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No Breakthrough – Greece talks to continue at 11 pm

After 6 hours the meeting between Greek PM Alexis Tsipras with EC’s Juncker, ECB’s Draghi and IMF’s Lagarde concluded without a positive result, without a deal. Apparently the differences between Greece and its creditors remain.

Immediately after,  the Eurogroup started and thus despite the fact due to lack of Tsipras-creditors agreement, the finance ministers had “no basis to discuss about.”  While entering the meeting hall, one after the other  the EuroFinMins made important statements that all ended with the sentence “long way to go“.

Who had instructed and  orchestrated this neat group of men’s choir? No idea. But they all seem to have received their orders in time. Something like mission impossible when the tape self-explodes after the agents hear the orders for their new assignment and instructions.

Oh. I am unjust. One or two said also something of a “long night” that was laying ahead of them.

Nonsense. As the Eurogroup had no instructions by the Institutions and therefore no agenda, the gentlemen drank and glass of water or coffee, exchanged views about God, the World and the Euro and left.

The Eurogroup meeting ended after 80 minutes.

They will meet again at 1 pm.

According to information coming from Brussels, Tsipras, Juncker, Lagarde, Regling and staff and assistants will hold a meeting tonight at 11 pm.

Rumors that the Eurogroup had to interrupt the “long night” and the “long way” because the institution’s cafeteria was open until 12 midnight are not confirmed.

To make the long story of “speculations and no substance” short, I tell you this:

There is No Breakthrough and No Deal tonight. Yet all sides stress that there is a will for agreement.

PS sorry for the abbreviations in names & institutions but I am tired of typing writing them  1200 times per day.

keep calm

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  1. Now its getting interesting, the Eurogroup Finance ministers are a bunch of rubber-stampers who are told what to say and told what to do – they are impotent and of no consequence, they are merely ‘gofers’ of the EU.
    The real question now is who is in charge? is it the IMF or is the EU. Does the intransigence of the IMF and its ‘sticking to its demands’ imply it has a bigger voice than the EU in EU afairs? If not, what business is it of the USA-backed IMF to interfere in these matters to the extent that the euro, eurozone and the integrity of the European member States is now under massive uncertainty.
    As said before, Tsipras should tell the IMF to go f**k itself and mind its own business. The business of the IMF is imperialist and globalist in nature. Greece and a few S. American countries are the few countries to stand up to its hegemonic viewpoints.

  2. Let’s call a spade a spade here. There never will be a “deal”, simply because both sides have a different objetive. The Greek government is aiming at debt “relief”, “write down”, “debt forgiveness”, whatever you want to call it. their aim is to reduce debt, and eventually end up without debt.
    the “institutions” are talking sustainable debt. The definition of “To sustain” is to keep something going”. Or, as defined in Merriam-Webster:

    to provide what is needed for (something or someone) to exist, continue,…

    ( Which is precisely what their aim is. They are not interested in having a debt free Greece, Ireland, Spain, Italy, whatever. On the contrary. Their aim is to keep these countires in debt, to maintain and manage these societies in debt. THEY HAVE NO INTEREST IN REDUCING, LEAVE ALONE REMOVING DEBT. Debt is the driver for their economic model, which is based on inequality of wealth and resources. Everything will be done to maintian that one way flow of wealth and resources. And the flow is not towards Greece, Ireland, Spain, Italy, whatever. It’s the exact opposite.
    If that takes opening the dirty tricks box and toppling sovereign governments, then that will be done. If that means decapitating the national economy of a nation, then that will be done. As long as debt is sustained, the flow (in the right direction) is maintained. This is precisely why the Euro was set up in the way it was, and why it will be maintained in this set-up. The founding father of the Euro, Robert Mundell, on the function of the Euro:

    The euro will really do its work when crises hit. It puts monetary policy out of the reach of politicians. Without fiscal policy, the only way nations can keep jobs is by the competitive reduction of rules on business.

    Never a truer word spoken…
    The idea that the euro has “failed” is dangerously naive. The euro is doing exactly what its progenitor – and the wealthy 1%-ers who adopted it – predicted and planned for it to do. Greece is simply the test tube baby for the 1% to fine tune their weapon of mass society destruction… If anything, these meetings will give them more data to create a better weapon. Helping Greece, or finding a solution, is not the objective. that is why the goalposts keep shifting…