Saturday, April 18, 2015
Yesterday's Bloomberg outage caused chaos in global financial markets.
Despite the fact that Bloomberg stated that their multi system back didn't kick in, as was self evident, no one has yet publicly stated why the system crashed.
The questions stands, why did Bloomberg crash?
Friday, April 17, 2015
"If they want to find money somewhere else, whether in Moscow, or Beijing, or New York, that's fine, we'll be happy.Over and out!
We will not help a country that refuses to help itself. If Greece wants the next disbursement of €1.8bn, it must fulfil what is agreed. That is called the Memorandum of Understanding."
@NatWest_Help my Natwest app keeps shutting down before I even type in my password please help thanks— Ken Frost (@ken_frost) April 17, 2015
@ken_frost Hi Ken, please try to delete the app, text stop to 82628 re-install. Let us know how you get on. AS— NatWest Help (@NatWest_Help) April 17, 2015
@NatWest_Help thank now working again, why did it collapse?— Ken Frost (@ken_frost) April 17, 2015
@ken_frost It was just an issue with the recent update, apologies for the inconvenience. AC— NatWest Help (@NatWest_Help) April 17, 2015
Those of you having problems with your NatWest app may need to follow the steps outlined in the Twitter exchange above.
#Greece FinMin @yanisvaroufakis meets in Washington #ECB President at 10am, US Treasury Secretary Jack Lew at 4.30pm & #Italy FinMin at 6pm.
— Manos Giakoumis (@ManosGiakoumis) April 17, 2015
Still attempting a political solution, and avoiding facing the Troika.
This will fail.
Thursday, April 16, 2015
According to officials briefed on the talks by both sides, Athens was persuaded not to make a specific request for a delay to the Fund, which is owed almost a €1bn in two separate payments due in May.
However, this is something that Greece is now denying.
Gov't spox denied the same day that Greece would ask for delay or repayments to the IMF.Whilst a denial is all very well, the reality is that Varoufakis will (as per City A.M.) on Friday (on the tail end of his last chance saloon meeting with Obama) meet with infamous sovereign debt lawyer Lee Buchheit, who has helped numerous countries restructure their debt. Buchheit is a partner at top US law firm Cleary Gottlieb.
— Yannis Koutsomitis (@YanniKouts) April 16, 2015
Varoufakis is clearly not meeting Buchheit to talk about the weather!
Greece has of course denied that it is planning to leave the euro.
We must of course disregard the denial and look to the reality, Greece is quite evidently planning to:
- Exit, and
- Devalue its soon to be reintroduced Drachma
Wednesday, April 15, 2015
GREEK GOVT HASNT MADE TOO MANY FRIENDS: GUINDOS1 Join the eurozone by fiddling the books.
— Dealingroom (@Dealingroom_EN) April 15, 2015
2 Borrow an exorbitant amount of money from people, which you know you can't pay back.
3 Don't bother collecting taxes.
4 Blame everyone else for your predicament.
5 Claim an exorbitant amount in war reparations from one of your fellow eurozone members.
6 Miss all deadlines.
7 Publicly slag off fellow eurozone members, especially Germany.
8 Put together a slapdash list of half baked "reform" measures in Greek. but not in any other eurozone language.
9 Threaten to write off "illegal" debt.
10 Threaten to default and call an election if the your creditors don't come to terms with you.
Tuesday, April 14, 2015
Suffice to say Greece has denied these reports.
However, its creditors are no longer in any mood to "play nice" and will view this as an attempt to push for better terms and conditions, an attempt that will be refuted.
Greece's days in the eurozone are numbered, the only question is whether it will leave on its own terms or be pushed out.
Monday, April 13, 2015
Suffice to say Greece's finance ministry has dismissed the report, saying it was inaccurate and undermined ongoing negotiations.
Irrespective of the accuracy or otherwise of the tax driver comment, Greece has yet to come up with a coherent, viable and auditable reform plan. Hence, it is certain that the euro group is feeling very frustrated at the delays.
Thursday, April 09, 2015
"Euro zone deputy finance ministers gave Athens a six working day deadline to come up with revised reform proposals to enable a deal to be reached at a Eurogroup meeting on April 24."Greece doesn't believe in deadlines, and the rest of the world has given up on these particular deadlines.
Do not expect anything tangible to be produced by the deadline!
Greek PM Tsipras says financial aid from Russia is not the solution for negotiations with Eurogroup (@RANsquawk)
— Open Europe (@OpenEurope) April 9, 2015
Meaning that the terms and conditions requested by Russia were not what Greece can currently accede to, and that Greece has a much better plan.
What is the plan?
To write off the debt that it regards as "illegal"!
How will it determine what is "illegal"?
Via the Debt Truth Committee.
Wednesday, April 08, 2015
Not only will Germany not pay it, but the demand has wasted/destroyed what political capital, time and sympathy others may have for Greece.
Thus it is not not just the demand that is "stupid", but the Greek government as well.
The only reason that Greece hasn't asked Russia for aid, is because Russia has already offered loans etc.