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News Flash… There is No Greek Bailout Deal
Any editor, analyst or commentator who claims that a “Greek bailout deal has been reached” is lying.
Greece has NOT reached a bailout deal in any way shape or form. What DID happen was Greece’s Prime Minister agreed to try and push a new austerity program through Greece’s parliament.
IF he can do this, and IF the Greek government agrees to the austerity program then NEGOTIATIONS (not a deal) can begin as to whether or not Greece should receive another bailout.
Put simply, Greece has THREE DAYS to agree to an austerity program in which it will hand over assets worth 25% of its GDP to the EU… at which time TALKS (again not a deal) COULD begin regarding a potential third Greek Bailout.
Even if Greece DOES agree to this (good luck with that, given that 61% of Greek citizens voted AGAINST a deal that was not nearly as harsh a mere two weeks ago), Germany’s PARLIAMENT will have to provide a mandate granting Chancellor Angela Merkel the right to negotiate a new deal with Greece.
So… not only is there no deal, but both Greece AND Germany’s governments have to sign off before a new round of negotiations can EVEN BEGIN.
And even if Greece DOES agree to the new austerity program AND Germany’s parliament issues a mandate that Germany can negotiate a new deal… the two countries STILL have to negotiate a deal.
And finally… even if they are able to agree on a deal (unlikely given that they were barely able to agree on anything during the most recent round of negotiations), GERMANY’S PARLIAMENT has to sign off on it.
These are the facts… but the media has been promoting the claim that a deal has been reached. It has not. In fact, a deal is not even close to occurring in any way shape or form. At the earliest, negotiations for a new bailout might BEGIN in a few weeks. At that point negotiations are likely to take ANOTHER four weeks.
So even if all of the above issues are resolved, a deal will be reached in 6-8 weeks at the EARLIEST.
Again, anyone in the media who claims a deal has been reached is lying.
Stocks have rallied based on a lie... and if anything goes wrong in the numerous negotiations that have to occur in order for another Greek bailout to go through, the MARKETS WILL ABSOLUTELY TANK.
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"the MARKETS WILL ABSOLUTELY TANK"
LOL, anyone still holding their breath is dead and burried long ago.
This headline is contradictory to the leaked e-mail from several weeks back.
Hmmm….
"Only 25 left!"
But they can print more, and surely will.
Remind you of anything?
Frankly, I hope the Parliament refuses the deal. I think the process Greece endures in refloating the drachma and running an economy with no outside help will make for an informative study on socialism. But that isn't going to happen. The Greek Parliament will vote for this deal. They know they'll otherwise run out of other peoples' money.
This "Groundhog Day" is worse than Chinese water torture. Grexit and be done with it already!!
Yes, the art of the bad deal - good deal to ease more aisterity past the Greeks while quickly moving to seize anything of value the Greek people still retain. Reminds one of a Soprano episode were the crew takes over a sporting goods store because of unpaid gambling debt that was advanced to the point of "gotcha", just like the owners of the banks have done to the Greek people with the help of the bought off Greek politicians who knowingly accepted all the debt to the "gotcha" point. The chief actors may claim otherwise but when it is the Greek people that are left to pay off the interest on the interest we know the bosses have got theirs already and they are leaving the capos to clean the carcass to get theirs. The only one I've heard who ever beat the mob was Mussolini...he either put them in jail or shot them where they stood. He did however have a darker side no one enjoyed, and today the mob is all mainstream coordinating with the CIA....
I thought there were 28 countries involved at least.
Oh, don't worry! There is a deal. Tsipras already has enough votes to pass the slavery proposal. As far as the German Parliament is concerned, they will pass the deal as hard assets are being put up as collaterol and the Germans are not stupid. An exchange of worthless fiat paper for hard assets is a no brainer. Greece is screwed.
Welcome to the German Parthanon?
Whatever happened over thee is between Greece and Germany.
Does appear consensual as well.
Whatever any of us THINK about it...it is what it is.
The only connection between this and Wall Street is that this is a really bad deal for the Germans as well.
That's my personal view.
In that context can't think of a better Treasury Secretary now than Jamie Dimon ironically.
We'll see if Trump(already tm) starts upping his game here and rolling out some heavy financial and legal artillery.
Talk of the supposed deal provides cover for the FED when it is buying everything hand over fist to prop up the tribe's shitshow. The paper deluge in PMs needs a reason, too.
That is all.
Yeah i thought the same thing.. they have been negotiating for 5 years.. and now they agree to start negotiating ?
It does'nt matter if there wll be a deal or not - As long as Central bankers are buying-manipulating the stock markets all around the world will keep soaring
They know that if the markets start to collapse- the whole system will collapse
So you are right with all the facts- but unfortunately betting against them is suicide
You have to adopt and be clever
We have agreed to begin to think about starting the process of talking about ways to possibly come up with a deal.....
:)
"I'll take ClusterFuck for $500 Bob."
WAKE UP - it is NOT POSSIBLE to bail out the hyper-failed state greece, therefore ther can never be a "deal".
The EU leaders are trying to save the EU - greece is a suicide lost-cause.
The markets won't tank because there will always be headlines proclaiming hope of a new deal in the next week/two weeks/month.
That depends on how fast they can spin the propaganda. Remember the markets no longer rely on reality, but the perception of reality. The media has been creating this fairy tale, and no matter what, things can't and won't happen the way they want. The best way to start a stampede is to frighten the herd, and when Greece tanks, that will scare the hell out of them just in time for election season......
Narrator: [reading] I am Jack's colon.
Tyler Durden: I get cancer, I kill Jack.
Isn't it time we bombed the fuck out of Germany again?
"Isn't it time we bombed the fuck out of Germany again?" --Bindar Dundat
Yeah, we could be real heros again... like when we burned unknown tens of thousands of civilians alive during the firebombing of militarily-irrelevant Dresden. Granted, the Nazis were all but defeated already, and the Russians were on pace to secure Dresden within weeks anyway, but a great memory nonetheless. Tears of pride streak my cheeks at the thought of all those people screaming and melting. Hah!
I'm glad you have such a nostalgic nerve, Been There Done That. God surely blessed the USA and Great Britain for that one, so why not do it again? You're right. We could relive the good days while doubling down on God's good favor.
To be honest a deal has been made, it just isn't THE DEAL which is never going to happen.