Loans and Finance

Loans and Finance


News and information about loans, money, debt, finance and business issues.

Friday, May 22, 2015

Greece's Open Issues

The wave of hyped, fake optimism exuded by Tsipras about a deal soon being reached between Greece and the Troika has of course been well and truly quashed.

Merkel has said that further work needs to be done with the Troika. As noted before, Merkel has in the past told Tsipras that it is not in her gift to disburse funds nor to persuade the Troika to do a deal.

Quite why Tsipras doesn't understand that is beyond me.

For the record the "open issues", as Bloomberg describes them, between the Troika and Greece include:

- Pensions
- Vat
- Targets for a primary budget surplus

These issues will never be closed; because Greece has neither the intention, nor the ability, to resolve them!

Thursday, May 21, 2015

No Extension, No Disbursement, No Greece

Wednesday, May 20, 2015

Varoufakis On Schaeuble

Greece Deliberately Poisons The Well

Despite Varoufakis claiming a couple of days ago that a deal was imminent, the Greek government is determined to bollocks up the faux negotiations and poison the well.

As per Reuters:
"The Greek government's parliamentary speaker said on Wednesday that Athens will not make a payment to the IMF that falls due on June 5 unless it has reached a deal with its creditors by then."
That all but screws up the minuscule chance the Greece might have had of gaining some form of reprieve.

It's game over folks!

Tuesday, May 19, 2015

Varoufakis Expects Deal Within a Week

Greek Finance Minister Yanis Varoufakis told Star TV that he expects an agreement with the Troika within the next week.

Same old same old.

There is no justification for this hype or optimism, it will go the same way as all previous optimistic headlines about a deal being imminent have gone! 

UK Not Yet In Deflation

Much like a recession, negative inflation becomes deflation when it is persistent over two successive quarters.

Monday, May 18, 2015

Greek Government Spokesman Starts Bank Run

Greece Gives Two Fingered Salute To Troika

With that gesture, Greece flounces off without any further bailout or help.

Greek Municipalities Refuse To Play Ball With Tsipras

Alexis Tsipras
Unsurprisingly Greek municipalities are not playing ball with Tsipras, and his Dick Turpin cash grab. They are refusing to hand over their money to the central government.

I wonder if the embassies are being more compliant?

Saturday, May 16, 2015

Greece Asks Embassies To Hand Over Cash

In a sign of utter desperation, Athens has requested its foreign embassies and consulates to hand over their spare funds to the government in order to stave off a domestic default on pensions, wages etc.

Friday, May 15, 2015

Barclays May Face $60M Fine

Bloomberg reports that Barclays Plc will probably be fined for violating a three-year-old settlement over interest-rate rigging, the amount of the fine may be up to $60M.

Thursday, May 14, 2015

Greece Sets New "Deadline"


Had they really wanted a deal they would have made one in the last 100+ days since being elected to office.

Varoufakis Blames The Media

Varoufakis Calls For Debt Push Back

Varoufakis has called for Greece's debt repayments to the ECB to be pushed back.

Fat chance, the ECB and Greece's other creditors are not going to budge!

Wednesday, May 13, 2015

Greece Back In Recession