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Referendum Day To Decide Greek's Future Is 12/4
Just headlines, via Bloomberg, for now as Juncker and Sarkozy play good-cop / bad-cop:
*SARKOZY SAYS REFERENDUM WILL DECIDE GREECE'S EURO FUTURE
*SARKOZY SAYS REFERENDUM WILL BE AROUND DEC. 4 OR DEC. 5
*SARKOZY SAYS CAN'T HAVE 'PROLONGED PERIOD OF UNCERTAINTY'
*SARKOZY SAYS 'WE ARE READY TO AID GREECE'
*SARKOZY SAYS GREECE WON'T GET `SINGLE CENT' WITHOUT ENACTMENT
*JUNCKER SAYS AID PAYMENT DEPENDS ON GREEK VOTE
*GREECE HAS `LOST 8 BILLION. THAT IS A PITY,' JUNCKER SAYS
and then Angie butted in:
*MERKEL SAYS GREEK REFERENDUM IS MASSIVE CHANGE OF SITUATION
*MERKEL SAYS FIREWALL MEASURES MUST BE SPEEDED UP
*MERKEL SAYS KEEPING EURO STABLE IS THE PRIORITY
*MERKEL SAYS EU EXPECTS POLITICAL CONSENSUS IN GREECE
*MERKEL SAYS GREECE MUST ACCEPT FULL DEAL TO GET NEXT TRANCHE
Christine then added, rather passive-aggressively (given out earlier note on Greek maturities):
*IMF'S LAGARDE SAYS HOPES GREECE TRANCHE CAN BE CLOSED MID-DEC
Initial reaction is ES selling off 3-4pts and very slight downtick in EUR
UPDATE: ES -6pts and EUR -35pips - some CONTEXT for where markets stand based on ES rally today as broad risk-assets generally sold off:
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"Monsieur Président," said Premier Hu,
"If the Greeks carry on as they do,
We would scarcely esteem
Your stability scheme,
Or the chance of financing it, too."
http://www.limericksecon.com
Not a day passes and the "referendum on measures/haircut" is forgotten, just as I predicted. In its place, to avoid total admission of capitulation, we have one on "staying in Europe/the Euro", an obvious rubberstamp as at least 2/3 of the Greeks say YES (according to polls).
Ach, so.
And Greek Riot Dog says ... "let's do it!"
http://egotvonline.com/2011/06/30/a-gallery-of-riot-dog-photos/
Ok greece is sarah conner. IMF rothchilds are the terminator. Whose reese saying come with me if you want to live.
Expect IMF unilateral stick save of Greece this weekend. The whole BS bailout package and the phony referendum ploy was a con job by Pap and EU to get G-20 to pony up the money for it. Pap doesn't have the 180 votes for the referendum and no way in hell he surprized Mercozy with it!! Timed perfectly for G-20 meeting.
It has ALWAYS been about getting somebody else to pay!!! Socialists always expect someone else to pay!
The Questions:
1. Do you approve of the deal to forgive half of our National debt, minus what is held by the ECB, that the Euro countries and banks have offered to our country, under conditions of strict austerity?
Yes/No
2. If No, is this because you think it unwise to offer our financiers and future financiers only 50ct for every Euro lent to us?
yes/No
If yes, how much more (between 50 and 100%) do you want to pay back?
3. If No, is this because you consider the cut too little and wish that our State will offer them less than 50%?
yes/No
If yes, how much less? 0, 5, 10, 15, 20, 30, 35,40, 45%
If no: please write your own reason in 180 char.
Breaking from Greece
The Government is collapsing
Cabinet meeting in an hour
Markets rallying. Bankers dancing in the streets on the backs of Greek debt slaves and singing "No referendum for YOU peasants!".
Unfortunately in Greece there is a coup unfolding right now. Not a military one.
The Greek referendum was the catalyst that mobilized all the media overlords - owners of big construction/development firms - major shipowners - bankers - to overthrow G-Pap.
Never supported G-Pap, but now I am well aware that people pulling the strings behind the scenes have decided to do everything in their power to impose the IMF-EU mantra in order to save themselves.
This is a new "Dark Ages" brought upon the Greek people... Soon coming to a country near you.