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The Long Road To Avoiding Grexit
While Friday's 'agreement' to agree to agreeing a deal that would be agreeable between The Eurogroup (and its 'Institutions') and Greece was heralded by the markets as a success for avoiding a Greek Exit (Grexit), there are numerous hurdles left in the next few months that could derail this process and bring about the re-introduction of the Drachma. As Deutsche Bank concludes, Greece’s (reluctant) request for a bailout extension is the first step in what is likely to be a difficult path to compromise...
Perhaps we should just focus on getting through today without a "nein" from the Institutions...
Source: Deutsche Bank
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They are offering Greece a suicide pact but Greece may just decide to take the EU with them.
The Greeks needed a delay from the troika and they got one with vague conditions attached to it. The four month delay means grexit does not come under the troika microscope until near the summer recess. Wanna bet Greece does not wangle another delay? The real problem is not Greece but Wall Street and Obummer's economic policies, policies which have protected the counterfeiters who have flooded world markets with close to 2 quadrillion dollars in overvalued or duplicate derivatives. So everyone with a slight knowledge of economics is trying to buy up real property as a hedge against a spike in inflation next year.
Just had a thought, how much of the Greek debt is tied up with derivatives? That could make for a nice fireworks display...
One desperately hopes that they will, painful though it is likely to be for most of us. However it's a bit like having a tooth extracted, once it's out, that's it and subsequently things get progressively better.
... Tsipras took what he wanted in order to prepare better for a Grexit. The Greek Leftists in power know very well who are dealing with, so they will use this time to prepare for the next battle of this big war.
I'll believe it when I see it. A compromise on austerity will split Syriza, and given the widespread support for the Euro a Grexit will split the country.
tsipras and his ilk dont want to leave the euro, they want to keep the Free Shit flowing, so long as they control the flow- they will happily sell the country out to brussels as long as they and the nomenklatura get to continue the free ride in brussels.
There is not a shred of evidence for this fevered fantasy.
Bring out the riot dog.
Sausage (Loukanikos) died 9 October 2014. His health was effected by all the tear gas he inhaled. But he was one of the greats. http://www.bbc.co.uk/news/world-europe-13802940
New dog needed.
At least the Greeks will get another 4 months to get their money out of the banks.
Only if the banks re-open tomorrow.
Whe does Spain go to polls?
Not till much later in the year (Oct/Nov probably). At least by then they should have a clear idea of what options they are voting for:
a) more austerity and debt slavery
b) more austerity and debt slavery
c) none of the above (ie: abject poverty and freedom)
How come no one talks about a third option for the Greeks?:
Default on Greek debt, stay in Euro just like Cyprus.
No grexit need occur, plus no one wants a grexit except socialist libertarians.
'socilalists' and 'libertarians' are mutually exclusive concepts, my little neocon puppet.
au contrair mon freir.
Any libertarian that desires a gold standard is really a socialist.
I'm all ears; just how does that work?
This ought to be good..
..and by the way, you misspelled "frere."
Gold standard requires central planning. Central planning is the realm of socialists. What is hard to understand?
and don't forget:
Never VOTE for another CLINTON or BUSH!
Shhh...if you are quiet, you can hear the cognitive dissonance festering in the minds of all the hard money socialists now.
You mean they can just default and stay in the Euro like Cyprus??? But, but, but....
You mean a gold standard is central planning which is simply socialism??? But, but, but, keynes and stuff?!
Central planning is completely legitimate as long as all parties agree to the terms.
Then it's just an agreement, a social contract.
Central planning only devolves into tyranny when one party makes all of the rules, and then forces the other to comply with the new rules.
Libertarian /= Anarchist.
Schauebel is playing the role of Bruning thus empowering Golden Dawn. The Germans love to empower fascists.
1. We are posterity.
2. We do not pay.
Posterity does not pay.
Posterity is just around the corner.
So far that didn't work.The far right just didn't promise enough Unicorns!
Schauble's sophisticated negotiating technique:
https://www.youtube.com/watch?v=1MLry6Cn_D4