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Germany's Roesler Suggests Time's Up For Greece
Speaking at a briefing Rome, Germany's economy minister Philipp Roesler has been dropping truth-bombs this morning. These have perhaps been responsible for the decompression in European credit spreads (SENFIN now 8bps off tights at 291bps). The most unequivocal, and most ultimatum-like is his noting that "Merkel and Sarkozy will send a “clear signal” to Greece tonight on the need to meet deficit cutting goals".
Chart: Bloomberg
A few more select quotes sprinkled some salt on the wound (thanks to Bloomberg):
*ROESLER SAYS HE'S STILL AGAINST EURO BONDS
*ROESLER SAYS GERMAN HIGH COURT RULING RULES OUT EURO BONDS
*SARKOZY, MERKEL TO SEND CLEAR SIGNAL ON GREECE, ROESLER SAYS
*ROESLER SAYS GERMAN GOVERNMENT `EXPRESSLY' OPPOSES EURO BONDS
We anxiously await the conference call in three hours.
UPDATE: SOCGEN at day's lows once again -9.3% on the day.
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time is up bitches
It's good that they're going to send a "clear signal" to Greece, because the previous signals have been so ambiguous, right?
It's one thing to send a clear signal. It's altogether a different thing to actually mean it. Merkel has been sending "clear signals" for some time and ends up caving in at every opportunity.
Don't tell me about clear signals, show me.
sunny
This is getting to be like bad parenting. "You're grounded!" two days later "Ok I forgive you."
Why do the Germans hate the rest of humanity so much?
Ask Doctor Herrgruber
http://www.youtube.com/watch?v=WJWqcPfvQ9s
Unwinding Globalization is a bitch, ... bitchez.
Yea, in their diabolical schemes of globalization, first they need to unwind the globalization before the real total globalization can be instituted.
Personally, I dont think any of them know what the hell theyre doing.
Like James Bond villians who's master plans innevitably come crumbling apart.
and back to BAC
Why is gold down?
like thats a bad thing?
Not in the least
Why was gold up? I own gold, but until moves start being made to make it back some currencies, its just a metal with hardly any uses at all. Makes pretty jewelry and all, but then so does abalone shells.
Don't give people ideas with those abalone shells
Sell it then and get USD. There a geat investment just look at the history of thr dollar.
noone should listen to that kid, he got nothing to say. monkey will bail out greece and banks.
So we have everything from 'No danger of Greece defaulting for at least a year' to 'Greece is finished as of today'...place yer bets and crank up Mr Bonestripper Markets, everyone gets stripped clean.
Ad options expiration week to it and you have the perfect storm for unaware "traders"!
The matter of Greece is concluded. The markets closed that issue weeks ago....months even. That Merkel still thinks she is one conference call away from salvation is simply the manifestation of her faith in government over markets, and her faith in the fascist media to carry the water.
What we are seeing right now is desperation of the highest order in the figure heads in charge of the failed global Ponzi scheme. ZH has won the war. Pay day for common sense and risk aversion are directly ahead.
There is confirmation of all of this EVERYWHERE. Check the AUD/USD...where a crystal clear signal is about to be broadcast...entering the FX breakdown zone. Manufacturing contraction...remember that? How 'bout them retail sales? Did anyone notice what happened to McDonald's when it reported its same store sales last week? China...talk about your bumble fuck situations...with the world on its knees for their fiat as the cure all. Market correlation [including the GLD moving WITH SPY] There are a dozen different categories of confirmation for anyone to see plainly.
As far as I am concerned, it is only a question of which one of them turns out the lights. For my money...that would be Larry Fink from this morning.
Algorithmic joy joy is not the foundation upon which economic recovery will be built. The market has been lying...but only to itself.
Bath tub gin Depression Party at Dog's house...4:30 est....long Netflix shareholders prohibited.
Deafult in the middle of the night...Friday at that.
the market is trading off the technicals like clock work
we just hit our 1182 level and broke through 1178,1170 like swiss cheese
next 1162, then 1130, then 1050
then hold a gun to bernanke and force him to make it rain
Talk talk talk.......how do you build a house by talk....you don´t....the arm chair quarterbacks are all talk....they need someone to say..its over...stop the presses...move on....no more bonds...live within your means...no more debt...no more unions...no more politicians..no more campaign contributions..oh never mine..the world is screwed...we screwed it up...we are going to pay....and pay..and pay..and then they will take it all from us when we can´t anymore
wow SPY 117 no resistance what so ever...
Germany and Greece flirt with mutual assured destruction
Germany’s EU commissioner Günther Oettinger said Europe should send blue helmets to take control of Greek tax collection and liquidate state assets.
the only clear signal you can send, is to show italy what will happen to them by pulling the rug out from under greece.
that's the only clear signal i can imagine. action, not words.
Well, it could as well backfire in the face of stakeholders of the Eurozone-core and US if Italy were suddenly to realize that a Greece escape on the path of Ecuador/Iceland/Argentina is much preferable than the "rescue packets" of the EU-IMF (wich only rescue the bankster who buried the nations in debt).
There has been an epic shitstorm in german blogs and newspapers for weeks now. The europhil politicians were unable to find the ultimate spin so far. Resistance against eurobonds is growing day by day.
The last time an "age of globalisation" in Europe ended; it ended with a pissed off Balkan anarchist shooting the figure of the supreme European political elite of the time and kick-starting WW1 -- an event which I think we can agree caused a total fracturing and unravelling of Europe for, oooooh, about thirty years, and wiped out so much wealth that it would even make a hermit cry.
Now we have the end of another age of globalisation, and the supreme European political elite are busy poking a load of people, who just happen to have quite radical political contingents in their midst and whom live just a stone's throw from the Balkans, with a very big and nasty stick.
You can almost see it coming. I might as well put a Sov on a Greek an-cap from Thessaloniki.
Sarkozy & Merkel's idea of a "clear signal" to Greece is probably a stern warning while still handing over a new bucket of cash.
Meanwhile, Roesler stays in function, no gov. crisis in Germany and a majority in the Bundestag will pay for Greece. No Armageddon. You know. Yaaaaaaaaaawn.
2 weeks MAX.
If Roesler truly means it, then the Ecuadorian/Venezuelan/Icelandic/Argentinian option is open for Greece: in some year Greek people will make a monument on Syntagma square to Roessler, the rescuer of Greece (and Italy, and Portugal, and Ireland, and France...)
They ask for blood to pay off their own banks.
Blood will not pay off the bad debts around the world. Every medicare/medicaid/social security cut in this country, to austerity in any other country is a waste since none of it will change the trajectory of our fraudulent debt monetary system on the brink.
Glass-Steagall
Merkel and Sarkozy, just like the tea party, just like the democrats, just like the republicans, just like NerObama, are fucking complete mental midgets, idiots beyond repair. All wish to enact a plan that will not change jack shit, because this is a crisis OF the system, not some little part or series of parts within the system....that if only cut....or only taxed...or only whatever.
Merkel and Sarkozy, destined to be remembered on the side of the idiots, asking for blood so banksters bad debts are temporarily made whole. Much like everybody else since 2008.