Junker Junks the Euro

Why Greek party leader, Samaras said what he said about re-negotiating the terms of the bailout after the April election, I can only assume was for political gain. Those words alone were exactly what the Troika fears the most about Greece, that they won't live up to their obligations.

I pointed out last night that tomorrow's meeting of the finance ministers can't possibly produce a bailout agreement because of all the votes in the Netherlands, Germany, etc. How can they summit of FMs produce a vote when the key individual players haven't produced the votes needed to do anything at a summit. As I said last night, all of the votes and timetables for them will make your head spin and to think that these group of clowns will be able to manage a disorderly default of a developed nation!

So the Euro keeps diving as expected..

Juncker's statement didn't help, but it was predictable as I pointed out last night and just summarized.

From the DJ newswire...

Juncker: I did not yet receive the required political assurances from" Greek coalition party leaders "on the implementation of the program


As far as I know, other then rumors of what the Troika may demand as proof, Greece hasn't been presented with specifics to give political assurances, but even if they did, the likely next PM of Greece, who unlike Papademo-ns (in his closet)formerly of Goldman Sachs, will be freely elected-Samaras, said everything the Troika feared when he voted for the austerity measures and the next day said they would be re-negotiated in April (presumably after his election).


So if it's not already clear, the end game is "Kick Greece out of the EU, they serve no purpose for German industrial production any more. All that is left are the details of how, when and how bad.