Friday, September 21, 2012

Obama is Pressuring the Troika Not to Release their Report on Greece Before the Election

I wonder if Obama has promised greater US participation in a EU bailout if they don't release their troika report before the election.  Note that if the report were negative, it would likely send markets into a tailspin as creditors will likely have to take another haircut and/or Greece will be forced out of the Euro:

"The Obama administration doesn't want anything on a macroeconomic scale that is going to rock the global economy before November 6," a senior EU official told Reuters, adding that previous troika reports had also slipped.


Several sources in Germany described those conversations with their U.S. counterparts and said the message had been that the Americans didn't want surprises before the election.


"It's likely the troika report will be pushed back beyond the U.S. election date," said a Berlin official who spoke on condition of anonymity. Asked if that was a special request from Washington, he replied: "They don't want any surprises."


"As far as European leaders are concerned, they don't want Romney, so they're probably willing to do anything to help Obama's chances," said the source, an EU official involved in finding solutions to the debt crisis.

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