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Eurogroup Press Conference In Progress
Update 3: Conference begins now
Update 2: At this point the conference, if at all, will be held at 3:30 am CET. Probably would be better to just scrap it all, put a fork in Greece and go home. The second the 10 page Greek "sustainability" report hits the public it's lights out.
Update: 23:00 CET has come and gone. Next stop: midnight. As a reminder, the October 2011 official second Greek bailout announcement was delayed until 4 am.
According to a just released update on the website of the European Council, the much anticipated press conference "to end all press conferences" will take place at 23:00 CET, or 5 pm Eastern. What will then likely happen is another delay until midnight, then later, then finally when Europe is sleeping a few finance ministers will say that the Deal is virtually done, the terms of the PSI are agreed upon (except that "some" creditors, those who have a blocking stake, will vote no and force the use of CACs and thus trigger a default before March 20) with the exception of a few minor outstanding items, such as whose debt is cut to bring total Debt/GDP to 120% by 2020, which they hope to get resolved shortly. And so this latest and greatest meeting will come and go, and anyone who shorted the Belgian caterers will be broke when the market opens up tomorrow, when Belgian catering ETFs all go limit up.
Watch it live, or dead, or zombie, or however the mood suits, at the following webcast.
And the full statement:
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Every now and then it's only a month and a half.
...and on rare occasions, it's three fortnights.
Rest assured, if there is in fact a deal, more money will be spent, requiring a newer deal.
Generalissimo Franco took a very long time to die.
News Flash: Generalissimo Franco is still dead!
Yes, we Belgians have good caterings. expensive but good.
Do we have to look for craigslist or do you take care?
Belgians? Ask Farage about Belgians, it's hilarious
http://www.youtube.com/watch?v=F3e6IWsJA9U&feature=youtube_gdata_player
how tall are you, sodden_d?
if you were a caterer could you pee in the damned soup tureen w/out standing on a chair, or not?
and please don't tell us you sit down to pee, ok?
He can't be too tall, he's all torso...
You got me thinking Hulk and that is a bad thing. Is he a giant waffle with teeth? There are more questions I could ask, but I have already been bad enough up thread.
You have been very bad MsCreant and deserve a good spanking !!!
(and as best I can tell, Sudden Debts avatar is actually him!)
I am sure you are green and I wouldn't want to make you angry. And I really do have a gun and am sometimes blonde, so yeah, I take notice of a raging waffle with teeth. Two words to spoil your supper: Oral sex.
Sex actually makes me hungry. You wouldn't like me when I am hungry...
unintended consequences....... direct democracy is the only way....
http://samplocracy.wordpress.com/
They are schizophrenic and changing their minds from hour to hour. It's rather an agony than a deal.
What are you talking about? "They" aren't changing minds, but playing con-games while their masters direct history to the desired, predetermined outcome.
This is nothing more than the strong hands once again shaking out the weak, all while destroying the whole system (which is unavoidable, as it's unsustainable).
We have the final deal all worked out, uh really! Yea, in fact we were just getting ready to sign it when.... uh..... the pen ran out of ink! Yea, that's it. The pen ran outa ink, and....uh...we're all gonna sign it when we can find a pen that works. Sooo, we'll get back to ya later. Yea. DEFIANTLY later.
this only means one thing down stream : Eurozone has to converge fiscally; Germany is now hooked, lined and sinkered to Euroboat, with or without peripherals down the road. By sending this message to alles, Germany says all for one one for all.
Now it'll be row, row, row, like hell ...Remember ONe bridge too far...that's the script now : Operation Market Garden. Hope they make it across the Rhine.
Meanwhile, Athens will burn is dire survivalista of austerity program which will be Europe's breakfast menu for five-ten years!
The Troika to install an administration that functions in Grechen, where corruption is the second name of every Oligarch.
Good luck Ober-hauptmann Troika-Fuhrer.
No drinking game for this one tyler?
let's do something in red and green!
start with 1/2 coffeepot creme de menthe
add 1/2 coffeepot grenadine
take a sip
then do 5 tequila shooters and a bassAle
rinse, repeat
EUR / USD 1.3244 1.3246 1.3244 0.0001 0.0100 1.3246 1.3172 17:00:13first time I have ever heard of booze metered out in coffeepots
A chicken in every coffeepot, I says !!!
Where is Bob Piss-on-me when you need his happy..its all settled banter....
They will all be babbling in the morning "better than expected..."
Jesus, I am so excited....
Some dumb banking bastard is going to finally lose his seat in this seeminly perpetual musical chair charade.
Luckily for them, those parachutes are golden.
And remember folks...this is just Greece......lol.....there are bigger fish in this pond that stink as much if not more than little ole Greece....lol...and who are the idiots buying these bonds...anywhere right now....gold vs bonds.....you have to be kidding me....
Why, that would be you and I, via proxy, of course.
Maybe Ireland, Spain, Portugal, and Greece are giving the finger to the banksters for illegal loans, and default.
Lots of banksters resigning over the past 3 days...nine so far...
Well the ECB showed its lack of balls when it cut in the front of the line with their swap.....survival is now number one in this game...that is if you are still on the field...and its going to get dirty....
I'd say that was a very ballsy move, as it made clear who the survivors won't be. Like say, treasury depts. in most European nations.
As always, this is just a staged drama to create the fiscal union they could never obtain by the ballot box.
My guess,
We have agreed to make a deal. Details to follow.................................
5 minutes to Wapner.
nothing can start on time with Europeans can it?!
late again...
Goddamn Silverlight. I'll be waiting for a summary...
Edit: here's a different link http://ec.europa.eu/avservices/ebs/live.cfm?page=2
Hansel - Thank you for the link. I could not bring myself to click on Microsoft's Silverlight.
Has it started, I have a blue screen?
So the EU is gonna run with this eye of Horus symbol now?
Kinda reminds me of ol' Hal 9000, too.
boooooooooooo
I want my money back, I want my money back !!
Fuckin' worthless eurotrash, I guess it's tough to be punctual when you are saving the world (or taking one last hit in the ass).
Bunch of amateurs
It appears that all the rats are being cleaned out of the banks. One wonders if it is to escape angry citizens or because they are being ferried off to some underground bunker? Add to this list Germany's President. .. Netanyahu's Bureau chief - Natan Eschel ..... Las Vegas State Senator Elizabeth Halseth ... and more.
Susoni
Romanian prime minister and cabinet resign en masse
http://www.guardian.co.uk/world/2012/feb/06/romania-pm-cabinet-resign
Global bank resignations
Resignations Global Banks ....
1 World Bank CEO Zoellick resigns
http://business.time.com/2012/02/15/...llick-resigns/
2 Anz Bank CFO Australia resigns
http://www.proformative.com/news/147...s-amid-turmoil
3 Nicaraqua Central Bank Pres Rosales resigns
http://www.bloomberg.com/news/2012-0...-amid-row.html
4 Credit Suisse Chief Joseph Tan resigns
http://www.businessweek.com/news/201...n-resigns.html
5 GERMAN PRESIDENT Christian Ruff resigns
http://www.dailymail.co.uk/news/arti...ed-resign.html
6 Royal Bank of Scotland Austrailin CEO Stephen Williams resigns
http://www.theaustralian.com.au/busi...-1226272513981
7 Kuwait Central Bank CEO resigns
http://www.washingtonpost.com/busine...OAR_story.html
8 Slovenia TWO largest Banks CEO's (2) resign
http://www.bloomberg.com/news/2012-0...s-resigns.html
9 Bank of India CEO Chaturvedi resigns
http://www.livemint.com/2012/02/0616...itabh-Cha.html
10 Tamilnad Mercantile Bank CEO resigns
http://www.business-standard.com/ind...resigns/464259
11 GOLDMAN SACHS CEO Blankenfein to resign (Nothing printed on this yet UNLESS this JUST happened. Last article said he is not stepping down in 2011).
http://www.huffingtonpost.com/2011/0..._n_858647.html
http://www.washingtonpost.com/busine...OAR_story.html
12.
N.C. banking official resigns
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=13&ved=0CDgQFjACOAo&url=http%3A%2F%2Fwww.newsobserver.com%2F2012%2F02%2F15%2F1855967%2Fnc-banking-official-resigns.html&ei=6HxCT8bUJNLy2gWwz6GSCA&usg=AFQjCNGleDoGYbSQrE_4mggScv3D9yxQ-w
13. Switzerland's central bank chief resigns
http://www.aljazeera.com/news/europe/2012/01/201219145612935171.html
***********************
Spot checking shows me that there are many links which don't work and for the ones that do the stories are for the most part dated.
Can someone explain to me where this "Belgian Caterers" thing started?
Apparently Belgium has no government, but they can host a seemingly unending series of EU meetings to discuss the perpetually impending bailout of Greece; much to the benefit of local caterers who must provide the haute cuisine to the effite Euro-trash while Grecian citizens are forced to rummage through dumpsters for sustenance...
PS - Yes. Exactement! And digging deep into ancient history here's more foundation for the Belgium reputation: "The Belgian Waffle was introduced to the US at the 1964 New York World’s Fair by Maurice Vermersch and his wife. He was in the Belgian Village selling his wonderful waffles."
http://paulaandchlo.blogspot.com/2012/01/1964-worlds-fair-belgian-waffle...
MS-Silverlight?
this f* incompetents have to be joking!
never heard of webm? mp4? even the flash crap.
pissed me off too.
"...... and anyone who shorted the Belgian caterers will be broke when the market opens up tomorrow, when Belgian catering ETFs all go limit up."
Gotta say I love your humour TD, and ZH humour in general.
Does STARTING TIME SUBJECT TO CHANGE mean they started earlier than 5 pm?
Hahahahahahahahaha-"start early"-hahahahahahahaha-no-hahahahahaha
Brüssel - Noch verhandeln die Euro-Finanzminister in Brüssel über die Zukunft Griechenlands. Unklar ist, ob sie den Kredit von 130 Milliarden Euro abnicken werden. Am Rande des Treffens zog sich die Delegation aus Athen zu Gesprächen mit den Banken und den internationalen Geldgebern zurück. Ziel war es, über einen größeren Verzicht der Banken und Fonds zu verhandeln. Das berichten die Nachrichtenagenturen dapd und AFP übereinstimmend aus Teilnehmerkreisen.
Die Privatgläubiger sollen demnach zusätzlich zum Schuldenerlass auf 5,5 Milliarden Euro an ausstehenden Zinsen verzichten, damit die griechische Schuldentragfähigkeit gesichert werden kann. An den Verhandlungen nahmen neben Griechenlands Premier Loukas Papademos und Finanzminister Evangelos Venizelos auch Deutsche-Bank-Chef Josef Ackermann für den Privatsektor und Jörg Asmussen aus dem Direktorium der Europäischen Zentralbank (EZB) teil.
as Der Spiegel is reporting right now. To summarize it: Besides granting them another donation of €13E10 they want to stop paying outstanding interest of about €5.5E9. It will take a bit longer to convince the lenders of the greatness of this idea. 4 am seems like a good first guess.
How u say popcorn in European?? XD
Popcorn, capital "P".
HAHAHAHA
TO FUCKING FUNNY!
Expect an announcement, then a correction, then a denial.
But they promised to pinkie-swear this time...
The announcement will be a denial that there was a claim that there would be an announcement
They are waiting for Greenspan to arrive..he will be the announcer of the "deal" because when he speaks no one will know what the hell he is saying but it all sounds so intelligent..... and worldly.......and wordy......then they can rush back to their posh hotel suites and get ready for tomorrows meeting because eveyone knows its Tuesday..and Tuesday is Chilean Sea bass with a Filet Mignon.....and if they can stall one more day..Wednesday is always French Cusine....with deep fried parakeet and escargos.......it makes my Chardonay turn to a hard Port.....vive la France...vive la meetings....just fucking vive...
You mention Greenspan. I was just thinking Madoff. He's got some free time on his hands and has some skills that might prove helpful.
Show some compassion, Schauble needs another night stay to get gold status at Le Plaza hotel.
Tick Tock. Tick Tock.
Why they even have a meeting? So fake!
Don't fight the system, infect the system. That is what the elite do.
Strangers in the night, exhanging repo's, Wond'ring in the night, what were the chances, We'd be sharing grease, before the night was through
Something in the yield, was so inviting, Something left to steal, was so exciting, Something in my heart, told me it might be true
Strangers in the night, such lonely leaders we were strangers in the night, Up to the moment when we bought the REO, little did we know, CDS was just France away, a warm crap in the pants away, and
Ever since that night, it's been declining, crooks are bound so tight, and bound forever, it turned out so right making choices in the night
merky perky poo, sarkozy gooey, draghi ing in doo doo, do doggie schnauble, it turned out so right, raping europe in the night.
<--- This is my surprised face. :-P
Most porn websites always force me to use Silverlight. Thank god for porn.
I'm sure the Greek people will be soooo happy to know they have been saved!
The Troika look physically sick. They look like a bunch of f*cking zombies living in zombie land.
Ironic how the animation of that creepy EC logo starts losing stars. I think the first one that disappears is Greece.
While I'll never underestimate policy makers' and stock market participants' propensity to extend fantasy ad infinitum (I was a U.S. based buy side analyst at a large european bank covering telecom and telecommunications equipment stock during the bubble). I sort of feel it. I think the finmins are going to cut Greece loose assuming, of course, that they have finally got a better handle on the numbers - which we all know have gotten worse with more and more discovery.
I thought the signing was pretty much just a formality today. It seems to me the longer this gets stretched out, the less likely it's a done deal. I'd love to see the Greeks take their ball, tell the kids to go screw themselves, and go home.
There is one, no two people in the seats. We are getting close!!
I hope one of them is Nigel Farrage lol
Noz
What about Jon Corzine?
"12:15am Tuesday (CET) - Time in Paris, France"
Cansomeone knok the door? Where are the waitresses?
'the much anticipated press conference "to end all press conferences"'
Wait - this wouldn't be the mother of all press conferences, would it?
EUR/USD dropped several pips and a longstocking...
eur is tanking right now, i hope they just hold that shit for 1-2 more hour
Gold, silver and oil are trading with less volatility than normal for a tuesday morning. There must have been a leak about the Greek deal and it must be very lame.
GOLD IS DOWN $1.70 RIGHT NOW
I see f*kking nothing. Is it because I have a mac?
No, it's because all of the technocrats are still with their concubines back at the hotel.
hahahahahahahahahahaahahahaah...oh that is so good. Can't make this stuff up!
This has nothing to do with anything, but I am going to say it anyway.
Today, my Westie, Sasha (Alexander), died in my arms. He was only eight years old.
As I am too much of a degenerate to have kids, Sasha was one of my children.
He leaves Angus, another Westie, behind.
Sashins (it's a Latvian nickname) was the best dog a man could ever have and I will miss him for the rest of my life.
Love to all.
...but we must break the Brussels Politburo regardless.
Eric
having lost many dogs over the years, one at two years old, I have great sympathy for your loss. The only advice I can give is to try to remember Sasha during the fun times not the end. Those are the memroies you want to hold on to.
Thanks mate...
Shit's crazy. It's like my house is empty all of a sudden...
Again, thanks.
Forward, life!
Delays, delays. Give them more time to build up their futures positions.
The way the market has been they could say 70% of European banks may default as a result of the deal, and the media would report it as "30% of banks unaffeted by Greek debt deal" and the market would rally,
so true. nothing but "hopes and dreams"
"30% of banks unaffected by Greek debt deal" would be a lot better than I'm expecting.
Be interesting to see how they spin that a forced 50% haircut on a bond is not a default. Hey, this is crazy, but are we sure that Dick Cheney is not involved in this mess somehow?!?!?
They seem to have just pulled the plug on the webcast. What a surprise. Let's all go and get drunk, us, not them :O)
01:22 here in Sweden, no pressconference...
Like clockwork
The ratings angencies are gonna have a field day recalculating everything EU.
"2:10am Tuesday (CET) - Time in Paris, France"
If that was that easy, they should have signed the ph ucking deal by then. It looks like something is fishy.
If that was that easy, they should have signed the ph ucking deal by then. It looks like something is fishy.
geee ya think... THERE IS NO DEAL!
I, for one, wont be satisfied until I see the German Panzer divisions rolling across the plains of Europe.
Rolling?
HAH! These Leopards dont roll they dart from spot to spot. Get your head up and look out side the beer garden for once dumbkopt.
Blitzkrieg! Remember this time that Athens is an open city and Uncle Sam has your gold.
Just get it done and over with.
These deaths by a thousand cuts are cruel.
Just pull the damn Plug already and be done with it.
Iceland got tossed well enough didn't they?
All this shit about Greece. PHOOEY.
I do know this.
This night time sneaking about while everyone sleeps is bullshit. THey don't have the balls to stand in the light and say "He's dead Jim"
Goddamn.
There was no way Merkel was EVER going to give Grecians any more money! Sparty On!
well, we are still trying hard to find someone willing to get that 100% private Haircut
but so far all we got are fat bald Bankers running off like headless Chicken Souvlaki !
(IMF = I am Fucked, thanks to Tim Geitner)
wr;)
Stop the Second Bailout Package!
EU Should Admit Greece is Bankrupt
http://www.spiegel.de/international/europe/0,1518,816498,00.html
Rescue the printing press, or the corporations will no longer benefit from free slave labor from the Greek citizens and the Bankers will actually have to get jobs like the rest of us
As we all know, only good news is announced at 3:30 in the morning.
Yep... The Good News meaning they are letting Greece go!
Don't plan on watching this video. The EU Seeing Eye Emblem speaks in volumes. The cunts are indeed on the last stages of a fight or flight mode. The conditioned media news articles featured lately have a strong scent of communism desperation breakdown. Just my observation!
The Kuntz will be defeated without a shot fired.
The Bureaucratic Union of Europe will announce Deal #100 made by Greece. Many more can-kickings to come. Stay tuned for further announcements and more Greece bailouts. A new television series Days of Our Bailout Annoucements, which is expected to continue for multiple seasons.
The Asian markets are remarkably sanguine over all of this.
Germany-drawing-up-plans-for-Greece-to-leave-the-euro
http://www.telegraph.co.uk/finance/financialcrisis/9091021/Germany-drawi...
I came to watch the 5:00 pm press conference there wasn't one so I went to bed for a few hours and I see I haven't missed a beat! Efficiency Euro style siesta and all!!!
Those cunts are jerkin us off.
The days of living under the Horus monetary system is over.
The Eye of Horus
I am so sick of the illuminati bullshit. They shove it in our face in all the logos, in music, movies, awards shows, even the superbowl.
I am sick of your manipulation of the masses.
I am not your slave you elitist oligarch luciferian worshiping scum.
Illuminati is a coded word, don't get hung up on it. Begin to see beyond the forest.
WTF? Lets do this already. I'm running out of Milwaukee's Best!
Up to bat... Mad dog 20/20!
chase it with some percs but stay away from the xanax
They will never let it be called a default even if its a 99% haircut.
Those swaps get triggered and "boom goes the dynamite."
More can kicking to come.
Or it may be time for the BOOM and they know it!!! I've always said they'll kick the can until there ready for it to explode. Looks like the end of the road, my friend!
Nobody actually thinks $1,500 trillion CDS will ever pay off It's just fake insurance to make a balance sheet look good.
A buys CDS on its crap junk paper from B.
B buys CDS on its crap junk paper from A.
Both balance sheets look good now, premiums net to zero, and both get higher year end bonus for selling more CDS.
If A or B defaults it's viewed as a "voluntary writedown" or "voluntary bankruptcy", no credit event, nobody pays off.
CDS was never meant to pay off, just make balance sheets full of worthless crap look good ...and make year end bonuses higher.
Of course it violates every insurance law on the books, but law on the books doesn't seem to matter anymore.
It's 3:30 in Europe. And now?
Now we dance.
It is currently 0331 CET and no announcement.
Nothing to see here, move along.
http://www.youtube.com/watch?v=rSjK2Oqrgic
it's 5:30, 7:30, 9:30, 11:30, ... until hopium is completely sold out.
... and in meantime a replay of the last summit:
http://www.youtube.com/watch?v=8kM_MDYfDi8
Hahahahaha. Nice.
Whatever is going on in Greece they are using the correct "code" words in the news leaks because US futures are pumped. And since the stock market IS the economy and the market is going to the moon that means everything is doing great which substantiates much higher gas prices. LMAO. The circus continues.
They are calling their brokers from the war room like crazy.
It's 0440 GMT+2 in Greece. 1940 here in MT. So what's going on. Still circle jerkin over there?
when you play that video link, the stars on the top and the top crescent disappear. the shape turns, leaving a sideways crescent and a star. just like the islam crescent moon. i'm not making this up !
Check ZH twitter feed. It's hilarious. "4.42 in Transylvanya".
I think I get it, but correct me if I'm incorrect. Didn't DRAKULA live in Transylvania, Romania?
Breaking hot off the Press: Greece is out, Lichtenstein is IN!!
I'll bet the insiders at Goldman have already been twitted the news.
Goldman has been twitted and twits have been Goldmaned
Are they still fighting and arguing over who is coming out to tell the world that the banking system is fucked and all the paper money is now worthless? I mean nobody would be jumping up to volunteer for that job would they?
I bet Schaeuble would love to. Well, if he.......... ahem.......you know.
HFTs just went nuts
2 cent drop on the AUD in 2 secs. then rebound.
I can smell a equity flash crash creeping up.
I'm no trader but I follow euro very closely, just follow though since I want to buy some property down there.
It was 1.3193 only few minutes ago. Now it's 1.3245.
this helps!
Naked Gun - Baseball Clip - YouTube
Prior to Horus, we had the Sumerians who had a society they reformed from the Anunnaki. In 2012, we have new tinker bells acting as worldly GODS tweaking what is never taught in schools. The beat goes on..
Gimme one minute...
http://www.youtube.com/watch?v=GzdwaARGtEY&feature=related
Futures taking a bit of a dive! This can't be good!
a total HFT mess. deal is in.
EUR is up. Deal is in. Markets look chaotic.