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Greece won’t last beyond November without aid, says PM

Greek Prime Minister Antonis Samaras has signalled that his country could not survive beyond November if it isn’t granted the next tranche of bailout aid. 
Samaras highlighted that the most important thing for Greece is liquidity and underlined the necessity of the international financing. 
When questioned in the Handelsblatt interview how long Athens could survive without additional help he answered: “Until the end of November, then the cash box will be empty.” 
Samaras also felt that the European Central Bank (ECB) could help out by accepting lower interest rates on Greek bonds and rolling over the debt at maturity. However, ECB President Mario Draghi ruled out the idea, because he considers it to be “monetary financing”. 
In an International Herald Tribune conference held in Paris, Samaras also warned that a Greek exit from the euro would be “disastrous” for the Eurozone and could slash the Greek standard of living by up to 70%. 
German Finance Minister Wolfgang Schäuble gave some show of support stating that countries with problems should be allowed more time to reform but he did lash out at Greece by stating that all the other Eurozone states had made good progress on their austerity measures. He did however admit that Athens is in a “difficult situation”.

Latest Rumor Sees 16-17% Greek Bond Haircut, Sending European Stocks Soaring

The latest targeted leak in the European “stress” tests is that according to German bank sources, the discount on Greek debt will be in the 16-17% ballpark. This compares to an earlier rumor leak of a 10% discount on Greek debt which however did not sufficiently spike the market, leading to rumor #2 which so far has done a good job at pushing the AUDJPY (aka stocks) higher. The quid pro quo however, is to take not only German but now French bonds, will be out of the “stressed” picture. As Reuters reports: “The presumed markdown applied to French sovereign bonds will be 0.7 percent, one of the sources, both of which are based in Germany, added. “German sovereign bonds will not be stressed,” both sources confirmed.” Of course, with Greek bonds being stressed to market (which is where the discount actually implies they are tested), French bonds would would suffer a far greater markdown than 0.7%. But then again, the EU has already bought up a ton of Greek bonds, and little if any French. Can’t have the bank pick and choose which country to bail out now, can it.

Just see Today Morning ,I had written European Market short term trend is up !!

Greece for sale!Now only at $ 1725


www.ebay.com/itm/Greece-sale-/170817574881?pt=LH_DefaultDomain_0&hash=item27c58557e1#ht_628wt_1396

From the item specifics:

 I’m offering my country for sale. What is left of it anyway. Slightly used, low wages, low pensions,  low expectations. Lots of sunshine though, free at the moment.

 Many natural resources, minerals etc that are still untouched. Bureaucracy at its best. Great bribe-to-do system, over 20 years of experience.
 Obedience at the IMF, bankers and the Troika is guaranteed, no questions asked. (more…)