Loans and Finance
Friday, May 22, 2015
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:
- 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
Wednesday, May 20, 2015
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
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!
Prices fell 0.1% in April. NOT deflation, which is persistent and long running fall in prices.— Andrew Neil (@afneil) May 19, 2015
Much like a recession, negative inflation becomes deflation when it is persistent over two successive quarters.
Monday, May 18, 2015
Serious guff by Greek gov spox Sakellaridis: He added the Cyprus-style bail-in of deposits element to the Cyprus-style last-minute blackmail— Yannis Koutsomitis (@YanniKouts) May 18, 2015
No one is suggesting or implying Cyprus-style bail-in of deposits for #Greece and suddenly Sakellaridis needs to deny such a scenario.— Yannis Koutsomitis (@YanniKouts) May 18, 2015
Greece will pay salaries and pensions at end of month - Spokesman. - Geez... does the spokesman know that he initiates a bank run?— *Russian Market (@russian_market) May 18, 2015
Greece hopes to conclude final agreement in May - Spokesman. -... and the Oscar for the "bank-run starter" goes to the Spokesman.— *Russian Market (@russian_market) May 18, 2015
The Greek Yields are on fire... Dax too.. Thank you, Mr. Spokesman.— *Russian Market (@russian_market) May 18, 2015
Greek gov't spokesman Sakellaridis says #Greece won't adopt "zero deficit rule" for pensions funds, won't cut supplementary pensions— Nick Malkoutzis (@NickMalkoutzis) May 18, 2015
With that gesture, Greece flounces off without any further bailout or help.
I wonder if the embassies are being more compliant?
Only 4 out of 325 municipalities have so far opened mutual accounts at Bank of #Greece to transfer assets as requested by gov't ~@airetosgr— Yannis Koutsomitis (@YanniKouts) May 18, 2015
Saturday, May 16, 2015
Friday, May 15, 2015
Thursday, May 14, 2015
FFS!Government Spokesman: Greek government wants a deal with creditors by the end of May— Jonathan Ferro (@FerroTV) May 14, 2015
Had they really wanted a deal they would have made one in the last 100+ days since being elected to office.
Wednesday, May 13, 2015
Despite believing in the irrevocable nature of the eurozone experiment (even though all currency unions end in failure) the members of the eurozone are now putting together a loan package to hand over to Greece when it exits the eurozone.
At best Greece might have just under a month left. However, it is quite probable it exits any day now.
Tuesday, May 12, 2015
Right on cue up pops "sidelined" Varoufakis (who still holds office), warning that Greece will run out of cash in two weeks and that the liquidity issue is "terribly urgent":
"The liquidity issue is a terribly urgent issue. It's common knowledge, let's not beat around the bush.Then why oh why has the Greek government squandered the last 100+ days since it was elected to office?
From the perspective [of timing], we are talking about the next couple of weeks."
The Germans have all but given up on Greece, and are now pushing for Greece to hold a referendum in the hope that Greece self exits from the eurozone.
Monday, May 11, 2015
Friday, May 08, 2015
Wednesday, May 06, 2015
As Greece blames everyone but themselves for the ongoing failure to implement reforms, Juncker now sees an evil Anglo Saxon plot to destroy the eurozone.Scheming Anglo-Saxon speculators are concocting plots against the euro, says an increasingly deranged @JunckerEU. http://t.co/2DGquO4WAW— Daniel Hannan (@DanHannanMEP) May 6, 2015
Those whom the gods wish to destroy, they first make mad. It seems that both Greece and the eurozone are heading for an almighty disaster, which they will blame on everyone but themselves.
Tuesday, May 05, 2015
"The IMF thinks the gap between the two realities is very large right now."The optimism espoused by Greece, and some participants of the ongoing talks, is clearly misplaced (no surprises there then!).