Greek Austerity Vote Begins

Tyler Durden's picture

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misterc's picture

It will pass, I bet.

eigenvalue's picture

+1. If it fails, I will eat my shirt up. The banking cartel always wins. The only solution is a revolution!

firstdivision's picture

If it fails, I'll track down Harry Wanger and make out with him.

idea_hamster's picture

Maybe you can hunt down Kouroumplis Panagiotis -- first Pasok defector?!?

Mr. Poon's picture

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.

White.Star.Line's picture

Bankers pay for campaigns for their politicians.
Politicians pay back bankers with their legislation.


Robslob's picture

Bankers Bankers Win...Bankers Win...Bankers Win  The 2011 Insolvency World Series...!

Says Harry Cary from his grave...

GetZeeGold's picture


Sooooooo basically they're voting on whether or not to spend the money they don't have?

Do I have that right?


Judge Holden's picture

Everyone ready to see some austerity get rammed down poor, innocent, young Greece's throat?

GetZeeGold's picture


We in America shove the austerity up our youth's backside.....that way we don't have to look them in the face.


Mr. Poon's picture

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.

sunny's picture

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.


Judge Holden's picture

I'm pretty sure Iceland had a successful revolt against somewhat similar plans.

pazmaker's picture

Yes and Now Iceland pushing hard to become part of the EU

Everybodys All American's picture

Vote is meaningless ... try enforcing the result.

qussl3's picture


Failed State.

Black hole.


Cdad's picture

The only question seems to long before the first building goes up in flames somewhere along the edge of the square.

Personally, I'm giving it one hour.

Cdad's picture

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."  

qussl3's picture

You're one of em long term "buy and hold" types i see.

Rare breed.

Cdad's picture

Yep...but...there is the first building fire.  No one could have seen an public uprising coming.  Impossible.

qussl3's picture

Shit on fire already, just in time for the NY open.


firstdivision's picture

It will pass like the previous one, then Greece will not meet a single obligation as before.  Rinse, wash, repeat.

6 String's picture

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).

scratch_and_sniff's picture


A Man without Qualities's picture

A computer somewhere didn't realize it was only one vote....

scratch_and_sniff's picture

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.

qussl3's picture

The fuck?

90 pip swing cos some dick pol said no?

Damn this shit is tightly wound.

GetZeeGold's picture


Tight is good.



10044's picture

holy shit... lots of NOs

6 String's picture

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.

Atomizer's picture

More Pasok defectors vote no.

Edit, it must of been a blip. nevermind.

sbenard's picture

It just passed!

Mr Kurtz's picture

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.