zDenniger: No, It's Not A Done Deal (Greece)

[CrackSmokeRepublican]

No, It's Not A Done Deal (Greece)

Despite the crooning from Bloomberg:

    May 3 (Bloomberg) -- Euro-region ministers agreed to a 110 billion-euro ($146 billion) rescue package for Greece to prevent a default and stop the worst crisis in the currency's 11-year history from spreading through the rest of the bloc.

The people who negotiated did not actually have authority:

    BERLIN -- Germany will examine closely an agreement between Greece, the European Union and the IMF on a bailout for debt-stricken Athens before deciding whether to contribute, Economy Minister Rainer Bruederle said on Sunday.

Sorry, but there's no deal yet.

There might be one, but as of today, there isn't one.

Despite what you're being told by every pump monkey in the media.

This now has to be voted upon by both cabinets and Parliaments in several nations, Germany included.

Some will have to sell more debt to fund this - and they're already over-levered.

Oh, and this does nothing about Spain and Portugal, which are next - while the cash pile that can be assembled for these sorts of things is already being raided.

Don't put on the party hats yet folks.  There are dozens of moving parts here and they ALL must lock into position where the needle points to "YES".

http://market-ticker.org/

[Ognir]

I've said it all along, the German people will NOT give the Greeks any money

So let's get this straight,  the Greeks are fucked because they have too much debt that they can't pay, yet they are going to get another $143 billion dollars of DEBT, insane

No they are not

This money is earmarked for the French & German banks

The whole thing is a giant scam

Not sure how much time we have left, but bankers need to be arrested and tried real soon

Maybe the Greeks can give us a few islands and we'll send the bankers there, harsh conditions of course, film them 24/7  :wave: