– Greece Slams EU Bailout-ers: “We Don’t Want The $7 Billion, We Want To Rethink The Whole Program” (ZeroHedge, Jan 30, 2015):
UPDATE: “CONSTRUCTIVE TALKS” are over:
- *GREECE’S VAROUFAKIS SAYS WILL NOT ASK FOR BAILOUT EXTENSION
- *VAROUFAKIS SAYS WILL NOT ACCEPT SELF-PERPETUATING CRISIS
- *VAROUFAKIS SAYS DISCUSSED EURO AREA, NEW DEAL FOR GREECE
- *DIJSSELBLOEM SAYS UNILATERAL STEPS IS NOT THE WAY FORWARD
- *DIJSSELBLOEM SAYS GREECE SHOULD CLARIFY ITS POSITION (we think they did!)
- *GREECE’S VAROUFAKIS SAYS WILL CONVINCE EU PEERS ON NEW DEAL
As Eurogroup chief Jeroen Dijsselbloem (of “template” foot in mouth infamy) heads to Athens for talks today, Bloomberg reports the new Greek Finance Minister Yanis Varoufakis has a clear message for his European overlords of the past: “We don’t want the 7 billion euros…We want to sit down and rethink the whole program.” While this exposes the nation’s banking system to further runs, yesterday’s revelation that Russia could step in with financing should they need it, leaves Dijsselbloem and Shulz with less and less leverage even as Spain’s chief economic advisor warns, if Greece doesn’t play along, “there will be problems on all fronts.”