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Saxobank CIO Explains Why The Greek 'Problem' Won't Be Solved
"Even if a deal between Greece and its creditors is struck, the problem isn't solved," warns Saxobank CIO Steen Jakobsen, which leaves the door open to a snap election being called shortly and a referendum on continued membership of the EU just weeks later. Debt refinancing will be the first issue, with the country needing a significant discount. But how can the country secure that, asks Jakobsen, when the government is unwilling to bring in significant reforms?
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Another Captain Obvious commercial...jeez...
Silence of the Greek lambs:
Troika to Greece:
Pays the Debt or gets the hose
No new elections.
Reshuffled government. Syriza coalition with KKE.
The main KKE demand is "Default, no more negotiations with banksters". That demand can now be met.
as we saw in the housing crisis the banks are not fond of principle write downs to the point of destroying themselves to prove their point.
Please, banks are not "banks" anymore. In fact, now that money/credit creation no longer requires any real collateral and banks no longer pay interest on savings bankers and financiers are nothing but overcompensated middlemen between the computer/printer and the producer/consumer in the real economy.
fuck em.
right U R. Doitsche Bank wants to "divest themselves" of the "retail Banking business". any banker worth his bonus realizes the money aint in the savings and loan no mo.
playing for pennies a month in interest is SOOO yesterday. invest! land and other commodities and trucks of free gubbmint money are SOO much more lucrative if you are allowwed into the club. if you're big enuf to rig, even better.
pays and gets are not imperatives
Subject: Imperatives
This was my attempt to parody the line by serial killer Buffalo Bill from Silence of the Lambs:
'It rubs the lotion on its skin or else it gets the hose again'
i see
The Greeks want to compromise without being compromised, the Troika wants to compromise Greece without compromising.
Syriza is just negotiating in good faith, showing up and sticking to their guns to actually restructure and reform while the EU is just showing what a fucking mess things will be when things really hit the fan later on when the Greece issue is long done and gone and other (larger) perephery nations start to feel the heat of too much debts and that can feeling like it's full of cement when they go to kick it.
The more I listen to Yanis talk, the more I know they are fucked since the EU has no intention of negotiating actual debt cuts and actual reforms that makes Greece healthy economically in the long run.
They just want to treat Greece like a third world country and gut the place, buy all their shit for pennies on the dollar and still stick their rotten STD ridden cock on their ass and force them to pay back every last odious debt that was issued until the country perishes. European Union indeed!
If you are a Libretarian, Greece is doing Gods work fighting the rotten Troika, ECB and IMF.
Yanis Varoufakis - Greece Is The Libertarian Wet Dreamhttps://youtu.be/kI-vqlzvBds
"Reform" = "Fuck the citizenry"
Unfortunately both the Greek citizenry and the European citizenry have got it coming to them. The order in which it happens is the only outstanding issue.
Why isnt Icelnad holding some high, mid-range, or even low level talks with the Greeks?
Look what we did here.
Exactly, the Icelanders DID IT. The Greeks just can't do it. No bankers jailed, no politicians jailed ( other than one token asshole), no bureaucrats jailed. When the Greeks wake up they might realize that the IMF and Europe are just conducting another Persian invasion from the opposite direction.
Because in Greece most of the problem is the government employees...all the socialism is killing Greece....work and do nothing....and get everything...it bought votes and still does..the FSA is alive and well in Greece.....then add in that no one pays taxes even if they owe them....a double edged sword....they need a reset...they are just stealing money now....
To solve the problem is not in the interest of the rent seeking Lords. They would want a lot of these kind of problems. As I stated earlier, The Lords are just learning how to do God's work on the menials. Once they perfect the art, zerohedge, even your blog will be brought down..
http://just-a-thought-from-thinair.blogspot.com/
this guy could be a ZH commentor...if he had said this years ago. his take on "impacts on the markets being zero" though..don't think so.
the IMF Eurocrat late-stage snub is Gladio C. They are twisting the knife. There is no solution and the theatre is to disguise this fact. The coming crushing of greect is the mafia act of showing the not yet compliant (FR,SP,IT...) that it could also be steamy for them should they show any resistance to the protection racket which is the Euro.
Yeah, debt refinancing will be the first issue. For whom?! Not just the greeks, and that's the whole point. Greece is about to burn the curtain, behind which the others are hiding. Now guess who "they" are ...
I was hoping we could put it off...but it looks like we're down to brass tacks here.
Well....this should be fun.
>>> But how can the country secure that, asks Jakobsen, when the government is unwilling to bring in significant reforms?
By defaulting on all government and real estate debt. Simple.
Sell to China (port) and Russia (gas).
Hey banker fuck, just give them a printer like yours!!!
Problem solved right?
The Greeks have got to be a nation of complete morons.
The choice looks pretty straight forward from my admittedly distant vantage point.
1 agree with troika, stay in the euro and continue to circle the bowl until you lose everything. But maybe you personally get lucky and die before the bankers take everything in exchange for your measly monthly stipend.
2 tell bankers and their countries leaders to pound sand, default on debt, leave the euro, start your own printing press and bootstrap your economy.
There is no default and nothing changes option. And fyi there is no Santa Claus, easter bunny, or tooth fairy.
there is no Santa Claus, easter bunny, or tooth fairy.
Wait......what?