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EU Official "Denies" Report Of "Greek Deal Pending" Rumor Which Sparked Stocks, Euro Surge
UPDATE: Denial *GREEK CREDITORS NOT YET DRAFTING FINAL ACCORD, EU OFFICIAL SAYS
Another day, another rumor (not yet denied) of a report that Greece and its creditors are crafting a deal (well durr)... The result, vertical buying panic in US equities, USD dumped (on EUR strength), TSY yields spike 3bps, and Crude oil surges... what a "market"
The Bloomberg headlines...
- *GREECE, CREDITORS STARTED CRAFTING STAFF LEVEL ACCORD: OFFICIAL
- *GREEK BANK DEPOSITS ARE SAFE, GOVT OFFICIAL SAYS
- *GREECE, CREDITORS STARTED CRAFTING STAFF LEVEL ACCORD: OFFICIAL
- *GREEK DEAL TO ALSO INCLUDE LONG TERM SOLUTION ON DEBT: OFFICIAL
- *GREECE TO CHANGE PENSION SYSTEM, WON'T CUT PENSIONS: OFFICIAL
As Bloomberg reports,
Brussels Group of Greek officials, representatives of creditor institutions to start drafting Staff Level Agreement today, a Greek govt official says in e-mail to reporters.
- Agreement to envisage low primary budget surpluses, no recessionary measures, sales tax overhaul, medium-term agreement on Greek debt relief, growth package
- Agreement will not include additional EU1.8b in measures
- Agreement will also envisage pension system reform, limiting early retirement, unification of pension funds; no pension cuts included
- Disagreement between creditor institutions remains a problem; if it wasn’t for the IMF, agreement would have been reached by now
- Creditor institutions should assume historical responsibility toward Greece, common European vision
- Greek PM Alexis Tsipras will be in constant contact with other leaders, to facilitate reaching agreement
- Greek deposits, financial system are safe
And the result...
The farce continues:
- *GREEK CREDITORS NOT YET DRAFTING FINAL ACCORD, EU OFFICIAL SAYS
but
- *TSIPRAS SAYS COUNTRY CLOSE TO DEAL WITH CREDITORS
So which is it?
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A deal? A deal! Is that like a monorail?
So... What will happen when NO deal is announced soon?
Anyone? Anyone?...
https://www.youtube.com/watch?v=uhiCFdWeQfA
Groundhog day, without Bill Murray and Andie MacDowell.
pods
Some Bloomberg intern is like "hey watch me make $400k in 30 seconds"
Shorts USD v EUR
Hits publish.
Covers position.
There's much larger money behind the "hit publish" insider trading than an intern.
Throw those pathetic Greeks out of Europe already.
Oooh! This is so EXCITING! I can hardly wait to see what happens next.
Zzzzzzzzzz.
"Greek bank deposits are safe" Get your money out NOW!!!!!
Why can't the Greeks just front run their fake announcements that a deal is imminent when it's really not. They could pay the IMF off easily with their profits.
and FIFA is the corrupt one...
Funny that, straight on the US open...
DavidC
As long as they can get the Acropolis up their ass, as the documents dictate, we have a deal.
Tooth Fairy, Santa Claus, Jesus, Elvis, Sasquatch, Nessie, and Easter Bunny all reported in area.
"GREEK BANK DEPOSITS ARE SAFE, GOVT OFFICIAL SAYS"
--Get out now.
When Fannie and Freddie were on the brink of collapse Hanky Panky said they were in no danger - same lies until it folds
spot right on.
the moment russian president Yeltsin declared there is no risk of default - the next day there was a default
When things get serious....you have to lie.
they wont deny the rumor until the european and u.s ''markets'' are closed for the day.
then they will revive that rumor just in time for the european open tomm.
exactly....look at all the fucking euro indices...must be month end....fucking bullshit
'sub-prime is well contained'
"don't worry, I'll pull out"
Why I covered my TZA yesterday. Was this not obviously on the horizon? But please, continue your hapless bellyaching.
And you went long I assume since it was so obvious
You don't cover a long ETF, dipshit.....YOU FUCKING SELL IT. So tired of listening to you fucking E-Trade pikers try and convince us what heavy hitters you are. Do you sell out of your short positions, too? Did you buy your TZA on margin? lol.
"GREECE SAYS DISAGREEMENTS AMONG CREDITORS A PROBLEM: OFFICIAL"
I'm going to take a guess and say that means the IMF.
Sure, there's a deal, just like that plan to pay off the $18+ Trillion of U.S. debt and prosecute Wall Street criminals.
Oh yeah, and audit the FED too - just a matter of time.
I saw a groundhog this morning, and she was admiring her shadow.
Does this mean Greece isn't going to default?
Stop, stop. Please stop. I'm laughing so hard I can't breathe.
You mean AGAIN or just this time? It's important to be specific here.
Is the the 8th of 9th kick of the can/buy some time move? I'm losing track after the better part of a decade and counting.
I'm starting to think we are actually all dead and in hell, but just don't know it yet.
Correct me if I'm wrong, but haven't we seen this story before?
Surely not?
DavidC
Only when the oligarchs have that pain in the pocketbook as markets begin to tank.
Yellen...
We need some MOAR QE and fast...About $100 Trillion might be nice to delay the Derivatives Bubble Bust for a few years. It is just a few keystrokes. It is only ZEROES.
Or just pay those God damned foreign creditors of Greece off to keep their Banks solvent. Fuck Congress. You do not need Congress. You can be like your former boss, Bernanke, and just refuse to answer those limp dick motherfuckers.
You do not need approval from anyone Yellen. MOAR QE. MOAR. Kick the can...before it is too late and we get the crisis that you have planned....you fucking cunt, Yellen.
I AM SO MOTHER FUCKING SICK AND MOTHER FUCKING TIRED OF HEARING ABOUT GREECE, WHETHER OR NOT THEY'RE GOING TO DEFAULT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I'm not sure I get how you are feeling. Care to elaborate a little more?
LOL. Wry and dry wit per usual.
Who has got the gun to your head and forcing you to read about it or listen to it?
Personally I find the drama quite entertaining because it may mean the end of Western Civilization.
Then we can all enjoy some Amok Time before we all take that final Dirt Nap.
It will be fun to blow shit up and shoot thieves...make 'em suffer before they die..
Perhaps you'd be better off tuning into CNBS and watching Cramer the Clown beep horns and crap.
Mario, Please place me on your email list along with Soros so I know what you are going to say before the other muppets find out. I'm not a selfish guy, I'm willing to give you 5% vig on this info.
i could be dead wrong but i still believe a deal gets done because why not? its been this easy so far. just keep the strategy of "extend & pretend" going. german buckled on QE at the last minute so why not with this? at the end of the day, every administration whether its conserative or libral wants the same thing - another term. last person IMO to do the right thing was volcker when he jacked rates to crush inflation; now we just lie about all the inflation in the system and do whatever necessary to make sure we pump-up asset prices no matter what the collateral damage is to the real economy. absolutely sad but the masses vote with perception and it seems as tho perception is whatever the stock market is doing; only reason IMO obama got elected - he was a senator for a few years and had zero business experience but since markets were cratering (and republicans put up a shit candidate), he got in. when up for election against romney, i said only way romney wins was if markets were cratering. NO WAY obama was gonna let that happen so the doves levitated the market, public perception was things were stable, result obama won. looking at this situation, i see a mirror-image. merkel is not going to want her party to have their fingerprints on ripping apart this debt pile because of the pain it will inflict & they will be held responsible. however if anyone was going to be responsible, i think it would be her but i don't see it. both sides go down to the wire to try and jam as much out of the other side but end of the day, a deal gets done, music keeps going until the entire thing blows.
Greek drama use to be good but this one sucks and it's really stale.
the slowest of slow trainwrecks ever.
Not compared to Japan.
Buy, buy, buy, buy, no, no, sell, sell, sell, sell. Hang on, sell the buy, no, buy the sell .... Oh, fuck it, buy & sell the long short,
The suspension of reality continues or as some say, "At this point, what difference does it make?"
Looking forward to the following future headlines:
Greece whips EU ass.
Spain forges silver sword and readies a blood soaked white flag for the final battle in the bullshit ring.
The whole thing is just a huge misunderstanding over what some reporter overheard Schauble mumbling to Merkel during a break in the negotiations. What he actually said was, "Epic Greek ass-pounding" .
I am privy to the pending deal, and it appears solid. The key provision is that Greece will receive every single discarded sofa from the EU for its potential lost, loose, change value.
Vertical good...horizontal bad. Humphffffff
Pretty clear what's really going on here
Good luck with that! Bullshit, ain't going to happen.
But here's the real "deal"
IMF is working on a default scenario. Greece is flat ass broke and there's no upside. IMF wants its pound of flesh and forcing the Greek's hand.
Fuck that "European Vision". Stuff it right up deep into your collective asses. It's a financial gimmick to make the 1% filthy rich. The rest of the European population is worse off than before the Euro was introduced and that is across the board in all states.
But yes, "historically" there has always been the privileged few vs the enslaved masses.
Default and beg Uncle Vlad for a BRICS loan to issue the New Drachma. Doesn't the AIIB need customers? Vlad ain't gonna pay any Zio vig on the old debt. Let the Euro swirl the bowl