Wednesday, February 8, 2012

Evening Posting ! What Does Farce Descend into After Its Phase Has Come And Gone ?


History Repeats Itself , First As Tragedy , then as Farce ............And Then As Fricking  Greece ?

     Extending upon the classic  and oft quoted observation of Marx (from " The Eighteenth Brumaire ' ) , note the second "  then " and following  commentary on modern Greece. Further observation apropos from Karl M  include " Every giant...presupposes a dwarf , every genius a hidebound philistine ....The first are too great for this world, and so they are thrown out. But the latter strike root in it and remain.... Caesar the hero leaves behind him the play-acting Octavius, Emperor Napoleon the bourgeois king Louis Phillippe......( K.Marx - Scorpion and Felix ) .


     I'll let you choose who plays the giant versus dwarf , genius versus philistine ... without further ado , here's today's stirring confusion from Greece ! By the way , did you notice the commentary from Ireland today ? Finance Minister specifically put the ECB and EU on notice they want the same treatment as Greece - and the deal hasn't even been completed yet ! Lol How long before Spain , Italy and Portugal say me too ,  guys ? My thought - not long at all. Of course , assuming a deal is reached with the greek political party chiefs and L-Pap - and accepted by the Troika  , can it pass in Parliament ? I would say don't be sure of that , lots of rumblings go on there ( check the comments for related articles to come ! 



Greek Meeting Ends Without Conclusion: LAOS Head Refuses To Sign Deal

Tyler Durden's picture



Bloomberg reports that at almost 1 am local time, the Greek government meeting has broken up, and the head of LAOS is speaking, and by the looks of things, is not going along with the program:
  • KARATZAFERIS SAYS HE DID NOT HAVE ENOUGH TIME TO STUDY MEASURES
  • KARATZAFERIS SAYS HE NEEDS LEGAL ASSURANCES ON MEASURES
  • KARATZAFERIS SAYS HE MIGHT CONTINUE TO SUPPORT THE GOVERNMENT DESPITE NOT AGREEING TO DEAL
  • KARATZAFERIS SAYS HE MADE HIS POSITIONS CLEAR EARLY IN MEETING
  • KARATZAFERIS SAYS HE APPRECIATES THE PREMIER'S EFFORTS
  • KARATZAFERIS SUPPORTED ND LEADER ON ISSUE OF PENSIONS
Translation: no deal. And, dum dum dum, another headlines says that the Troika is now back in Papademos' office. The suspense builds.
In other rheotrical statements, got ink?
and also.....


Papademos Says Outstanding Issues Remain, EURUSD Slides

Tyler Durden's picture







Another day, another delay, and still nothing is done.
  • GREEK PREMIER SAYS OUTSTANDING ISSUE NEEDS FURTHER WORK
  • GREEK PREMIER SAYS DISCUSSION TO CONTINUE ON OUTSTANDING ISSUE
  • PAPDEMOS SAYS AIMS TO CONCLUDE LOAN TALKS AHEAD OF THURSDAY'S EUROGROUP MEETING
And on the off chance that Greece, gasp, does not actually get something done by the deadline, it means that at tomorrow's meeting the only topic of discussion will be the calorie content in the taxpayer funded pastries. In the meantime, some semblance of reality is creeping back into the EURUSD.