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Merkel Mocks Greece And The Referendum: There Is Money, But The Deal Is Much Harsher Now (And No Debt Haircut)
Another day came and went with no breakthrough in negotiations between Athens and Brussels as new Greek FinMin Euclid Tsakalotos reportedly showed up to Tuesday's Eurogroup with nothing to discuss.
With the ECB tightening the screws on Greek banks and the German finance ministry as well as German lawmakers tightening the screws on Angela Merkel, the Chancellor is drawing a hard line toward the Greeks in the face of calls for debt writedowns from the IMF, Greek PM Alexis Tsipras and the Greek people.
- MERKEL SAYS IF GREEK REFORM PROPOSALS ARE SATISFACTORY AND PRIOR ACTIONS TAKEN, SHORT-TERM FINANCE CAN BE PROVIDED: RTRS
- MERKEL SAYS SHORT-TERM GREEK FIX HINGES ON LONG-TERM PROPOSALS
- MERKEL SAYS GREECE NEEDS MULTI-YEAR PROGRAM
- MERKEL: GREEK PROPOSALS HAVE TO GO BEYOND WHAT BAILOUT INSTITUTIONS DEMANDED BEFORE REFERENDUM
- MERKEL SAYS GREECE WILL NEED STRONGER MEASURES TO PLUG FINANCING GAP BECAUSE OF ECONOMIC DETERIORATION
- MERKEL: EU TO DEAL WITH GREEK DEBT BURDEN AT END OF PROCESS
- MERKEL SAYS EURO LEADERS DIDN'T DISCUSS AID PACKAGE SIZE
- MERKEL SAYS SHE ISN'T 'ESPECIALLY OPTIMISTIC' ABOUT GREECE
- MERKEL RULES OUT DEBT 'HAIRCUT'
- MERKEL SAYS ECB BRIEFING SIGNALED GREECE NEEDS SUNDAY DECISION
More from Reuters:
German Chancellor Angela Merkel said on Tuesday she hoped to have sufficient reform proposals from Greece this week to be able to ask the German parliament to approve negotiations on a new long-term aid programme for Athens.
She said all 28 European Union leaders would meet next Sunday to discuss support for Greece provided Prime Minister Alexis Tsipras put forward detailed reform proposals along with a loan request by Thursday that were considered satisfactory.
If the reform list was adequate and Greece took some prior actions to enact first measures, Merkel said she was sure that short-term finance could be provided to help Athens over its immediate funding needs.
In other words, Merkel just told the Greeks yes, there is some money, but forget debt haircut, and the new deal is far harsher than what was on the table because the Greek economy is now imploding. Also, the deal will be 2-3 years at least to start, so even more austerity is on the table. So to all those who voted "Oxi", if you want your deposits unlocked well... tough.
The headlines keep coming hot and heavy, in which we find that Europe now thinks it is Greece's god:
- MALTA'S MUSCAT SAYS `SUNDAY IS JUDGMENT DAY'
As Bloomberg reports, "Sunday now looms as the climax of a five-year battle to contain Greece’s debts, potentially splintering a currency that was meant to be irreversible and throwing more than a half-century of economic and political integration into reverse. “We have a Grexit scenario prepared in detail,” European Commission President Jean-Claude Juncker said, using the shorthand for expulsion from the now 19-nation currency area.
And just so it is clear who is calling the shots, here is Juncker explaining:
- JUNCKER: LAST MOMENT FOR GREEK GOVT WILL BE MONDAY MORNING
What happens then?
"Our inability to find agreement may lead to the bankruptcy of Greece and the insolvency of its banking system,” European Union President Donald Tusk said. “If someone has any illusions that it will not be so, they are naive."
And just in case Greece decides to disobey, Europe is ready to treat Greece as an African nation:
- JUNCKER: EU COMMISSION HAS HUMANITARIAN PLAN FOR GREECE IF NEED
The only good news for Greece, which was just clearly reduced to a vassal nation state of Europe, is that Merkel did not demand Tsipras' head on a silver platter. Then again, if he does indeed fold, it may be the Greek people themselves who ask for it instead...
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Hmm..smells like political theater to me..all the way round. Meanwhile China's "insta-bubble" is imploding ..and taking a LOT of capital along for the ride...how can the Dow/"markets" shrug THAT off?
Expand balance sheet. Once you're at 4,500,000,000,000.00 dollars, why not go further?
Really. We've already gone full retard. Why stop now?
Get a clue here folks.
The reason the Germans ( and everyone else ) wants to Greeks
to pay up, is because the average German can NOT!
For all the smoke about fiscal correctness, the German state is merely
the best of a bad bunch. But the German population are in debt
at far higher rates than any other. By comparison the Greek people
are relative creditors... yeah you read that right...
Which bank robber answered to why he robs banks...
"cause thats where the money is"... I mean other than that
American dude from back in the 1920's...???
I read Willie Sutton's autobiography years ago and he was adamant that he did not in fact say that or any variation thereof. Some newspaperman made it up for a cute quote in his (fabricated) story.
He did specify that it was not possible to con an honest man.
Furthermore, he added that there was a specific class of people that was always the easiest to rope into a con:
Bankers.
Poor Greece is just a Template for other countries, and the one to get whacked as a deterrent for those Dominoes that really matter: Spain, Italy.
Greece is not a template, it's a one-off like Cyprus.
I thought Cyprus was teh tamplate. How quickly we forget.
Yep. Here comes the expected punishment for Greece. Wait until they finally had enough and pull the default trigger on all their debt and Deutche Bank et al with its (How many hundreds of trillions is it now?) derivatives implodes the fragile system. Seemed impossible a few months ago. Now I'd give it 40/60 against.
the "last chance" is every week???? it will be 2016 and they will be "last chanceing" it.
The last chance this week is on Sunday. The first chance next week is on Monday.
The ordinary people of Greece should make it their top priority to completely deny any mention of civil war, the nefarious ones will use the media to spread fear across europe. We too, here on ZH, will benefit from denying and being outwardly disgusted by any mention of violence, -they get more from us when we are in fear.
The game is played according to the rules. Therefore, it is time to give yourself a debt haircut and walk away. I wouldn't buddy up to close with Russia or China, either. Time to sort your own shit out domestically. Unless you are being lent gold, I wouldn't bother with OPF, or otherwise known as other peoples fiat.
#Dax still up 200+ AH
Tspiras has a mandate. Do not sign any deal that is bad for Greece. Ball in Troika court. Merkel is out of her league.
So, that's what the phone call to Barry was for, A man date.
Greece: Just drop the EURO and EXIT the EU already!
Merkel: "You look dirty and need a haircut. Here, why don't you step into my showers..."
Why does Greece keep allowing itself to be humiliated? Just say FUCK YOU!!! YOU CAN'T FIRE ME, I QUIT. WE DON'T HAVE TO WAIT UNITL MONDAY WE CAN DO IT NOW! See Greece, I did it for you so go ahead, now you know what to do.
Just copy, paste, and click send.
BECAUSE THEY WANT MORE MONEY YOU FREAKING IDIOT!
THIS ISN'T ABOUT DEBT RELIEF, THEY ALREADY HAVE THAT, THEY PAY NOTHING.
THEY WANT MORE. GET IT??? THEY WANT MORE MONEY, NOT TO BE ALLOWED NOT TO PAY, THEY ALREADY HAVE THAT.
I HOPE THE SHOUTING GETS THROUGH TO YOU BUT I DOUBT IT.
looks like they can agree on anything except the thing that matters - the debt write-off
Merkel is Hitler's daughter
This is starting to remind my of how my little brother punishes his kids. It goes like this: "I'm going to count to 10 and then your going to get it" After numerous counts to ten and idle threats...nothing ever happens and all parties get bored and wonder off.
Get on with it already!!!
What does a dog do when its in trouble? It goes and fucks itself so nobody attacks it.
July 20th will mark the beginning of a trew era
Greece may be screwed, but Germany is the only one left to fuck in the whole of the European Union. If we just put the screws to Germany by letting Greece fully exit, and make a deal with the Russian Federation, we will see the entirety of the European Union implode as soon as that happens. If Greece makes a deal to roll over their debts again, and stay within the EU, it will assist the EU fraud for just a tiny bit more time. For the sake of the World it is better to let this douchebag old whore Merkel eat cake instead of Greek lives, and futures.
NOTE: The Greek FM & PM should just get stinking polluted drunk for the next meetings with Merkel until one or the other barfs on her outright and the meetings are canceled.
aND once they repudiate the fraudulent loans they were saddled with, they can start up the welfare state again
Exactly, and they have Iceland as the prototype, so it really is a no brainer IMO.
Exactly, and they have Iceland as the prototype, so it really is a no brainer IMO.
' A man, who beyond the age of 26, finds himself travelling on a Bus can count himself a Failure.'
Maggie Thatcher
A country sitting down with the cabal discussing debt arrangements is a failure.
Headline: "It will be enough for Greece to buy a couple of shares of the [BRICS] bank to be eligible for funding..." >>> "Russia’s Deputy Finance Minister says Greece can easily receive financing from BRICS" http://tass.ru/en/world/806684
... Mr. Tsipras on the phone: "Hello Vlad ... I'm ready to buy a couple shares of BRICS" ...
Might invest in some myself ????
I guess that 215 point DAX bullshit stupid Germanite futures lead will be history by tomorrow 9am - like the rest of Germany's tumultuous history. You would have thought assholes learn their lesson but I guess they need to be rountinely wiped. God bless stupidity. How could I profit otherwise.
Merkel is just Atlanticist bitch, a whore of German banksters which are servants of Anglosphere.
Apparently German industrialist are not in the banksters' corner anymore... not keen on Anglo-Murican servitude anymore. Possibly DB's fate have something to do with that too.
I thought because of the referendum Greece had the strong negotiating position? Not much hope and change coming from Europe.
Let the can-kicking continue unabated. The only problem with this is, as the debt compounds, the can becomes less prone to being kicked at all. With each successful kick of the can one finds it doesn't travel nearly as far as the last time.
Standard Disclaimer: "buy the rumor, sell the news"
Your collective nations folks who make up the population are no where near as fucking stupid as you believe them to be.
Ask the BBC, they know. Their collective shortfall will give you lot a right laugh, look it up, dont take my word for it.
And for you mr merkel, you have no fucking idea, not a jot.
Ask my Grecian friends. They know, your collective populations have one thing they dont, numbers, millions, upon mother fucking pissed off millions.
We are coming son. But you already knew that, and fuck me.
There isnt a damn thing you can do to stop it. Its a fundamental of mathematics you see, outright, fucked off, sheer weight, of numbers. And as we all know, numbers dont lie.
We never did...
:-)
Time to sue the fourth reich for war reparations. The fourth reich knew that Greece didn't have the debt levels to be included in the EU. They allowed western investments banks to "restructure" their debt using swaps and other shell games. They failed in their duty purposely.
So who is bluffing? Who takes the Telly Savalas?
From the " Players with Yourself Club".
Hey Angie its not a Greek problem its a German bank problem. You think Greece is a problem wait until Portugal, Spain and Italy, followed by France tell you to feck off. You've been Goldman'ed.
Where's the QE for Greece? Print some Euros and give them a break.
Risible. Sure makes perfect sense. Continue kicking the can down the road w/ nothing improving getting further into debt & more manufactured crisis's etc. No doubt, an Event Horizon is being planned.
Risible. Sure makes perfect sense. Continue kicking the can down the road w/ nothing improving getting further into debt & more manufactured crisis's etc. No doubt, an Event Horizon is being planned.
Looks like neither side is budging. But neither leader wants to be the one to officially say "It's over." So they both keep talking as if some sort of a deal is still possible.
It is time for Greece to unilaterally solve its debt problem. Greece should give the Troika some IOUs that Greece never intends to repay. Next step is to let Russia and China set up military bases on Greek soil, in return for some immediate "loans" and much investment. The EU is no match for Russian and Chinese military. Obama does not have the balls to do anything about it. Putin gets a Mediterranean port along with his popcorn.
hence Obama on long distance phone duty
I think Merkel already got her response from Greece. That answer was "NO". When you file a BK, you are saying "I don't have the money to pay it. Otherwise, I would not have filed."
Greeks are filing shit. Sweet fuck all. They never filed taxes and they don't file BK. They're fucked up the ying yang and should be left to their own devices. Seriously, Greeks wondering if "NO" means they can't get more Euro cash from other taxpayers. How stupid are these people?
Paperwork is for losers.
Alexis Zorba: Hey boss, did you ever see a more splendiferous crash?
Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
Darth vager and her bankster maggot string pullers need to kick rocks
What is there even to discuss anymore? Not one red cent for Greeks. Cut off the gangrene already. Otherwise kill the patient Euro and move on with life. None of this makes sense and none of this is worth fighting for.
MOVE ON
Greek pensioners will be paid in euros for as long as possible.
Then in government issued emergency euros that won't be accepted outside of Greece.
Then in Drachma, again for as long as possible. Hyperinflation will eventually wipe out frozen pension funds.Unpayable debts won't actually be repaid. Unservicable debts won't be serviced. It isn't complicated.
Not exactly tradeable information, sorry. Just some basic common sense.
The rest of the west are in a similar position. Too few productive people to support their own needs and the needs of the retired. Regardless of how rich the retired tell us they are!
You can't vote away debt. It is kind of silly to think you can. Every one knows you have a mortgage, you take a vote about not paying it down, it is still there in the morning.
But please, not another ultimatum, these things start to bore me to death.
If she means this BS, they will all be sued at the CJEU.
Failing even that, hell will break loose in Greece and it will spread to Europe. Also expect Greek terrorist groups to fuck up European Capitals. The latter made two heists at around 350k EUR in the past few days adding to their considerable stockpile of cash and equipment, it's obvious they're preparing for the worst. Not for show. Guerilla terrorist groups here have killed CIA officials and won't hesitate to expand their death lists(not the only group). Couple that with the Jihad and they'll be in for a lot of fun.
Let me translate: "Proposals have to go beyond what bailout institutions demanded before referendum" = the beatings will continue until morale improves. Great. I understand that ideally the two sides would be able to work out an agreement with Greece remaining in the EU. The fact is without trust and mutual sacrifice it cannot happen. I don't think I would trust the Greeks at this point. So the most logical course is to Grexit in as quick and orderly a method as possible. Why are we still talking about this?
Merkel says "Greece needs a Sunday decision".
Someone quick, tell her Greece already had a Sunday decision, and it didn't go her way.
This situation will drag on for a few more days before the Troika understands the real problem. Tsipras cannot sign a feal that is not in the interest of Greeks period.
Silvio Berlusconi described Frau Merkel best:
"An un-fcukable lard-ass". (Almost as repulsive as Hildebeast)
And wtf is with the Mo Howard haircut on this broad?
Stop telling us what to do.... We do not like you.....
In the meanwhile, Greeks have started a petition to investigate Martin Schulz the president of the EP for scaremongering the Greek population into voting Yes. Schulz has a bloated ego who started his carreer are a bookseller.
Petition can be found here: https://secure.avaaz.org/en/petition/European_Parliament_Investigate_EP_...
Greeks will continue to slide towards becoming a failed state whist they keep going with this mentality to seek more foreign loans. Their economic woes come from foreign loans and they want more of the same! The concept of make and do things which create a trade surplus seems to totally escape them.
No sympathy from this corner whilst they continue down the dark path of foreign debt.
I haven't watched Max for a while, but this was good for a smirk or two.
Merkel just gave the Greeks another reason to say
Get Lost. F..k You.
We suffered during the last war because of your country and will never be under your yoke again.
War reparations are best served cold.
I think it's now time for Greece to open that new Russian Naval Port.
Yes, but then some western interests would see it as an overthrow and then move in quickly.
It's a mess.
Merkel's Fractured Fairytales...the Pied Piper of Deutsche Bank who can't stop the 70 trillion €urodollah insolvent wobbling monstrosity from turning SaudiMercan okkupied "Germany" into a Goldman Suck$ zone of toxic derivative Scheiss that will make Fukushima and Yakuza Nipponomic$ look mild by comparison and the SS Titanic seem like a pleasant cruise.
To paraphrase Kunstler... "pi$$ing in the wind is not the best idea for a nation of b€€r drinkers."
Onward thru the fog, Mutti...to der Iceberg
Hang on, didn't Obama just a couple hours ago call Merkel and tell her to allow a debt haircut? (3-4 stories down) And now she is lowering the boom on Greece again. She is not sticking to the approved script!
Who was the Greek idiot that claimed to be a "game theory" expert?
He and Tsipras just made their country another Zimbabwe.
What a mess pseudo-intellectuals make as leaders and advisors!
They're as dumb as Obama and his "gang of four" (Nuland, Rice, Jarrett, Power).
Yes, but who wants to vacation in Zimbabwe?
No matter how they structure this, where's the money coming from that nobody has?
helicopter drops
The money will have to be extracted from the Greek oligarchs who never pay their taxes.
I would love to see a brief description of the math/accounting of the Greek situation.
If the Greek debt is 380 billion USD and GDP is 238 billion (160 %) what is the target ?
For arguments sake lets say tomorrow morning the Greeks were to walk into the negotiations, throw up their hands, and say 'ok we give up - what is it you want us to do ?'- What would they hear ?
Arbeit macht frei
Maybe if the Greeks send the Spartans to the German border...
Watched Renzi, Merkel, Hollande, Tsipras press statements after the euro leaders meeting. Apart from variations in style and aesthetic, they all stayed on script.
But, given that it is unlikely that Greece will back down from the debt restructure bottom line and given that the US & IMF have publicly expressed the need for debt restructure, the EU leaders will have to come up with an agreement (and find a way to make it appear a good one) to kick the can - as long as Tsipras fills the correct request form that is.
PS: they hate the Greek troublemakers but mostly they hate being told what they have to do - by Obama of all people
Gee, after she got advice from his excellency Barry Obuttfuck, she still talks tough. Needs to get on board the peace train with choomboy the chimp
Last chance and final decision number 151 coming up
I have this useless brother in law, always unemployed, always drinking, gambling and whoring (and the rest of the time he wastes), and I've been lending him money for decades. he never pays it back. I have to lend him money if he wants to make a payment to me.
So I finally had enough, I said no more money until you start acting responsibly.
"Fuck you", he tells me, "the wife and kids and I voted not to accept your demand to make us your slaves, what a crock of shit. You have tons of money and we want more. Or else."
"Or else what" I ask?
"Well we'll embarass the whole family."
"Go ahead, I'm done with you, See ya."
"You can't do that! It's immoral! You never should have lent me money in the first place! It's all your fault! So lend me more, now, 'cause I only have $50 a day to live on"
"No."
"I'm going to ask Igor to lend me then, that will teach you!"
"Poor Igor'"
"well you're not getting rid of me this easily!"
"Oh fuck seriously? You're just not going to leave me alone?"
"No way, I'm going to stick around until you pay me to leave"
"I'll just wait 'til you starve to death asshole"
It works better if if you have a big family, you all could take turns giving the fuck-up some go away money so it isn't too much of a burden on any one. A smaller family or one with a bunch of fuck-ups is going to have a hard time. If the family consists of mainly fuck-ups the ones with their shit together are going to just have to disassociate themselves from the rest.
I am confused by the whole mess. The Greeks want out of the debt, but they want to stay in the Euro system. They don't intend to pay the debt, but they want to borrow some more in the meantime. This whole thing is wacky.
It is the "blame game"
You cant just exit eurozone like that, and they just cant kick you out.
Both want to put the blame to the other side
http://www.nytimes.com/2015/07/08/business/economy/germanys-debt-history...
Germans Forget Debt Relief History Lesson in Greece Crisis
JULY 7, 2015
.
"As negotiations between Greece and its creditors stumbled toward breakdown, culminating in a sound rejection on Sunday by Greek voters of the conditions demanded in exchange for a financial lifeline, a vintage photo resurfaced on the Internet.
It shows Hermann Josef Abs, head of the Federal Republic of Germany’s delegation in London on Feb. 27, 1953, signing the agreement that effectively cut the country’s debts to its foreign creditors in half." ....e.p.
To Merkel, "We're still NOT paying!!! "
One way or another, you'll pay!
This is what happens when second-rate con artists try to be slick.
Hey Merkel! See this? This is a Drachma. We can print these all day. So go fuck yourself!
Export those BMW's up your ass.
We're broke.
- the planet
The first lifeboat to leave the Euro Titanic will be Greece; but nobody is allowed on board; Captain's orders.
To be allowed to leave you have to pay an enormous sum. Captain Juncker takes his orders from ship's owner Frau Mutti. WHile the band plays on in Brussels and everybody pretends the white rock of Lehman's spill over never happened.
Hahaha, this beats the scenario of the movie.
This also beats the scenario of the 39 steps leading to WW2, with Tsipras as the handcuffed "useful idiot" and certified assassin of Greece, as a crazy marxist working for the "other side".
A collection of mad hatters trying to bring down democracy for a despotic paranoid totalitarian dream.
Luckily we have Mutti and "Nein, Nein, Nein" brings reality back to Aristotle's land under the benign humanitarian hand of the Troika. So goes the current run of the plot.
This is a Hitchcockian movie. Guess where the dead body lies and who is the real cuprit.
Awesome whodunnit. Coming to every theatre in Europe and soon accross the pond, once it has won the Golden Palm at the next Cannes film festival.
This is your last chance...until Monday when we tell you again, this is your last chance...
germany had 3 days to haircut greece debt. Tommorrow there will be a war on the market against germany.
Every once in a while someone in Iceland decides to put on his sneakers and sport jacket and walk over a glacier.
That someone can start walking in sunshine and calm weather with super weather forecast country wide.
But then the sun stops shining and rain starts to fall, then the wind picks up and the temperature drops, then the rain turns to wet snow, then the snow turns to a blizzard and visibility drops to zero.
At this point this person is dead.
The thing is, the larger glaciers have their own weather systems, so everything you think you know does not apply.
The EU project could be this person. The sun has stopped shining, the rain is starting to fall, the temperature is dropping an soon the wind will be picking up.
The financial experts, economists and such are in a environment where many unprecedented events have taken place and there is no knowledge to build any forecast on how those events will effect the larger economy.
The only thing that is certain is uncertainty.
In a environment like that things can go out of hand really fast and reach escape velocity before a bunch of technocrats or similar even realize what is going on.
Raise the piñata and shorten the stick.
Monday morning?????? WTF???
The troika will stall until the upomming riots have had a chance to take affect. This is a financial Leningrad.
Seems every generation or so Germany throws up a leader of evil and vile intent.
The Kaiser.
Hitler.
Merkel.
All tarred with the same loathsome teutonic lust for power and lust to dominate and control.
Time to end Frau Merkel's rule and Fourth Reich as we did the last two.
Any lamp post would do.
The Kaiser was a gentle Renaissance man. He reluctantly entered the Great War.
You know next to nothing about history. You are truly an ignorant person.
If i was a depositor in Spain looking at the situation in Greece i might be thinking to myself:
Im not going to vote Podemos now because i dont want to lose my savings. So thats ok.
But hang on is everyone thinking like me?
What if Podemos win?
Anyway thats not until December nothing to worry about.
But hang on is everyone thinking like me?
Maybe they're not. Maybe everyone is gonna clean their bank accounts tomorrow?
Thats ok because there is the ESM spporting the banks here and there's deposit insurance so there's nothing to worry about.
But hang on what if Grexit actually happens can Germany still be trusted to backstop the ECB and in turn backstop my bank?
Do they care that much about keeping us in the Eurozone to put all that money on the line?
And if they are not can i be sure that our government will have put aside to cover all Spanish deposits up to 85K?
Hang on! Thats way too many questions already. I cant sleep.
I think id better go to the bank first thing tomorrow...
As they say MONEY TALKS and BU****IT WALKS
(Perhaps someone would be kind enough to translate this into Spanish, Portuguese, and Italian and of course German)
Oh, no! Not another Monday morning deadline!
I want to hear moar about the nasty business with GS alum, Mario Draghi, being the one who cooked the books to get Greece into the EURO when they didn't qualify legitimately. He and Merkel are now holding a gun to their heads for the mess he created.
Merkel should be sending the SS after Draghi for lying and getting Germany in this mess in the first place.
I liked the one about accounting on the deducting the reparations from Germany wait wait we are IMF world Bank wait wait We are Weimar
Nerer mind "Sweet Caroline"
Another last moment? I am shocked they once again kicked the can for another trade....I mean week.
I gave this item a "1", not because I disagreed with the information contained therein, but because of the attitude of the author. Nowhere in the piece is there any evidence to support the headline that Merkel mocks Greece or its referendum. In a show of national chauvinism, the Greek people, egged on by their elected leadership, has refused to pay its debts to European institutions. It will now have to use its own money and raise the taxes needed to meet government commitments. These commitments will have to shrink drastically as Greeks embark upon an austerity far more severe than any they would face if they stayed in the euro.
I agree, north by northwest. This journalism is ass. The headline screams emotional motiviations in a highly complex scenario involing professional liars, and the author provides no evidence at all to substantiate the claim of discovering something.
There is a werid paradox with the interwebs: research got incredibly easy, it suddenly became very, very easy to find out details and background to any story. So, of course, "journalists" decided to run with that and now don't do any research at all. they hack together details from other bloggers, and pass of the loose assortment of gossip as their grand insight.
Verdamnt bloggers. Pull up your pants and do your jobs.
As for the post to which this is made in reply, what a load of horse feathers! It's worse than the article.
There is no REAL debt. It's ALL funny-money.
It's an accounting trick, blue-smoke & mirrors - requiring magical thinking and a suspension of disbelief that a few keybaord strokes in Frankfurt translates into real wealth.
It's all a ruse - a Grand Opera of Sturm Und Drang Illusion - to steal Greece's real assets and line the pockets of the "Usual Suspects".
The growing realisation that we've all been played for fools, is the Existential Crisis facing Vampire-Squid/Vulture "Capitalism".
Don't they have enough, the greeks?
Exit the Euro and start your own life, for all the Gods of Mount Opympus!
The Germans are either really good or really shit in showing the poker face.
Whichever, their most interesting characteristic is playing poker in burning houses that are falling down on top of them.
Who does that?
Throughout this whole mess, the Europeans have been keeping on with the fanatsy that you can talk the economy into action. So long as you say the right things, in the right tones, everything will be fine. Nevermind going to work and applying technology and listenting to custmer needs. No, just talk a good talk, and everything will be OK.
And so we get the poker game. Two idiots betting someone else's chips in a poker game where both sides are bluffing, and meanwhile the house is burning down around them, and they are asking each other if it is "Hot enough for ya?"
It must be fun cowtowing to swinging dickheads like Muscat and Tusk...
She and Germany have switched the side and want to ...
The biggest cost for Germany is the potential destruction of the Deutsche Bank. The bank may end up into bakruptcy anyhow during the dismantling of the Casino where DB's exposure is larger than the combined global GDP!
https://www.youtube.com/watch?v=QkWS9PiXekE
Lots of words today, and ducking out. Looked like a comedy..really.
The Guardian had so many stops and starts today it looked like Greeks were the Marx Brothers or something.
Amazing times, but when does everone 'wake up'.
Comedy is all I saw today.
http://www.theguardian.com/world/live/2015/jul/07/greek-debt-crisis-alex...
Italy needs a Greek deal, so Italy can make out too...the young Italian leadership looks a bit tense.
Fuck the Nazis. You dont give an addict drugs.
Screw her.
I hope more people begin to realize that the ECB holds no cards at all. The Greeks need to follow through with their total FU to the ECB and use the nuclear option - default and exit. The pain will be bad, but they'll recover versus a long, slow death as a debt slave for decades, constantly borrowing more money just to service the debt they already have, thereby going deeper and deeper into debt.
Make the Greeks 'pay to play.' Make the first payment and then allow talks.
The Financial illusion of "one for all and all for one" that the EU Central Bank and Draghi are selling is just that, - an illusion.
There is no EU Central Bank - just Merkel and what Germany wants. Suck it up Europeans. 1945 was a long time ago. Germany for the Germans and Europeans for Germany as well.
THis uis sooooo like Bugs Bunny and Yosemite Saml.
"I dares ya to step over this line"
"I'm a steppin' ya hornswaggled horny toad"
"I dares ya to step over this line"
"I'm steppin'"
"This line"
etc.... followed by a tortuous path across the badlands and up a bluff to where finally Yosemite steps over the line and falls. But it's a long long long route to get to that point.
Monday morning?????? WTF???
First, tonight.
Then, tomorrow,
Then Thursday.
Then Friday (8:30AM for the deal?)
Then Saturday before Sunday.
Then Sunday....now Monday !
Lots of holidays ! They are waiting for riots and starvation, then UN/NATO will probably be invited to police the country. Sad way, then some new bankruptcy laws like for Detroit or PR.
Mockery and scorn for serfs from oligarch puppets:
“I do not understand Greek referendum circus”, says Juncker.
"Jean-Claude Juncker has ridiculed the Greek ‘no’ vote as an unintelligible “circus“, as he sought to backtrack on previous threats that it means ejection from the Euro and Europe. The president of the European Commission said the question posed to the Greek people was “irrelevant” and he would now try his upmost to “understand” what voters were trying to say."
http://europeanpost.co/i-do-not-understand-greek-referendum-circus-says-...
It's very unfortunate that Greece is the Poster Boy for rebelling against Austerity, because their problems are very different to Italy, Spain, Ireland or Portugal. In a way, it suits TPTB to have Greece be the rebel, because even those of us who support the rebellion know that this isn't the rebellion that we're looking for.
In the 1990's I lived and worked contemperaneously in Greece and Germany. I don't think I have a special insight that I wouldn't have gotten from this website, but I would reduce it to Productivity. It doesn't matter how many hours you're in the office if you're not working.
The peculiar thing is that the Greeks wanted to hang around in the office, not actually doing anything, whereas the Germans wanted to go home.
Yet at the same time, there were so many "Greeks" who had moved back from London, USA and Australia for the lifestyle, home and hearth. yet all they did was hang around the office talking nonsense, Greek drama, no productivity.
Why don't the Greeks want to be at home.
Anyway, I look forward to Bulgaria joining the Euro, that'll be amusing!
If the Germans don't wake up tomorrow and hang Mutti and the Eurocrats for pissing their money away on non-repayable debt, then they are...
The Biggest Losers.
You'll be paying off that crap EBC paper for the next 50 years too.
At least the Greeks got to spend some of the money you provided, so in reality, German taxpayers are the ones who are getting Greeked.
It will be interesting to see how the Italians and Spaniards react if Merkel and company seize all deposits and force other controls. If it is seen as forcing the Greeks to live the "German" way, it will get very interesting very quickly.
It will be interesting to see how they react, but we can't predict that. What is really intersting is how obvious it is how Merkel expects them to react.
I think one thing is clear, she has no idea what she's risking.
We should always remember Tip O'Neill; "all politics is local".
If the Italians and Spaniards decide to stop paying, the debt jubilee is at hand.
It may then be prudent to sign contracts on real estate.
This is getting serious - Merkel now calling up army reserves:
http://www.bbc.co.uk/news/blogs-news-from-elsewhere-33381772
only a idiot does not see that frau merkel is finished the germans know there will be no debt repayment and the german industry is nearly on its knees from the russian sanctions inposed by the usa and merkel is one of the american stooges never was a true german, a fucking east socialist load on top of that the french far right has opend the french people eyes to the crap being foistered on them and the rest of europe soon will join in sending her to hell.
In reality, if Frau Merkel called an election tomorrow, she would get an outright majority.
I don't think Germany is on it's knees, perhaps unfortunately, I think another country beginning with G is on it's knees.
I'm amused that you think Marie Le Pen is the solution. I think the solution is a bit of Navel Gazing, and the restrained approach of Euclid Tsakalotos.
We're now in the practical position of having to deal with real people who are suffering. Greek drama is not the answer.
Miki, why do the Greeks want to stay in their offices, not producing anything, for hours after the Germans have gone home to their wives and children?
Russia/China:
Excellent places for militay bases.
USA takes Cuba.
Russia takes Greece.
The chess game continues...
When in God's name are the Greeks just going to tell Merkel, the ECB, the IMF, and whomever else they owe to get f#&*ed, you're getting NOTHING? Good God, put an end to this bullshit!!!
Greece runs out of all their money in a week or two. Then they cut the locks on everything else. LOL
Carpetbagg’in, bitchez!
Sounds like my mother when I told her I was dropping out of law school.
Like two people with hand grenades in their hands
threatening each other.
Tsipras, “I’m pregnant!”
All day it was comedy...between Tsipras, Renzi, Tsakalotos...they were all mucking it up and getting giggles all day.
Renzi is talking his own book the most to get his own deal fixed before things get really bad.
Probably some UN/NATO arrangement to tide over the situation for 5 years or something, like Kosovo or soon PR.
Hate to say it, but this has Yellen/Fed/ U.S. taxpayer written all over it.
To get a deal with debt relief, all Tsipras needs to do is just gut it up, close his eyes, and service the old angry horny Frau.
And for all you dudes on this thread ragging on the lonely old Frau, cut her some slack. Afterall, it's been at least a couple of decades since she's had any action other than a few times with her Grandad's Prussian spike helmut.
Breaking News: Troika shootout erupts in Brussels.
Carnage "for a few dollars more".
https://www.youtube.com/watch?v=Q-ptpERFVeY
Fer fucks sake....are there any adults running anything out there anymore?
Should have gone Galt couple years ago already
***WARNING: EURO ZONE IMPLOSION IMMINENT***
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***ESCAPE TO MINIMUM SAFE DISTANCE***
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The Troika and the Greeks have determined that the debt is unrepayable and yet neither want to admit to this state of circumstance. The E.U. says the debt and compounding interest must be paid in full while the Greeks say a haur cut is in order because the debt is odious. If the Greeks can admit their debt is insurmountable and that they will get no relief from the E.U./Germany then the Greeks need to be the adults realizing this is the case and the only option is to default derivatives be damned as the collapse is going to happen anyway sooner or later.
Why does Bagdad Bob with his moving "Line of Death" come to mind?
Frankly my dear, I don't give a fuck.
Sentences we didn't finish...... "For Now".
The Hoe morality :-
'I care shit about human life,
get disease, die, I dont care,
All I want is your money"