Mark Grant On Greece: “There Is No Deal Here”
Mark J. Grant
ZeroHedge.com
11/26/2012
There is no deal here. There is a fantasy of projections and some wishful thinking but no deal. There is not even an agreement on disbursement as codified in the last paragraph of the statement (here). The odds on Greece reaching a primary surplus in the next several years are about 1 degree off of Kelvin’s Absolute Zero. There is not even a definitive agreement yet to give Greece more money. What we have here are more promises, a concocted ruse and an agreement on a concept that is actually no deal at all. What we have here is one more “huff and puff” and no agreement by any definition that we suspect anyone (aside from self-referential European bankers) would find acceptable. After EURUSD’s initial ‘headline’-driven surge, it is fading now.
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