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Thursday, July 09, 2015

Greece's D Day

Today really is the final deadline (even the eurozone won't flex this one again) for Greece to submit a detailed proposal on the back of yesterday's vague one.

The French are so worried about Greece screwing this up again, that they have sent a team of experts to Athens to go through and edit the proposal line by line before it is officially submitted.

Meanwhile the banks and stock exchange remain closed. Didn't Yanis promise that they would reopen on Tuesday?

ECB Governing Council member Ardo Hansson said in an interview in Estonian newspaper Postimees:
A few months ago I wouldn’t have believed that Greece would leave the euro area. 

Now several months have passed without moving toward a solution. By now Greece’s situation is much worse than it was even 10 days ago. 

The situation isn’t hopeless but it is quickly and sharply deteriorating.” 
This will not end well!

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