Greek budget controlled by the Germans

[bimetalaupt]

What more can .. this would look like a good week to own bonds.. Greece in in hot water and will and can not meet the financial needs for the loans from the ECB or can not or will not work with the banker that bought their bonds...esp ECB!!! whom said they are not going to take a hair cut.(FULL STOP)..

Stocks CoulD take back everything they gained this weeks.. Yes the Black Swans are flying in formation and have Greece to land on..!!!!!

BiMetalAuPt
THIS MAKES IT OFFICAL..
ATHENS (Reuters) - Prime Minister Lucas Papademos sought backing on Sunday from leading Greek party leaders for painful and unpopular reforms that the near-bankrupt country must negotiate now that a long-awaited debt relief deal seems almost secured.
Attention is shifting to negotiations with Greece's international lenders who want proof that the Papademos coalition will take action on reforms before they hand over funds from a 130 billion euro bailout.
Greece needs the money to avoid a chaotic default when big bond redemptions fall due in March. However, in a sign that the talks will be tough, German Economy Minister Philipp Roesler openly called for Athens to surrender control of its budget policy to outside institutions if it cannot implement the reforms required under the euro zone rescue package.
Such suggestions have raised hackles in Greece and Papademos made clear how hard the talks with its lenders, the IMF and European Union, would be.
"The negotiations are not easy," he said in a statement after meeting the heads of the three parties in

[bimetalaupt]

thing keep getting worst or the reports to the press are getting real!! Merkel has lived in an fantasy world of Ludwig II Castle for years..a Microbiological thing or is that Bio-chemist.. Better living through "Chemistry"...BTI
Greek Debt Talks Risk Derailing EU Summit Plan
www.bloomberg.com/news/2012-01-29/greek-debt-talks-risk-derailing-eu-summit-progress-on-crisis-fighting-plan.html
European Union leaders gather for their first summit of 2012 as a deteriorating economy and struggle to complete a Greek debt writeoff risk sidetracking efforts to stamp out the financial crisis.
EU chiefs arrive in Brussels about 2 p.m. today to put the finishing touches on a German-led deficit-control treaty and endorse the statutes of a 500 billion-euro ($661 billion) rescue fund to be set up this year. Greece and its private creditors said Jan. 28 they expect to complete a deal in coming days after bondholders signaled they would accept European government demands for a bigger cut in their debt holdings.
Efforts to hold the 17-nation euro area together with bolstered fiscal rules and a stronger firewall are colliding with stalled progress in Greece, where the crisis began in 2009. To prevent a financial collapse, Greek bondholders have been pushed to cede more ground after agreeing in October to take a 50 percent cut in the face value of more than 200 billion euros ($263 billion) of debt.
“The fact we’re still at the beginning of 2012 talking about Greece is a sign this problem hasn’t been dealt with,” U.K. Chancellor of the Exchequer George Osborne said at the World Economic Forum in Davos, Switzerland.

[Driftr]

Portugal (and their 15% 10 year yield) eagerly watching what kind of discount Greece gets. This isn't gonna end well.

[Value Buy]

Greece is becoming a joke on the economic front. We have had headlines for months that they are on the "brink of a settlement", and yet it never comes.
The markets jump and fall every week on speculation.
Germany will not accept anything less than some control over Greece spending and Greece refuses to accept this.
Until this is settled, nothing will come of the markets, but then it is on, to Porugal, Spain, and Italy.
Such fun......

[ModE98]

You are correct, "It ain't over, 'til it's over." Believe this will overhang the markets all year, maybe next.

[thyme4change]

Greece is like a pubescent child that has been left alone to misbehave and set fire to things.

[bimetalaupt]

Well it is going to be 70%.. From 21% last Feb to 70% today..Well they every get the 30% reduced rates...ECB did not participate in the bond as they are not Private.. Here is the problem two class of bond holders treated unequal.. Bets are not there will not be enough money to pay the 30% and the Greek will not want to work hard and stop working..... This is like a crew cut.. Scalping!!! The investors!!!!
Just a thought,
BiMetalAuPt

[bimetalaupt]

Jan 31, 2012 15:49:03 GMT -5 bimetalaupt said:

Well it is going to be 70%.. From 21% last Feb to 70% today..Well they every get the 30% reduced rates...ECB did not participate in the bond as they are not Private.. Here is the problem two class of bond holders treated unequal.. Bets are not there will not be enough money to pay the 30% and the Greek will not want to work hard and stop working..... This is like a crew cut.. Scalping!!! The investors!!!!
Just a thought,
BiMetalAuPt

MMXIII GOLD HAS GIVEN A HUGE INCREASE IN RISK FACTORS (ALL FIVE PIIGS ) SO THE BLACK SWAN FACTOR HAS GROWN OVER THE LAST TWO DAYS... YOU MAY USE YOUR FACE BOOK OR YAHOO TO SIGN ONTO SUPER FED WATCH.. SORRY I AM NOT ALLOWED TO POST MY OWN OUTPUTS...

JUST A THOUGHT,
BiMetalAuPt

[Aman A.K.A. Ahamburger]

It's probably going to be bad for Greece. JMO, they have been insulating the EU from Greece for the last while, that is why it's still in the news. They keep running "stress tests" behind closed doors, and they are waiting until their tests show up the way they want.

It has gone on forever, as mentioned above, however, what is never reported are things like; Croatia just joined the EU.. Iceland wants in, Russia is issuing Euro bonds, Turkey wants in, Middle east countries are issuing Euro bonds, all these things going on in the background means to me that it's a shuffle, out with the old lazy ones, and in with GDP producing countries.

[Aman A.K.A. Ahamburger]

Just a note from FED watch, we were talking about this over there Bruce...

Jan 17, 2012 0:26:26 GMT -5 Aman A.K.A. Ahamburger said:

So the EFSF rating is AA+. Since Germany, the True Finns, and three others are left with their AAA and S&P said that the EFSF could get its triple "A" back with more guarantees. It leaves the EFSF and EMS open to be governed by AAA countries. This gives the Euro zone countries incentive to get their house in order, and it gives people like the True Finns more reason to back the EU. Now the other countries have to run their books like the Finns and Germany if the want a say at how fiscal order in the EU is set up..

I read this last night and thought that it was very interesting to say the least.

Greece Seeking Second Rescue Faces Battle to Stay in Euro
www.bloomberg.com/news/2012-02-02/greece-seen-as-struggle-even-after-2nd-rescue.html

Meantime, the finance ministers of the AAA-rated euro countries -- Germany, Luxembourg, the Netherlands and Finland -- are set to meet today in Berlin to discuss options.

[bimetalaupt]

Feb 3, 2012 22:44:43 GMT -5 Aman A.K.A. Ahamburger said:

Just a note from FED watch, we were talking about this over there Bruce...

Jan 17, 2012 0:26:26 GMT -5 Aman A.K.A. Ahamburger said:

So the EFSF rating is AA+. Since Germany, the True Finns, and three others are left with their AAA and S&P said that the EFSF could get its triple "A" back with more guarantees. It leaves the EFSF and EMS open to be governed by AAA countries. This gives the Euro zone countries incentive to get their house in order, and it gives people like the True Finns more reason to back the EU. Now the other countries have to run their books like the Finns and Germany if the want a say at how fiscal order in the EU is set up..

I read this last night and thought that it was very interesting to say the least.

Greece Seeking Second Rescue Faces Battle to Stay in Euro
www.bloomberg.com/news/2012-02-02/greece-seen-as-struggle-even-after-2nd-rescue.html

Meantime, the finance ministers of the AAA-rated euro countries -- Germany, Luxembourg, the Netherlands and Finland -- are set to meet today in Berlin to discuss options.

I know Luxembourg want nother to do with Greek Bonds.. There banks hold very few and had taken loses with Dexia Bank and the Federal Government wants nothing to do with the cause of Dexia's demise.

Just a word from Luxembourg,
BiMetalAuPt

[Aman A.K.A. Ahamburger]

Nobody wants to touch Greece, the question remains, what happens to Greece? If the rest of the PIIS starts to grow because they look at Greece and say not us, do the greedy Greeks actually get back to work?