Greece Is Facing The Financial Abyss

Zero Hedge: Germany Gives Greece One Final Ultimatum After Friday's "Optimistic" Talks Devolve Into Disagreement And Confusion

On Friday, the main catalyst that launched the early ramp in the EURUSD, subsequently sending both the Dax over 12,000, and the US stock market soaring, was speculation and hope that the latest round of Greek talks on late Thursday night ahead of tomorrow key meeting between Tsipras and Merkel in Berlin, had gone well, and there was a reason to be optimistic about the near-term for a Greece which increasingly more see as on the verge of expulsion from the monetary union. We explained as much, although we added the provision that at this point it is likely too late to do much if anything about Greece in "German DAX Surges Over 12,000 On Greek Optimism, But The Money Has Run Out."

Now, courtesy of reporting by the FT, we can also rule out any of the so-called optimism in the aftermath of Thursday's talks because as Peter Spiegel reports, not only was there no real consensus, but the talks "ended in disarray", and even though "Greece’s prime minister and fellow Eurozone leaders emerged from a meeting early on Friday morning touting a breakthrough agreement to unlock much-needed bailout funds for Athens — only to fall into disagreement hours later about what it all meant."

WNU Editor: This is not going to end well .... for Europe, and especially for Greece.

More News On The Greek Financial Crisis

'Moment of truth' for Greece and the euro as Tsipris arrives in Berlin -- The Guardian
Greece Faces Decisive Week as Tsipras Is Set to Meet Merkel -- Bloomberg
Greek and German leaders meet amid cash shortage fears -- BBC
German media: Greece to remain liquid until April 8 -- Deutsche Welle
Greece’s leader warns Merkel of ‘impossible’ debt payments -- Financial Times
Greece Fights German Bailout Demands With Nazi-Era Claims -- AP
Greece heads for showdown with Germany over World War II debts -- Washington Post
How German voters are losing patience with Greece -- Kate Connolly, The Guardian
Only Technocrats Can Save Greece Now -- Yannis Palaiologos, WSJ
How Greece Became A Basket Case -- David Patrikarakos, Daily Beast
Explaining Greece's Financial Disarray -- Stratfor

Update: Greece has no allies in the EU .... Austrian finance minister sees lack of trust in Greece (Reuters) .... Spain says no cash for Greece until reforms implemented: FT (Reuters) .... France's Hollande says he will tell Greece they need to respect commitments (Forex Live) .... If Greece exits, don't expect us to follow: Italian finance minister (CNBC).