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Germany Talks Back Latest Greek "Fix" Rumor, Futures Refuse To Drop
Surprise! Germany has begun to talk back their exuberant headlines over a Greek compromise. As Reuters reports, Germany will only accept a cash-for-reform deal between Greece and its international creditors that has the approval of all three lending instutions, a government spokesman said in response to reports that Berlin was considering easier terms, "all else is pure invention."
As Reuters reports,
Germany will only accept a cash-for-reform deal between Greece and its international creditors that has the approval of all three lending instutions, a government spokesman said in response to reports that Berlin was considering easier terms.
Asked about a Bloomberg report that said Chancellor Angela Merkel's government may be satisfied with Greece committing to at least on major economic reform sought by the creditors, the spokesman told Reuters: "Germany will only accept a proposal of the three institutions. All else is a pure invention."
The spokesman said Merkel and French President Francois Hollande would meet Greek Prime Minister Alexis Tsipras for an update on Greece's debt negotiations later on Wednesday after a inner at an EU-Latin America summit in Brussels.
Merkel said earlier that her message would be that Greece must negotiate with the institutions representing the creditors.
Tsipras, who has rejected several of the creditors' key conditions for a deal to unlock frozen aid, has been pressing for a "political agreement" among leaders to break an impasse in detailed negotiations.
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EURUSD has faded back all of the headline gains... but for now US equity futures remain convinced.
Charts: bloomberg
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Wow I'm shocked
Germany has no choice to eventually accept another Greek bailout. As much as Germany complains about Greece in public they LOVE this country? How can that be? Countries like this hold the Euro's value down. If Germany was back on the Deustche Mark their currency would probably be 2x times the price of the Euro and would kill their massive export business throwing the country into a larger recession just like Greece, Spain, Italy, etc. So instead Greece gets destroyed while saving Germany's export business. Funny how that is working out?
So as much as they complain, shudder, shout and scream. In the end, Greece will remain in the Euro and Germany will shoulder another bail out.
Is this like the 200th rally on a Greek fix?
Let Germans fix their humor instead of rumor.
Way to go Germany!!!
Throw those pathetic Greek dead beats out of Europe already.
As opposed to throwing those pathetic American (or fill in the country) dead beats off the planet already?! BTW, are we really talking about dead beats when the average Joe, Jennifer and Nikos are being given the thumb screws by the bankstas?
Let Germans fix their humor instead of rumor.
oans, zwoa, g'suffa!
There's still plenty of economies to keep the euro low, Portugal, Spain, Ireland not to mention the east european varieties. And France, don't forget that other great unreformable land of the unwashed still resting on the laurels of past endeavours and unfulfillable pension promises
Germany would rather have Greece owe it to them forever than accept that they were cheated. Delusion can be very expensive to maintain.
Shocked!
straight up and sideways for the rest of the day...
http://www.marketwatch.com/investing/index/DJIA
perferctly explainable.....
...yes, tell the kiddies that this is simply "normal market behavior"...
just the same, I am going to do some selling into the close...
Don't get trampled in the rush.
shocked beyond shocked!
shocked and appalled actually.
Must. Stay. Above. 18k on the DOW. At all times.
When hanging from a rocky precipice it always makes sense to continue the climb and NEVER look down.
for months, years even, I have have asked all ZHer's, and no one ever says they will - loan a dime to the Greeks. Why would any one?
I would never have lent them money in the first place,and.
I have a Greek brother in law, and nieces and nephews.
Why would you buy a fake Rolex? Either it is because you think you are getting a deal, or you think you can sell it to someone else who thinks they are getting a deal.
No one is buying debt to hold. Its just another trading currency looking for a muppet. A barter economy deprives the speculators of a lot of opportunities to make a quick discrete profit, whereas currency was made for just such purposes. Real assets, those things that can actually be used or consumed will always have some relative value, whereas currency assets are designed specifically to lubricate the trade and are easily manipulated as to "value" as one is only purchasing such things, not to use or consume, but to sell to someone else. Zero productivity, zero wealth creation....just trading something for as close to nothing as possible.
yes, but at least for a while, currency creation required real collateral. Not anymore, this makes hyperinflation and/or the death of fiat currency 100% assured. Timing is everything.
Allow me to clariy this for you;
A real physical silver dime? - no way in hell!!!
A make-believe paper/digital dime? - sure, why not?
Did you miss the part where modern money creation no longer requires the creditor to actually create or have any real collateral?
Time to wake the fuck up bub.
Kick the motherfucker further down until the foot is no longer.
Obama should just go ahead and sign an executive order banning short selling. It's essentially what we've got anyway
I would advise to go a bit easy on the bearishness, Tyler & co. Can't you smell that a deal is coming?
Has nothing to do with reality. This is the TBTF/Fed line in the sand; 18k, 5k, 2.1k.
i always thought germany would blink based on weidmann & the bundesbank folding on european QE. he was my favorite current central banker (only one ever other than volcker) until he buckled. bottom-line, nobody wants their fingerprints on popping this bubble. higher it blows, the more pressure these guys feel to "do something rather than nothing." i get the feeling social media has an element to this too; with all these guys & world leaders on twitter, seems like they are more concerned with being liked rather than doing the right thing.
not me, id be the first mo-fo to blow this thing apart & id be straight-up about it. my 1st press conference as fed chief would go something like this "folks, you've been lied to, well, since volcker held this chair. we've had a shitload of inflation and thats why your paying more for shit. this is gonna hurt but i have to jack interest rates so we can crush the high prices your paying for shit like housing, rent, healthcare, gas, food, movie tickets, ballgames, toll roads, taxes, etc. oh and as for those assclowns in congress who are gonna bitch & complain that we are going to have way higher debt servicing payments as a result of my actions, this is the only way of breaking the vicious cycle of central banks monetizing the debt while allowing congress to rack-up deficits & debt that they will most likely never need to worry about but generations after us will have to clean up a nuclear implosion of the local & global economy. only until those jackasses in congress are FORCED to start cutting spending, will they do it. one last thing: no need to thank me - your kids & grand kids can do that for you."
Just don't drive past any grassy knowle's
Germany should be more worried about getting their gold back.
That didn't take very long.
Here's my shocked face.
8^O
I could use a few million euro today. Increase my short position in futures and then publicly announce that we do not have a deal with Greece... Oh, and clear my schedule for the day and get my plane ready. I'm going to the beach.
-German Official
This is getting old. blah blah blah. Time to turn off the TV, stop reading 'news' on the web, shut off the cell phone and live life in the real world.
Germany will cave, like they always do as Grandma Yellen licks Grandma Merkel's labia with a backdoor Fed Backstop
Greece is doing just fiiiiiiine. That's why last Friday Greek bank withdrawls spiked to 700 Million Euros (3.4 Billion total from May 27-June5). Uh huh.
Doesn't matter, the dow had to get back to 18,000 and the S&P to 2100 by fiat.
The Greece resolution will get positively discounted 20x the number of times it is negatively discounted. Zero rates will do that.
possible bailout extension until March 2016....
In the end, if 'push comes to shove', Merkel will throw German taxpayer money at Greece _without limit_.
If need be, Germany will stand behind every unpaid Greek bill as it falls due.
There is simply no general appreciation of the strength of Merkel's desire to keep the United States of Europe dream alive. Only those who have grown up under East-Germany's propaganda/guilt trip over WW2 can fully understand this.
Because of this, Greece will never, ever, be thrown out of the EUR-zone.
The only way Greece leaves the EUR-zone is if Greek politicians formally pull Greece out.
If Greek politicians do nothing (optimum strategy), German taxpayers will pay the bills.
No, it doesn't make sense...but Merkel is very popular in Germany, and only recently won an election.
So this situation could carry on _for years_.
Watson
In plumbing, it's called a "check valve"
I think it's a diode in electronics. allowing electric to only flow one way
Has NASA been merged with the PPT?
Results are generally the same
Launch, then orbit
Except they keep forgetting about splashdown
Must be the pussies are afraid to get wet
Isn't it an amazing coincidence that the ECB announcements came out at precisely the same time (to the minute!) that SPX reached its 50-day moving average as well as the top of a rapidly falling price channel?
http://pebblewriter.com/different-day-same-rigged-markets/
Isn't it even more amazing that this great news came on the very same day that USDJPY was walloped by Kuroda's announcement that "the yen is unlikely to weaken further", which of course is the last thing in the world a yen carry trade fueled "market" wants to hear?
http://pebblewriter.com/did-kuroda-just-kill-the-bull-market/
If I didn't know any better, I'd think there was something fishy about these "markets" of ours...