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Varoufakis Confirms Greece Will Default To IMF Today
May as well spoil the ending of what happens at midnight local time today. Nothing (as previously reported). From Reuters:
- GREEK FINANCE MINISTER SAYS GREECE WILL NOT PAY IMF ON TUESDAY.
Visually:
AP has the well-known by now details:
Greek Finance Minister Yanis Varoufakis confirmed that the country will not make its payment due later to the International Monetary Fund.
When asked while walking out of the Finance Ministry about whether Greece will pay the 1.6 billion euros due to the IMF, Varoufakis said "no."
His comment came amid speculation that Greek Prime Minister Alexis Tsipras is trying to craft some sort of last-minute deal with creditors before the payment is due and before the European part of Greece's bailout comes to an end.
A Greek official said Tsipras has spoken with European Commission President Jean-Claude Juncker, European Central Bank chief Mario Draghi and European Parliament president Martin Schulz.
The official did not reveal what was discussed.
To which Merkel had a prompt reply:
- MERKEL SAYS GREECE'S BAILOUT RUNS OUT AT MIDNIGHT
The default may be in the books, but the bluff continues: can Greece default in the Eurozone as Varoufakis has claimed all along, or will the collapse of the Greek banking system tomorrow after the ECB makes the ELA illegal topple the government? Find out in a few short days.
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Bout fucking time!
Sheeesh..
Is it Thursday yet??
The Sheep Rises....
Oh, I almost forgot... Fuck you Ben Bernanke!
I'll start the popcorn.
I'll take 2 large buckets with xtra butter and a 6 pack o' beer
Now we need to watch ClG @ IMF and the Danish central bank.
'Default' is such an ugly word. Sounds like something that might trigger a CDS. Couldn't we call it something else? Like 'inadequate debt servicing' or maybe 'fiscal and competitive enhancement'?
Hell, we've destroyed the meaning of just about every other word, where are all the wordsmiths when it comes to default?
EU is going to want the hamburger back...
From Bloomberg,
- ISDA SAYS DEFINITELY NOT A CREDIT EVENT.
Now I am become debt, the destroyer of worlds...
The Great Global Debt Default Of 2015
since nothing is wrong with stocks about this announce and even some try to get back the yesterday loss, cac +0.30 @ 2PM.... time to say, fuck you stock market, all dip were bought, time to skyrocket, as usual, of course.
fuck that, i am too smart to follow a non event such that crap.
Let's not applaud yet. If they confirm that they're defaulting today, then I'd wait till tomorrow and see what actually happens.
We've heard this song and dance before.
OK OK OK OK I had to do it .... CAn't help myself
"I will glady pay you next Tuesday for a default-burger today"
This is not a Lehman event, this is a bear sterns event. The Lehman will be Spain, Italy, maybe Ukraine.
Is it merely a coincidence that only yesterday China, with much pomp and ceremony, officially founded the Asia Infrastructure Investment Bank (AIIB), and now today, Greece defaults to the IMF?
http://www.nytimes.com/2015/06/30/world/asia/xi-jinping-of-china-hosts-n...
Is it possible there is some relation in these two events? Perhaps Putin and Tsipris talked about many things that didn't hit the headlines.
odious debt..seems MSM did not like that term and we don't need to think about Odious debt as it makes the lenders seem, well criminal. P rico seems to be playing the odious debt card as well.. "We can't pay"- is just fact, the banksters are not amused.
it reminds one of the adage Police use every day..the guilty always talk too much, as the lies become ever more complex, the innocent usually just state short facts.
that is why obuma care is thousands of pages, it and many other "laws" are based on lies and the guilty playing innocent.
It appears Greece is a triggering point. I believe its ratio is 175%. I don't know if this is accurate:
"Italy's debt now accounts for 259% of its GDP and France’s is already at 280%, with Italy's budget deficit at 3% and France’s at 4.2%." http://sputniknews.com/politics/20150629/1023983032.html#ixzz3eW4TckHU
keep up the good work my HERO
DEFAULT THIS ILLUSION
The creditors wish to enforce an anti-democratic upward transfer of wealth. Syriza stands in the way of this.
The Greeks think they are American students or homeowners who can simply walk away from their loans.
Unless the Leopard 2 A7's ready to roll, then there's not much anybody can do. Greece has alternatives galore. Russia, new Asian bank, etc, etc, etc.
Look, this is a game of Greece bleeding the EU et al dry for a superior privileged position therein.
The debt is but the lever within the negotiations. V understands this
The EU folks, not.
<- bitcoin up
<- bitcoin down
EMP FTW
< - gold down
< - silver down
Just buy more!
A trick question, or pessimist?
Well any backseat investor/trader knows that gold/silver goes UP when there is risk in the market. The headline from Huffington Post,
Greece Will Close Banks Amid Fear Of Financial Collapseimplies that there is some risk in the market so the prudent trader would move capital into safe havens like Gold & Silver thereby pushing the price higher. But we live in a matrix like world where statistics or laws can be broken such as the laws of physics ala building seven.
I'll go out on a limb and say that the Matrix operators will let Silver/Gold run for a little before sledge hammering it, maybe setting up a nice little false breakout trap.
Funny you should mention "The Matrix".
Varoufakis does look alot like Neo after he was ripped out of the Matrix.
Does he have a socket on the back of his head?
I'm gonna cut that limb your out on. It'll be difficult to manipulate physical markets without credit. Derivatives implosion is a neutron bomb to credit.
Gotta see it to believe it. Why did they strip Greece of all its cash to make payments up to now leaving themselves in a vulnerable position, and a weak bargaining position.
Agree. Seems too staged to be real. Why the peculiar bank holiday for four days (why not five???) and ATMs out of cash? What did handing over all their cash the last few weeks accomplish?
Greasing the skids for a bad deal the Greeks can't refuse. This is all just theater. Whatever happens will be happening in a thoroughly broke Greece with the sheeple both angry and scared. It won't be anyone's 'fault'. The banks just better get something put together before the Nazis do. The Greeks are kind of crazy like that. And when that day comes to the U.S., the Americans will be worse. Far, far worse.
4 days means they are open for business on July 3rd, our US holiday.
A week without Crest Sparkling White and these cretins will sell off their children and their parents to stay in the Euro.
They could do what Puerto Rico said: declare a "moratorium on debt payments".
Oh! A "moratorium"? Isn't that, like, when you have a ceremony commemorating someone? >.>
also many futures at critical levels. int. ppt needs to come out in full force today.
200 dma in jepordy. gold and silver hammered to similar levels. is this the sell today and go away momemnt?
Futures are up. 80 million PR citizens will need low-interest loans for cars and housing on the mainland. That's a housing boom right there!
I think Greece is closer to a crematorium than a moratorium.
How appropriate when the Germans are involved.
Please don't tell me you came to ZH to peddle the Holohoax.....
Double post.
.
Maybe a crematorium on debt payments?
"Trading Harmony" is what EU regulators call suspension of trading in Greek bonds, so maybe the IMF can call this default, "Payment Harmony"? I quite like my own, Abrogated Enrichment of Arrears. (It's copyright, so don't use that in your reports and press statements you IMF retards.)
The EMEA/ISDA has to declare a credit event for the CDS tsunami to wipe out the system, but since quite a few of the determination committee members who make that decision are also the laughable counterparties facing instant bankruptcy, I'm not sure how that's going to happen. The whole incestuous system is so corrupt, it's a bloody farce.
Fucking EU Newspeak. "Trading Harmony"
Seriously anal life view.
YHC-FTSE, you are referring to this article: http://www.zerohedge.com/news/2015-06-30/european-regulators-suspend-tra...
be careful not to fall into the (mis-) understanding that there are "EU regulators" in this matter. in fact, Tyler(s) wrote there:
"Regulators across Europe are beginning to curtail trading in Greek assets..." and
"Luxembourg’s market regulator has suspended trading in bonds issued by..."
Hey mate, good to see you around the threads. Ah yes. A regulator in the EU then (ESSF), not "EU regulator". Got it. I'll amend all future posts on the matter :)
CDS triggers and USA banking/insurance is done. AIG has still been writing those CDS off for Europe and Greece like no tomorrow.
Although perhaps the Fed would step in again to save AIG.
Er you mean enrich Goldman?
'Default' is such an ugly word. Sounds like something that might trigger a CDS.
Indefinite delay?
Which means Puerto Rico won't be paying on their "tax free" bonds, contagion fishes!
And lawn chairs.
Don't forget the lawn chairs.
Make moar ice too..
I think I'll start drinking again..
Cause I'm all out of glue...
Which of these trucks full with Euro cash is missing?
http://demonocracy.info/infographics/eu/debt_greek/debt_greek.html
interesting but imho also strange website, that one. it often sports what it seems to be it's motto, a quote of Aristotle:
"Democracy is when the indigent, and not the men of property, are the rulers"
imho it's a mistake to take the Ancients' understanding of democracy, property and "rule" and transpose their discussions in modern times without the Ancient's context
Real Greeks don't give the finger, that is just for the Western media.
Greeks thrust both palms forward to symbolize the shoving of excrement in
the face of the party they are insulting and say: " In your face!!!!"
Finally
https://www.youtube.com/channel/UC24i0-R52E-Y4PHhsjLUbYg
how long before they get a troika-friendly govt in place? it would depend on what happens to the rest of the world from here. if things keep collapsing as appears to be the case, an engineered coup might not be worth the effort, nor would the bad guys have the will for it anymore.
Wow that was a surprise! Shocking news!
So the real question is: Who's next?
We need a poll.
go on, pay'em with New Drachma
As we learned last week, Greece still has a Euro printing press somewhere in the country. The one that puts the infamous 'Y' in front of the serial number. I'd be running that bitch until they smoked the bearings out of it.
and print X's on each note... (duh, that would be evil)
New "666" denomination
No need to wear anything out, there is a pill for that now, and it wears you out.
Bullish!
greece is fucked. good ridance.
followed shortly by #fuckdaEU
Anybody heard from Wolferl? So sad he might finally be getting what he wanted and he's not around to enjoy it.
Sometimes I wonder whether Wolferl and Ghordi are one and the same. Just kind of a double mentality living inside that person, the mannered person trying to persuade you with his theories and reasoning and the blunt troll who speaks his mind over and over...well they both disappeard around the same time... ;)
@samjam7. nice theory, but I'm here, and I don't remember ever having a different account than this one
but I sincerely have little to write, at the moment, and was kindly asked to severely curtail my "output" on this blog
I seriously did not expect Varoufakis to default on today's IMF repayment (and even say so today), if you want to snigger at my comprehension of the current Greek situation
ghordo, did you have a nice greek holiday?? how about that greek investment? let me know if you want to sell it..after the drachma comes back.
hi overmed. went digging, was great. now I am in Greece, btw
Ghordo, what's the purpose of your current stay in Greece - holiday or occupation?
Pardon my curious mind, but there's a bunch of people on the Hedge that believe you're working for BuBa or ECB (some even think you're Schäuble himself... lol). Any truth in those claims?
no truth whatsoever in those claims. and neither holiday nor occupation, in my view, I am visiting friends that asked for my help in a matter that would be complicated enough without those troubles. cheers, mate
Thank you for the reply. You know what they say, nothing in EU is official until it is officially denied. ;)
Cheers and enjoy your summer!
nice to see ya back Ghordius ;) :D
fudge, I'm not really "back". You won't see me much, here. too busy, at the moment. all the best
Yeah, a couple guys in white jackets came by to get him after Greece walked out of the eu.
"greece is fucked. good ridance."
Sigh, this isn't just about Greece.
"In real dollars, social spending in every major Western nation has totally collapsed over the past seven years...
In real dollars; tax revenues have collapsed for every major Western economy...
There are two aspects to the collapse in Western tax revenues:
a) These corrupt governments refuse to tax the wealth of the Ultra-Wealthy. As the Top 1% (by themselves) now literally hoard most of the wealth in our economies; these ultra-misers have never been taxed less – at any time in history.
b) Austerity destroys revenues. For each $1 of Austerity spending-cuts; this destroys $2 of government revenues. Obviously with such arithmetic, no government can make themselves “more solvent” via Austerity, only less so."
The Facts on the Greek CrisisGreece is taking (hopefully) its first step from debt serfdom and should be applauded.
Actually, the top 0.99% are taxed pretty much to death. It's the top 0.01% - the oligarchy - who not only skate free of most taxes, compared to their wealth and income, but also consume the biggest amount of the government spending pie.
Details - they matter.
So much for guaranteed income streams created with money out of thin air, a scenario that is a banker's wet dream...
Let the dominoes fall - Portugal, Spain, Ireland, Italy, France
F.PIIS in the wind
FIIPS
You forgot USA
Yes..what if in the next few years or months all those countries default....and the USA is still on the hook for 18 trillion...would we not take the plunge too....I think so....a clean slate....then watch the politicians spend...whew...to the moon...to them it would be FREE MONEY
maybe he will be referenced "Whynotf***you"
Waiting For Go Dough...
Watch this go from bizzare to surreal.
*IMF CONFIRMS JUNE 30TH PAYMENT RECEIVED
*GREECE DENIES MAKING JUNE 30TH PAYMENT TO IMF
this is a great time for everyone to lie.
They just got one of those Nigerian guys to write them a cheque.
Wasn't that difficult to clear this whole mess up after all.
The Greeks made up some of those Trillion-Dollar Pt coins.
Extend and lie ,fuck the pretend.
Ypu're prolly right.
Friendly extraterrestrials made the payment?
Greece had a rich uncle?
They pulled a USA on the people; they went door to door with SWAT teams, flipping peoples couches and chairs over collecting all the change they found.
I hope someone hacks the Bloomberg mothership and sends these out today at 3:45pm. The volatility created would be epic.
Brilliant!
And I would'nt surpised...
putin has a check made out in rubles backed by the yuan and gold ready to personally deliver to the imf with a big fu to the eu and the empire noted at the bottom.
Just why would he let his money be used to pay the IMF ?
russia owns greece in return.
i have wondered if merkel and putin set this up so germany would have a convenient segway to escape the usa and join its rightful place as the euro endpoint of the eurasian axis of china, russia and germany. ttalk about a real axis of evil from the usa .gov point of view.
They're still a central bank
all you have is reality. everything else is wishful thinking.
reality is the briefest nanosecond of now. all we have is the history narrative we are struggling to control, and the future about which we speculate and maneuver to guide. wishful thinking? what's that?
I'm now seeing Merkel on a Segway streaking (metaphorically, because Segways don't go fast) across Germany towards Russia and into the loving arms of Vlad leaving behind the pitiful wails of vengence from the abusive and rejected churl Obama.
It needs a WB7 treatment.
old age has many excuses. this is one. unintentionally ironic that it fits.
What is that? A coulpe nail guns to the head, pull your own trigger.
I had simply assumed you meant the other kind of streaking.
Sorry for the visual.
probably works anyway. would need a WB7 food and beverage warning, is all.
Just as suspected by this website which ceased operating yesterday...
http://www.globaldeflationnews.com/
GDN also says this in the final post on his website:
"The efforts to levitate the stock markets by the world’s central banks, in particular the U.S. Federal Reserve, has created the largest credit bubble in the history of the world and one that has now, finally, begun to implode. The results will be global catastrophe beyond anything imaginable today."
Is it time to run for the trees?
And no mention of the Treasury bond market bubble?
"Is it time to run for the trees?"
Not based on any info gleaned from the GDN website. The following brilliant quote is from the founder's farewell address:
"The stock markets are the single best indicator of the changing mood of society available."
That is the dumbest statement I have read lately. Talk about a skewed perspective. Yowzer!!!
I think you took that line out of context. Backup a couple sentences.
Regardless, I wonder why he's shutting down the site.
" I know social mood is declining in Europe and around the world, not because of current news or events, but because the stock markets around the world have been telegraphing waning mood for a couple of years now. The stock markets are the single best indicator of the changing mood of society available."
I think "mood" does play an important part in economic performance.
It may not be the best word to use to describe that unquantifiable state of mind that people develop when they are fearful of the future. (Same thing happens going the other way).
How much is open to debate, but for the past 6 years central banks have created a climate of easy money and rising asset prices. Yet we still see consumer spending commitments in the doldrums. Some of that is due to many people already being over-leveraged but a lot of it is also due to a seriously bad consumer "mood" and a lack of confidence in the future.
The odd thing is that the public's mood will eventually change (God knows when) and it won't be due to a sudden major change in economic indicators. It'll be due to their own personal "feel" about the future.
every time I see a phrase that includes the segment "the yuan and gold", I replace it with "the US dollar"...
because that's what that is... a basket of dollar-pegged currency with some paper gold notes...
I challenge you to tell me how any of this is going to end well for commodity / export economies like Russia and China... every dumb fuck on this board like you thinks that when the western world starts having issues that second world economies like Russia and China will just frolick through the grass... nothing could be further from the truth... when the western world financial system sneezes the rest of the planet is going to catch pneumonia... watch and learn... and quit wishing so hard for something, you might just get what you want...
you are clearly history challenged. the torch has been passed on a regular basis and the holder of the current reserve status suffers the most in the midst of everyone having to suffer through the passing of the torch. the chines yuan backed significantly by gold holdings by every member of the brics have set up the basis for financial needs of more than half of the current worrent world economy and more than 2/3 of the people. denying that takes a deeply buried head in sand.
Any comments on Greeks using this new cryptocurrency? http://peacebytrade.com
Still can be mined with outdated mining equipment. So much more attractive than bitcoin?
Will Lagarde report the Greek default to her board?
isnt it "bored"?
EXACTLLY the correct question that should be asked.
Debt impairiment is the key issue for the EU.
And Yani needs to call their bluff.
Time to move to Iceland; they know what to do with banksters. Hot women are an added plus.
They loan you what they create out of nothing, then they steal from you what you earned from a lifetime of productive labor.
Their greed has no limit.
Stop doing business with these criminals.
send the imf 1.65 billion in bitcoin. why not, as if it isn't worth as much as fiat euro is.
I think they have received 1.65 mio trade taler....http://bit.ly/1JnYxd1
can't pay won't pay or when a default is not a default
All the Greeks need to do after the ELA decision is nationalize the banks.
If they need help, they can ask the French who nationalize their banks every 40 years or so. Actually, it will be a good dry run for the French if the recent NSA leak is accurate.
And since the Greeks have a Central Bank, they can roll out new Drachma. And then they will have a good bargaining position. Actually, the ultimate bargaining position.
Put that toothpaste back into the tube, juncker. :)
This photo is photo shopped. It is from a German made video.
Possible, but who cares?
Those who care about veracity in journalism.
Varoufakis, we are proud of you. A true blue (Greek Heritage) Aussie.
Now come back to Aussie Land and give Abbot, Hockey and Mr Fixet the middle finger salute.
This is off topic and not as it is related and is part of a huge problem affecting us all.
Where I live cigarettes cost about $14.50 for a package of 25. Cartons usually contain 10 packages. When I was in Mexico, a better cigarette could be had for $1.50 a pack which is still more than it cost to produce.
Yesterday I purchased a brand new 5,000 BTU air conditioner for less than a carton of cigarettes. What is wrong with this picture?
I unpack the air conditioner which weighs about 50-60 pounds. It is well designed, has a radiator, pump, compressor, fan, chemicals, switches, mounting hardware, electrical cord and is encased in a modern metal/plastic enclosure. It is made to fit in a window and is advertised to cool 150 square feet of living area. I purchased it at Walmart.
I also purchased an electrical receptical, a housing and 7 cans of Campbell's New England clam chowder and Sirloin Steak thick soup, they are like a meal in themselves. The total came to $141.50 including 8% sales tax plus another tax..
The label on the air conditioner Made in China.
I look at it, think of raw materials, engineering, manufacturing processes, purchases of certain components the Air Conditioning Manufacturer needs to buy as they do not make the. Then add in packaging, plant and equipment and labor to manufacture them. Administration expenses, sales expenses, shipping from China to Canada, customs and brokerage fees, then freight from port of landing to its final destination well over 1,000 miles away and they probably have a profit built in. In the 1980's the rule of thumb was cost of manufacture was roughly 1/3 of what the sales price is, which would be about $35.
There is no way in hell that I can envision Canada or the United States building a product like this with all the associated costs as described above for $35 and make money on it.
What is wrong with this? For one, the cartel called the government charges way too much for cigarettes under false pretenses as cigarettes do not 'cause' cancer.
Two, how do Americans and Canadians expect to survive when China can supply all their needs with manufactured goods? At one time a lot of Chinese exports were below the quality we expected, but were cheap. Now the quality is good, still for a cheap price. They say that China has the largest new car market in the world, means people are making some money over there. But is the money really worth anything?
There is something about all of this that doesn't make much sense, unless my cigarette purchases are subsidizing Chinese air conditioner imports or our money is grossly overvalued.
Distortions in markets can only be sustained by currency manipulation. When its going our way, all is good, but when the cycle reverses it will be hell on earth.
if the level of life in china was same as usa, trust me, your air conditioner would have add a zero to the price.
things are, china is evolving faster than any other coutnry in last 40 years and they starting to have some problems just like we had 30 years ago.
it is not currency manipulation it's the life's cost.
china is simply cheaper.
when you live 10 years in africa and with years see chinese people able to make better job than the smarteest black will never do in SAME/WORST conditions, you realize that this will never inverted.
and the fun part is when blacks say to you " chinese they eat lizardz, crazy disgusting ! "
The air conditioner would quit working after a week in China because the pollution would plug up the coils.
Clear air costs money to maintain. China doesn't add these costs.
You have purchased something that is made from crap components and quite possibly injure your family with outgassing fumes if not catch fire and burn your house down and kill your family in the worst possible way. Congratulations, now shit can it and go get a Lennox central air unit that will last decades.
you speech is same like those idiots 30 years ago saying ALL coming from china is bad.
reality is, mr idiot, what you are typing on and displaying on is made by same population.
i let your conscience realize what you just read from me.
For one thing, I highly doubt it weighed 50-60 lbs - they feel heavier because when you carry them, you can't hold it close to your body, and, because the weight in the box is not evenly distributed.
A 40-foot container from LA to East Coast in the USA, costs about $6K, or did, back when things were busy, plus the cost of the boat trip from China to the port (probably about $1K), plus about $1300 in brokerage fees. So say $8500 for a 40 foot container in total. How many of those AC units can fit? My guess, at least 800 - so shipping cost is $10 each.
The Chinese operate on thin margins, you can be sure that is doubly so when dealing with WalMart, so that is another point to consider. I think the old days of 1/3rd being the manuf. cost is no longer true.
You are right. I checked. Gorss weight is 19.8 Kilos or about 43.5 lbs.
Youll know the real price of that window unit when you have to replace it in a month.
I purchased an American made element and thermostat for a water heater. Really simple and cost me $105. All it was was an electode, a few wires and the thermostate with a switch. A lot less than that air conditioner to manufactur and it isn't working properly.
I've had mixed results with Chinese products, but lately some of it is good quality. I have no doubt this AC will last longer than a month and it has a 1 year guarantee.
We used to be able to do the same thing in the US (and Japan was able to for a while) when the government and banks were working together with the people to build this country and its industry.
Now, the government, banks, lawyers, healthcare and insurance industries all conspire to make it impossible by parasitically sucking the marrow from our bones. And, "industry" has moved manufacturing to a place where they can benefit from cheap labor.
How do you think that Apple got to be what it is? It is completely through labor arbitrage (just like the Japanese did in the 70s and 80s). Produce at one cost structure and sell at another.
Our problem in the US is that the parasites are killing the host. Somehow the parasites do not believe that they will die when the host dies. Maybe it is because they think that they will survive by being "global", only their US employees will be shitcanned.
If you want to understand how cheap things CAN be produced in the US, then look to farming and how absolutely cheap it is to produce calories from the land.
"We used to be able to do the same thing in the US (and Japan was able to for a while) when the government and banks were working together with the people to build this country and its industry"
Basel 1 finally finished that cooperation off in '74
"The presumption was that borrowing from a central bank with the power to create money on its books would inflate the money supply and prices. Borrowing from private creditors, on the other hand, was considered not to be inflationary, since it involved the recycling of pre-existing money. What the bankers did not reveal, although they had long known it themselves, was that private banks create the money they lend just as public banks do. The difference is simply that a publicly-owned bank returns the interest to the government and the community, while a privately-owned bank siphons the interest into its capital account, to be re-invested at further interest, progressively drawing money out of the productive economy."-E Brown
Cools 150 sq/ft?
Those fema cells are larger than I thought.
I hope I can bribe the screws for the same model.
Long puts on Euro stripper income
But he said "I'll gladly pay you tuesday, for a hamburger today".
he said "next" tuesday
C-U-Next-Tuesday then?
Here's your money, you IMF scum...
https://www.youtube.com/watch?v=7GSXbgfKFWg
You can't default the undeafultable.
German finmin just said on the wires Greece will stay even if there is a no vote, and that they will tap the EU support fund to keep greece inside the euro.
ODIOUS DEBT, malakazz!
ELA can not under any circumstances become illegal - what function would ECB have then?...just print print print, the more debt and liquidity the better
Word has it Rothschild has ordered Mossad to take out Tsipiras and Vakifouris