Greek Deal Done? Not So Fast Says IMF
Update - It gets even better: Greek Deal Lacks Detailed Paperwork For Decision - DJ. What, 50 pages of promises is not enough.
The Greeks "pledge" that they will grow their economy in 2013? May as well pledge unicorn cab cabs for all Germans to their southern province in perpetuity. Yet somehow this is sufficient to squeeze the EURUSD higher as a "deal is done." Perhaps, but not so fast. As we speculated, the Troika not only does not want to fall for the same Greek BS any more, but frankly wants it out (and Germany votes on the bailout package tomorrow) - but has to do it diplomatically. So here it comes:
- IMF SAYS IT'S NOT FORCING AUSTERITY ON GREECE AS TALKS CONTINUE - BBG
- RICE SAYS IMF "WELL AWARE HOW DIFFICULT' IT IS FOR GREECE - BBG
- IMF'S RICE SAYS IMF MINDFUL OF `HARDSHIPS' IN GREEK PROGRAM - BBG
- RICE DECLINES TO SAY WHAT IMF SHARE OF NEXT GREEK LOAN WILL BE - BBG
But the most ominous of all:
- IMF SAYS 'PRIOR ACTIONS' LIKELY TO BE REQUIRED BEFORE FUND OK OF NEW GREEK LOAN PROGRAM - DOW JONES
By the way, dear US taxpayer, the IMF - that's you.