Monday, February 16, 2015

Greece Updates - FM Varoufakis declares Greece Not Bluffing ( February 16 , 2015 ) - As EuroGroup commences , doubts reign supreme for a deal - associated news and view touching on Greece and debt talks ongoing ..... News from around Europe !


Check the Tweet feed for far more detail and updates after posting !

The Numbers that every one cares about shows that the memorandum dont didn't and wont work

Tweets - after EuroGroup....

Greek side waiting for an EU proposal similar to the one he got from earlier today says

's Varoufakis: Greece will 'meet halfway' within 2 days. Expects 'good' deal w/ Eurozone this week.

's Varoufakis: Greece wants 'honorable settlement.' Says Greece isn't bluffing, has no plan B.

's Varoufakis: Greece 'ready' to do whatever it takes But Didn't Want VAT Hikes, Or Low-Income Pension Cuts In Coming Months.

's Varoufakis: Dijsselbloem withdrew Moscovici's draft text. Greece wants more than cosmetic changes to rescue.

's Varoufakis says Greece was 'happy' w/ draft text from Moscovici. Says Moscovici text foresaw 4mth transition phase.

's Dijsselbloem says Greeks are reliable But also difficult. Greeks lose program protection if no deal in Feb

Greek Govt Official Says No Agreement Possible at Eurogroup, BBG reports.

Varoufakis: "Our difficulty is to convince our partners that Europe must cut losses with a program that is not working"

RT Another common trend emerging - presenting diff version of meeting to everyone else

No official I talked to can figure out why draft ok to but not other one. They say no diff on substance

The will have no choice but to stop ELA very soon. then to impose capital controls.

I've been told broke up even before finance ministers got a chance to discuss draft statement

EU official says is now over after leak of draft text and strong objections.

govt says text presented at was a reversal of agreement & made last Thursday.

Where we left off Wed MT govt: discussed 'unreasonable', 'unacceptable' draft insisting on extending bailout

Hans-Werner Sinn: Impose capital controls in Greece or repeat the mistake of Cyprus

Varoufakis clearly considers Djisselbloem messenger boy, and this attack on him is subtextual attack on German duplicity

Varoufakis: the splendid document I was prepared to sign was withdrawn by Djisselbloem and replaced with another document

Here is the full leaked draft eurogroup communique. Greeks have just rejected it as “totally unacceptable”

Seems like we're at an impasse. says take the extension. Greece says no. This isn't going to work

Extension of MOU is only offer. Greece must take it or leave it. This week and that's it,

Greeks "have to make up their mind if they want an extension of the current programme" says . Thought Greeks said no already?

Talks proceeding poorly? “The insistence of some circles that the new government enforce the memorandum is absurd and unacceptable” - Greece


Pre - EuroGroup

Acc 2 sources, meeting between Varoufakis-Dijsselbloem lasted only 15 minutes, indicative of the mood...

Schäuble: I am very sceptical about an agreement with . If the Greek gov't does not want a programme, then it's alright with us.

Robert Parenteau: Get a TAN, Yanis: A Timely Alternative Financing Instrument for Greece: TAN, or tax anticipa...

In a NYT op-ed. Greek FinMin Varoufakis says is not bluffing in talks and will not cross lines it has drawn:

I don’t expect anything decisive out of Eurogroup meeting; Greeks pushing for any deal to go to EC ?20 Aug - i.e. to be political (1/2)...

(2/2) but it’s getting under way so watch this space!

| Following 's latest tweets, seems Finnish parl is not closing for elex on Friday → Greek issue cld drag on into next wk.


Marc poll: 81.5% of support the government's standoff with its creditors

France hints euro zone should ease stance for Greek deal

Greece confronts euro-area skepticism as end of bailout looms

Greek gov't spokesman: 'I could also say Germany's behavior is irresponsible'

Tsipras confident of deal as new Eurogroup meeting looms

Certain Eurogroup Ministers are irritated bcause Varoufakis 'lectures' Eurogroup Mins as if they were college students ~

Certain Eurogroup Ministers are irritated bcause Varoufakis 'lectures' Eurogroup Mins as if they were college students ~

Schäuble interview is shocking, almost fatalistic. "I pitty the Greeks. They have voted for a Gov't that behaves rather irresponsibly".

Schäuble "very sceptical" about Greek debt talks; Athens behaving "quite irresponsibly"

'Greek negotiators seem to be living on a different planet' /via

Greek yields move higher ahead of Eurogroup talks. 's 2yr yields up 190bps at 17.31%, 3yr yields now at 18.1%.

's banks get hammered ahead of talks. FTSE Banking index down 8%.

's Schäuble says "very sceptical" about debt talks with .

Bundesbank urges Greek banks not to buy short-term state debt via

Much of Eurozone less confident on a deal than Greece at today’s crucial Eurogroup meeting:

Elsewhere in Europe .....

Can Mario Draghi meet his QE target when sovereign bond issuance is falling?

Eurozone trade surplus soars to record in December. Total for 2014 is almost €200bn.

Russia's Minsk 2 cease-fire rally extended. Rouble at one-month high.