Auntie Angela has finally snapped at the panhandlers begging for handouts, making it clear what the quid pro quo considerations are for interest rate concessions:
- MERKEL SAYS GREECE MUST SELL ASSETS IN RETURN FOR RATE CUTS
- MERKEL SAYS IRELAND MUST BACK JOINT CORPORATE TAX BASE FOR CUTS
- GERMAN LAWMAKERS CITING MERKEL AS COMMENTING IN CLOSED SESSION
- GERMAN LAWMAKERS SPEAKING ON CONDITION OF ANONYMITY
So the ball is now back in the beggars' court.
This is great news for Goldman prop traders and for John Paulson as (a non extradition) Santorini will be back on the market very soon.