Constantin Gurdgiev — 8/7/15: Latest Round of Greece Talks: Smoke, Fire, Grexit

My take: Overall, Greek position is now nearly toast. Contrary to many expectations, a No vote did not produce a stronger playing hand for Greece. Possibly because Tsipras failed to deliver any new proposals. Sunday EU Council would be required for a treaty change. This implies two possibilities: haircuts (ruled out) or Grexit. We are leaning toward Grexit, heavily.

The acceleration in Eurogroup and council demands on Greece suggests that prior to the Referendum there was already a strong consensus that Grexit is the preferred direction for further talks.

Looks like Br'er Bear is about to throw Br'er Rabbit into the briar patch.

true economics
8/7/15: Latest Round of Greece Talks: Smoke, Fire, Grexit
Constantin Gurdgiev