Germany's ruling parties are to introduce a resolution in parliament blocking any further boost to the EU's bail-out machinery, vastly complicating Greece's rescue package and risking a major clash with the IMF.
It is possible if not likely we have to suffer through at least 11 more Groundhog days as Greece sets March 8 deadline for investors in bond swap.
Greece has set a March 8 deadline for investors to participate in its unprecedented bond swap aimed at sharply reducing its debt burden, according to a document outlining the offer.
A few hours ago, Greek lawmakers approved a reform law to unlock about €8.8 billion of rescue loans from the European Union and the International Monetary Fund. The law, which was a condition for further aid installments, passed easily with the solid backing of the three parties comprising Greece's ruling coalition, by 168 to 123 votes.
Germany's "Official Denial"
If you seek confirmation that Germany is actively trying to force Greece out of the Eurozone, strong evidence appears in the form of an "Official Denial"
Please consider Merkel Says Won't Force Greece Out of Euro
German Chancellor Angela Merkel said on Tuesday she did not want to see Greece being forced out of the euro, warning that this would have "unforeseeable consequences."
In lengthy negotiations last month the EU reached a deal on how to handle failed banks. The European parliament was set to ratify the deal in a matter of days. Today, the UK decided it doesn't like the deal. France, Italy, Sweden, and Portugal also decided they don't like the deal. The Czech Republic and Denmark don't want changes. Nor does the European Parliament.Please consider EU Deal on Bank Failures Risks Unravelling
Congressional Democrats were sharply critical of the Supreme Court's decision to strike down overall limits on campaign contributions on Wednesday, painting it as a ruling that will allow more money to flow into political campaigns.
Here we go again: EUROPEAN PARLIAMENT TO PUSH FOR DEPOSITORS WITH ABOVE 100,000 EUROS TO FACE BAIL-IN UNDER NEW BANK RESOLUTION LAW - EU LAWMAKER - RTRS Basically, this is DieselBOOM ver 2.0. How long until someone scrambles to announce that this, too, was taken out of context? More as we see it but the EURUSD sure isn't waiting. Instead, it is plunging.