Following this evening's "private" meeting with Jean-Claude Juncker and Jeroem Dijsselbloem, Greek PM Alexis Tsipras once again admits that there is no deal. Both sides issued statements - The EU's was a 3 sentence boiler-plate; and Tsipras was a brief press conference on Greek TV. In the interests of clarity we provide the statements (and their actual translations from "we have nothing to say" to "this is what we are trying not to say.")
The European Commission:
*EU COMMISSION SAYS TALKS WITH TSIPRAS WERE CONSTRUCTIVE [no plates were thrown]
*EU COMMISSION: INTENSE WORK ON GREECE TO CONTINUE [we are no closer at all to a deal]
*EU COMMISSION SAYS PROGRESS MADE IN UNDERSTANDING POSITIONS [it is our way or no-way]
It was agreed they will meet again - [seriously!?]
Tspiras then explained:
*BRUSSELS TALKS WERE CORDIAL: TSIPRAS [we finished dinner before plates were thrown]
"DON'T WORRY," TSIPRAS SAYS ABOUT FRIDAY IMF PAYMENT [Please do not pull all your deposits from Greek banks, everything is fine]
"We are very close on an agreement on primary surpluses; that means that all the sides agreed to go further without the tough austerity measures of the past." [Rest assured fellow Greek politicians, we will magically achieve a primary surplus with lower tax receipts and no austerity]
"I think the realistic proposals on the table are the proposals of the Greek government" [sadly it seems the EU disagrees]
"Aid accord w/ euro area, IMF is “in sight”" [like a mirage in the desert?]
GREECE TO NEAR AGREEMENT WITH CREDITORS IN `NEXT DAYS': TSIPRAS [if only The EU would back down on VAT and Pensions provisions]
Tsipras “optimistic” European Commission intends to continue with a “realistic point of view” [when did hope become the international negotiating strategy]
And finally Jeroem added:
*DIJSSELBLOEM EXITS BRUSSELS TALKS, SAYS `MEETING WAS GOOD' [Only the cheap plates were thrown]
* * *
So to sum it all up - No Deal... no closer to a deal... and the same sticking points remain.
For those looking for any glimmer of hope - they claims to be close to an agreement on fiscal targets - Almost no progress over pension system - Small progress on VAT & taxes
EURUSD is drifting slowly lower - entirely unimpressed by this news... (if news is what it can be called)
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