Will there be a Grexit?

[Flashman]

With impeccable timing, the European Commission has decided that now is an appropriate time to kick off a competition to find a slogan for “European Co-operation Day”.

European Co-operation Day Competition Launched -  Guido Fawkes

Sing up Greeks and Germans “Working closer, growing together"

[Zero Liability]

Meh the Greeks love the EU and the Euro. Well not as much as they used to maybe. This was all about getting a better deal from the IMF/Eurozone.

Now they've sacked Yanis and installed a Euro-drone as the new Greek finance minister a deal will be done very shortly.

Probably bad news for the Germans in the long term as it looks like the leftie, southern europeans are winning the battle of economic ideas...

So print more money Krauts!

I think it is bad news in general, as it'll just result in more extend and pretend, until one of the larger dominoes gives way. But investors seem allergic to any short term pain, thanks to constant central bank anaesthetic. Many of these economies are structurally unsound and will remain so until they are reformed. It'd be better for both the Germans and the Greeks if the latter just defaulted; even Germany's economy is not necessarily healthy longer term, even though it may be productive. This debt is unserviceable. What is being tested is the obsessive compulsion of the eurocrats towards ever closer union. I think they'll pick up the tab in this case, for the realisation of that ideal.

[Unix]

Meh the Greeks love the EU and the Euro. Well not as much as they used to maybe. This was all about getting a better deal from the IMF/Eurozone.

Now they've sacked Yanis and installed a Euro-drone as the new Greek finance minister a deal will be done very shortly.

Probably bad news for the Germans in the long term as it looks like the leftie, southern europeans are winning the battle of economic ideas...

So print more money Krauts!

I think the EU are trying to slowly dump Greece out of the Euro/EU, they are doing it in gradual steps, making sure the markets don't crash each time. The ECB increased the haircut on the Greek banks so they won't survive another few days.

No way Tsipras will accept anything like the deal the referendum said no to, and the German's aren't going to write off the debt because then the other members will come begging.

[Zero Liability]

I think this is what has the Germans so peeved off. Greece is just a small part of it, but the first to come. The dysfunctional relationship is really not too dissimilar to China's habitual subsidisation of US debt and consumption.

[barrydidit]

The euro sign in front of ECB building is being dismantled for maintenance.

[barrydidit]

Now they've sacked Yanis and installed a Euro-drone as the new Greek finance minister a deal will be done very shortly.

I'm sad to see the back of Yanis too, but from what I read I don't think Mr Tsakalotos is the reforming type.

But be careful what you wish for. If the creditors think that he will be a push-over - more willing to accept terms that fall short of genuine debt relief - they are likely to be disappointed. He is comes from the radical Marxist wing of Syriza, and shares little of Mr Varoufakis's European idealism.

Greece creditors will gain nothing from toppling Europe-lover Yanis Varoufakis - Telegraph

Even after the dozens of 'last minute' type discussions over the last 5 years, it does feel like it's different this time. It really doesn't look like there is any way the status quo can be maintained though, so 'debt relief' or 'Grexit' appear the only viable options.

[Chuck]

But be careful what you wish for. If the creditors think that he will be a push-over - more willing to accept terms that fall short of genuine debt relief - they are likely to be disappointed. He is comes from the radical Marxist wing of Syriza, and shares little of Mr Varoufakis's European idealism.

Odd. I'm sure Channel 4 News last night claimed he was hugely pro-Euro and EU.

[barrydidit]

Odd. I'm sure Channel 4 News last night claimed he was hugely pro-Euro and EU.

They're sneaky devils, these Marxists

[darmstadt]

The euro sign in front of ECB building is being dismantled for maintenance.

Except that's outside the old building which they haven't used for a while

[barrydidit]

Except that's outside the old building which they haven't used for a while

There's a spare ECB? Is there any money in it?