Stocks Tumble After Eurogroup Meeting Suspended With "No Deal In Sight"

As reported in exhaustive detail earlier this morning, talks between Greece and creditors have once again fallen apart as the Greek delegation is unwilling to concede to the IMF's demands for pension cuts and a VAT hike: 

  • NO EUROGROUP AGREEMENT IN SIGHT ON GREECE: EU OFFICIAL
  • EUROGROUP HAS BEEN 'INDEFINITELY SUSPENDED:' EU OFFICIAL
  • EUROGROUP MAY RECONVENE ONCE GREECE PROPOSAL RECEIVED: OFFICIAL

Just remember, Greece doesn't matter...

 

 

The algos' reaction to the news was violent and swift:

Meanwhile things are rapidly imploding:

Which means that Tsipras, back to the wall, is again threatening with elections/referendum and maybe even resigning as rumored earlier, and outcome which is precisely the worst "Grexident" case outcome that so many have warned about and that Goldman, as we reported previously, has been plotting all along to give the ECB a greenlight for even more QE...

Officials arrive for the EU summit (live):