Recent comments by Mary

WHICH? "plan" to do WHAT?

VOA/NPR producers today resorted to interviewing Greek ex-pats in ASTORIA, QUEENS, NYC about there confidence in the economy over there.
< wipes tears >
"I'm confused" : to the one was the response.



Y'all don't even know the NAME of the game.

Setting aside SYRIZA commitment to denounce ALL DEBT,
explain the advantage of this game strategy to denounce ALL DEBT.

EC offers 16B.
SYRIZA counter-offers 29B. (plus more negotiation, reported, on terms of "conditionality.")

Let me remind, all.

A common refrain in HCN comments is, Germany is punishing Greece, because the government is REFUSING Eurosystem finance. This punishment evidently is not the Eurosystem refusing to finance the government of Greece.

:: from EUR 7.5B tranche to infinity Pigged punishment

" 'creditors' proposed a five-month extension of the bailout programme and funding of 16.3 billion euro "
Tsipras returns to Athens and convenes an emergency meeting of the Council of Ministers 26 June
"Athens had requested an 29.1 billion euro agreement with the European Stability Mechanism [ESM]"
Greece seeks last-minute debt deal as default nears 30 June

This is all lovely.

Where's the screed about the Greek economy transacted in -- whatshecallit? o, yeah. FETA.

You have a question. So do I.
What is the text of the question that will appear on the referendum ballot?

FETCH, Spot! FETCH! Greek or any translation.

There is no test. I comment to remind HCN readers --the transients who don't exercse th IGNORE "feature"-- who they are dealing with.

Incidentally, no HCN correspondent mentioned today the EUR 1.2B of innerboob pledges collected by that enterprising humanitarian Brit to cover Greece's Crazy IMF payment.

This news is all the rage today on VOA/NPR.

My question is, Since all of Greece will vote "NO" on the question (yet to be published), how will the enterprising humanitarian collect and disburse EUR 1.2B?

@ "now I'm really confused"

I don't wonder why. HCN correspondents have little command of the facts of EU bylaws, ECB bylaws. Greece's capital structure, and EU "financial assistance" since 2010 --when it became clear even to the current regime running Greece that the country would be unable to honor, or resolve, private (read: HH default) and public debts called in by the Panic of '08. EUR "240B" is the suspiciously round and intransigant figure parlayed by speculators in the press. EUR "311B" is the suspiciously round and ahh compounding figure which includes EU loans to successive regimes of the government of Greece, to date.

Nonetheless, many HCN correspondents rely on Anglo-merican MMF mangagers' newsletters and columnists who are paid to file agita in finance press dailies. More important, according to these tall tales on which HCN correspondents rely to prescribe "Icelandic" fiscal and political policy to the people of Greece, Germany holds ALL the notes. (IF you've truly been listening to US "mainstream" media coverage of Teh Crisis, I ask you, How many times did any "expert" mention that Greece missed its first Crazy IMF --not BUNDESBANK-- payment?

Nothing but celebrity-watching, black[SIC]mail, and vicarious revolution posing as financial "analysis". Because the government's debt service BURDEN to the Eurosystem --which it has struggled to meet despite ahh 75% employment since 2010-- is an inexplicable embarrassment, or epic coup. (You be the judge.) Because the makers of misselling would rather stab themselves with a blunt pencil than acknowledge either the letter or the spirit of EUR-LEX --incorporating all supra-national "bank union" regulatory powers-- to which the state of Greece is a signatory.

Who benefits from collapse of GREECE government capital?

It is not Greek widahs and orphans, who this week will sample the future WITHOUT continuous financing by the Eurosystem. which is governed, yes, by the "independent" ECB. The sum of these experiences will be ectastic, some HCN correspondes predict, provoking a "NO" NEW! DEBT, or "YES" to Jubilee! (You be the judge.)
alrighty then.
:: molehill-mountain x ∞ Pigged what hasn't been repaid, will never be repaid!

(NOTE: "First Economic Adjustment Programme for Greece", the "Second Economic Adjustment Programme" particularly Crazy IMF stake)
Financial assistance to Greece

:: cannot. read a. 'graph Pigged
Greece's Debt Due: What Greece Owes When - 

1. The European Central Bank shall have the exclusive right to authorise the issue of euro banknotes within the Union. The European Central Bank and the national central banks may issue such notes.



USD:EUR, 1:0.8978

You subscribe to Forrester? IDC? What's your understanding of EU "consumer" and B2B investment in telecome (read: information) services, let alone software and hardware.

FX gotta be good for US software and hardware "penetration" of the EU markets. anurute?

NOTE WELL. The supra-national government, EU, did NOT have and could not even in Clowncil evoke the authorities vested by treaty signatories --legal or otherwise-- prior to 2013, even 2012, to regulate, ergo penalize, Eurosystem and EU member-states that exist today.

HCN correspondents seemingly don't realize (or care) that the "stress tests" prior to 2013 were self-adminstered by banks, i.e. not audited by the EU's regulatory agents until certain treaties came into force, were ratified by the legislatures of the sovereign EU member-states.

Unexpexctedly, according to Anglo-merican press, you're now decoding Anglo-merican press reports about "technical" missions to EU member-states seeking EU financaing for WTF.

JINX !@!!
I recommended July vacation in Kiev a cupla months ago. ooo lookie.
USD:UAH, 1:21.01

Which reminds me of a comical VOA/NPR feature story broadcast today. The title ought to have been, "How are Used Car Salesmen in China like Use Car Salesmen in the USA?", but it wasn't. (CONFESSION: I fell for the Saturn ad back in the day. But the test drive sucked.)

Would You Buy A Used Car From A Man Named Beer Horse? LISTEN

zero irony. Gahbless Laidlaw

To observe, play with, or both "Latin heritage"?

< wipes tears >

CAUTION: Some ppl professing "Latin heritage" speak "African". Budget for an intepreter even in Puerto Rico, home of boricas.

< wipes tears >

Opinion on what matter?
You refer to my citation, "EU countries are going to demand the same deal..."?
I do believe, I've made my opinion of HCN geopolitical analyses, forecast outcomes of EU-GREECE finance terms, blatant.

< wheeeze, cough, snorkel >

These forecasts are comical.
The state of Greece, personified by Huey and the Valve, is comical. The "morality play" performed by these actors (and 19 EU FInMins) and the chorus ( e.g. Krugman, Stiglitz) is of course "a classic" tragedy, wherein status quo prevails.

< pick teeth, suck vigorously >
Am I "over-thinking" it, Bronze Age "authoritative" or "authoritarian" power memes infesting your lymphatic system?

magnitude of what TARP

In review, between Congressional votes (had you been here), you would admit, principle trumped precision (value, never specified, of course) in press reports of voters' objections to the EESA.

The TARP is simply the name of funds subsequently appropriated by Congrees to finance the Secretary of the Treasury's unlimited ( "whatever it takes") authority to effect solvency AND liquidity between US-chartered banks and regulated financial services trades.

What a great policy! Asset prices have soared! Some people may have ahh forfeited their investments (read: homes), BUT few have paid tax on income (read: short sales, HELOC defaults, foreclosures )


< wheeeze, cough, snorkel >

"If they cave for Greece, other EU countries are going to demand the same deal... "

Still going strong @ HCN final furlong!

< wheeeze, cough, snorkel >

I bet, one tenth can recall the day in 10 November 2008, even before the second leg down, that the president-elect and the incumbent met to pass off the bill.

As Transfer of Power Begins, Obama Visits Whitehouse

Drapes? I don't fuckin' think so.

What was the question again?
by Hope Yen [AP]

Ambrose Evans-Prichard slammed the referendum literature, saying, "This question is questionable. How are Four million starving Greeks to respond confidently to the statement, "I agree with the current government's game theory" ?

:: deep-data-mining Pigged< wipes tears >

How, exactly, is the referendum worded ... does anyone have an English translation?

< wheeeze, cough, snorkel >

(Anglo-merican press: Wait. What? What day of the week is it? )
What is that question which will appear on the ballot, exactly?

Could you be alluding to my prefatory remarks which interpreted the idiomatic subject, "EU efforts to retain," of your question?

I am confused now as to whose "support" I meant me to affirm: To which parliament do you refer, that of Greece or the EU? I mean, yanno, because Greece is not the EU. And I do believe that I categorically stated that I disapprove of the actions of the state of Greece, that democratically elected representative body of the ahhh polis.

Shure, it was! GS expert forensic accounting and bond brokerage TOTALLY guaranteed that the capital structure of GREECE satisfied terms of Teh Treaties Pigged that qualify member-states for EUR adoption!

I do not approve of actions taken by the state of Greece to acquire financial assistance from the EU government and even its own constituency.
is nohing? har.

The book is much, much more entertaining (genre: morbid humor) than the film adaptation.

Look, I've told my share of Drachma jokes, but that was with the understanding that Greece issuing Drachma was fiction.

Sumbuddy never got his or her ass handed to them. For realz.
"Sink or swim! Buh bye!! Hve fun storming the castle!!"

That may not be true with current Capital Controls in place.
IF cash demand exceeds reserves.

< wheeeze, cough, snorkel >

For everything else, theres GRD and 'coupon' IOUs.

:: real-bank-run Pigged NOT "electron"

"What is not a bank run?
So long as the ECB [!] and Greek Central Bank [!] was spreading panic about the liquidity of reserves, then a reasonable split could not occur, Any reserves would be converted into currency."
Cash demand less than or equal to reserve.

< wipes tears >

non-discretionary imports

Like what? EUR or USD?

< wheeeze, cough, snorkel >

Wait, wait. I've seen this play before.

< wheeeze, cough, snorkel >

Earlier today, it became clear that, during the meeting in Brussels this morning, the creditors proposed a five-month extension of the bailout programme and funding of 16.3 billion euro if an agreement were reached.

Tsipras returns to Athens and convenes an emergency meeting of the Council of Ministers 26 June

Rhere was no immediate confirmation from Athens, where the Greek premier's office said only that Athens had requested an 29.1 billion euro agreement with the European Stability Mechanism [ESM] [BWAHAHAHAHAHAHAHA] "to fully cover its financing needs and the simultaneous restructuring of debt".

Greece seeks last-minute debt deal as default nears  30 June

Game to Valve!!1!

:: < wipes tears > Pigged Jan, 2015 EUR 7.5B tranche SURGES ...

< wipes tears >

"Ok, Greece won't agree to the current terms offered - so lets offer worse terms."

< wheeeze, cough, snorkel >

"That truth is that the state is broke."
As Budget Deadline Approaches, Illinois Faces A Government Shutdown LISTEN

< wheeeze, cough, snorkel >

Could someone explain to me how they think it would work if the Greeks left the Eurozone?

< wheeeze, cough, snorkel >

Why, soitnuallly! Greece will not repay the country's debt with ... CHEAPER DRACHMA!!!!
< wheeeze, cough, snorkel >

So the Greek people could just open accounts at a French bank, in Greece.


< wheeeze, cough, snorkel >

There only NAZI banks in Greece.

< wheeeze, cough, snorkel >
< wipes tears >

ahahahahahahhahhha ....
< wheeeze, cough, snork>

This thread is one of the funniest threads published for the HCN archive.
< wipes tears >
Reading it, one might imagine that the Months of Infamy (Feb and Mar) --Huey requested a 6 month extension (got 4) and the Valve revealed SYRIZA's "bridge loan" with debt-to-equity swap proposal ("perpetual bonds") -- had never occurred.

ooo boy.

:: cannot. carry a. thought Pigged
" 'Our first choice is to convince our European partners that, in their own interest, financing must not be stopped,' Tsipras said in an interview with The Wall Street Journal Thursday."
Taoiseach highlights Ireland's recent experience of tackling its recession 21 Mar
"The Greek authorities have requested an extension of the Master Financial Assistance Facility Agreement for a period of 6 months."
The document with which Greece requests the Troika to remain 19 Feb
inEedAbrIDGeloAN 12 Feb

Finance Minister Yanis Varoufakis, in London to reassure private investors that he was not seeking a showdown with Brussels over a new debt agreement, said the new left-wing government would spare privately held bonds from losses, a source told Reuters.

perpetual bonds 2 Feb

re: language of psychopathy

But it's important to word it as a bailout of Greece.

That's a lovely list of lenders ("Greece" [CB?], "non Greek financials" [alias Eurosystem, of which private and public depository and investment institutions, and international bond holders, e.g. Samurai issue of Greek sovereign debt], "Greek financials", ECB) TO WHOM?

The short answer is borrowers in the period prior to the Panic of 2008 (commonly dated to NYSE ahh "correction," ( October 2008). This lovel list crudely illustrates proportionality (pun intended) of Bailout II (2012) beneficiaries (19% + 24% = WHAT?), following Bailout I (2010, not illustrated).

How many categories of borrowers? The short answer is, (i) Greek nationals, (ii) Other nationals.

How many classes of borrowers within each category? The short answer is, (i) consumer, (ii) commercial industrial trade, (iii) commercial investment trade, (iv) government agencies.

What traits do all of these borrowers and lenders share? The short answer is, (i) a credit default event, i.e. failure to repay loan proceeds to lenders in the period Oct 2008 - Oct 2010, and (ii) recourse, i.e. the assumption of obligations in the event of credit default by one or more public agencies which regulate debt origination and marketing within their jurisdiction (read: "bailout").

Which jurisdiction? EU, specifically Greece.

You're welcome.


I was in the midst of emending my remarks to remind HCN correspondents that Greek ex-pats residing in other EU-member states (especially Mayfair, London, England, UK) may qualify for SYRIZA crowd-fund rights, introduced for the general election Jan 2015. These rights include but are not limited to all-expensed-paid transportation to the polling site of their choice.


You remember that story, right? Tokyo 'Rose was ecstatic.

not-greek ex-pats resident in Greece are not Greek citizens, therefore will not vote.

(CLARIFICATION: Greek ex-pats in other EU member states may qualify for SYRIZA crowd-funding rights, introduced for the general election Jan 2015)

It seems to me, HCN correspondents are not conversant with controversial immigration and naturalization law. It is quite atavistic, reminiscent of the so-called Golden Age of Athenian democracy. SYRIZA only managed this year to push through a reform (in spite of Independent and GOLDEN DAWN coalition MPs) which qualifies ~ 100K residents, many of which 2G.

Didn't anyone beside me read Tokyo 'Roses column on the subject? "I AM A JEW" He was livid.

What are we going to talk about once Greece leaves center stage?

Hook ups and wife swapping. The Mail exists. I reckon, all kcoop need add is a :sale: icon, dynamically linked to the UID record that stores girth (inches). Further, I reckon, it would be easy enough to exclude counterparties' records by total USD value "contribution" to TILE purchases. Say, $300 threshold.


I cried, virtually, kinda sorta. theoretically.

I wonder, idly, if there's an app for that infamous battle. I'd want a plug 'n' play app with a virtual headset so I could empathize with grunts having their limbs and heads shattered, because the field and the town of Gettysburg is beyond boring. I know. I've spent a day there, actually.

You all remember how the confederation of mayors in Greece, except the mayour of Salonika, reacted to the parliament's attempt to consfiscate their treasury to pay the first Crazy IMF bill? Tokyo 'Rose was liviid in his Torygraph column. ooo boy. What a day that was in HCN comment history.

Athens and Thessaloniki mayors with the initiative "Yes to Europe"

Your weight and dress size? That was a luke-warm topic three years ago : how small am I.

re: parity watch

PLUMMETING 111!11!!!!!

sumbuddy call Blackhalo.

USD:GBP, 1:0.6356

That must be good for California AVACADO exporters. amirite?

USD:EUR, 1:0.8899

One dollar buys 89 euro cents.
That must be good for SFR prices in Marin. amirite?

[ round up, or round down. you be the judge. - ed.]

in a few more decades they will be facing the same situation that we are today with some additional problems due to their odd political structure -- which is probably going to be a major problem if they don't have the good sense to scrap it when this generation of leaders dies off.

Now, THAT is funny.

Tell us: What "political structure" do CLINTON/NLAND 2016 recommend? It cannot be principles of FREE TRADE embodied ... wait. no. corporations are not people. The thing must be EXPRESSED. ... in provisions of GATT, WTO, and TPP, can it? These ahh "political structures", IF adopted by, well, whoEVAH, most certaiinly promote middle-class wealth ACROSS THE GLOBE.

Except that the majority of Spanish citizens are (read: vote) bourgeois (in any sense one cares to characterize that political identity ahhhhhh by demographic trait ) to their cores. Iglesias quit, having failed to institute a operational hierarchy, not so ironically (self-interested rational actors gotta do what ... &tc), within the national "party" organization, signifying that fragmentation and opportunistic realpolitik within this "movement" defeated the sum of coalition power in los congreso o senato for the foreseeable future.


So much for syndicalism in the 21st century.

Both mainstream parties, PP and PSEO, will "co-opt" (read: merge and acquire) individual Podemos and Cuidados labelled. or "branded," candidates.

not in '36, not in 2015

:: cataluyna-is-not-spain Pigged har
“If we have to disobey unfair laws, they should be disobeyed”

( Mediterrean > industry > tourism > demographic )
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
Why Spain is not an option for Syrian refugees seeking a new life
Protest movement deals PP an historic battering

membership in the Schengen Area.

< wipes tears >

In other words, the EU? Since this provision in the treaties applies to nearly all members of the EU. Let's talk topical (personal and corporate tax law, labor law, human rights law, and principles of FREE TRADE gahbless ) exceptions.

Bulgaria, Cyprus and Romania are not yet fully-fledged members of the Schengen area; border controls between them and the Schengen area are maintained until the EU Council decides that the conditions for abolishing internal border controls have been met. (Details of the position of the United Kingdom and Ireland are given below.)

Aren't you the clever neandertal and denisovan allele-bearing Anglo-merican press consumer.

summary of legislation

:: white-mail Pigged

(good luck wit dat )

The threat of Kammenos to Germany: "If the EU abandons us, you sommergeremo [?] migrants mixed with jihad (GOOG translator)

"'The emergency liquidity assistance (ELA) will be activated and we will be able to print 100 billion euro on our own at the Bank of Greece,' she said in response to a question about what a SYRIZA government would do if the European Central Bank cuts off funding to Greek banks."
Independent Greeks MP Rachil Makri, who joined SYRIZA