Germany says the UK is still welcome to change its mind on Brexit https://t.co/jO6XgGFVjr
— The Independent (@Independent) June 13, 2017
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Masonic signs of recognition:
Hand necktie/neck sign edition (sign of distress) …
(They are all making many other masonic hand signs as well, so this can NOT be seen as a coincidence.)
On the same day Matteo Renzi suffered a crushing defeat at the hands of alleged “populists” in Italy, German finance minister Wolfgang Schäuble ruled out debt relief for Greece ahead of a eurozone finance minister meeting.
- Why refugees are commiting far less crime (10 Jun 16)
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“Isolation is what would ruin us – it would lead us into incest,” the finance minister told Die Zeit, doing a good imitation of a doomsday preacher.
The comments were meant as a resolute defence of his government’s migration policies, against the hostile attitudes of many Germans towards the Muslim faith practised by many migrants who move to Germany.
“Muslims are an enrichment of our openness and our diversity,” he continued. “Look at the third generation of Turks, especially the women. That is an enormous innovation potential.”
With Deutsche Bank credit risk exploding and stock price collapsing to record lows, despite the CEO’s “rock solid” affirmations, there is only one way to know just how real a crisis this is… when government officials issue ‘denials’.
German Finance Minister Wolfgang Schaeuble says he isn’t worried about Deutsche Bank.
“No, I have no concerns about Deutsche Bank,” Schaeuble says
– Complete Humiliation: Greek Parliament Pressed To “Approve” German “Coup” (ZeroHedge, July 14, 2015):
Months ago we said the following about the future of Greek politics:
It is becoming increasingly clear that the Syriza show will ultimately have to be canceled in Greece (or at least recast) if the country intends to find a long-term solution that allows for stable relations with European creditors although it may be time for Greeks to ask themselves if binding their fate to Europe is in their best interests given that some EU officials seem to be perfectly fine with inflicting untold economic pain upon everyday Greeks if it means usurping the ‘radical leftists.’
At the risk of overstating the case, that assessment has now proven to be almost entirely accurate.
– Everything You Need to Know About the Greek Crisis and ECB Fascism in Two Paragraphs (Liberty Blitzkrieg, July 13, 2015):
Yanis Varoufakis just sat down for his first interview since resigning as Finance Minister of Greece. He talked frankly with Harry Lambert of the New Statesman. Here are the two most important paragraphs from the transcript.
There is no democracy in Europe. None.
Varoufakis said that Schäuble, Germany’s finance minister and the architect of the deals Greece signed in 2010 and 2012, was “consistent throughout”. “His view was ‘I’m not discussing the programme – this was accepted by the previous [Greek] government and we can’t possibly allow an election to change anything.
“So at that point I said ‘Well perhaps we should simply not hold elections anymore for indebted countries’, and there was no answer. The only interpretation I can give [of their view] is, ‘Yes, that would be a good idea, but it would be difficult. So you either sign on the dotted line or you are out.’”
– Schauble Proposes “5 Year Grexit With Humanitarian Support”; What The Other Eurozone FinMins Are Saying On Greece (ZeroHedge, July 11, 2015):
As we await the verdict on whether Greece will be in or out, here are the earlier comments from the Eurozone finance ministers and others attending the Eurogroup meeting, via Reuters:
GERMAN FINANCE MINISTER WOLFGANG SCHAEUBLE
- “We will have exceptionally difficult negotiations.”
- “The problem is that that there was a situation at the end of the year that was very hopeful, despite all the scepticism of previous years, and that this was destroyed in an incredible way in the last months and hours.
- “We are dealing with financing gaps which exceed everything we have dealt with in the past.”
- “We are talking about a completely new three-year programme.”
LUXEMBOURG FINANCE MINISTER PIERRE GRAMEGNA
- “We, as Luxembourg, because we hold the EU presidency right now, are definitely ready to discuss debt restructuring, finalising is another issue.”
– In Big Boost To “No” Vote, Schauble Hints Greece Can Default And Stay In Euro (ZeroHedge, June 30, 2015):
In waht appears to be some level of German backing down, fiery FinMin Schaeuble has, reportedly said the following:
*SCHAEUBLE SAID TO SAY GREECE MAY BE ABLE TO TAP EU SUPPORT FUND
*SCHAEUBLE SAID TO SEE GREECE STAYING IN EURO EVEN IF ‘NO’ VOTE
Thus spurring the probability of a consequence-less “no” vote on Sunday enabling the increased negotiating position that The Greek government had hoped for. Of course, desperate for any excuse, stocks and EUR are rallying on this and bonds are selling off.
Asked whether he would repeat an assurance he gave in late 2012 that Greece wouldn’t default, Wolfgang Schäuble told The Wall Street Journal and French daily Les Echos that “I would have to think very hard before repeating this in the current situation.” To which Moody’s had just one thing to add: “there is a high likelihood of an imposition of capital controls and a deposit freeze.”
– The Gloves Come Off: Moody’s Warns Of Greek “Deposit Freeze” As Schauble “Won’t Rule Out Default” (ZeroHedge, May 20, 2015):
Ever since Syriza took over the Greek government and has refused, at least until now, to concede to every Troika demand of perpetuating a status quo which it was elected with a mandate to overturn, Europe has done everything in its power to make not only Syriza’s life increasingly difficult and hostile, but has taken every opportunity to turn the Greek population against its rulers, in hopes that a more “moderate”, technocrat government would replace the “radical leftists.” So far it has failed, despite the best attempts by the ECB and the European Commission to sput a terminal bank run.
– German FinMin Schaeuble Sees “No Contagion” From Grexit, Don’t Show Him This Chart (ZeroHedge, April 15, 2015):
Because all that matters is what some elite says, we are sure the following propaganda from German FinMin Schaeuble will be regurgitated by the mainstream media:
- *SCHAEUBLE SAYS “YOU CAN’T SEE ANY CONTAGION”
However, if one actually looks at the data – European peripheral bond risk premia have soared in the last week as Grexit fears resurge.
– Germany Has Had It With Greece: Schauble Says “Doesn’t Know What To Do With Greece Now” (ZeroHedge, March 16, 2015):
In his fiercest rhetoric yet, Germany’s angry Finance Minister Wolfgang Schaeuble unloaded at a CDU event today:
- SCHAEUBLE SAYS DOESN’T KNOW WHAT TO DO WITH GREECE NOW
- SCHAEUBLE SAYS NEW GREEK GOVERNMENT HAS DESTROYED ALL THE TRUST THAT HAD BEEN REBUILT
He went on to explain that “no one I talk to sees how Greek approach can work,” which perhaps explains why Greek 3Y bond yields spiked back above 20% for the first time since the election today.
Some additional headlines:
– Germans Furious After Varoufakis/Tsipras Admit “Greece Will Never Repay Its Debts” (ZeroHedge, March 12, 2015):
The Greco-Germanic war of words continues… Having pissed off The Greeks with his “Troika” remarks, Germany’s Schaeuble went on today to more ad hominum attacks by reportedly calling the Greek FinMin “foolishly naive.” The Greek ambassador has ‘officially’ complained to “friend and ally” Germany about the personal insult. But The Greeks had the last laugh, as first Varoufakis and then Tsipras explained respectively that “Greece would never pay back its debts,” and “Greece cannot pretend its debt burden is sustainable.” The German response, via tabloid Bild, “there must be an end to this madness. Europe must not be made to look stupid.”
– Greece Folds (Again); Ready To Propose “New” Reforms Immediately (ZeroHedge, March 9, 2015):
Following earlier comments from various Eurogroup members – after yesterday’s dismissal of Greece’s proposed “reforms” – ranging from Slovakia’s “Greece needs to face the naked truth,” to Dijsselbloem’s “we seem to be losing time on Greece,” and Schaeuble’s “not a lot has happened on Greece,” it appears Greece has quickly folded once again and acquiesced to EU’s demands for harsher cuts. With cash unlikely to last more than 3 weeks and being unlikely to get the EU1.9bn in bond profits from the ECB (according to EU officials), Greek officials have stated that they are “willing to enrich” the list of reforms.
Some helpful comments as leaders arrived at today’s Eurogroup meeting:
– Why Germany Will Throw Up On The Greek “Reform Proposals”: Wage Hikes, Foreclosure Protection, “Red Lines” (ZeroHedge, Feb 23, 2015)
– 50 Shades of Greece (The Automatic Earth, Feb 22, 2015):
When it comes to the ongoing Greek question, I see a lot of people eagerly jump to conclusions, after the ‘debt deal’, that I don’t think are justified; certainly not yet. The overall conviction in the press seems to be that Syriza has given in on just about all fronts, and Germany and Dijsselbloem are the big winners.
But since that may well be the exact position Syriza wants ‘the other side’ to be in, where they think they have prevailed, one will have to try and think a few steps ahead before judging the situation. There’s far more grey area here than many pundits seem to assume, easily 50 shades of it.
– How Greece Folded To Germany: The Complete Breakdown (ZeroHedge, Feb 20, 2015):
Having, as we previously explained, been given ‘just enough rope’ by the Germans, we thought it worth looking at just what Greece capitulated on (or perhaps a shorter version – what they did not capitulate on) and how Tsipras and Varoufakis will sell this to their fellow politicians… and most of all people.
What points has Greece capitulated on?
1. Completion of the current review – Greece has basically agreed to conclude the current bailout. Any funding is conditional on such a process:
Only approval of the conclusion of the review of the extended arrangement by the institutions in turn will allow for any disbursement of the outstanding tranche of the current EFSF programme and the transfer of the 2014 SMP profits. Both are again subject to approval by the Eurogroup.
This is a clear capitulation for Greek Prime Minister Alexis Tsipras, who said the previous bailout was “dead” and the EU/IMF/ECB Troika is “over”.
– Schauble Gives Athens Another 10-Day Ultimatum, Says “Up To Greek Government If It Wants To Keep Euro” (ZeroHedge, Feb 17, 2015):
Those who thought yesterday’s trial balloon headline barrage would be bad, you ain’t seen nothing yet. It all started with Spain’s economy minister who knows if the Greek revolt gains traction his career will be cut short by a Podemos surge, said:
- THERE IS NO ULTIMATUM FOR GREECE
Which is ironic considering it was just back on February 6 when Eurogroup head DieselBoom explicitly gave Greece an ultimatum…
– No deal: Greece-EU bailout talks break down, Athens given 1 week ultimatum (RT, Feb 16, 2015):
The eurozone has given Greece an ultimatum of one week to request an extension of its bailout deal, as Athens turned down the offer dubbing it “absurd” and “unreasonable”. Greece’s finance minister said they were ready to sign – but something different.
But despite not reaching a deal, Greece Finance Minister Varoufakis insisted Athens is “ready and willing” to reach a deal and that he is confident of reaching one in 2 days, he said in statement after the talks.
“We were offering to refrain effectively from implementing our own program for a period of six months and all we were getting back was a nebulous promise of some flexibility that was never specified,” Varoufakis said.
From the article:
- SCHAEUBLE: MY PRESS SPOKESMAN ADVISED ME TO SAY “WE AGREED TO DISAGREE”
- VAROUFAKIS SAYS “WE DIDN’T EVEN AGREE TO DISAGREE”
– Schauble And Varoufakis Meeting Ends: “We Didn’t Even Agree To Disagree” (ZeroHedge, Feb 5, 2015):
Less than 24 hours after the ECB showed it would only play hardball from now on, there were some hopes that either the Greek position would soften or that Germany would indicate it may agree to at least a modest compromise to avoid the worst possible outcome.
Alas, as the following photo from the ongoing press conference between the finance ministers of Greece and Germany shows…
… it was not meant to be.