Germany
Greece Gives Germany And European Union One Week Ultimatum (No, You Are Not Dyslexic)
Submitted by Tyler Durden on 03/18/2010 09:32 -0500First 130 Congressmen, now Greece: the examples of people who have no idea what the definition of negotiating leverage means just don't stop. G-Pap has decided to go all in on 2-7off suit . The problem is everyone knows what his cards are, and his bluff is about to be promptly called by everyone; too bad the Cyclades are still not in the pot. Give them a few weeks... Bloomberg reports that: "Greek Prime Minister George Papandreou set a one-week deadline for the European Union to craft a financial aid mechanism for Greece, challenging Germany to give up its doubts about a rescue package." And here we were thinking only Bernanke was clinically insane. G-Pap, it turns out, is shocked that someone can just say no to his generous offer of allowing someone else to bail him out. Act now, or in one month when you can buy Greece (and its islands) in a 363 sale, it will be too late (to overpay).
Germany Finally Comes Out and Says, "We're Not Touching Greece" - Well, Sort of...
Submitted by Reggie Middleton on 03/17/2010 15:35 -0500Germany is openly saying what we all really know, Greece is probably !@#!$%. The problem is, how can Greece go down without pulling half the Euro zone with it? The Greek tragedy saga is much worse than the mainstream media is making it out to be. Reference my annotation on today's Bloomberg article...
ECB Warns Germany's First Quarter Growth May Be Negative
Submitted by Tyler Durden on 03/09/2010 09:23 -0500The most probable replacement to Trichet, Axel Weber who is a member of ECB's governing council said earlier on Bloomberg TV that extend and pretend is now shifting to Europe warning that Germany's Q1 growth could be negative, of course qualifying the statement that everything past this quarter will be stronger. Weber said that "a very weak first quarter means that the second and third quarters will be stronger." Even so he said there was still no reason to revise the expectation of German growth in 2010 to just over 1.5%. German growth in 2010 to just over 1.5%. We fail to see how with austerity measures sweeping across traditional German import partners, particularly within the PIIGS, there is any hope that the German economy will regain an upward trajectory, although by Q2 and Q3 when various additional stimulus measures will have to be announced globally, and the ECB will likely finally commit to QE, he may very well be right. As more and more of the world is becoming like China in goalseeked GDP growth virtually all economic indicators are starting to lose any predictive value, especially on an adjusted "stimulus-free" basis.
Short Sale Ban V2 Coming? Germany's Regulator To Require Short Financial Position Disclosure
Submitted by Tyler Durden on 03/04/2010 11:37 -0500Yesterday CDS speculators, today financial shorts, tomorrow the world. German regulator BaFin has learned absolutely nothing from America's 2008 brush with the short sale ban, and has announced that it is tightening disclosure rules on short-selling as related to ten financial company shares, saying it "wanted to ensure the stability of the financial system" is preserved. Ah, the old "if-the-world-is-threatened-by-vicious-speculators-you-must-acquit-of-irresponsible-fiscal-policies-and-mismanagement" defense. Additionally, BaFin, which is still trying to figure out just who it was that got cremated on the most ridiculous short squeeze ever (i.e., Volkswagen) said that the move was made necessary "by the need for the regulator to be informed quickly to take "targeted action" should such activity pose risks."
Germany Coalition Member: "No EU Aid For Greece, Must Help Itself"
Submitted by Tyler Durden on 03/02/2010 11:25 -0500It has been at least 15 minutes without a rumor, report, or actual development on Greece. So here is one: Market News reports that a senior member of Chancellor Palpatine, er, Angela Merkel's CDU/CSU-FDP government coalition has told the news agency that "Greece cannot count on financial help from the European Union and has to solve its budget problems on its own."
Is Ben Bernanke The Second Coming Of Rudolf von Havenstein, The Central Banker Responsible For Germany's Hyperinflationary Collapse (And Ostensibly WWII)?
Submitted by Tyler Durden on 02/26/2010 14:18 -0500
SocGen's Dylan Grice provides a gripping account of Germany's hyperinflationary episode, in which he charts the extended parallels between not just the precursor economy that lead to a 16,579,999% inflation in 1923 Weimar Germany, and modern day developed (and highly leveraged) countries, but between Germany's then central banker Rudolf von Havenstein, and the Greenspan-Bernanke duo. And while we know how "der Geld Marschall's" Weimar experiment ended, the future before the U.S., as a result of the Maestro's (both Senior and Junior) almost identical policy response is still open-ended. As the future of America is now exclusively in the hands of insidious economists, the following insight from Grice into the utility of economic models and decision-making should be sufficient to dash the hopes of any optimist for a favorable outcome.
Greece Retaliation Against Germany Escalates: Airbrushed Venus Statue Flipping Off Greeks By Banana-Eating Germans Prompts Greek Boycott
Submitted by Tyler Durden on 02/26/2010 12:13 -0500
Have we just crossed the historic Rubicon when a photoshopped classical statue is about to lead to a collapse in a monetary and customs union, and possibly something a tad more serious? Also, is the KFW bailout rumor too little too late? It appears the Greeks are two minutes away from saying "take you bailout and shove it." The reason: The Focus cover which shows a status of Venus de Milo flipping off the Greeks, who were characterized as the "cheats of the eurozone." After recent Greek media outbursts have recalled the Nazi wartime occupation of the country, as well as demands for WWII reparations, today's action by the Federation of Greek Consumers, calling for a boycott of products, made by "banana-eating" Germans, is a direct response to the airbrushed statue of Venus expressing the communal German sentiment. Oh, and that whole KfW rumor? Don't buy it: "[KfW bond purchasing] considerations have been presented because it's seen as the only way of avoiding accusations of...direct aid," the lawmaker said. But he stressed that no decisions have yet been taken. I.e., More posturing.
Latest Rumor: Germany's KFW Bank To Bail Out Greece With €5 Billion Short-Term Solution
Submitted by Tyler Durden on 02/26/2010 10:34 -0500Germany is considering buying Greek bonds through state-owned lender KfW Group, German lawmakers said today. KfW is preparing measures that are part of a European plan to grant Greece as much as 25 billion euros ($34 billion) in aid should the need arise, said four lawmakers, who spoke on the condition of anonymity because the information is confidential....Assistance to Greece should flow through the International Monetary Fund, the most suitable body to offer financial help that’s tied to stringent conditions, the lawmaker said. The IMF should provide more than technical assistance, the lawmaker said, citing aid given to Hungary and Baltic states as examples.
Breaking Headlines: INTERNAL REPORT SAYS GERMANY GOVT CANNOT AID GREECE: PRESS
Submitted by Tyler Durden on 02/10/2010 09:17 -0500More as we get it.
The Latest From Germany: "Greece Must Solve Own Budget Problem"
Submitted by Tyler Durden on 02/09/2010 13:15 -0500
Crazy pill time. More disinformation as we get it. Is Germany merely probing to see the market reaction to leaks? If the Bund collapses can they just call the whole thing off?
Here Comes The Selling As Germany Claims Greek Bailout Rumors Are Unfounded, Confusion Reigns
Submitted by Tyler Durden on 02/09/2010 12:51 -0500
Total, utter, complete confusion. The latest from Reuters, quoting a German Government official, is that the Greece bailout rumors are UNFOUNDED.
More Info On Moral Hazard, Global Edition, Via FT Germany
Submitted by Tyler Durden on 02/09/2010 12:30 -0500Now that there is no more risk, anywhere, here are the preliminary thoughts on how kicking the can down the road has just taken on a whole new meaning, courtesy of the FT Deutschland. We are certain that citizens of Germany and France will be ecstatic to see their tax money used to first save Greece, then Spain, the Portugal, then Italy, then Lithuania, then Bulgaria, etc.
PIIGS Fly As Greek Rescue By Germany Contemplated
Submitted by Tyler Durden on 01/28/2010 15:17 -0500
Yet another rumor denied vehemently by the Greek Finance Ministry, which automatically means it is 100% true, is that Greece rescue talks are reaching a fever pitch, and according to FT-Deutschland, Germany is seeing increasing pressure to bail out the struggling country. As Dow Jones reports "rescue talks are being held in the EU and with certain capitals about aid for Greece, according to the sources, the report adds. Several options are being discussed, one of which being bilateral loans from some euro zone countries, where Germany would have to shoulder a major part as the euro zone's largest economy."
Germany Issues $4 Billion In Dollar Denominated Bonds
Submitted by Tyler Durden on 09/14/2009 13:09 -0500In a sign of just how eager all foreigners are to piggy back on the US' premeditated destruction of the dollar, Germany has just issued $4 billion in three-year dollar denominated bonds.
Germany Fails To Place Treasuries Again
Submitted by Tyler Durden on 02/13/2009 16:53 -0500As the U.S. is preparing to issue trillions in Treasuries, with the latest twist being to add to the U.S.



