Greece's Euro Exit Seems Inevitable - page 14

New comment
 

Tsipras gets party leaders signing from the same hymn sheet

Joint statement is issued by Greek party leaders

  • Referendum gives no mandate for rupture
  • Political leaders seek agreement to cover financing needs
  • Goal is to secure country's financing
  • Deal should tackle sustainability problem
  • Goal is to reach a sustainable agreement
  • Leaders commit to reforms
  • Restoring liquidity is the top priority
  • ECB must immediately restore liquidity

That last comment will go down well in ECB HQ

read more

 

if they don't exit they are crazy

 

Germany's Gabriel says he only sees debt reduction upon Greek reforms

Dep chancellor and econ min speaking to Stern

  • nothing gained by wiping out Greek debt
  • accepting Greece into the euro was "naïve"

Perhaps they should have asked more questions then and a thorough check of the books. Rich comment given all the fudging of stats that was going on when euro first introduced

Bloomers reporting. No further detail

Meanwhile EURUSD is holding 1.0955 support lines for the moment but rallies limited

GBPUSD now through 1.5500 to post 1.5493. More bids near by

USDJPY testing good demand at 122.50 as EURJPY remains offered

USDCAD failing to hold gains above 1.2700 as oil price firms albeit off its tops now. Brent crude $57.33 vs 57.56 highs

source

 

Comments from EU's Tusk, Juncker .... and more from Merkel

Tusk:

  • EU leaders to meet on sunday in brussels for summit on greece
  • We have only five days left to find the ultimate agreement for greece
  • Final deadline ends this week

    • Juncker:

    • I hope that by Friday morning Greek government makes detailed reform proposals
    • We have a Grexit scenario, prepared in detail
    • I am strongly against Grexit but I cannot prevent it if Greek government does not do what is asked of it
    • We are not "terrorists", I do not like this word, but the last moment for Greece to say what it wants is friday morning
    • We are ready to come back to debt related issues in October
    • ECB commitments will depend on Greek commitments by Friday morning at 0830

      • and more from Merkel:

    • Says new Greek programme should last two years, will certainly have to discuss debt sustainability
    • Says we stand by 2012 commitment to look at debt relief for Greece if fulfills conditions
    • Says there can be no question of a debt haircut for Greece, would be illegal under EU treaty
    • Didn't discuss size of aid package, "I'm not exaggeratedly optimistic"
    • Says Draghi assured leaders ECB would do its duty for Greek banks enabling leaders' decision on Sunday

    Hollande

  • Says Eurogroup will meet to examine new Greek proposals on Saturday
  • Says a deal is still possible
  • the ECB will assure minimum liquidity for Greece until Sunday

source

 

Juncker : "I am strongly against Grexit but Icannot prevent it if Greek government does not do what is asked of it"

Is this man crazy? HE can not prevent? Who the hell he thinks he is to "prevent it"? Moron... Tax evading criminal that is on the position he is only because the other thieves awarded him for allowing theft of historical proportions

 

ECB's Draghi Not Sure Anymore Whether Greece Can Be Saved

The ECB president didn't sound particularly optimistic that Greece would eventually be spared of a default, Thursday's story from an Italian paper suggested.

European Central Bank (ECB) President Mario Draghi cast doubt on the possibility of saving Greece from bankruptcy, offering some gloomy thoughts on the future of the country inside the currency area.

Asked if Greece would eventually strike a deal with its foreign lenders, Draghi told the Italian financial daily Il Sole 24 Ore as he was boarding a plane in Brussels on Wednesday: "I don't know, this time it's really difficult."

However, he doesn't think that Russia would take advantage of the situation and offer some help. "I don't believe so, I don't see it as a real risk ... and then, they don't have money themselves," the story, published on Thursday, quoted him as saying.

Looming Grexit

Greece has less than 96 hours to find an agreement with its foreign lenders, with the nation's Prime Minister, Alexis Tsipras, facing a midnight deadline tonight to deliver reforms to creditors.

On Wednesday, the Greek finance ministry made a formal request for another loan from the EU's bailout fund, the European Stability Mechanism (ESM).

Meanwhile, the likelihood of Greece retreating from the euro swung above 50% for the first time ever, a Reuters poll showed also on Wednesday.

source

 

A central bank head tell "I don't know". Funny

He should know : a simple yes or no. But "I don't know" is for politicians not CB heads

 

Schaeuble says Greece needs a haircut but it won't get one

Comments from the German Finance Minister:

  • Greek debt sustainability is not feasible without a haircut, he thinks the IMF is correct in saying that
  • There won't be a haircut because it would infringe on system of European Union

So they need a debt cut but aren't going to get one.

Schaeuble started banging the table and ranting when he was reminded that German debt was written off after the war. He said that's different because there was no monetary union. If anything, a 'union' implies you should get more help from neighbours.

You can see why Athens is getting sick of working with this guy.

 
theNews:
Comments from the German Finance Minister:
  • Greek debt sustainability is not feasible without a haircut, he thinks the IMF is correct in saying that
  • There won't be a haircut because it would infringe on system of European Union

So they need a debt cut but aren't going to get one.

Schaeuble started banging the table and ranting when he was reminded that German debt was written off after the war. He said that's different because there was no monetary union. If anything, a 'union' implies you should get more help from neighbours.

You can see why Athens is getting sick of working with this guy.

The guy is using to much schnaps - but that is better than what the rest is using

 

I wonder what will the Greeks tell to a betrayal?

1...7891011121314151617
New comment
Reason: