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It will pass, I bet.
+1. If it fails, I will eat my shirt up. The banking cartel always wins. The only solution is a revolution!
If it fails, I'll track down Harry Wanger and make out with him.
Maybe you can hunt down Kouroumplis Panagiotis -- first Pasok defector?!?
Agreed, it is very likely it will pass.
This is, fundamentally, a demographic question. Greece is overwhelmingly composed of people who are in their later years of life. They are not going to go through the severe pain of defying the monetary authorities in order to restructure their country and their economy for the benefit of future years, because, by and large, they will not live long enough to realize that benefit (and since so many do not have children, they have no motivation to do so for the next generation).
Instead, they will suffer whatever they have to suffer, as long as their pensions and their government jobs remain more or less intact. Even pay cuts and pension cuts will be tolerable, as long as the guarantee of a job or a retirement is still there. They will not risk their job security or pension security by defying the powers that be, which would have unknown ramifications. They will do whatever they have to in order to preserve some semblance of the status quo; even if that includes gutting what is left of the private sector, selling off the coastline, and allowing the Disney corporation to turn the Acropolis into a theme park. As long as their pensions and their government jobs remain more or less intact, they will agree to anything.
Likewise, the revolution will not be televised, because there will be no revolution. How do you have a revolution in a country of old people? You don't. Now, Spain or Ireland may be a different story. But Greece is not where it will happen.
Bankers pay for campaigns for their politicians.
Politicians pay back bankers with their legislation.
PASS!
Bankers Bankers Win...Bankers Win...Bankers Win The 2011 Insolvency World Series...!
Says Harry Cary from his grave...
Sooooooo basically they're voting on whether or not to spend the money they don't have?
Do I have that right?
Nay
Everyone ready to see some austerity get rammed down poor, innocent, young Greece's throat?
We in America shove the austerity up our youth's backside.....that way we don't have to look them in the face.
Not poor, not innocent, and definitely not young. Maybe soon to be poor, but Greece has never been innocent, and lo these last few decades, it certainly has not been young. If you want "poor, innocent, young", you will have to go to Syria or Egypt.
I'm convinced it doesn't matter how they vote. The world is just knows they will vote for the austerity issue and yet more unmanageable debt. But even if they DO NOT vote in favor of this bill, somehow TPTB will make sure they get the money somehow. That's what can kicking is all about.
sunny
I'm pretty sure Iceland had a successful revolt against somewhat similar plans.
Yes and Now Iceland pushing hard to become part of the EU
http://www.bbc.co.uk/news/world-europe-13940026
Vote is meaningless ... try enforcing the result.
Bingo.
Failed State.
Black hole.
DEFAULT.
The only question seems to be...how long before the first building goes up in flames somewhere along the edge of the square.
Personally, I'm giving it one hour.
Optimist.
I'm super optimistic...for the next 45 minutes or so. After that, boy I'm bearish. Somewhere near the close, I'll be bullish again, until the end of after hours, when I'll be bearish.
It's called "investing."
You're one of em long term "buy and hold" types i see.
Rare breed.
Yep...but...there is the first building fire. No one could have seen an public uprising coming. Impossible.
Shit on fire already, just in time for the NY open.
YUM.
It will pass like the previous one, then Greece will not meet a single obligation as before. Rinse, wash, repeat.
Well said.
Exactly. Human nature is to do something, even if it is futile, over doing nothing. It's an occam razor that one must never forget (ahem, Bernanke).
OHHHHHH CHECK OUT THE DIP IN EURO...ONLY AFTER ONE NO VOTE!! PUT YOUR HATS ON!
A computer somewhere didn't realize it was only one vote....
Yeah it was in the ruling party though, so all the pricing that went on this morning, factoring in the socialist vote, went out the window! Hardcore.
The fuck?
90 pip swing cos some dick pol said no?
Damn this shit is tightly wound.
Tight is good.
holy shit... lots of NOs
The vote won't mean shit. The R2K is going higher anyway; all news is good for small cap U.S. based companies. It's the most stable and secure asset the world has today.
More Pasok defectors vote no.
Edit, it must of been a blip. nevermind.
PASSED
It just passed!
Well there you have it. Stay thirsty my friends and go long on KY, cuz the ass pounding is just beginning. Meanwhile, back in Bernanke-burg and Tim-town,"And of course, the federal debt ceiling should be raised expeditiously to avoid a severe shock to the economy and world financial markets," the IMF said in a statement.