"Following up on our
report from this morning that according to former Greek defense minister,
German submarine chief procurer, and not to mention Jenny Twenty repeat
offender, Evangelos "Xanax" Venizelos, we learn that the god of Deus Ex
Machinae is about to abandon Greece, after an announcement by that most
magic unicorn-infatuated of bureaucrats, Eurogroup head Jean-Claude Juncker made
it clear that Greece is all but finished. As Reuters reports, "The
possibility of a sovereign default by Greece cannot be ruled out,
Jean-Claude Juncker, head of the Eurogroup of finance ministers from
the single currency zone, said in a German magazine on Saturday." Translation: A
Greek default on that €14.5 billion bond maturity D-day
of March 20, is now inevitable. In an advance copy of comments to news
weekly Der Spiegel, Jean-Claude Juncker was quoted as saying Greece could no
longer expect solidarity from other euro zone members if it cannot implement
reforms it has agreed. "If we were to establish that everything has gone
wrong in Greece, there would be no new programme, and that would mean that in
March they have to declare bankruptcy," he said. So after years of
delaying the inevitable sovereign Lehman weekend, it is finally here. As a
reminder, when Lehman filed, everyone, at least those in charge, thought the
fall out could be contained. It couldn't, and the Fed had to step in with
roughly $30 trillion in backstops, guarantees, and asset purchases. The same
will happen this time..."
at http://www.zerohedge.com/news/juncker-warns-greek-default-europes-patience-greece-runs-out
at http://www.zerohedge.com/news/juncker-warns-greek-default-europes-patience-greece-runs-out
