But Syrzia parliamentary spokesman Nikos Filis reiterated that the government would not sign an agreement that was incompatible with its anti-austerity program. "If we're talking about an ultimatum... which is not within the framework of the popular mandate, it is obvious that the government cannot co-sign and accept it," Mr Filis told Antenna TV.
since he is the only Prime Minister in the world (for just 4 short months) who wants Billion in free Euros while promising not to pay back Billion in Euros to all the lenders. Greece is a Huge Giant Vacuum that sucks up money so fast that the only thing that can keep up is spending the money it collect on the "cheap".
IMF won't play ball - so Greece has no other choice but to lick its wounds and leave Dodge. Greek government have alienated so many European countries and creditors that they will be left holding the bag and wondering why they didn't default years ago.
so do you really think the IMF and ECB will ever see their billions or Euros loaned to Greece ever get paid back. NOPE Greek Default in T-10 Days.
so let's see how the market digest that news tomorrow since the creditors who hold sway over Greece possible bail out - have seen nothing that would prevent a Greek Default in ten days or less.
In the German city of Dresden, where finance ministers of the Group of Seven economic powers were preparing to meet, Schaeuble said he did not share Athens' view. "We've been hearing a lot of positive news from Greece — and that's good — but in essence, the negotiations have not progressed much," he told Germany's ARD television.
Well looks like the Greek's were pumping hot air. IMF says reduce excessive pensions and increase taxes or default NOW.
Don't fight the Fed boys since Yellen said on Friday rate hikes are coming this year as gold drops below $1000 an ounce and keeps falling. JDST set to double over next few weeks, if not triple as the dollar goes wild and precious metals dive.
Many on the board think so. And if you throw in a Yellen rate hike in September Spy might just touch 100 come end of September/October. Talk about a one way ticket DOWN.
with claws and a rate hike planned for September. Stock market always looks six months out - so this is the reason why we are tanking today, will tank tomorrow and continue to fall going into September. Yes Yellen does look like a "Bird" but now she has her claws sharpen for continued rate hikes, one after the other.
Because the smell of a Greek Tragedy is growing stronger by the day if not the minute.
Who wants to be long this market when the 15% (haircut) correction hits? Not me
and just the thought of this Ugly Monster coming closer and closer will send the DOW to all time NEW LOWS,
Talk about a double punch to the gut. Bull heading to the glue factory never to be seen again this decade.
rather the IMF prefers for Greek back to go bankrupt the country to default and the the IMF is stuck will billions of Euros in debt then will never get back. But it better that way then lending more money to the Greeks who will spend it is weeks if not days on booze, food and early retirement. IMF calling the "shots" now and they want their IOU's BACK.
Oh My. The world is coming to an end and so is this 7 year bull run.
as world markets tank on news that Europe as we know it is crumbling.
Earlier today, the energy minister Panagiotis Lafazanis who heads Syriza’s hardline faction, the Left Platform, told parliament that the governing party could not endorse anything that ran counter to its pre-election program. Releasing a copy of the speech he will give before the central committee, the increasingly vociferous Syriza MP, Yannis Micheloyiannakis, let it be known that he, too, will not condone concessions that go against the spirit of the leftwing party. “This is what we were elected on and with this we will struggle and we will win,” he will tell his comrades. “Any going back on the above will be a distortion of the party’s physiognomy.”
In other words metal to the pedal and full fledged Greek Default very, very soon.
this week by Germany and IMF. Never wise to irritate to hell the powers that are keeping you on life support.
In the interview Varoufakis did not waver from the confrontational stance for which he has become known in the debts talks. "I am not going to pay the IMF ( International Monetary Fund) and not pay pensions in the next few weeks. So I said to them: 'Decide. Do you want this to be a proper bargaining round, or do you want this to be a post-mortem?'", the New York Times reported.
"With Greek government liquidity particularly tight and reports suggesting the IMF payment on June 5th is will not be completed, then we expect further turmoil ahead before any questionable deal is ultimately reached," Royal Bank of Scotland rates strategists said in a note on Wednesday.
European negotiators have just days to conclude an agreement with Greece or a critical payment to the IMF on 5 June is likely to be missed, according to a leaked document seen by Channel 4 News.
In an memo dated 14 May, the IMF’s staff state: “There will be no possibility for the Greek authorities to repay the whole amount unless an agreement is reached with international partners.” They point to the #$%$1.5bn due to the IMF in June as the first vulnerable payment. Channel 4 News understands Greek negotiators made clear last week that the #$%$1.56bn owed to the IMF in June, beginning with a payment on 5 June, cannot be paid without a deal.
Oh where will Greece find the Euro's to pay back 1.56 billion when they already used 800 Euros of IMF money to pay off May debt??? Game over for Greece and markets correct next week.
They really didn't make any payment dude. They borrowed money in their IMF holding to pay back the IMF. So no Greek money was used - it was IMF money. Do some research then realize Greece is in meltdown mode and on last breath.