Tweets.......
2/17 Tweets....
Evening wrap......
German FinMin #Schäuble to @ZDF denies rumours from Athens: 'There are no credit agreements - it's an aid programme for #Greece.'
Open Europe retweeted
#Schäuble unequivocal : 'It's not about extending credit prog - but if or not current programme will be fulfilled. Yes or no.' #Greece
GERMAN FIN MIN SAYS DISCUSSION ABOUT GREECE IS NOT ABOUT LOAN AGREEMENTS, BUT ABOUT WHETHER IT CAN FULFILL ITS BAILOUT PROGRAMME - ZDF
'Just saying "we need more money and we won't do anything anymore", that won't work' ~Schäuble /via @tegesthemen #Greece
'We still haven't received a comprehensive answer how #Greece plans to solve its own problems' ~Schäuble /via @tagesthemen
BBG Reporting That Greek Banks Said To Need More Emergency Funds As Deposits Drop /via @livesquawk #Greece #ECB
Morning Tweets....
The bank run is accelerating: GREEK BANKS SAID TO NEED MORE EMERGENCY FUNDS AS DEPOSITS DROP. Tomorrow ECB decides whether to yank ELA
"Greek Democracy Can't Be Threatened" Defiant Tsipras Warns "Won't Step Back From Promises" http://www.zerohedge.com/news/2015-02-17/greek-democracy-cant-be-threatened-defiant-tsipras-warns-wont-step-back-promises …
Europe Ultimatum 2.0: SCHAEUBLE: GREEK PROGRAM EXTENSION BACKING NEEDED BY FEB. 27
Schauble Gives Athens Another 10-Day Ultimatum, Says "Up To Greek Government If It Wants To Keep Euro" http://www.zerohedge.com/news/2015-02-17/schauble-gives-athens-another-10-day-ultimatum-says-greek-government-if-it-wants-kee …
BBG Reporting That Greek Banks Said To Need More Emergency Funds As Deposits Drop /via @livesquawk #Greece #ECB
We can now declare a deal with the Eurogroup as DOA.
Tsipras announces first bill of unilaterally reversing bailout programme with bill to block selling of NPLs by banks to distressed funds
#Greece's Tsipras: Shortly we will freeze labour sector deregulation. Thursday morning we start implementing social policy. (MNI)
Schäuble: On the 28th the programme will be over, nothing can happen without an agreement even if it takes place on the 27th
#Germany's FinMin Schäuble says Greek situation isn't getting better. Says doubts have grown as to what #Greece wants.
SCHAUEBLE: UP TO GREEK GOVT TO DECIDE IF IT WANTS TO KEEP EURO
#Greece is now running a cash deficit. -€217ml in Jan 15 vs +€603ml in Jan 14 ~Bank of Greece
#Euro trades above $1.14 as Greek bonds pare earlier loses.
#Spain's Guindos says no ultimatum for #Greece, but there are rules. Says ball is in #Greece's court.
Open Europe retweeted
* Eu's Moscovici denies EU divisions on Greece, says athens must request bailout extension - RTRS
Moscovici says he "contributed ideas", not presenting his draft as an alternative to #Eurogroup one. Not clear it was ever really an option.
Open Europe retweeted
Belgian Fin Min suggests France almost broke #eurogroup ranks:"France left some openings but then agreed w consensus" http://deredactie.be/cm/vrtnieuws/economie/1.2242128 …
Greece, Its International Creditors and the Euro: his is an excellent background piece on how Greece got where... http://bit.ly/1yPW6aR
#Eurogroup's Dijsselbloem says he hopes #Greece will ask for extension. Says 'it really is up to the Greeks.'
Luxembourg FinMin: We can't remain in a blockade on #Greece, so everybody has to move a bit; says program has flexibilities that can be used
Austrian FinMin Schelling tells German radio that for a deal with #Greece, Athens will have to shift its position ~RTRS
Sticking point between Greece + creditors now seems to be former is prepared to "extend" programme but not "implement" or "complete" it
'Greek parallel currency would have devastating consequences'. @Hugodixon's letter to FT responding to Münchau: http://on.ft.com/1MsRhOZ
Markets remarkably sanguine after Greek talks collapse. Peripheral spreads incl #Greece's shrink.
2/16/15.......
Varoufakis Charges Eurogroup with Bad Faith Dealing in Negotiations: Yanis Varoufakis describes how he was pre... http://bit.ly/1yNnBBX
You must watch the press conference with Yanis Varoufakis. In the nicest possible manner considering the circumstances, he describes how he was presented with a memorandum prior to the Eurogroup meeting that he found acceptable and was presented with a different and unacceptable memo, at Eurogroup head Jeroen Dijsselbloem’s instigation, at the top of the session. I don’t see Varoufakis as insinuated what Mason attributes to him, but it is certainly a logical inference that the Germans were behind this stunt.
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Eurogroup Talks Terminated; Greece “Won’t Take Orders on Bailout”: As we indicated, we were doubtful that a de... http://bit.ly/17I7xvT
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Now we get to see what the Troika’s Plan B is now that Greece has demonstrated its resolve.
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Recap from Monday's frantic EuroGroup session.........
Tweets - after EuroGroup....
Albert Broomhead retweeted
₯ ZeroCool
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 @EU_Commission earlier today says @yanisvaroufakis
#Greece's Varoufakis: Greece will 'meet halfway' within 2 days. Expects 'good' deal w/ Eurozone this week.
#Greece's Varoufakis: Greece wants 'honorable settlement.' Says Greece isn't bluffing, has no plan B.
#Greece's Varoufakis: Greece 'ready' to do whatever it takes But Didn't Want VAT Hikes, Or Low-Income Pension Cuts In Coming Months.
#Greece's Varoufakis: Dijsselbloem withdrew Moscovici's draft text. Greece wants more than cosmetic changes to rescue.
#Greece's Varoufakis says Greece was 'happy' w/ draft text from Moscovici. Says Moscovici text foresaw 4mth transition phase.
#Eurogroup's Dijsselbloem says Greeks are reliable But also difficult. Greeks lose program protection if no deal in Feb
#EU Leaders "Are Afraid The #Syriza 'Virus' Will Spread Across Europe." http://www.zerohedge.com/news/2015-02-16/eu-leaders-are-afraid-syriza-virus-will-spread-across-europe …
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" #Greece #Eurogroup
RT @OpenEurope Another common trend emerging - #Greece presenting diff version of meeting to everyone else http://openeurope.org.uk/blog/eurogroup-negotiations-greece-descend-farce/ …
No #eurozone official I talked to can figure out why @pierremoscovici draft ok to #Greece but not other one. They say no diff on substance
@SpiegelPeter The #ECB will have no choice but to stop ELA very soon. #Eurogroup then to impose capital controls.
I've been told #Eurogroup broke up even before finance ministers got a chance to discuss draft #Greece statement
#Greek govt says text presented at #eurogroup was a reversal of agreement @atsipras & @J_Dijsselbloem made last Thursday.
Where we left off Wed MT @YanniKouts #Greece govt: #Eurogroup discussed 'unreasonable', 'unacceptable' draft insisting on extending bailout
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@lorcanrk has the state of play RT @markets: EUROGROUP TO GREECE: Your Move http://www.bloomberg.com/news/articles/2015-02-16/eurogroup-to-greece-your-move
Hans-Werner Sinn: Impose capital controls in Greece or repeat the mistake of Cyprus http://ow.ly/J9htV
Edward Harrison retweeted
Varoufakis clearly considers Djisselbloem messenger boy, and this attack on him is subtextual attack on German duplicity
Edward Harrison retweeted
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”
Eurogroup Talks Terminated; Greece “Won’t Take Orders on Bailout” - @yvessmith http://www.nakedcapitalism.com/2015/02/eurogroup-talks-terminated-greece-wont-take-orders-bailout.html …
Seems like we're at an impasse. @J_Dijsselbloem 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, @J_Dijsselbloem
Edward Harrison retweeted
Greeks "have to make up their mind if they want an extension of the current programme" says @J_Dijsselbloem. 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
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