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Stocks Rebound On Greek Bailout Extension Proposal, One Already Slammed By Tsipras
DAX futures have jumped 50 points (back above 11,000), and Dow Futures are up 60 points off the day's lows as yet another Greek rumor headline hits the wires. While the market reads the WSJ headlines on the extension of third Greek bailout to March 2016 as positive, Tsipras has already, according to the WSJ, rebuffed it as "unacceptable" because in exchange for the offered extension, Juncker and Dijsselbloem require implementing policy overhauls as well as pension cuts and tax increases, both of which just happen to be the Greek 'red lines.'
The apparent good news from the The Wall Street Journal:
Greece’s international creditors have suggested extending the country’s bailout program until the end of March 2016...
And the bad news:
... but disagreements over the conditions attached to the continued support and what would happen afterward risk undermining that plan, three people familiar with the negotiations said Monday.
In exchange for bailout extension, Juncker and Diesel required "pension cuts and tax increases.
And the even worse news:
Another factor holding up a deal is what would happen after March. One of the people said that Greece insists it doesn’t want a third bailout program—which many creditor representatives believe is necessary—and doesn’t want to follow spending conditions laid out by its creditors beyond March.
So who gets to tell the Greeks the good news they can continue being a colony of Germany only if they collateralize their left kidney?
In short: another attempt by Europe to sweeten a deal which was already a non-starter for Greece, which repeatedly said over the weekend the only proposal in play is the one it itself drafted, and not that of the Troika.
For now, whoever, the upward momentum ignited algos are trying to grasp the nuance.
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Can gonna get kicked again?
Optimists are NEVER pleasantly surprised and the can is gonna get the shit kicked out of it while the tsunami continues to roll in....
Another year of this crap? Not.
Greece is saved, man!!! They were about to go under for the last time, but I think they are saved, now!!! Quick!! throw them another cement block!!!!
Throw those pathetic Greeks out of Europe already.
Europe blinked. Suck on that
DEFAULT already, dammit!
Greeks are doing a fine job of making sure that the EU/EZ/ECB come out this looking the blameworthy party, which when all is said and done is right and just, on balance. IMF is getting coated, too.
Hilarious...lmao. This made me laugh!
Why not 4EVA
That's what it is anyway
It's a real Mexican stand off- the creditors have to know by now- they ain't never getting paid. And the Greeks still wonder how much policy change demanded by the Troika, they can stomach. Really- nobody wants anything to change at all, but the bills are coming due, and there's no way they are gonna get paid.
Now that they obviously know Greece has no intention of paying, like really really...REALLY, no intention whatsoever, they are probably trying to figure out how to lure Greece to accept postponing the payments untill March 2016 so at least the big institutions/investors and thwir friends can dump their worthless positions onto someone else(ECB?) and distribute all defaulted debt onto European public. And then let the system implode.
Extend & Pretend
Pretend to extend.
Like a hampster on a wheel, running like hell and getting nowhere.
EU blinked
So many conflicting arguments from so many different players.
When are the nation states going to wake up that they're all being played like a fiddle?
Politics is always the answer in our modern world. Now what was the question?
whooh........... I wuz worried
I don't know how anyone can keep a straight face.
Tsipras is a double agent. He works for the banks. Nothing else esplains his actions. You don't do whatever it is you're going to do AFTER you've been bled dry, you do it BEFORE THEN.
If he's going to take the bail-out then take the damned bail-out already. If he's leaving the Euro, then leave it whle there is still something left in the country to rebuild with.
Ah, who gives a shit. All that matters is that the can got kicked for another day to make markets happy.
The Greeks should offer one thing to the EU..... nothing. In exchange for nothing the EU will give Greece more money and the Greeks promise to not blow up the system. The EU can keep pretending they know what they are doing, keep pretneding they are in complete control, and the guillotines stay locked away a bit longer.
Stocks down almost every year there's been a Triple Crown winner ( 9 out of 10 ). Be very afraid.
https://www.bespokepremium.com/think-big-blog/why-the-bulls-will-be-rooting-for-any-horse-but-american-pharoah/
Yeah- but this time is different!!!!
So they delay all June due payments to June 30 and pay combined , that should certainly help matters.
Then they stop paying out June pensions and stop pay to government workers end of the month.
Just pay everything they have to the IMF.
Fixed it !
everythings just gotten fucking ridiculus
"just gotten"?
BTFD its software stupid
Lol, talk about jamming it down their throats. The "patient", in this case Greece, is finally sobering up enough to say that enough is enough, while the "doctors" are already prescribing more drugs that they believe is neccessary. Not only that; they see it as the only solution! So yes, Tsipras called Junckers bluff from yesterday, because even Mr.Juncker knows what will happen if Greece defaults. Financial markets may not collapse immediately but it will be a good start.
"Another factor holding up a deal is what would happen after March. One of the people said that Greece insists it doesn’t want a third bailout program—which many creditor representatives believe is necessary—and doesn’t want to follow spending conditions laid out by its creditors beyond March."
Lmao, what a bunch of hypocrits! Are markets really buying this sh*t? And they have the nerve to call heroinaddicts junkies...
Greece is the first domino and those ECB/IMF Brussels Bandits know it.
If Greece leaves the Euro and EU, so follows Spain, Italy, Portugal...
It will get down to France and Germany as the "EU". Oddly enough.
This charade should actually make even the most inherent believer of this fake recovery realize what a freakin' BS this whole financial system is. It's so ridiculous it's beyond pathetic!
I don't think the markets are going to hold up until 2016. The longer the Greeks wait, the more destitute they will become.
It's better they start rebuilding now, so they're out in front when the rest of world falls down the sink hole.
You brought up the one thing I look forward to in all of this. Not making it to the end of Obama's 2nd term. So I can say "Obama's fault" for the next 10 years.
AMEN!
"Stocks rebound" the key point here; they will kick the can and keep giving Greece money one way or another to keep the EU bankster dream and equity casinos alive.
It's not likely stocks will maintain their up shot as this look at the DOW explains...
http://www.globaldeflationnews.com/dow-jones-industrial-averageelliott-w...
Why don't you jusk ASK him for the money Eddie....
He sure as hell can't take a hint!
- Aunt Adna, Vacation
"Sure Greece, how much do you need?
<open wallet>
"About 300 billion euro"
<stuffs euros back into wallet>
"My dad says im a real good french kisser" Eddie's daughter, uncensored verion-some prints have this cut out
Of course I meant Aunt Edna!
Stock rebound.
In unrelated news there has been another uninspired and unsupported Greek bailout proposal.
There ... fixed it.
Troika is no more.
Tsipras destroyed any credibility the US controlled IMF had. The IMF will have to accept whatever Greece is nice enough to offer.
EU next on the agenda. Already looking like the bumbling idiiots they are will be allowed to save face by making a few offers that make them look like they are still somewhat in control. The final offer will be a writedown of 90% of Greek debt.
And then Germany, well lets leave that one for another day.
Tsipras holds the key to the possible collapse of the entire western central banking system. If Greece defaults, the so will Spain, Portugal and Italy. Derivatives based on PIGS debt will bankrupt everyone in the western financial system.
Remember Yanis the giant killer and his study of game theory? Well, he has already killed the IMF.
Again I tell you, it is easier for a camel to go through the eye of a needle than for someone who is rich to enter the kingdom of God.
What makes them think that even if the say they will take the pension cuts and higher taxes that they do it???? Are they really that retarded?