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Monday, July 13, 2015

Greek Bailout Deal Agreed????

Allegedly, if reports and headlines are to be believed (and the algos will certainly believe them), a bailout deal has been agreed.

As to whether the Greeks have agreed this, or indeed will action whatever it is, remains to be seen!

It seems unlikely, as per the FT Tsipras:
"agreed to sequestrate €50bn of Greek assets - for privatisation, bank recapitalisation and debt repayment - and put them into a special Athens-based fund. 

However, Greek officials warned that such violations of Greek sovereignty and democracy would be impossible to pass through a restive Greek parliament.

Mr Tsipras must implement the list of economic pledges by Wednesday as a pre-condition for a possible start to formal negotiations later this week on a financing package to stave off the bankruptcy of the fast-deteriorating economy."
The wheels will fall off this wagon before the ink is dry on the official Euro Summit statement!

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