FINALLY The Answer on Greek Default and Grexit Coming TODAY

We don’t know the details because “the conversations are private”, but the three biggest mafia gangs in the Eurozone – the European Commission, the European Central Bank, and the International Monetary (Government Bail Out) Fund, AKA the Troika, or Institutions, or Mobsters, or Former Student Council Presidents Suddenly In Charge Of A $#!+load Of Stolen Money, have given the Syriza Welfare Whiners a take it or leave it offer.

If Greece rejects it, a full bank run will begin, and the whole system will begin to buckle.

Yesterday we had another gold flag, by the way. Stocks down, dollar way down, bonds down, gold up.

GREEK SADNESS Tsipras and Varoufakis Completely Cave Like Dogs

If I were a Syriza fan, of which I absolutely am not, I would see this line as the saddest letdown ever. From Bloomberg, and it’s really, really pathetic. I almost feel for these sad Greeks. Not for Tsipras, but for the people. Just sad.

Prime Minister Alexis Tsipras is trying to access European bailout funds for Greece without completely ditching the anti-austerity agenda that won him election seven weeks ago. So far he’s dropped demands for a writedown on Greek debt, abandoned his plan to halt privatizations and accepted that he won’t get “bridge financing” without signing up to conditions.

In return he’s won concessions to shift some meetings to Brussels and persuaded European officials to describe the country’s official creditors as “institutions” rather than “the troika.”

So that’s it then. All Tsipras and Varoufakis have been able to get out of the EZ overlords is to change their name a bit so it doesn’t sound as bad. And move some meetings to Brussels. Wow.

But even sadder, is they couldn’t get even that.

 Greek officials are not hiding their frustration at the reappearance of the dreaded word “Troika” in statements made by several euro zone finance ministers today, reports Helena Smith.

The German finance minister Wolfgang Schauble, no less, used it four or five times – in what some are calling a deliberate act of spite.

Why is a worthless name change for the same freaking people and their sophisticated bailout acronyms so damn important? I don’t think it’s just an emotional thing, though that is part of it.

They want to be able to lie more convincingly to their sad Greek people that they did something positive, that the “Troika” is no more, that there are “different” people auditing us now, that everything is different.

But if the Germans keep calling a spade a spade, they can’t pass the lie.

Syriza did nothing, as expected. And Varoufakis cowers along. His fire is gone.

In retrospect, I should have seen this coming. Varoufakis wanted a writedown and to stay on the Eurozone. He was never going to get both. He can have a full writedown of course, but the ECB will never give Greece another Euro cent in that case.