Jun 27

Dijsselbloem Says Greek “Program” Will Expire On Tuesday Night, Offer Won’t Exist At Referendum Time (ZeroHedge, June 27, 2015):

And just like that, “game theory” has become “over theory”:

  • DIJSSELBLOEM SAYS REST OF EUROGROUP REGRETS GREEK REJECTION
  • DIJSSELBLOEM SAYS `GREAT CONCERNS WITH CREDIBILITY’ OF GREECE
  • DIJSSELBLOEM SAYS REST OF EUROGROUP REGRETS GREEK REJECTION
  • DIJSSELBLOEM: SITUATION IN GREECE WILL DETERIOATE IN BETWEEN

The punchline, which as we hinted earlier, is the biggest problem with the Greek referendum – there will be no deal to vote on since the program will expireon Tuesday night, which means the offer will be pulled.

  • DIJSSELBLOEM: THE PROGRAM WILL EXPIRE ON TUESDAY NIGHT

So just what will the Greeks vote on next Sunday if the proposal is no longer on the table? Some reporters asked precisely this, i.e., what can the Greek people do to stay in the Eurozone, to which Dijsselbloem had no clear answer, saying that he speaks “with regret” but the risks “will be there” adding that one should ask the Greek Government what the point of holding a referendum is.

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