unless we get a press conference shortly from Varoufakis saying they are all a bunch of liars and we will be exiting the Euro, then they have shown they are no different and the Greek people and everyone else by association has been fucked by the banksters again.
MFs.
I would love it if what happened was the Greeks listeneing to Vlad "the Tiger Rider" Putin's advice"...Just nod along...what ever they say...go along....tell them things like "that sounds reaonable" and "Okay" Just don't make them alarmed. Make them feel safe, and confident in their nonsense."
The marxists thought they could piss with the big dogs, and it looks like they got pissed on!
Canalia :)
4 months to coordinate with the Fed for an intervention (like Mexico).
Like quitting any addiction. Cold turkey is the only way. Syriza got punked and Greece will get more screwed by any deal made with these liars.
Again - Greeks won a few billions AND TIME to prepare.
If they had exited it would just have caused chaos resulting in more Chaos.
Now EU is paying the preparations for the exit and feeding the Greeks into summer.
Excellent move IMHO.
Suggest to keep emotions in check - and to rethink implications of this truely trojan horse.
Also for Putin this a win: Greece inside EU (as sort of an ally) has more advantages than disadvantages.
Furthermore this delay will eventually help Spain Podemus as a well timed and prepared Grexit is more preferable than Chaos and blood in the streets.
There will be people in the streets, riots dog makes a come back and you will see those steel barriers go back up.
Implications, yes there will be.
Puerto Rico’s GO rating has been downgraded to Caa1, with a negative outlook, from B2 by Moody’s Investors Service. The rating agency cited increased liquidity risks as a result of slower economic growth, which would
contribute to a decline in tax revenues, as the main driver for the downgrade.
Furthermore, the covering analysts stated that "tax reforms now before the legislature, which are uncertain in their timing and their results, further signal a rising degree of political risk that could ultimately cause outcomes unfavorable to bondholders.” The rating action impacts approximately $48bn of outstanding debt.
The Greeks are so naive they don't get it yet.
Give them another 5 years of this "remember they don't have the money to pay the debt" torment and eventually they have to walk away OR REMAIN IN THEIR CURRENT POSITION FOREVER.
That's the reality ... in what decade or century do you believe the country will be turned around economically?
Note:- By 2020 you will not be 120% of debt to GDP as you were promised / advised. On that planned outcome of 120% bandied around by the Troika that resulted in more lending you could never repay.
What a position? Held as a whipping post and you can't leave otherwise the ECB has to ensure your economic outcome is horrendous otherwise others may contemplate it.
Yanis has to cut out the "growth" nonsense. But because he doesn't, Greece will remain chained to the Euro. Greece isn't willing to de-industrialze and live off their work.
Many here on ZH, and elsewhere, have focused on the potential collapse of the euro as if the banksters find that intolerable. However, with the clear signs of the dollar's collapse showing, and its planned replacement with an SDR fiat that will preserve the bulk of the banksters' fiat debts, and assets, comes the idea that the euro too will also be replaced with the SDR fiat.
We shall see, as the banksters, I am sure, have more criminality, deceits, false-flags, and bullets up their sleeves.
The banksters need to repay us.
Is painting "criminals" on a bank graffiti, or a warning?
Six months is an extension to the pretension.
Four months is an exit to the Grexit.
6 months it's illegal to get rid of it and 4 months is borderline. I'm a bastard myself, i should know.