Precisely an hour ago, just after Dow Jones broke the news that a Greek IMF director confirmed what everyone with half a frontal lobe knows very well, namely that Greece needs at least one more bailout, and realistically many, many more, because recorder debt can never fix record debt: you need recordest debt for that (just ask Keynesians), we said this:
we need rumor of a denial from Greece
— zerohedge (@zerohedge) September 13, 2012 [3]
And, as always happens in these cases, here it comes:
- GREEK FINANCE MINISTER DENIES REPORT THAT GREECE NEEDS A THIRD BAILOUT
- COUNTRY'S POSITIONS ARE FORMULATED ONLY BY HIMSELF AND PRIME MINISTER SAMARAS
Alas, the cat is now out of the bag, and any further denials out of Greece merely bring the moment of departure closer. Not even the EURUSD algos are buying it.