Greece will never be able to satisfy its neurotic creditors. Hardly had the government submitted to Brussels a revised budget plan, and the usual “anonymous sources” seem to reject it.
“Two international officials with direct knowledge of the discussions” told Bloomberg that:
“The document covered only fiscal targets, one of the people said. Greece gave its creditors a separate note, also three pages long, on how to address the country’s financing needs, in which the government asked to use funds from the European Stability Mechanism to repay about 6.7 billions euros ($7.6 billion) of bonds held by the European Central Bank that come due in July and August, the people said.
One of the officials said the revised Greek plan is a vague rehash of earlier proposals and is still not considered credible. The second official said the European Commission, the European Central Bank and the International Monetary Fund are assessing the plan, which was received this morning. Both asked not to be named, as they were not authorized to speak publicly on the matter.” (full article Bloomberg)
Joke of the day: “Not authorized to speak publicly on the matter” but have the anonymous guts to make policies, financial policies, bringing the euro and the Greek bonds yields up and down.
International Sources Anonymous
Athens Stock Exchange had started Tuesday morning with a +2% but the “sources anonymous” news had it plunge… and plunge… and plunge.
12:20 ASE +2.21%
12:40 ASE +1.41%