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Monday, April 20, 2015

Greece Misses Deadline Again!

On 9th April I wrote the following:
"As per Reuters:

"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!"
Fast forward to 20th April and, surprise surprise, nothing tangible has been produced by Greece!

The IMF has made some bleating noises about being "hopeful", but Greece has reiterated that it will not cross its electoral "red lines".

Like it or not, Greece has no intention of producing a reform list that is either coherent or acceptable to the Troika. The IMF and other bodies must now face reality, Greece will default and there is nothing that can be done to avoid that.

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