Within the last hour there has been noise that the EU won’t disburse the next tranche of money to Greece due tomorrow after a DJ headline said “Some governments concerned about making payment amid Greek political turmoil,” according to sources. Due to the Wall St phone game this was immediately interpreted to say the EU won’t make the payment. Firstly, while ‘some governments’ should be worried because there is a good chance they’ll never get repaid, I believe there is zero chance Greece gets cut off tomorrow with the EU knowing full well that new elections in June may reverse the current turmoil and as of today, conditions for the tranche have already been met. EU Commission Spokesperson said “the payment will be made because it has been approved.” Of course what happens next with a new government and whether they abide by their debt agreements will determine future allowance money for Greece but for the next payment from European sugar daddies, they’ll get it.
