European Council President Donald Tusk said this was now the "most critical moment in the history of the eurozone".
Report: Tsipras "Intended To Lose" and is now "Trapped By His Success" ~ link ~ Is this true...who knows, but the report does explain the sudden departure of the Finance Minister. Stirling
It all started with a report by the Telegraph's Ambrose Evans-Pritchard, whose release of on the record comments by Yanis Varoufakis (which we noted was rather surprising) that Greece was contemplating a parallel currency and potentially nationalizing Greek banks over the weekend, was supposedly the catalyst that got the Greek finmin fired. As a reminder, this is what Varoufakis told AEP on Sunday night: "If necessary... issue parallel liquidity and California-style IOU's, in an electronic form. We should have done it a week ago." And this is what the WSJ said on Monday morning:
That was the first indication that the wheels had officially come off the Greek wagon.... the premier decided to act after Mr. Varoufakis told a U.K. newspaper late Sunday that Greece might introduce a parallel currency and electronic IOUs similar to those issued previously in California. Mr. Varoufakis quickly backtracked on his comments to the Daily Telegraph, but his prime minister had had enough, the people familiar with the matter say.
Merkel: No Debt Haircut ~ link ~
- MERKEL SAYS IF GREEK REFORM PROPOSALS ARE SATISFACTORY AND PRIOR ACTIONS TAKEN, SHORT-TERM FINANCE CAN BE PROVIDED: RTRS
- MERKEL SAYS SHORT-TERM GREEK FIX HINGES ON LONG-TERM PROPOSALS
- MERKEL SAYS GREECE NEEDS MULTI-YEAR PROGRAM
- MERKEL: GREEK PROPOSALS HAVE TO GO BEYOND WHAT BAILOUT INSTITUTIONS DEMANDED BEFORE REFERENDUM
- MERKEL SAYS GREECE WILL NEED STRONGER MEASURES TO PLUG FINANCING GAP BECAUSE OF ECONOMIC DETERIORATION
- MERKEL: EU TO DEAL WITH GREEK DEBT BURDEN AT END OF PROCESS
- MERKEL SAYS EURO LEADERS DIDN'T DISCUSS AID PACKAGE SIZE
- MERKEL SAYS SHE ISN'T 'ESPECIALLY OPTIMISTIC' ABOUT GREECE
- MERKEL RULES OUT DEBT 'HAIRCUT'
- MERKEL SAYS ECB BRIEFING SIGNALED GREECE NEEDS SUNDAY DECISION
Obama in call to Merkel supports Debt Haircut ~ link ~
Just a few short hours after Tsipras called Obama, the US president in turn called the German chancellor and told Merkel to get a "durable" deal done asap (or else the stock market "wealth effect" for the 1% may promptly evaporate). More importantly was Obama's insistence to support the IMF sticking point, namely to "achieve debt sustainability", which of course is ludicrous, but it means that both Lagarde and Obama are now pressuring Germany to haircut Greek debt.
40 Yemeni troops killed in a Royal Saudi Air Force strike ~ link ~
Deep divisions remain among P5+1 on Iran nuclear deal ~ link ~
One of the main disagreements in nuclear talks between Iran and the P5+1 group of countries are the US congressional sanctions against Tehran, an international journalist says.
Russia's new Super Weapon switches off electronics on guided missiles ~ link ~ Talk about a real Game Changer!!! Stirling