Eurozone Chief: Greek Proposal Definitely Includes Words

So that's...something?
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Alexis Tsipras, composing the bailout-request version of 'War and Peace.'

Lots of them, in fact. In what must apparently be really, really small type, because it fit onto just 13 pages.

Jeroen Dijsselbloem, who presides over meetings of eurozone finance ministers, called Greece’s latest proposals an “extensive piece of text” but said the quality of the plans has yet to be determined. “Either way, we have to make a far-reaching decision,” he said. “So let’s do this carefully.”

Which you can do when you’re the ones setting the artificial deadlines that seem to come and go in these parts. Still, things must be going somewhat well, because Alexis Tsipras hasn’t asked Uncle Vladimir for a few rubles yet.

"Mr (Prime Minister Alexis) Tsipras has not approached us for any help," Putin told a news conference in the Russian city of Ufa following a security summit and a meeting of the BRICS emerging economies.

That may be because, after sitting on the sidelines for the first hundred rounds, Oncle François has decided he doesn’t want to let Germany torpedo the European project, after all. And also because they came up with the name for the place, or something.

“Greece is a passion for France and Europe,” Mr. Valls said. “The goddess that gave its name to our continent is at the heart of our mythology.”

Alas, the French change of heart may have come too late for the hedge funds.

Hedge funds that make big bets on currencies, interest rates and commodities were hit hard in June as a worsening Greek debt crisis, concerns about China growth and U.S. rate rise uncertainty unsettled markets….

While many funds are still finalizing monthly numbers and will begin releasing them to investors in the coming days, initial data from industry tracker Eurekahedge shows these funds were down about 2 percent on average in June.

Creditors Assess Greece’s Bailout Plan as Optimism Rises [WSJ]
Putin says Greece has not asked Russia for aid [Reuters]
France Intercedes on Greece’s Behalf to Try to Hold Eurozone Together [WSJ]
Greek shock in June helps jolt macro hedge fund recovery [Reuters]

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