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Greek Meeting Ends Without Conclusion: LAOS Head Refuses To Sign Deal

Tyler Durden's picture




 

Bloomberg reports that at almost 1 am local time, the Greek government meeting has broken up, and the head of LAOS is speaking, and by the looks of things, is not going along with the program:

  • KARATZAFERIS SAYS HE DID NOT HAVE ENOUGH TIME TO STUDY MEASURES
  • KARATZAFERIS SAYS HE NEEDS LEGAL ASSURANCES ON MEASURES
  • KARATZAFERIS SAYS HE MIGHT CONTINUE TO SUPPORT THE GOVERNMENT DESPITE NOT AGREEING TO DEAL
  • KARATZAFERIS SAYS HE MADE HIS POSITIONS CLEAR EARLY IN MEETING
  • KARATZAFERIS SAYS HE APPRECIATES THE PREMIER'S EFFORTS
  • KARATZAFERIS SUPPORTED ND LEADER ON ISSUE OF PENSIONS

Translation: no deal. And, dum dum dum, another headlines says that the Troika is now back in Papademos' office. The suspense builds.

In other rheotrical statements, got ink?

 

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Wed, 02/08/2012 - 18:51 | 2139613 speconomist
speconomist's picture

Unbelievable

Wed, 02/08/2012 - 18:57 | 2139641 GenX Investor
GenX Investor's picture

"KARATZAFERIS SAYS HE DID NOT HAVE ENOUGH TIME TO STUDY MEASURES" - Why are you idiots telling me about this now????  How can I work under these conditions.....................

Wed, 02/08/2012 - 19:05 | 2139669 falak pema
falak pema's picture

Karat is probably ashamed to admit he is colour blind and can't see the red from the black on the Troika  balance sheet extracts.

Wed, 02/08/2012 - 19:30 | 2139742 French Frog
French Frog's picture
  • KARATZAFERIS SAYS HE DID NOT HAVE ENOUGH TIME TO STUDY MEASURES = i have studied the measures but if i act this way then at least i'll look like i'm making a stand
  •  
  • KARATZAFERIS SAYS HE NEEDS LEGAL ASSURANCES ON MEASURES = i have assurances already but if push comes to shove i can always argue that i had nothing on paper
  • KARATZAFERIS SAYS HE MIGHT CONTINUE TO SUPPORT THE GOVERNMENT DESPITE NOT AGREEING TO DEAL = i WILL support the government in the end; i'm simply posturing here
  •  
  • KARATZAFERIS SAYS HE MADE HIS POSITIONS CLEAR EARLY IN MEETING = i'm showing the people of Greece that really i was on their side (to start with at least)
  • KARATZAFERIS SAYS HE APPRECIATES THE PREMIER'S EFFORTS = i was with him right from the start but i couldn't show it openly
  •  
  • KARATZAFERIS SUPPORTED ND LEADER ON ISSUE OF PENSIONS = i might not have agreed with some stuff but on the all-important pensions, i was right there with the best of them
Wed, 02/08/2012 - 19:01 | 2139653 brewing
brewing's picture

the "suspense builds" only for those that give a shit...  we all know how this movie will ends, it's just a matter of when...

Wed, 02/08/2012 - 19:07 | 2139674 ilion
ilion's picture

I think we've seen this before .... like hundred times. Do you guys really believe this crap?

Wed, 02/08/2012 - 20:42 | 2139969 stocktivity
stocktivity's picture

Nope...it's all Bull shit!!!

Wed, 02/08/2012 - 18:51 | 2139614 TeMpTeK
TeMpTeK's picture

Drachma-ula...Back from the dead...

 

Wed, 02/08/2012 - 18:59 | 2139618 TruthInSunshine
TruthInSunshine's picture

There is a deal.

They said so in the papers.

Damnit.

Greek leaders ready to back austerity deal
  • Financial Times - ‎11 minutes ago‎
Leaders of Greece's fractious national unity government were on the verge of approving tough new austerity measures on Wednesday night, one of the last hurdles to be cleared before eurozone officials can sign off on a €130bn bail-out and save Athens ...
It's now official. There is a deal. Damnit. Or maybe not.
Now on to Portugal, Ireland, Spain, Italy & France.
We need to get this going so that all these countries can cut their deals, and then default on those deals shortly thereafter, starting with Greece.
Wed, 02/08/2012 - 21:14 | 2140075 Wipeout2097
Wipeout2097's picture

Right. PART of Europe only needs austerity. The all of USA needs austerity + police state.

Wed, 02/08/2012 - 18:54 | 2139623 CrashisOptimistic
CrashisOptimistic's picture

They'll proceed without him.  

Maybe.  The key is April elections.  If Papandreoiu can get those postponed, denying Samaras near term victory, then he might force a majority vote on the deal.

But if the April elections remain on schedule, no way in hell Samaras party and GPap's party will just give their seats to the LAOS party.

Wed, 02/08/2012 - 18:59 | 2139651 GenX Investor
GenX Investor's picture

Is the Greece or The Maldives????   Resignation at the end of a barrel of the gun...

Wed, 02/08/2012 - 19:06 | 2139671 CrashisOptimistic
CrashisOptimistic's picture

That's not really the problem.  The problem is the technocrat Papademos agreed to serve only until money flowed, or April at the latest.

Samaras' party has a substantial lead in the polls over Papandreiou's party and have rebuffed every attempt by Papandreiou to postpone the April election.

If this LAOS guy has carved out a position that will win seats, there is no way in hell those other two parties will let that happen.  They'll agree with his position and defend their seats.

It's also useful to keep in mind that regardless of Greece's agreement, clearly the bond haircut deal has not been agreed on or there would not be talk of the ECB having to take a haircut themselves.  

As of this second, pretty much NOTHING is in place.

Wed, 02/08/2012 - 19:36 | 2139740 dracos_ghost
dracos_ghost's picture

Well at least they'll have good seats on the Titanic. I'm not sure technocrat is appropriate here -- maybe amateurocrat. Dipshitocrat. NumbNutocrat.

I know the pols in the US are short bus kids, but Greek pols are really raising the bar on ineptitude.

This whole drama reeks of theater for the masses. If they don't have a done deal by now, it ain't gonna happen. Foreplay is over. Time for the money shot.

Thu, 02/09/2012 - 01:07 | 2140711 Nobody For President
Nobody For President's picture

"...reeks of theater..."

Of course. Greek tragedy. Ever see "Never on Sunday" (1960) with Melina Mercouri as the prostitute with the heart of gold? So a straight Homeric scholar trys to educate her, and takes her to a classic Greek play - she laughs when everyone else is crying, and cries when everyone else is laughing.

 

This latest 'being on the verge of an agreement' (since about December 20th) is the current Greek classic, and we ZHers are the ones laughing when everyone else is crying. Plus being the cheerleading crowd for Default.

 

"GIMMEE A D!..."

"GIMMEE A E!..."

 

Entertainment, bitchezzzz!

Wed, 02/08/2012 - 18:54 | 2139629 non_anon
non_anon's picture

is this the end to meet all ends?

Wed, 02/08/2012 - 18:55 | 2139632 Let them eat iPads
Let them eat iPads's picture

Would you idiots please hurry up and make a deal?

Ireland and Portugal want to know what they're going to get.

Wed, 02/08/2012 - 19:01 | 2139658 falak pema
falak pema's picture

I didn't know Portugal was in the 6 nations rugby!

Wed, 02/08/2012 - 18:56 | 2139636 Elwood P Suggins
Elwood P Suggins's picture

Does the Troika get paid overtime for working this late?

Wed, 02/08/2012 - 18:55 | 2139637 Cdad
Cdad's picture

Well then, the half life of the solution in the form of a "meeting" is decreasing rapidly...with meetings forming up within minutes of meetings breaking up.  What a promising development.

 

Wed, 02/08/2012 - 18:57 | 2139642 kaiten
kaiten's picture

LAOS refused? And what about VIETNAM? ;p

Wed, 02/08/2012 - 19:14 | 2139650 falak pema
falak pema's picture

They should send Karatzaferis to Afghanistan and parachute drop Karzai from Kabul to Athens. Pronto. he'll sign anything, if he gets his cut.

 

Now read this :


GAMECHANGER: The ECB Opens The Door To Debt Forgiveness Across Europe Simone Foxman | 17 minutes ago

Read more: http://www.businessinsider.com/gamechanger-the-ecb-opens-the-door-to-debt-forgiveness-across-europe-2012-2#ixzz1lppBxX2L

Wed, 02/08/2012 - 19:50 | 2139800 Calmyourself
Calmyourself's picture

Thats no shit Falak, karzai would sell his mother into slavery for a little opium and a 1,000 drachma..

Wed, 02/08/2012 - 19:05 | 2139644 Contra_Man
Contra_Man's picture

Relax, they just needed to go out and get a couple of slices, or is it more tranches... I get confused following things over there?

Wed, 02/08/2012 - 19:01 | 2139646 bob_dabolina
bob_dabolina's picture

So does this mean Bernanke is gona' need to buy another trillion in MBS?

Stimulus package? 

Something needs to get bailed out, I can feel it.

Wed, 02/08/2012 - 19:04 | 2139664 chump666
chump666's picture

That and he will ramp up swap lines to the ECB, which is essentially a delayed QE3.  The ECB will be covering a bid-less market in Europe soon...

Wed, 02/08/2012 - 18:58 | 2139648 youngman
youngman's picture

It is interesting the leaks are all saying a deal is done....probably to make the Greek politicians feel like they have to follow thru...they are being led by the press......hmmmmm..wonder why...???

Wed, 02/08/2012 - 18:59 | 2139649 Joebloinvestor
Joebloinvestor's picture

He needs a few weeks to read the papers.

Doesn't matter what they agree or sign, as it will not be implemented and everyone knows it.

I want to hear the commericial for CNBC change to Buffet saying," We had another pretty big pebble dropped....." when Greece finally defaults and the ripple effect upends the Euro.

Wed, 02/08/2012 - 19:01 | 2139656 tekhneek
tekhneek's picture

"It works 60% of the time, every time."

"That doesn't make any sense."

Wed, 02/08/2012 - 19:01 | 2139657 Cole Younger
Wed, 02/08/2012 - 19:02 | 2139661 chump666
chump666's picture

The market would have wiped Greece off the map mths ago and they would have been better for it.

 

Wed, 02/08/2012 - 19:04 | 2139665 fonzannoon
fonzannoon's picture

They should agree to even harsher cuts. Cut the minimum wage 70%. Agree to confiscate pensions in total. Agree to whatever they want, and more. Just get the money. Then turn around and do the Tom Hanks crazy laugh in money pit as they yell "I can't believe you gave us more money!!!!!"

Then tell them to fk off and learn their lesson. Again.

Wed, 02/08/2012 - 19:07 | 2139672 Eclipse89
Eclipse89's picture

EUR/USD plunges.

Bullish?

Wed, 02/08/2012 - 19:11 | 2139681 chump666
chump666's picture

bearish if it goes through the 100ema/ma (1.32).  might in asia.

and then obama's mini credit bubble bursts next few mths, USD could go bid again

Wed, 02/08/2012 - 19:26 | 2139733 Eclipse89
Eclipse89's picture

A ton of support below.

Need something shocking.

Must wait. What a pain in the ass.

Wed, 02/08/2012 - 20:11 | 2139864 Central Bankster
Central Bankster's picture

Any development is bullish because nothing can make this market drop!

Wed, 02/08/2012 - 19:07 | 2139673 Aductor
Aductor's picture

Hey Dum Dum You Give Me Gum Gum...

Wed, 02/08/2012 - 19:09 | 2139680 YesWeKahn
YesWeKahn's picture

Print, print.

Wed, 02/08/2012 - 19:11 | 2139688 Cole Younger
Wed, 02/08/2012 - 19:17 | 2139709 MrBinkeyWhat
MrBinkeyWhat's picture

Tyler:

Seems a little bit personal, but WTF! Really You (*) are the AwesomeO TM. OK so WTF if you should get some fiat to convert to GOLD because this the BEST financial analysis site on the Planet. MAYBE some additional planets as well.

Wed, 02/08/2012 - 19:19 | 2139715 adr
adr's picture

Well the kings of cooking books, Buffalo Wild Wings, blew away estimates and sent the stock up 17%. By next week another piece of momo garbage will be a triple digit stock. What fucking world do we live in?

Wed, 02/08/2012 - 19:46 | 2139788 1eyedman
1eyedman's picture

c'mon Karat!   throw it down, get the generals on your side and escort that eurocrat scum to the border! 

here is to the rebirth of democracy in Greece, its birthplace!! 

Get up, stand up!

Wed, 02/08/2012 - 20:02 | 2139834 toto
toto's picture

It is a hard days night fyrer sang.

Wed, 02/08/2012 - 20:09 | 2139859 The Reich
The Reich's picture

KaraWTF

Wed, 02/08/2012 - 20:10 | 2139860 Central Bankster
Central Bankster's picture

This is bullish news right?

Wed, 02/08/2012 - 20:21 | 2139901 rsnoble
rsnoble's picture

And while we all await the collapse one of these am's they will announce Greece is saved and the DOW explodes past 13k. 

On a more serious note if the SP is able to not only reach the high from last year, as well as go higher, it is going to blow the mind of most brilliant technical analysts in the world. No kidding.  It's almost unthinkable. People that don't really know charts wouldn't understand what im talking about but let's just say the power of the Fed is without debt remarkable. At this point in time.  To date in history not one market that was manipulated didn't end up in a very bad way.  No one knows when that day is, many have been calling the top before DOW 10k.  And here we are 3k points later.  Obama was right.........."now looks like a good time to buy stocks". He must be one hell of a technician, lmao.

Most people in the real world are still in awe of all this hocus pocus.  I have a sisterinlaw that has a masters degree and told me she knew things were ok because "I watch the stock market and stuff". No kidding, exact quote.  I conclude that "stuff" is Fox news. Then she was estatic the other day because her x husband was laid off from his concrete truck driving job 2 months earlier than normal.  I don't think she realizes how the whole economy(or lack thereof) is innerconnected. Of course being in the medical community and charging insurance companies $150k for a hang nail her paychecks are still rolling in. 

Wed, 02/08/2012 - 20:46 | 2139977 q99x2
q99x2's picture

What suspense? They are getting a deal no matter how much the EU has to pay them. Tell me when it's over.

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