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French FinMin Sees "No" Risk Of Greek Default, Market... Disagrees
As if the stream of nonsense from European (elected and unelected) officials was not already at 11 on the Spinal Tap amplifier of insanity, French Finance Minister Sapin just uttered the following:
- *FRANCE'S SAPIN SEES NO RISK OF GREEK BANKRUPTCY
The credit markets - which are once again pushing higher in yield, and wider in spread today - remain on edge, entirely disagreeing with Sapin's statement of total falsehood.
It appears he has taken a page from Juncker's playbook - "when it's serious, you have to lie"
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hmm maybe we are not living on the same planet
these people are so disconnected from the reality, from the majority of people
it's insane
I asked someone at the 7-11 if they were worried about Greece yesterday.
The response was....hell no.....they've got Germany.
I have to call BS. There is no way you ran into someone at 7-11 who knew that Greece and Germany are on the same continent much less the relative state of affairs.
It was the Indian owner
Winner!!!
GREXIT!
Should be interesting. Here is a great post about how its BS to think about debt as one persons liability and one person's asset as a zero sum game:
http://www.debtcrash.report/entry/debt-taken-on-by-fools
sapin is fucking dickhead, total ignorant about economy, he has been removed from gov so he can be more comfy in bruxelles, total blob brain.
check his face on google ...you easily understand why.
typical frogtard.
yep, he seems to be saying that it is up to us (the euro politicians and not the "markets") if greece defaults or not - thus making a greece default a political euro-decision
translation: "if you allow Greece to stop paying we will do the same"
It amazes me how often so called "experts" nowadays use the words "no risk" as if the laws of life and the universe itself don't apply to them or their actions and schemes.
Its well known that Plutocrats and Kleptocrats live in a bubble of their own. They pay "experts" to peddle the bullshit and manage the herd, you know, sell the dream, because you have to be asleep to believe it. And my god are alot of people asleep. Its really a bad mix - psychopathic leaders and stupid populations.
so the "voice of the markets" carries more "truthiness" then the voice of the French FinMin? lol, of course
who issued those 1Y CDSs? who holds them, who buys them? who... likes to... play with them? how many of those are around? what is the purpose of CDSs anyway?
as a reminder, ZH is the premier blog of the world in showing how rigged some markets are. sometimes, the emphasis is on "some", in some articles
as a reminder, only 40% of GDP equivalent of the Greek sovereign debt is in the hands of the "markets"
My dear Ghordius, as much as we differ on our resective love for the EU, I think this has nothing to do with the markets at all.
Mr. Sapin´s statement is most probably correct. Why? Because he knows (and most everone with a brain paying attention) that they will continue to finance Greece.
They have to, otherwise its the end (if not of the world, but of their centralistic statist wet-dream). They basically forced Greece to keep playing in 2011 and they will throw money at them this time.
Sapin knows it, Merkel knows it, Tsirpas knows and that Varoufakis guy knows too. No CDS will save their ass if Greece told the troika to stick it...so they won´t.
Tsirpas is in on the game and is playing his part...if he was genuinely concerned about Greece they would have defaulted right away (which the should have done 2011 at the latest).
I think the headline is accurate. Sapin does see "no risk of Greek bankruptcy". Because, when it comes to human action, he is an Enarque who couldn't find his ass with both hands.
And these fuckwits want a Euro Army....they can't even come clean and be honest about the economic crisis on the continent, let alone how to use troops effectively. Funny how the EU was intended to prevent conflict on the continent in the first place..look where things are headed now...
Keeping up with the Jones's is a bitch.
hey, you seem like the ideal person to give advice on how to disband NATO in such a way that does not offend the USA and allows it to save face.
Any suggestions ?
I'm not sure this Euro Army would supplant NATO as much as it would complement it with a larger ground force - even worse.
NATO is Uncle Sam's footstep in Europe, he simultaneously uses it to weaken Europe and project his uninviting cock East and South.
Give it a few more years, a few more stunning NATO successes like a few more LIbyas and Ukraines, and maybe this Euro Army can be justifed enough to cleanup the mess made by the very same people. It could provide the perfect jobs to all those frustrated European youths full of anger.....I see great things ahead.
The responsibility for the cleanup of any mess left by NATO should mainly be laid at the door of the leader of NATO, that goes without saying.
I notice you refuse to even contemplate my fantasy of NATO 's demise ( that is orderly, and a result of European political consensus ). Maybe too real a possibility and too humiliating.
would you trust Obama or Hilary to save you? Heck they wouldn't even save their own ambassador! Even nitwit lazy Europeans realize completely untrustworthy "partners"
The game is up.
Handelsblatt: "Greece is experiencing normalcy, which in the case of Hellas means chaos. The Greek government’s threats against German leaders are growing increasingly hysterical and bizarre. Rarely have creditors been treated this callously. Apparently, Prime Minister Alexis Tsipras can’t spell “thank you” in any language."
From the country that brought you the Maginot Line and Dien Bien Phu...
... and once exited NATO, and told the US and the UK that "there ain't any WMDs in Iraq", and endured the following anti-French propaganda that is still fresh in your mind
@Fix It Again Timmy
About Dien Bien Phu:
The French lost Dien Bien Phu because they were screwed by NATO (ie. the US).
In 1954 they had to specialize in jets while others in Europe had to specialize in bombers.
And when it came to fight Communism (the Viet Cong, massively helped by Soviet Union and China's troops) ... guess what... the US refused the NATO to get involved.
They had to fight the war without bombers, as in 1954 they had very few of these kind of planes.
Another nice lesson from a long list for French morons who believe America is a reliable ally, and even a friend of France.
And guess what... who had to fight the Vietnam war after the US sabotaged French effort ?
Besides that, in 1954, when the French were finally defeated in Dien Bien Phu, they had 50,000 troops in all Vietnam, and their biggest planes were Douglas A26 and C47’s, and Vought Corsairs.
When the US was defeated by the same enemy some twenty years later, they had 550,000 troops, B52’s, napalm, missiles, big helicopters, the works …
Wonder if he sees the nose on his face?
When gold drops it's a "conspiracy."
When Greek credit default swap yields go up, it's the "market."
Well, now that a government minister in the Euro zone has issued an official denial of Greek bankrutpcy, I know that Greek bankruptcy is a certainty.
Ok, just tell Minister Sapin if he is wrong, his nuts will be ripped off by a herd of goats. Then see if he sticks to his story.
If he means it is not "bankruptcy" when Greece declares all govt paper "void," he's technically correct.
"11 on the Spinal Tap amplifier of insanity." Love it!
A friend whose parents still live in Greece visited reecently due to her father's illness. The biggest hospital in Athens is close to complete dysfunction. The nurses gather in thee lobby at the end of the day so that the patients' families can hire them for overnight care for their loved ones. That is how they are earning their living... being paid for private care because the hospital either cannot or will not.
How will this change? And how will the culture of tax evasion change enough to pay the ECB, IMF etc.?? From what I hear, citizens are more deterrmined than ever to not pay... services on the islands are being bartered.
This is because we are in a post-market era. :)
Or perhaps they don't call it "bankruptcy" anymore, maybe they call it "sovereign rehypothecation" or something like that.
No risk there.
It is the established certanty.
Je sui Charlie; he got a wrong script.