Hard hitting global and local news
The Financial Times discusses the situation in Tsipras Letter Reveals Precariousness of Greece’s Finances . Greece came so close to defaulting on last week’s €750m International Monetary Fund repayment that the prime minister warned IMF chief Christine Lagarde he could not pay it without EU aid
The Wall Street Journal reports IMF Works With Greece’s Neighbors to Contain Default Risks . The International Monetary Fund is working with national authorities in southeastern Europe on contingency plans for a Greek default, a senior fund official said—a rare public admission that regulators are preparing for the potential failure to agree on continued aid for Athens. Greek banks are big players in some of its neighbors’ financial systems.
Meanwhile, please consider Tsipras Reshuffles Negotiating Team to Sideline Varoufakis . Greece’s outspoken finance minister Yanis Varoufakis has been sidelined after three months of fruitless talks with international creditors to unlock €7.2bn in bailout funds, heartening investors and sparking a rally on the Athens stock market. Eurozone officials said they were encouraged by the move by Alexis Tsipras, Greece’s prime minister, to overhaul his bailout negotiating team in the wake of an acrimonious meeting of eurozone finance ministers in Riga last week
See original article: ECB Squeezes Greece on Collateral; Humorous Lies of the Day; Capital Controls Likely Soon
More: Denials Mount as Greece Robs Peter to Pay Paul; Shell Games and Check Kiting
Read more here: Greece to Default on IMF in May, June if No Deal Reached
I received many questions and comments regarding Obama’s Trans-Pacific Partnership Fiasco vs. Mish’s Proposed Free Trade Alternative . While most do see Obama’s Trans-Pacific Partnership (TPP) as a fiasco, many question my alternative proposal: An excellent free trade agreement would consist of precisely one line of text: All tariffs and all government subsidies on all goods and services will be eliminated effective June 1, 2015"
See more here: Fruity Booty Trojan Horse; Some Truth in Pack of Lies; Greek Hypocrisy and Solidarity with Stupidity
Visit site: One Minute to Midnight: Athens Raids Public Health Coffers in Hunt for Cash; Brussels Threatens Capital Controls
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