EU officials said the talks were over unless Athens changed its mind.....

catch22

.....You will, of course, have to be the judge of this story and how it might affect your portfolio.

Kinda like either side not wanting to admit to a drinking or drug problem, skip the 12 step program; all is well, as long as I/we get our way.

I have to think there surely are "what if" programs that have been run for various economic scenarios for the EuroZone; not unlike the war games "what if".

Early evening in Euroland and one may expect a few drinks are being tossed back at this time to help sort the day's facts.

scott

Meh. Every central bank and government trying desperately to keep the economic seasons from changing. The longer you try to throw money at Winter to keep it from happening, the worse it'll be.

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catch22

Update PRNews release, number 2,098 related topic: 16/2/2015, 21:26 hours, U.S.

Well now............ULTIMATUM is pretty strong wording. And "by" Friday, none the less. Perhaps meaning before Friday's dawn sky?

Round 76 and counting.....

Old_Joe

Greek finance minister Yanis Varoufakis: “I have never played Monopoly with fake money. I always played Monopoly with genuine Monopoly money”

Well, I can make the same claim. What I have been known to do though, is to come armed with lots of extra Monopoly money from another Monopoly game set.

davidrmoran

http://krugman.blogs.nytimes.com/

See Athenae Delenda Est.

Old_Joe

Can't get past the "you gotta pay" firewall. I really like Krugman, too. Damn!!

DlphcOracl

Giving additional bailout money to Greece is akin to giving crack cocaine to an addict. It satisfies his craving and need for several hours only to return soon thereafter wanting more. Greece is economically a Third World country without a functioning economic system. They are addicted to corruption, tax avoidance, a large black market economy, and a system of welfare/ social benefits/ early retirement that they cannot pay for.

It is time for the EU and IMF to call Greece's bluff, discontinue further extortion payments (oops! I meant further bailout loans) , sever ties with Greece and let them do whatever they please. Eventually the entire system will collapse - the economic equivalent of: "Give a man enough rope and he will hang himself". When it finally does happen, we will have hopefully learned our lesson from the debacle of 2007/2008 and not feel obligated to make the greedy and foolish investors holding Greek bonds whole and let them scramble for pennies on their irresponsible dollars seeking risky high yields that the Greek economy cannot make good on.

expatsp

Greece isn't asking for more money, and it hasn't received more money for a while -- the additional "loans" have gone straight to its creditors, mostly in Germany. Greece is currently paying its creditors 1.5% of GDP a year. It's requesting that this level be maintained, rather than increased to 4.5% of GDP (comparable to what Germany had to pay after WWI in the Versailles treaty) as the current agreement requires.

But yes, looks like we're heading for a Grexit! Might indeed be best for everyone in the long term.

LLJB

The problem is that Germany needs Greece and the other not-so-stellar economies to keep the EUR weak and their export driven economy humming. The Greeks would probably be better off overall by leaving the Euro. Europe needs to reform generally and the Greeks are at the front of the line, but I'm not sure it will come to that important work. My guess is that the Germans and others find a good reason to make an additional investment in themselves and just hope they're retired and sitting on a beach in Spain by the time the chickens come home to roost.