This page has been archived and commenting is disabled.
Greek Bonds Tumble As Tsipras Threatens Snap Election
10 year Greek bond yields are spiking this morning (and prices therefore plunging) as trading actvity picks up in the dormant peripheral capital markets. The 2025s are downover 5pts from their last traded price back in late June with yields spiking back up toward 12.5%. This derisking comes after, as we detailed earlier, not only is the Greek economy collapsing but while Brussels is "satisfied with the smooth and constructive cooperation with the Greek authorities and that should allow us to progress as swiftly as possible," Greek PM Tsipras is threatening snap election as rebellion within 'his' party grows.
Volume and actvity picks up in GGBs and the price plunges...
* * *
Put simply, there seems to be a very real possibility that the Syriza rebellion will gather enough steam in the coming weeks to materially derail discussions. This is then a race - Tsipras needs to formalize the new program before Lafazanis (and perhaps Varoufakis) foment enough discontent to make a meaningful push to head off implementation.
And with that, we’ll close with the following sound bites from Kathimerini which sum up the situation quite nicely.
#Tsipras: we are carrying a bomb right now, let's deactivate it first, then talk #Greece
— Kathimerini English (@ekathimerini) July 29, 2015
#Tsipras says SYRIZA should hold party congress early September after agreement with lenders sealed in August #Greece
— Kathimerini English (@ekathimerini) July 29, 2015
#Tsipras: If I do not have parliamentary majority, I will have to call snap elections #Greece
— Kathimerini English (@ekathimerini) July 29, 2015
»
- 7922 reads
- Printer-friendly version
- Send to friend
- advertisements -
They had two elections already which didn't amount to dick. WTF?
This man is a communist, and by definition, incapable of solving any problems; he is engaging in what he excels at: rhetoric and threats. The Greeks are playing along with this clown, which is an indication of how mature that nation is.
Good.
You'r wrong. He is a democrat... which means the same thing.
Show me a nation which is more mature ...
China
Not this shit again
Hmm....Shouldn't the Greek 10year be priced at about 10,000%?
Translation: a little more bribe money will help me get this thing passed.
Tsipras rolled over like they all do. I pity that empty suit sans tie, I really do.
Another election...its over after that....Greece will be out
I took a Tsipras this morning
On Greg Hunter's YouTube channel, Paul Craig Roberts says New York Hedge Funds have bought up all Greek debt.
I thought democracy is finished in Greece, should have know better...let's welcome Golden Dawn and we will really see blood on the streets.
Sure, declare an election.
Just as effective as a referendum.