JUL 11 SIT EC y POL
ZERO HEDGE
Eurogroup
Meeting Ends Without Agreement: "Huge Problems", "Issue Of Greek
Trust Very Difficult". Submitted by Tyler
Durden on 07/11/2015
Equity markets roared higher Thursday and Friday as they
'knew' a deal was imminent in Greece because Tsipras appeared to backpedal.
However, after someone
told Merkel the truth, and "everyone
knows you can't believe" the Greeks, The Eurorgoup Meeting ends
with zero agreement after 9 hours of rumor-mongering and escalating tensions.
Local reporters noted the leaders could not even agree on what to
disagree about as an increasing number of EU
member states pushed for either a Grexit or considerably
tougher sanctions austerity on the Greeks. There is no press conference and
the meeting will resume tomorrow at 11am... shortly before FX markets
open.
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Yes, Tsipras’ offer is "missing" important
reforms, but more importantly, it seemed also to be "missing" the
small detail that in addition to the €53 billion the country needs for a third
sovereign bailout, Greece will also need another €10-20 billion to recapitalize
the banks, something we warned about (and outlined in quite a bit of detail) on
Friday in "Don't
Tell Merkel: Greek Banks Need An Additional €10-14 Billion Bailout."
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Schauble
Proposes "5 Year Grexit With Humanitarian Support". S- by Tyler
Durden on 07/11/2015
Here is the punchline from Greek nemesis #1, Schauble: SCHAEUBLE
PROPOSES TIME-LIMITED `GREXIT': FAZ; SCHAEUBLE SUGGESTS 5-YR GREXIT, HUMANITARIAN
SUPPORT: FAZ
In other words, Germany just said kick Greece out,
conditionally, for 5 years (it is not quite clear what Greece would use for
currency in the meantime), quarantine it, and treat it as a third-world country
until 2020. Somehow we doubt global stocks expected this outcome when they
soared on Friday...
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"There
Is Going To Be A Taper Tantrum In Latin America... It Is Inescapable".
Submitted by Tyler Durden on 07/11/2015
Greece needs a bailout and China's stock market is in
meltdown mode. But the global economy has another rising red flag: Latin
America.
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When Money Dies.
Submitted by Tyler Durden on 07/11/2015
“When Money Dies” is the title of a 1975 book by Adam
Fergusson, in which he describes the downfall of the Reichsmark in Weimar
Germany. A fascinating look at that period of history, one can glean quite
a few useful pieces of advice on how to survive a currency crisis. But “when
money dies” could also describe the current currency crisis in Greece, in which
many Greeks seem to have taken those lessons from Fergusson’s account of the
Weimar hyperinflation to heart.
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Finland
Echoes Germany, Wants Greece Out; Five Other Nations Back Grexit. Submitted
by Tyler Durden on 07/11/2015
Initially it was just an unconfirmed rumor circulating in
the German FAS media that the local FinMin had proposed a "temporary
Grexit" option. It now appears that this was not only not a rumor, but
Schauble's sentiment is contagious: moments ago Finnish broadcaster MTV
reported that first Finland, and then the Eurozone's smaller, if somewhat more
solvent nations, Estonia, Lithuania, Slovakia, Slovenia and even the
Netherlands, support the German position on temporarily suspending Greece' Euro
membership.
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Grexit
Will Establish Berlin As The New Geopolitical Player To Reckon With. Submitted
by Tyler Durden on 07/11/2015
A Greek exit will be evidence that the US and IMF
influence on Berlin is waning, and will establish Berlin as the new
geopolitical player to reckon with.
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Troika
Says Greek Proposal Not Enough To Meet Targets, Serves As "Basis For
Negotiations". Submitted by Tyler
Durden on 07/11/2015
Tsipras betrayed the public trust last night when we rammed
through a draft proposal for a Third Greek bailout, one which would push
total Greek Debt/GDP over 200%, which the Greek population overwhelming
rejected in a democratic vote last weekend. And now, it is up to Europe to
decide if it will trust the Greek government, which clearly has no problem
lying to anyone, to implement reforms which Greece has been unable to effect
for over 5 years.
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GLOBAL RESEARCH
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The
US Dollar and Bretton Woods are Finished: The BRICS/SCO Summits in Ufa Mark the
Start of a “Silk World Order” By
Mahdi Darius Nazemroaya,
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RT, SPUTNIK & LATEST SHOWS
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NOTICIAS EN ESPAÑOL
Europa. Cinco destacados
economistas advierten a la canciller alemana. “La historia la recordará por sus acciones de
esta semana, la austeridad ha fracasado”
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