Wednesday, April 08, 2015

Tsipras: To Russia and Beyond





Jessie J: Price Tag


If I had been sitting on a metaphorical chair this morning I would no doubt have /fallen off from it/ as I tuned into the BBC World Service reporting that Greek Prime Minister Alexis Tsipras was visiting Moscow, in search presumably for a large Russian loan.


I think the other small possibility is that he's booked a one way flight and is seeking asylum and perhaps not the political kind.

This article in Quartz nicely sums up his potential plan:

Tsipras goes to Moscow


Most financial people are only to aware that Greece must repay a 450 million Euro IMF loan this Thursday April 9th.   I heard one BBC report that Greece has allegedly stated:

"We need you to loan us more money urgently so we can pay back this existing loan"

Hilarious.

How is Russia doing?
Brent Crude prices last 12 months


Natural Gas Prices, last 12 months.



Russian Rubles per Euro.

Russia is in no shape to lend Greece anything.



Why I am so strident on the issue?

- I'm cross with Greece for it's extortionist tactics.  Not limited to

- Demand for Germany World War II reparations of 279 Billion Euros!

- We'll be forced to let ISIS into Europe without funds


To Europe:   Let Greece Exit, take the Haircut, better now than later

To Greece: Exit now, you've done pretty well on all that free cash you are about to default on  (i.e. not pay back). 





The Grexit in 2012



Unpleasant Addendum
After writing this article I have noticed a disturbing escalation of the situation. The Greek politician Konstantopoulou has established the /Debt Truth Committee/,  to investigate if all or some of Greece's 320 billion Euro debt is /illegal/, and if so to write it off!  No I am not joking. See this link