ECB’S Noyer Admits Grexit Would Be “Very Painful”, Demands Greece “Negotiate Seriously”
by Tyler Durden
ZeroHedge.com
02/12/2015
Despite media claims that the German-Greek relationship did not “look tense” at today’s EU leaders’ meeting; and in spite of the European market’s seeming exuberance at no deal but a possible deal but no deal, ECB’s Noyer has come out swinging:
*NOYER SAYS GREECE NEEDS TO NEGOTIATE SERIOUSLY, SAYS GREEK EXIT FROM EURO WOULD BE `VERY PAINFUL’
This is odd in that markets have been managed to prove Grexit is ‘contained’.. Noyer added that the Emergency lending agreement (ELA) is adapted to the needs of the economy, and ironically explained Greece needed to focus on growth (ironic because Greece is expected to grow notably faster that eurozone this year) and debt reduction won’t help.
The Rest…HERE
