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Greek Bailout Extension Approved By Euroarea
Just over a week ago, Yanis Varoufakis would have crushed and mangled anyone who would dare suggest that Greece would extend its current bailout program, because, the myth went, the new Syriza government had a mandate to end the Troika (since renamed to "Institutions") and to crush the Memorandum (aka "existing bailout programme"). Since then much has changed, and confirming that the new government is really the old government, Europe can now rejoice, because as Bloomberg blasted moments ago:
- GREEK BAILOUT EXTENSION SAID TO BE APPROVED BY EURO AREA
Which means that as the "valiant" in words, if not deeds, new Greek government rolls over, the DAX is about to jump to new all time highs making rich Germans even richer. As for Greeks, not so much.
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Relevant:
https://www.youtube.com/watch?v=bp7wI3D408A
(No its not Mr. Panos)
Extend AND pretend.
Yes....exactly what we expected, but can I still say un-be-freakin-believable
As it turns out, this 'Greek proposal' was typed/dictated by some EU bureaucrat (Declan COSTELLO) and not by the Greek government: https://twitter.com/YanniKouts/status/570212150381301760/photo/1
Heeeere's Declan: http://www.voxeu.org/person/declan-costello
What is relevant is that there were at least 4 articles since Friday saying the it would not be approved, including the Nien, Nien, Nien, Nien article, vs. zero that said it would be approved. It seems when it comes to actionable trading on geopolitical politics, the Tylers have unfortunately also become the new Stolper. Fade their bias political doom and gloom, trade the articles with analysis. Sad thing to say, but it is what it is,
I am sure the doom and gloom articles bring in the Fox watchers and ad revenue now trumps the original point of Zerohedge which used to be almost all highly intelligent loons, instead of the current mostly ignorant loons.
Sadly, its a big ignorant loon club and you're in it, and it appears you've gone Full Loon Retard.
Honestly, anyone that takes what anyone writes at face value deserves to be elected president of the Full Loon Retard Club.
Sadly, that position was filled in 2008 and re-filled in 2012, so you'll have to wait for your chance in 2016.
Well if I wanted to hear lunatics blather about nonsense I would just go over to Foxnews or MSNBC. As you well know as an old timer, there used to be actionable news here. Over time Zerohedge's ability to generate news "alpha" has decreased significantly.
On a long enough timeline even your penis will fail to produce "alpha" without the help of little blue pills while eventually hanging limp and not even being good enough to piss through.
You're getting pissed about nothing. Learn to enjoy life and not take everything so seriously.
Sit back, relax, roll a stogie, sip some brandy, and finally realize there's nothing you can do but live and laugh at it all.
Either that or pop an aneurism and live on SSRI's the rest of your life.
I'm not a Tyler, but I stand by my ananysis for Oracle 911, lipskid.
Give it a few days.
I'm losing patience, but I'm not a particularly patient person. However, I must admit I admire those who strive, to seek, to find, and not to yield. Yield? To common sense!
THIS IS BULLISH AF!
Next they can teach Varoufakis how to fetch.
This whole scharade will still look very good on his resume, the University of Texas will now have to double his salary for their students to listen to his self congratulatory success stories. Heck, he may even get invited to A&M.......naaah
Everyone stop acting so pissy, we knew this was going to happen.
I haven't seen Schäuble smiling yet, so it can't be too bad...
Sorry, he just smiled...
http://p5.focus.de/img/fotos/crop4497385/3924872826-cv21_9-w630-h270-oc-q75-p5/urn-newsml-dpa-com-20090101-150223-99-11726-large-4-3.jpg
Someone was intimidated by the nail guns. Lots of nail guns.
Varo you fukis the greeks. Next they fukis you.
Everything is Awesome. Everything is cool when you're part of a team!!
I.. I.. I can't believe it's all over! They did it! They fixed the economy ;)
NEIN NEIN NEIN NEIN now where have I heard that again?
Perhaps here?
https://www.youtube.com/watch?v=GVC_g68nUpo
Voting for your favorite Kleptocrat does not make a revolution.
Surprise, surprise. Keep up the "hope" and "change"!
there it is. No matter who you vote for, the end result is the same: bend over, here it comes again.
Well, the Greeks are used to it and have been setting the trend even before the advent of the Hellenic age.
Why do you think they make such high quality olive oil.
You don't think they were putting it on salads do you?
This will never work. The Greek leadership has admitted they are bankrupt and now they accept more debt? They will never be able to show the ability to repay. All this does is kick the can down the road a ways.
now they accept more debt?
Dude....it's like free money.
What if someone offered you a $10 million loan with the first payment due in 40 years. Would you take it?
They should be up for an Oscar next year...that was some damn fine acting....
Best actor, Varoufakis in the Lying Game. Disguised as man with balls it is later revealed that he is sporting a pussy.
Pousti malaka apo to horio, Yanis Varoufakis autobiography.
and the beat goes on....This is what happens when you put your faith in a politician especially a communist.
YV just seen his first wage packet?
words mean absolutely nothing - are often crafted to hide the truth
actions mean everything - are "the truth"
The current arrangement crafted by the elites is nothing more than the age-old concept
of absolute rule over the masses/serfs. Their power is derived from their rule that its
legal for them to create/print as much "money" as they want and that it is illegal for
anyone not in their club/circle (ie, the masses/serfs) to create/print money. If you
can create limitless amounts of "money" then there is no limit to your power and control.
You can buy, own, and control everything and everyone. Which is why the fiat "money"
creation will never stop.
Tug of war between euro-people and euro-oligarchs will continue.
That is a game whose name is indelible and no invisible ink from Schauble's pen or ECB QE will ever be able to hide that true face of despotism; no more than it can efface the trace of greek elitist corruption and state irresponsibility and fiscal non-existence.
Righting a tilted ship sinking in debt and with no state apparatus will be a challenge worthy of Hercules; is Syriza of that stature?
Night is always darkest just before the (Golden) dawn...
If they keep rolling over new governments, it shouldn't be long for them to install a short fella with a Chaplinesque mustache.
LOL, they bought it again. Well done Greece.
Not just approved, but authored by Brussels:
https://twitter.com/youjonker/status/570214594733604864
"Brussel eurocrate Declan Costello (ECFIN) unmasked as author of new Greek reform programme"
None of this makes any difference. the extension is simply to buy enough time to allow euros to remove themselves from Greece. Keep the bonds afloat a little while longer while we unload them. Greece WILL do a Grexit, it's only a matter of a little while now.
"...making rich Germans even richer. As for Greeks, not so much."
mhhh... funny, I thought there were plenty of rich Greeks with accounts in the UK and Germany that are participating to this "great game", and becoming richer
not every EUR that was withrawn from Greek banks landed in a domestic drawer or safe. plenty of them are now in non-Greek banks. just saying
See you in 4 months...
A tactical win for Greeks to prepare for the next battle
For another take on this see Mike Whitney's article in yesterday's Counterpunch. I remember Whitney posting an article around July 9th last year warning that a major false flag was about to occur in Ukraine. MH17 went down on the 17th.
Paul Mason is also worth a look at http://blogs.channel4.com/paul-mason-blog/. Mason worked at the BBC's Newsight program for many years and always managed to inject a somewhat non-mainstream viewpoint into his reports. His was the token dissonant voice.
Greek debt per capita is 29,000 euros. American debt per capita is over 50,000 dollars.
We just entered NIRP here. Next, austerity for America.
Except we can and do print. And our printing will paper over the plunging value of the fiat dollar until real inflation ignites.
Then we have REAL austerity, and no one in the world can or will bail us out.
To heck with Greece. Our problems dwarf theirs.
I agree with your numbers, hence you omitted to tell the small difference:
1. US has A-bombs
2. US war budget makes 500.000.000.000 per year.
Greece has to repay 22 Billion Euros in 2015 alone.
So all the bailout they got is going straight back to the IMF and Central Banksters and all those countless official vultures and vampire squids.
Sooner or later a Greek default will be the only way out of an eternal debt slavery.
Greece is bankrupt and will not even be able to sustain the repayment of 260 Billion Euros Interest.
So the Vultures will try to keep the blood supply open for as long as possible.
What can you do in this situation ? Its everyone fighting for themselves now.
Truth is that all you ever believed was a lie and you finally learn that in this game -
you can Not trust anyone - everything is just a big fat Lie -
same as it ever was.
WR;)
The term "pay" has been replaced by "roll over". The debt does not need to be paid, it just needs a new due date. That is the key to the extend and pretend game, and if the Greeks go along with it, the Troika will keep accepting more Greek Sovereign bonds and feeding the greeks money for them. The Troika knows the bonds will never be paid off, but theTroika will carry them on the books as if they would. Then the Troika can continue to pretend that the EU house of finance is all in order.
Has Syriza been defeated, or has the Troika been snookered into lending more money after bad?
Did anyone else expect any other outcome? The news out of the EU zone reads like a template anymore because it is always this:
1. Party A demands changes in debt agreements! (Insert Greece for example, but later it will be Spain, Portugal, etc)
2. Party B refuses to back down on prior requirements of bailout agreements
3. Party A calls Party B's mother a fat cow
4. Insert news stories about bullshit worry that deal will not be reached
5. 11th hour (the news loves that term) deal reached !!!
Pussies!
Only the cats in Greece have that.
Everything else is just assholes and elbows.
long olive oil..
Yeah, to grease their asses with. Bend over Greece. Time for the high hard one again.
Idiots and turncoats running that country.
So the markets just opened and the Greek situation is fixed, after the market closes this unfortunate rumor will be corrected before being trotted out again tomorrow AM.
varoufakis is playing them. he needs time to set up the grexit. if the troika doesn't take a serious haircut, greece will leave the eurozone after the four months are up.
Exactely, the paper is nice, now wait for deeds.