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Monday, March 30, 2015

Troika Nixes Greek Reforms Proposals

As per the Wall Street Journal:
"Greek proposals for a revised bailout program don’t have enough detail to satisfy the government’s international creditors, eurozone officials said, making it more likely that Athens will need to go several more weeks without a new infusion of desperately needed cash."
Indeed the Troika are singularly unimpressed with the proposals, as per a eurozone official:
"The proposals were piecemeal, vague and the Greek colleagues could not explain technically what some of them actually implied.

So, let’s hope that they present something more competent next week.” 
Scathing comments to say the least!

The final nail in the coffin for Greece is the fact that euro finance ministers will not meet to discuss Greece until mid April, thus Greece will not get any money at all until then (if at all).

There will be an emergency debate in the Greek parliament today, the end game has begun and it is probably a matter of days before Greece bites the bullet and leaves the eurozone.

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