"As the Greek parliament meets to finalize huge public sector job cuts, Reuters
is reporting that Greece will miss the deficit targets set in its EU/IMF
bailout this year and next... We would say "again" but at this point "as usual"
makes far more sense, Why this should come as a surprise to anyone is beyond us
but the next steps by the Troika (as again and again targets are not met and yet
still bank-extending-and-pretending-funding is provided) will be fascinating as
they switch from carrot to stick and back to carrot perhaps. Assuming, of
course, the "wildcat strikes" at any and all government institutions by
government workers about to be sacked, allow Troika member access at some point
in the near to long-term future. Although using numbers conceived on napkins as
a replacement will be nothing new to either Greece, Eurostat or the Troika. Add
to this the
comment from the Deputy Leader of the CSU (one of Merkel's tri-party
coalition) that Greece would find it easier to recover outside the currency bloc
and rhetoric remains high, as do expectations for an inverse surge in the EURUSD
at open in a few hours. The biggest winner: Qatar which just snuck in some
recycled petrodollars into Greece, which will last the kleptocorrupt government
about 1 week, in exchange for Greek gold..."
at http://www.zerohedge.com/news/surprise-greece-will-miss-budget-deficit-targets-and-better-out-eurozone
at http://www.zerohedge.com/news/surprise-greece-will-miss-budget-deficit-targets-and-better-out-eurozone
