Zerohedge: Dijsselbloem Pours Cold Water On Greek Compromise: “Don’t Get Your Hopes Up”

http://www.zerohedge.com/news/2015-02-12/dijsselbloem-pours-cold-water-greek-compromise-dont-get-your-hopes

02/12/2015 16:59 -0500

Just over an hour ago, what appears to have been a strawman now was issued by Bloomberg via leaked sources from Greek and German officials that proclaimed talk of a “compromise” deal that makes everyone happy in Europe. However, as the leaders exited today’s summit, the tone of their responses did not exactly sound compromise-prone:

  • *DIJSSELBLOEM SAYS GREECE PROCESS GOING TO BE V. DIFFICULT, “DON’T GET YOUR HOPES UP YET” ON GREECE
  • *MERKEL URGES GREECE TO MAKE UP ITS MIND SOON ON FINANCING

Hardly the resoundingly positive spin we saw earlier. Poland’s Tusk, Finland’s Stubb, and good old Juncker also chimed in with the latter commenting on Greece’s “anti-social” behavior. Tsipras made some neutral statements, then came out swinging, “The MoU as we knew it is over. The same goes for the troika. All these years, the burden fell on the poorest. Our aim is to restore the sense of justice.”

Juncker

“We have heard that the Greek government wants to cancel some measures ‘cos they are antisocial. Indeed, they may be antisocial.”

Eurogroup

  • *DIJSSELBLOEM SAYS `DON’T GET YOUR HOPES UP YET’ ON GREECE
  • *DIJSSELBLOEM SAYS `VERY CAUTIOUS’ ON GREECE
  • *DIJSSELBLOEM SAYS GREECE PROCESS GOING TO TAKE TIME
  • *DIJSSELBLOEM SAYS GREECE PROCESS GOING TO BE V. DIFFICULT

“I’m very cautious on the political side, it’s going to be very difficult and it’s going to take time and don’t get your hopes up yet.

“The technical assessment will be a comparison to see what the common ground is between the current program and the political program of the new Greek government. The Greek minister has said before that he thinks 70 percent of the current program he could take for his responsibility. So we could look at the 70 percent, we could also look at the 30 percent; what has to come out, what could be put in place and these have to of course be valid measures and that’s the kind of work we’re going to do this weekend and maybe we can make some political progress again on Monday.”

Germany

  • *MERKEL SAYS TSIPRAS MADE GENERAL STATEMENT ON GREECE GOALS
  • *MERKEL URGES GREECE TO MAKE UP ITS MIND SOON ON FINANCING

Finland

  • *STUBB SAYS CONVERSATION ON GREECE WAS `VERY GOOD’
  • *STUBB SEES GREECE PROPOSAL BY MONDAY

“We had a very good conversation and discussion about a possible avenue and path forward and I am sure that they will be working on some kind of a program with the institutions over the coming days and put forward the proposals on Monday”

Poland

  • *TUSK SAYS EU LEADERS DIDN’T ENTER INTO NEGOTIATIONS ON GREECE

*  *  *

Then Tsipras spoke:

  • *TSIPRAS SAYS DIJSSELBLOEM STATEMENT IS POSITIVE STEP FOR GREECE
  • *TSIPRAS: EUROGROUP TO DISCUSS MONDAY TRANSITION TO NEW PROGRAM
  • *TSIPRAS SAYS GREEK DEBT PROBLEM NEEDS TO BE TACKLED
  • *TSIPRAS VOWS TO TACKLE VESTED INTERESTS IN GREECE
  • *TSIPRAS SAYS NO ONE WANTS TO CREATE RIFT WITHIN THE EURO AREA
  • *TSIPRAS SAYS GREECE IS `SPECIAL CASE’ AMONG BAILOUT COUNTRIES

“The MoU as we knew it is over. The same goes for the troika.”

“All these years, the burden fell on the poorest. Our aim is to restore the sense of justice.”

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5 Responses to Zerohedge: Dijsselbloem Pours Cold Water On Greek Compromise: “Don’t Get Your Hopes Up”

  1. Hegelian says:

    I don’t know what the problem is? The money Greece used up was made from fiction. Out of thin air the Euro printed some fiat currency. Since Greece is a member of the EU somebody else (Germany) printed Greece’s money on their machines. The Germans did not print enough to pay the interest just the principle. So the bought and sold politicians of Greece accepted this money after which they say it didn’t stimulate our economy, because it is a shell game; did they even get the money? Greece needs to claim its money back——LEGESLATE IT INTO EXISTANCE——-Print it for themselves at 0% interest. Invest in infrastructure upgrades and new projects, and then, put it on the market at a rate so they get a whole flux of tourists and investors and “rock on” to the New Millennium. Tax the people,Churches and the corporations at a flat rate on the value of their land and holdings at a flat rate. Shrink the government and make them work. Don’t let them travel abroad in country business without an invitation and a legitament reason to go. No Trade missions. Work from a power position with their own currency.

  2. Ken Harris says:

    I give it three weeks, Four max, and Greece is out of the EU, and sipping Ouzo with Vodka chasers with Putin.

    • Trex says:

      I don’t know Ken – the EU (/US) really cant afford to lose Greece as it then becomes the first EU domino to fall, which could invite many more to follow, and soon. So what we’re seeing here is a very touchy game of bluff. Either the EU compromises big time, or the dominoes start to fall. Greece is tiny and their GDP is tiny. They likely cant even justify paying the interest on their loans. A couple olives and figs don’t add up much GDP. This is stuffing the EU into a corner they cant afford to be in either. Right now, it looks like Merkel is 99% of the EU as a lot of countries have already made noises of leaving the EU, Germany included! So if they want the EU sacrificial lamb to survive, then they cant afford even one loose cannon to jump ship to BRICS. If Greece jumps off the bandwagon, then it likely won’t be long for others to follow and the EU / NATO will be for the history books. In that case the Moscow party will include half of Europe, and the good ol USA will be isolated and alone. My bet is the Euro printing presses will go into hyper-overdrive before they let Greece go. One thing the whole hoopla over little itty bitty Greece tell us, is that the whole EU is on EXTREMELY shakey legs. Otherwise there would be no reason for this much excitement.

      • Ken Harris says:

        Trex, I hope you understand that the people of Greece know the Troika money received by the previous Greek governments went into bailing out the Greek Banks, much the same way the US bailed out the TBTF banks here. Just as most of those funds ended up in private hands, the same applies to Greece. The people are tired of paying through the nose for someone else’s debt, and Tsipras got into office with the intent to end the programs implemented at the insistence of the IMF and the rest of the troika. The EU and ECB have to bend to Greece’ desires and write off some if not all of the debt or Greece bolts from the EU. Greece has offers from Russia and China for loans, as well as the Turkish Stream Gas line coming to their door step (something that will give Greece millions in transit fees) , and assurances from Russia to buy their produce should they leave the EU. All the EU offers is more financial oppression, something that is not tolerable to the people.

        Granted, anything the EU does with respect to Greece is a losing proposition, be it an exit or debt relief. Of course the decision is going to be based on the lesser of consequences. The other EU members caught up in similar circumstances will not stand idly by as Greece acts or gets its way, they will demand the same preferences or perform the same actions.

        My take on all the negotiations is that it is merely smoke, so Greece can say in all conscience that they tried to work with the EU, before they pull the EU plug. The entire EU house of cards is about to fall, and when the dust clears, the only ones left standing will be those affiliated with Russia, China, and the rest of the BRICS nations, with a monetary system backed by gold.

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