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Dijsselbloem Crushes Greek Deal Optimism, Says Deal "Not Theoretically Possible" This Week
Remember a couple of hours ago when WSJ reported that, after an emergency meeting between the IMF and EU creditors, the troika decided to help Greek PM Alexis Tsipras out by simply drafting an agreement for him and placing an X next to the line where he needed to sign? Well, it now appears that either those reports were misinformed or Tsipras has come back and politely asked to the troika to read the alternative proposal he sent over on Monday evening because Eurogroup President Jeroen Dijsselbloem has just thrown quite a bit of cold water on the idea that a deal will be struck this week.
- DIJSSELBLOEM SAYS CREDITORS STILL FAR FROM A DEAL WITH GREECE
- DIJSSELBLOEM SAYS PROGRESS ON GREECE STILL SLOW, INSUFFICIENT
And in case there was any doubt about our contention that the institutions intend to break Syriza’s campaign mandate once and for all:
- DIJSSELBLOEM SAYS CREDITORS WON'T MEET GREECE HALF WAY
- DIJSSELBLOEM SAYS GREEK GOVERNMENT MUST BE "HONEST WITH VOTERS" ABOUT FINANCES
As for the IMF payment on Friday, that looks like a no:
- DIJSSELBLOEM SAYS: GREECE DEAL NOT THEORETICALLY POSSIBLE THIS WEEK
So: default on the IMF's June 5 payment?
Or perhaps it was all just a scramble to push the EUR lower after one of its sharpest surges in the past decade.
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Greece might default then.
U mean they havent yet?
Throw those pathetic Greeks out of Europe already.
DON'T FORGET!
NOT PAYING ON TIME IS AN EVENT OF DEFAULT
BUT THERE REMAIN "CURE PERIODS"
It ain't over until it's over and that's when nobody's left to make it out alive.
DijsselBOOM
I've never heard that before.
What difference does it make, they are insolvent, if they don’t default now they will in the coming weeks or months. Granted there are countless other entities that are in the same boat, but they still have extraordinary measures/piles of money dedicated to other obligations, at their disposal. Or the ability to borrow of course, but someone needs to tell these jokers that the ability to borrow or print money for that matter can only address a liquidity crisis not a solvency crisis.
This is bullish!!! Rally time!!!!!
Throw those pathetic banksters out of Europe already.
throw every one of the pathetic satanist zionist marxists off the planet already
How do you technically throw a nation out of a continent? Greece is the cradle of the democracy in Europe. They can be shown the door out the Eurozone but that's about it!
To wolferl:
*Squawk* *Squawk* Polly want a cracker.
Perhaps, instead of just repeating yourself, you can say how? Which Article of which Treaty?
Greece can leave voluntarily under Article 50 of the Lisbon Treaty - but that is not "throwing those pathetic Greeks out of Europe".
What no bold font, you are slipping Wolferl...
They will do a deal as things are crashing, just in time to save the day and make a butt load of money.
Dijesselbloem! You magnificent templating bastard!!
...or any other week.
Start the can kicking.
I see the headlines "Deal to be fixed in __months". Pick a number.
OK, now we know the REAL reason why markets went all cattywampus 15 minutes ago.
Yes, I just used the word cattywampus. I'm very secure in my own identity.
Real men say cattywampus. :-)
[kat-ee-wom-puh s, kat-uh-]
I don't
that's too close to "real men" and "caitlyn"
Just as I said, the algos are happy to reverse it if it means a stronger USD again. PM's will now go down below the start...
Did he change his name to Caitlyn?
That's Disturbing
Now that is William...Telling!
Jizzumboom crushes greek deal optimism...until he can get the proper trades in so he can profit along with all his bankster buddies.
Send money to Greece to pay the IMF loans please
Dijsselbloem, the Eurogroup president, and Moscovici the EU finance commissioner, contradict each other all the time.
Just goes to show the EU hierarchy are running around in circles.
Or are they playing "good cop" and "bad cop" to counter Yanis's Game theory chess game?
In any case this awesome plate of spaghetti called the EU oligarchy has to be eaten (and beaten) when hot and bothered, is what Yanis and Tipsy seem to have decided.
This is beginning to look like a never ending Keystone cop movie with Yanis playing at the eternal Tramp !
falak, the term oligarchy is very important, and you do a disservice to many by confusing it.
those are "EuroCrats", if you really need a dispregiative term. Appointed Ministers of State, by their national Parliaments
an oligarch is something completely different. many, many more assets, for starters
I agree with your formalism and I apologise for not respecting it.
But my own perception is that the Oligarchy they actually represent is the Banking Oligarchy now in total runaway mode.
So the elected of EU group are hamstrung by the reality of the runaway casino.
If we want to understand underlying CAUSALITY of this crisis then IMO we should look at the reality behind the curtain and not at the formality of the front men.
Until the Political class gets its agenda in place for it to be transparent and for acts to represent political pledges, we are in the turbulent zone of fake representation and that is like Blatter today!
You were doing so so well up until 'Blatter'.
You should have said fake/corrupt UEFA which has destroyed FOOTBALL (for the FANS anyway) with it's endless manipulation of drawing/dragging out Champions LEAGUE football and EUROPA LEAGUE.
For example and just in case you are not a football man.
Used to be that the 2 competitions were called the European and Uefa Cup. Cups are knockout competition with ONLY the CHAMPIONS ( winners of each countries league + holders being able to participate). Now you can Qualify in certain countries by finishing 4th in your domestic league ( England, Italy, Spain, Germany . . . )
This is a NONSENSE and typical of the Corruption that is BANKSTERCORPMEDIA. How can finishing 2nd , 3rd or 4th entitle you to be called Champions of EUROPE?
You are then split into 8 groups of 4 teams playing against each other home and away. JUST ANOTHER EXAMPLE OF DRAGGING THE COMPETITION OUT FOR PROFIT AND FLEECING THE SHEEP, er FOOTBALL FANS TO PURCHASE SKY SPORTS SUBSCRIPTIONS FOR COCA_COLA ADVERTISING. A FUCKING FARCE.
THESE SAME EXECS WANT TO GET THEIR HANDS ON FIFA. FUCK-OFF
I don't judge between pot and kettle; the whole thing is sytemic and corrupted by the Sponsors, who pay these so called "national league rep" shills; as its no longer about sport its about MONEY HONEY !
Ghordo, would you be kind and explain to us ignoramuses when did you vote for Juncker to become President of EC (or, for that matter, Mogherini to become HR for FASP)?
BTW, screw you and your corrupt, inbred, revolving-door, crony EuroCraps!
well, I could begin with the Conservative Convention in Dublin, where he was proposed and voted on by the EPP as "lead candidate". Cameron took his Torys out of the EPP, so no Brits, there
then, I could point out that the Council met and proposed him as their "civil servant in chief". the Council is the Prime Ministers of the member countries, btw (Cameron was against, alone)
but the key point is that both Juncker and Mogherini had to be confirmed by a vote of the European Parliament. same procedure as ministers, you see? appointed
the whole is based on Parliamentarism. which is the prevalent constitutional mode in Europe
what exactly is your beef with Juncker and Mogherini, btw? which candidates would you have preferred?
European "Parliament"... Now that's a crock. Nobody in Europe votes for anything related to the EU. The people barely show up to vote for their municipal critters.
EU Parliament is full of statists. They will vote the status quo no matter what. The status quo is to cowtow to US imperialism and sack all opposition to "Pax" Americana. You're a vassal and a dreamer.
either you are for a Republic based on democratic principles or not, but your argumentation here leads to nowhere. I'd say you might be dreamer, between us two
Sorry, you missed the subject. My question was when did YOU vote for them.
Besides, in Constitutional Parliamentarism the Parliament votes on appointing existing elected MP's as ministers/ members of the Government. Whereas, in quasi-Parliamentarism, such as your adored EU, you can pick some bum from the street (or, for that matter, from Goldman Sachs) and "elect" them to be whatever you want them to be.
My beef, as you put it, with Eurotards in general is that:
1. I was never asked whether I want some Belgian idiot to be the head of a European wannabe-Empire; and
2. Because all individual member-states' decisions within EU are based on their own best interests (as per your earlier comments Ghordo), I would never entrust someone else than my own compatriots to speak in my name. Would you?
ThirdWorldDude, your question was leading to a direct vote of executive functions, which is against the principles of parliamentarism
whereas you cannot be serious: neither Juncker nor Mogherini were "picked from the street". the first was several times PM of Luxembourg and the second was the Italian Foreign Minister
the point is not who is appointed, btw, it is who appoints. and can recall and exchange with another
you have a problem with parliamentarism, and this is highly visible by your references about the Squid, leading to Italy and Greece
show me. show me any system which you find superiour. or tell me who your compatriots are
what you forget is that a not-directly-elected executive has less authority then one that is directly elected. it can be thrown out, anytime. which is actually what you are railing against, eh? that some of them were thrown out by their parliaments
I vote for my MPs. that is the price of having multy-party setups. now show me a better model. but, for my constitutional preferences, it has to have a disposable executive, a leading legislative, and it has to allow plenty of parties sharing power, preferrably through coalitions
Automatic removal from office for any violation in code or law, they aught to know better. Hows that for a "better model".
Parlamentarism in it's original and most sacred form also includes the right of the electorate to recall an elected MP if they are not acting in accordance with their given mandate (see: Switzerland).
Ever since this crucial element of democracy was removed, Pariamentarism has become a charade, Frankenstein's baby who's only self-serving purpose is to empower the vicious circle-jerk between Government and Oligarchy.
"the point is not who is appointed, btw, it is who appoints. and can recall and exchange with another"
Thanks for your honesty and succinct description of how we got where we are today...
"the point is not who is appointed, btw, it is who appoints. and can recall and exchange with another"
Made me think of a recent speech of Mogherini at the Brookings Institution, where she apparently had been some kind of an intern/fellow in the past.
The bigshot who introduced here, former ambassador to Israel Indyk if I remember well, joked :"I knew here before she was famous"
This elicited quite a bit of laughter. I took it as a possible inside joke for the Brookings crowd ( like, of course I knew her before she was famous, I (we) made her famous ).
ThirdWorldDude, are you in any way trying to be serious, here?
"Parlamentarism in it's original and most sacred form also includes the right of the electorate to recall an elected MP if they are not acting in accordance with their given mandate (see: Switzerland). "
most emphatically: no
have a look at this article: http://en.wikipedia.org/wiki/Recall_election
Switzerland has something like 26 "cantons", i.e. semi-sovereign states and only six of them know something like a "recall referendum", where there is no such thing at federal level
don't misunderstand me, I find recall referendums with the implied initiative right to start them very good, but claiming that this is "Parliamentarism in it's original and most sacred form...", well, where did you pull out that?
my point, which you seem not to want to even see, is that the elected legislative appoints, or recalls, the executive
again, in simpler words: People elect a body, a group, in order to be as well as possible represented. and that body appoints executive power and monitors it's doings. That's the spirit of Parliamentarism
You need to get reeducated Ghordo.
"(Representative democracy) is an organization which gives birth to the dominion of the elected over the electors, of the mandataries over the mandators, of the delegates over the delegators. Who says organization, says oligarchy. Historical evolution mocks all the prophylactic measures that have been adopted for the prevention of oligarchy." a.k.a. The Iron Law of Oligarchy.
Robert Michels - "Political Parties: A Sociological Study of the Oligarchical Tendencies of Modern Democracies" (1911)
the only way this shitshow ends is with martial law in effect and the greek people revolting thru it - complete open civil war - that will be the sign of the end
Default already Greece. Lead the charge towards the truth that none of this is sustainable and it is all a big lie.
Dijsselbloem will be getting his check deposited for sure.
Boy, talk about the tail wagging the dog. Greece has the nazis by the short hairs and has little to lose by putting a gun to their own head. This is another wash, rinse, repeat . . . as soon as the stock markets (always the stock markets) crack, the nazis will fold like a cheap suit (being yogi-est there). BTFD
"Deal". This implies both parties need to agree to the outcome. Time marches on and the money changers will demand compensation. Will Greek politicians have the stones to counter? Not likely. And without a substantial standing army, the Greek people will be told to assume the position.
Of course there's no deal. Another 7, 10 or 20 billion won't fix Greece. Maybe a 50% debt cut PLUS some fresh spending cash to see them through.
But who wants that? That's an awful lot of good money after bad money.
Greece defaults, goes back to Drachma and the debts get sorted out in the courts and paid in Drachmas.
It's the end of the road one way or another.
Guys, guyz, guize!
Ur reading it wrong. What he actually said was 'this weak deal is not possible'. Not 'this week'. Well, maybe both.
'This'll blow 'em' thought Dijsselbloem.
So what time Friday do we find out? Before or after the markets are closed?
The final "deal" will consist of Greece agreeing to anything and implementing nothing.
Looks like it may be either Deutsche Bank's option #1 outright default, or #2 - 30% Agreement reached but will not be passed through parliament = DEFAULT
SYRIZA cadres say Greece will not accept 'ultimatum'
Tues, Jun 2
SYRIZA parliamentary spokesman Nikos Filis said that the government would not sign an agreement that was incompatible with its anti-austerity program, becoming the third leftist party official to say that a take-it-or-leave-it deal with the country's international creditors will not necessarily pass muster in the party's ranks on Tuesday.
"If we're talking about an ultimatum... which is not within the framework of the popular mandate, it is obvious that the government cannot co-sign and accept it," the usually outspoken Filis told Antenna TV.
...
Deputy Prime Minister Yiannis Dragasakis, who is known for his usually moderate tone, said the Greek government will not accept "any ultimatums" from the European Commission, European Central Bank and International Monetary Fund.
http://ekathimerini.com/4dcgi/_w_articles_wsite1_1_02/06/2015_550577
What ever the Greek team does, they should avoid bringing union stewarts to sit in on the meetings and giving them equal table air time. Might stall the entire process further. They should make sure they don't bring the most stubborn and dumbest son's of bitches that live and breathe their union guide books along. The whole summer might be spent discussing the terms in the glossary, the outlook calendar notifcations, the colour of the paper and the notification systems for all the stakeholders in the unions effected by the changes. Whole process would run the clock that the ECB doesn't have but it's important to make sure that the unions have their say in the matter to make sure of clean hands.
Wait a sec - do you mean the European Union isn't a labor union?
[embarrassed] Oh... never mind, then.
Does anyone actually trade on what these guys say?