A Hitchhiker's Guide To The Greek Crisis, On This, The Day Of The Vote Of (No) Confidence

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Tue, 06/21/2011 - 07:17 | 1388297 Ethics Gradient
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Anyone have any idea what the ration of no to yes will likely be?

Tue, 06/21/2011 - 07:18 | 1388299 qussl3
qussl3's picture

Apparently 155 PASOK will be yes.

Tue, 06/21/2011 - 07:20 | 1388300 Ethics Gradient
Ethics Gradient's picture

I do apologise. I should have said:

What will the ratio of no to yes be, bitchez?

Tue, 06/21/2011 - 07:31 | 1388310 topcallingtroll
topcallingtroll's picture

the ratio won't matter.

It is scary as hell going long now, but I still think germany and greece will gloss over their differences for one more round of bailout roulette.

News should be positive today?

Tue, 06/21/2011 - 07:47 | 1388350 ViewfromUnderth...
ViewfromUndertheBridge's picture

ha ha...vote 2100 GMT which I think is when NO markets are open.

Long night for longs tonight, rottsaruk trol

Tue, 06/21/2011 - 09:07 | 1388542 Ethics Gradient
Ethics Gradient's picture

No vote has ever set back the EU agenda.

This will only end when only Germany is left to backstop everbody and it realizes it can't afford to.

There's years to go yet.

Tue, 06/21/2011 - 09:23 | 1388609 Rynak
Rynak's picture

If my calculations are right, then yes - it will be about one hour after market close.

Tue, 06/21/2011 - 07:58 | 1388378 Bugman82
Bugman82's picture

Newswires are saying it is much more likely that he'll remain in power than be thrown out.  Basically, all the political parties are in bed with the idea of austerity and the people who are rioting have no representation.

Tue, 06/21/2011 - 08:27 | 1388437 Ethics Gradient
Ethics Gradient's picture

I do think anyone has ever rioted because they agree with their representatives...

Tue, 06/21/2011 - 07:46 | 1388341 Pool Shark
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"Anyone have any idea what the ratio of no to yes will likely be?"

How about 42?

[Don't panic; it's mostly harmless...]


Tue, 06/21/2011 - 08:16 | 1388423 qussl3
qussl3's picture

Like the Vogon construction crew overhead?

Tue, 06/21/2011 - 07:21 | 1388298 qussl3
qussl3's picture

This is bear, handle it the same way you guarantee a lehmann.


Tue, 06/21/2011 - 07:23 | 1388301 Ivanovich
Ivanovich's picture

"Chronic problems include rampant tax evasion -- the labour minister has estimated a quarter of the economy pays nothing."


Hey, where did I read something like that before?  Oh yeah, here!  Except it's closer to 50%.

Tue, 06/21/2011 - 07:48 | 1388353 JustACitizen
JustACitizen's picture

Perhaps that is the case here in the US?

However - I'll bet they can't beat us for huge multinational corporations that not only do not pay income taxes - but - also receive  truckloads of cash from the gubmint... We are the epicenter for big corporate malfeasance - just follow the money.

The situation here is especially galling since we also get involved in so many foreign adventures in the name of truth, profit and the American way....


Tue, 06/21/2011 - 08:14 | 1388302 Paralympic Equity
Paralympic Equity's picture

If they vote confidence stop them, people of Greece stop this crooks

Tue, 06/21/2011 - 07:30 | 1388308 hugovanderbubble
hugovanderbubble's picture

Greece Exit EURO

Vote No

-Say hello to neo drachmas

Massive devaluation in Eurozone

Two Euro´s Floating A and B

Tue, 06/21/2011 - 07:30 | 1388309 Rynak
Rynak's picture

In a poll last month, 80 percent of people said they refused to make any more sacrifices to get more EU/IMF aid.

What is there left to vote on? Oh wait..... 'mockracy.

Tue, 06/21/2011 - 07:31 | 1388314 topcallingtroll
topcallingtroll's picture

Rynak the greeks are silly.  They remind me of a king who commanded that the tide turn around.

It doesn't matter what they "refuse" to do.  They are going to make more sacrifices one way or another. 

It is interesting how they and most countries will "refuse" to make sacrifices, but by their actions make the sacrifices worse.

Tue, 06/21/2011 - 07:41 | 1388327 Rynak
Rynak's picture

Which will ultimately make a breakdown unavoidable, unless they totally sell out to the lenders.... who will then fuck them over even more. How the fuck do the banksters imagine this to work out anyways? Does anyone even have any working idea at all how this could work?

As i see it, the only question on the table is how much suffering everyone wants. FFS, the entire economic structure of the EMU is unworkable..... accept it and start working on something that does work, instead of wasting everyones time, blood and money on denial.

Tue, 06/21/2011 - 08:15 | 1388416 msamour
msamour's picture

I suppose a good answer to that would be to eliminate all bankers, all lawyers, and all politicians. The oceans are big and deep you know.

Tue, 06/21/2011 - 12:31 | 1389263 el Gallinazo
el Gallinazo's picture

How the fuck do the banksters imagine this to work out anyways?


As David Rockefeller announced semi-publically two decades ago, one of the primary agendas of the world banking cartel is the destruction of the sovereign nation state, so that the world could then be run by enlightened bankers, the equivalent of Plato's philospher kings.  Society would revert politically to a semi feudal state with some central control through the IMF as the central bank and NATO as the primary repressive force to counter revolution.  In this respect, the crushing of Greece into a failed state is even more important than the banksters not taking a loss on their debt.


As many have pointed out, the Euro cannot survive without political union.  This is the next step by the banksters.  They have failed in the past because it has been rejected repeatedly by national referendums.  So now they are on a Naomi Klein course of producing a disaster that would necessitate it.


So the end game is a world government composed of bankster feudal fiefdoms. Serfdom bitchez.

Tue, 06/21/2011 - 08:13 | 1388413 JustACitizen
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Canute - a Danish King of England - had a coterie of flatterers who supposed that he was such a great king that even the tides would turn upon his command. He went through the exercise that is usually referred to in legend to demonstrate that the power of any man - even a king was limited... By the way - he was a believer in "sound money".

Some of the PTB could learn something from him...

Tue, 06/21/2011 - 07:27 | 1388311 John Law Lives
John Law Lives's picture

Greece's debt has continued to grow.  The austerity measures being discussed will result in tens of thousands of jobs in Greece being eliminated.  If Greece can not repay its debt now, how can the loss of tens of thousands of more jobs lead anyone to believe Greece will be able to pay an even larger debt.


Kicking the can down the road... and the can is getting bigger.

Tue, 06/21/2011 - 07:37 | 1388319 Rynak
Rynak's picture


Actually, no. The EU is not necessarily fubar (though, i strongly dislike it's increasingly centralized politics - i don't want an EU gov.... i just want an efficient way for european countries to cooperate with mutual consent, while fully and with no compromises everyone keeping full sovereignty).

The EMU/Eurozone/Euro on the other hand is a stupidity that never ever should even have been introduced.

Tue, 06/21/2011 - 07:58 | 1388362 Rynak
Rynak's picture

What does this have to do with the EU? You know that there is a difference between EU and EMU, right? (To oversimplify it: EU = mainly political union, EMU = the economic union)

Tue, 06/21/2011 - 08:00 | 1388382 John Law Lives
John Law Lives's picture

<<<  What does this have to do with the EU?  >>>

Ask Tyler.


Tue, 06/21/2011 - 08:07 | 1388391 Rynak
Rynak's picture

That article, as the title implies, was written by socgen, not tyler.

Tue, 06/21/2011 - 08:09 | 1388397 John Law Lives
John Law Lives's picture

That article was published on this site which is moderated by Tyler.

Spare this thread your petty semantics.

Tue, 06/21/2011 - 08:17 | 1388409 Rynak
Rynak's picture

My "petty semantics" are:

- differentiating between a political alliance, and an economic alliance. Comparison: The NATO is not a currency. I.e. the end of the dollar does not necessarily mean the end of NATO, doh.

- differentiating between the author of an article, and the one who publishes it (i.e., if one finds a good article, which however in one sentence uses a wrong term, then one may publish it anyways)

So, you know.... spare this site with your dumbness.

Tue, 06/21/2011 - 08:24 | 1388433 John Law Lives
John Law Lives's picture

- Save the lecture, professor.  The EU is formally defined as a political and economic union.  The EU is FUBAR.  That is exactly what I said and it is exactly what I meant.


  - I never said Tyler wrote that article, brainiac.  You falsely asserted that I did.  I said "ask Tyler".  I referenced an article he saw fit to publish on this site.

Spare this site from your equivocation.

Zzzzzzzzzzzzzzz.... (this is the sound of snoring as a direct result of your putting the thread to sleep with your drivel)...

Tue, 06/21/2011 - 08:40 | 1388458 Rynak
Rynak's picture

What are you... 12? This is so lol..... all this wiggling and crap, just to defend yourself from using ONE wrong WORD? You go into defensive "need to be right to save my ego"-mode just for being corrected on the use of a word?!?

If wrong use of a term already shakes your selfconfidence, then what do more significant flaws do? Oh well..... poor being.

Tue, 06/21/2011 - 08:44 | 1388481 John Law Lives
John Law Lives's picture

I did not use a wrong word.  I said the EU is FUBAR.  That is exactly what I said, and it is exactly what I meant.  I also never said Tyler wrote the article.

Zzzzzzzzzzzzzzz...  You are putting me back to sleep.


Tue, 06/21/2011 - 08:54 | 1388510 Rynak
Rynak's picture

*leaves john 8 natos for sweets and then goes to do something more productive*

Tue, 06/21/2011 - 09:01 | 1388521 John Law Lives
John Law Lives's picture

You simply can't admit that you were wrong on both counts, simpleton.



Tue, 06/21/2011 - 07:37 | 1388316 Hedge Jobs
Hedge Jobs's picture

"A Greek default would be a catastrophe" Here we go agian with the threats. Like the current situation is really going well.

they will get this through, look at the markets its a done deal. The only unknown is how the people of greece, and waddel and reed, respond.

Tue, 06/21/2011 - 08:04 | 1388381 Rynak
Rynak's picture

"The world will end if you do not do what i say!"

Tue, 06/21/2011 - 09:35 | 1388665 Withdrawn Sanction
Withdrawn Sanction's picture

It's true of course....the world WILL end...for the bankstas and their pet politicians.

Tue, 06/21/2011 - 07:37 | 1388318 rootProbiscus
rootProbiscus's picture

What about a mention that the Greek government(s), in collaboration with some (all) major banks, hid the fact that they borrowed some of the money. This fact was hidden from the Greek people and from the other Euro member states.
These borrowing were revealed like a rabbit from a hat two years ago and the Greek people are quite rightly asking well we didn't know about it, and did we really get the benefit from it. The loans were purposefully hid, so why should we repay. This is especially so given the corruption rampant in Greece.
Remove these dodgy loans from the books, with repayment of $0 in the dollar, and I am sure that an agreement with the Greek people could be reached.

Tue, 06/21/2011 - 07:41 | 1388337 youngman
youngman's picture

These banks that hid their loans to Greece...you can bet are going to get paid first if they haven´t already been...the crooks get paid first..before the legit loans.....more bonus money for GS..

Tue, 06/21/2011 - 07:37 | 1388320 erklärbär
erklärbär's picture

I wonder how the market will react to either outcome.






Tue, 06/21/2011 - 07:50 | 1388351 BCTwelve
BCTwelve's picture

were you asleep yesterday?

Tue, 06/21/2011 - 08:09 | 1388403 erklärbär
erklärbär's picture

something happened!? Gold a little up, Dax a little down. Certainly not doomsday like ... (I'm fucking ignorant, that's why I'm asking in the first place ...)

Tue, 06/21/2011 - 07:34 | 1388321 Cassandra Syndrome
Cassandra Syndrome's picture

How can they service this debt when the Power companies are going to keep striking. Maybe its just me, but I thought electricity is required to fulfill economic growth ambitions?

Tue, 06/21/2011 - 07:45 | 1388339 qussl3
qussl3's picture

Since when did reality matter?

Tue, 06/21/2011 - 07:34 | 1388322 Gordon Freeman
Gordon Freeman's picture

Who gives a shit anymore?  It's all a foregone conclusion.

Can? meet shoe...

Tue, 06/21/2011 - 07:38 | 1388326 Franken_Stein
Franken_Stein's picture


There will be no market reaction to either outcome.

How could it, when the market is 100% rigged ?


Tue, 06/21/2011 - 07:44 | 1388344 Version 7
Version 7's picture

This is the beginning. Events at the present time are still going linear. Wait for more sovereign defaults to join the Greeks, and the mathematics of chaos will get in charge.

Tue, 06/21/2011 - 07:51 | 1388359 Gordon Freeman
Gordon Freeman's picture

I guarantee that, even if all the PIIGS defaulted, it would not stop the game TPTB are playing.

Tue, 06/21/2011 - 07:58 | 1388377 Version 7
Version 7's picture

The PIIGS default, a coup takes place in one or two, maybe civil war for the most dynamic, banks fail again, stop lending, Dow down 2K pts in a week, social unrest, eg UK leaves the EU, etc, etc.

Use your imagination. TPTB better have a strong knowledge of mathematics of chaos.

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