Courtesy of Mish.
The question on everyone’s mind is “Will He or Won’t He?“
The word “he” can mean either the ECB or Greece. Take your choice.
- Is the ECB really prepared for a Grexit?
- Is Greece really prepared for a Grexit?
In this corner, I am not quite sure either side is prepared for anything. Yet, if one side is more prepared than the other, then I suggest Greece has the upper hand.
Greek Bonds Decline as Tsipras Holds Firm to Bailout Rejection
Bloomberg reports Greek Bonds Decline as Tsipras Holds Firm to Bailout Rejection
Greek government bonds declined, with the three-year yield climbing to the highest since 2012, as Prime Minister Alexis Tsipras reaffirmed his government’s rejection of the country’s international-bailout program.
Tsipras’ comments are “underlining that Greece is still an unresolved issue and that a solution is not going to be easy,” said Arne Lohmann Rasmussen, head of fixed-income research at Danske Bank in Copenhagen. “It is always harder to absorb this uncertainty if you at the same time have a lot of supply in the market.”
Compromise?
On February 8, the Financial Times reported Washington Urges Eurozone Leaders to Compromise with Athens.
The Obama administration is pushing eurozone leaders to compromise more with Athens as fears grow that a protracted stand-off could damage the global economy, say senior EU and US officials.
The US lobbying comes amid mounting concern in Brussels and Washington about the hardline stand taken by some eurozone governments, particularly Germany, that Greece must press on with budget-cutting commitments made under its existing €172bn bailout regardless of last month’s election, which brought anti-austerity party Syriza to power.
Greece Says “No Extension”
Today the Financial Times reports No extension to Greek bailout, says Tsipras.
Alexis Tsipras, the new Greek prime minister, has insisted he will not seek an extension to the country’s current bailout, putting his leftwing government on a collision course with its creditors in the run-up to this week’s EU summit.
…
