Submitted by Tyler Durden on 02/20/2015 – 15:12
Just out from theEurogroup, the final statement. Bottom line: Greece caves on pretty much everything, however it has two semantics successes: the dreaded “Troika” words has been replaced with “institutions” and “Current programme” has been changed to “Current arrangement” – surely nobody will notice. Sarcasm aside, Greece has just kicked the can for four months. Why four months? Because that’s just ahead of the big Greek debt maturity.
Shots Fired: Schauble Says “Greeks Certainly Will Have A Difficult Time To Explain The Deal To Their Voters”
Submitted by Tyler Durden on 02/20/2015 – 15:53
Did anyone honestly not thing the German finance minister would not have the final word?
GERMAN FINMIN SCHAEUBLE SAYS AS LONG AS THE PROGRAMME FOR GREECE ISN’T SUCCESSFULLY CONCLUDED THERE WILL BE NO PAYOUT
GERMAN FINMIN SCHAEUBLE SAYS ‘THE GREEKS CERTAINLY WILL HAVE A DIFFICULT TIME TO EXPLAIN THE DEAL TO THEIR VOTERS’
Submitted by Tyler Durden on 02/20/2015 – 15:40
Greek Finance Minister Yanis Varoufakis is holding a press conference to explain the decisions that led up to what by appearance seems to be a Greek fold…
VAROUFAKIS SAYS GREECE STOOD TALL DURING EUROGROUP TALKS
Submitted by Tyler Durden on 02/20/2015 – 15:20
Why 4 and not 6 months? Simple: so that the humiliation of the Syriza government can continue with yet another bailout, aka “current programme”, aka Memorandum extension request just ahead of the biggest debt maturity for the remainder of 2015.