No Greece Solution: Told You So
Thursday, March 25. 2010
Posted by
Karl Denninger in International
Look at this nonsense (and BS): Stocks Gain on Earnings, Greece Aid; Treasuries Drop on Auction http://www.bloomberg.com/apps/news?p...UXqK4HuM&pos=1
Quote:
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French President Nicolas Sarkozy bowed to German Chancellor Angela Merkel’s demand for an International Monetary Fund role in a potential rescue package for Greece. Qualcomm’s forecast helped send S&P 500 technology shares up 1.6 percent. Financial shares rallied 2.3 percent as Bernanke eased concern the U.S. central bank would consider lifting rates and the Treasury was said to plan an orderly sale of its stake in Citigroup Inc.
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This is real positive-sounding, right?
Then how come this just came out?
Quote:
March 25 (Bloomberg) -- European Central Bank President Jean-Claude Trichet said the Eurogroup needs to take responsibility for its members in an interview broadcast on France’s Public Senat channel today.
The Greek government issued “false figures” which is “unacceptable,” Trichet said in the interview. Possible International Monetary Fund aid for Greece is “very, very bad,” he said.
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Oh, so lying is finally recognized as bad?
Excuse me, Mr. Trichet.
Continues: http://market-ticker.denninger.net/a...ld-You-So.html