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Dutch Prepare To "Awaken Sleeping Giant" As GRExit Plans Resume

Tyler Durden's picture


On the inaugural day of the much-awaited holy grail of Europe - the ESM - reports that Dutch diplomats in Athens have been secretly planning for an eventual Greek exit from the eurozone (along four themes - liquidity, energy, communications, and security). "We have deliberately strictly kept this behind closed doors", a Dutch diplomat told Volkskrant, adding "I do not know who has trumpeted." Among the Dutch companies doing business in Greece are Heineken, Unilever, and Philips as one business owner note that they "send cash back to the Netherlands as soon as possible - holding as little money in Greece as possible." While the foreign affairs ministry would not confirm, the paper cites a diplomat who commented: "we do not want to awaken any sleeping giants." We suspect you just did - sshh!


Via Volkskrant (via Google Translate):

Netherlands Dutch companies in Greece began to prepare for a possible Greek departure from the euro. Dutch diplomats in Athens inventory of the risks, planned emergency measures and shared a few months ago in a confidential meeting with companies.


Preparations are sensitive because the Dutch government publicly stressed that Greece should remain in the eurozone. The Greek government is also annoyed speculation about a Greek exit from the eurozone, because the economic recovery more difficult.


"I do not know who has trumpeted," said a Dutch diplomat. "We have deliberately strictly behind closed doors done. We do not want to wake spirits that are not awakened to be made. " Diplomats organized the meeting because in the run-up to the Greek elections in June at Dutch companies growing unrest arose about a possible departure from the euro. During the meeting shared the companies themselves also information about their precautions.


The diplomat: "Everyone was willing to share information provided in strict confidence."


Uncertainty Fears of a Greek exit from the eurozone - 'in jargon grexit'- is the last month eased somewhat, because Greece is a government coalition the power that seem prepared to accept some of the cuts and reforms that are demanded by the European Union and the International Monetary Fund. But there remains much uncertainty.


Among the Dutch companies in Greece are multinationals such as Heineken, Unilever and Philips, but also smaller companies such as travel agencies and yacht brokers. Many companies have recently taken steps to limit the damage of a Greek exit from the eurozone limit. Thus, companies have adjusted their computer so they can quickly switch to a new currency. Or they have an appointment with the head office in case of emergency an employee with a suitcase of euros to Athens comes to workers' pay.


"We demand especially by our customers giving us much faster than before paying," said Tasos Zacharidis, manager of the Greek branch of the Dutch company Den Braven, specializing in adhesives, sealants and foams. 'Self we send our cash as soon as possible to the Netherlands. We ensure that we here in Greece as little money as possible. "


What advice the Dutch embassy to the companies has given is not entirely clear. The diplomats had initially hoped to build on what colleagues in Argentina prepared when that country in 2001 and 2002 financial crisis. But there was little they could find about. So went the diplomats themselves to work. They copied the emergency measures of the embassy, ??which covers such matters as earthquakes, and they thought themselves after.


So they came on four themes: liquidity, energy, communications and security. The editors of the Times, the Ministry of Foreign Affairs requested further information on the opinions and to disclosure of the relevant documents. According to the Department, no information can be provided, because the pieces' also security related aspects. "We never statements about safety," said a spokesman.


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Mon, 10/08/2012 - 17:50 | 2869208 ShortTheUS
ShortTheUS's picture

Only after Greece has lost everything that it will be free to do anything...


Mon, 10/08/2012 - 17:59 | 2869228 Thomas
Thomas's picture

You can see the computer translation remnants in the prose.

Mon, 10/08/2012 - 18:53 | 2869338 The Alarmist
The Alarmist's picture

The Dutch, being thoroughly familiar with euthanasia, know in their hearts what would be appropriate, but the Euro is apparently a mutual suicide pact.

Tue, 10/09/2012 - 00:07 | 2869869 Peter Pan
Peter Pan's picture

Brilliant, but change your name to REALIST.

Tue, 10/09/2012 - 00:10 | 2869872 andrewp111
andrewp111's picture

As William Hague said: "A burning building with no exits."

Mon, 10/08/2012 - 22:16 | 2869706 arizona11912
arizona11912's picture

Greece will remain in the Euro-zone. Bank on it!! The EU will continue on its path to Eurobonds in due time.

Mon, 10/08/2012 - 17:46 | 2869212 BurningFuld
BurningFuld's picture

Merkle is coming to Greece on Tuesday to anounce they have been kicked out of the EU. Ba Ha!

Mon, 10/08/2012 - 17:49 | 2869218 Stoploss
Stoploss's picture

IMF now screaming bloody murder, global catastrophe, going to Ben and Wen a whining and a cryin'.

Mon, 10/08/2012 - 17:52 | 2869223 BandGap
BandGap's picture

Does everyone sound like Yoda or is it me?

Mon, 10/08/2012 - 18:00 | 2869229 Thomas
Thomas's picture

It's you. Must be a narrow band gap (or it is the translation software.)

Mon, 10/08/2012 - 18:04 | 2869237 BandGap
BandGap's picture

I am having issues these days in a world where bad news is good.

The Dutch are just the people to get this thing rolling. Thrifty assed people, that is for sure. 

Mon, 10/08/2012 - 18:28 | 2869291 CPL
CPL's picture

No, they are next in line after France.


It's called clearing the field at this point.  Gotta make room to tear apart the next batch of sovereigns.  This entire thing is a process.  A beginning and an end.

Tue, 10/09/2012 - 07:09 | 2870119 Acet
Acet's picture

Dutch grammar as used in Holland has the sentence structure being (roughtly):

Subject + verb + other-non-verb + other-verbs

For example: "I have the pencil to my sister given"

Google translator probably translates at a lower level than sentences hence it doesn't reorder the whole sentence to English.


Mon, 10/08/2012 - 18:03 | 2869234 Dr. Engali
Dr. Engali's picture

There's only two things I hate in this world. People who are intolerant of other people's cultures and the ... the Dutch

Mon, 10/08/2012 - 18:18 | 2869263 Racer
Racer's picture

The US is WAAAAY above the rest of the world on your hate list then!

Mon, 10/08/2012 - 18:51 | 2869330 Tango in the Blight
Tango in the Blight's picture

I'm Dutch, would you care to step outside?

Mon, 10/08/2012 - 19:46 | 2869458 Jendrzejczyk
Jendrzejczyk's picture

Put the guns down and take off the nose, he'll be out in a sec.

Mon, 10/08/2012 - 21:57 | 2869667 A Nanny Moose
A Nanny Moose's picture

Outside? Why, is that where we will find his fahza?

Mon, 10/08/2012 - 19:31 | 2869426 frenzic
frenzic's picture

I hate intolerant people just as much as you do. That is not why I junked you.

Tue, 10/09/2012 - 02:55 | 2869951 Ethics Gradient
Ethics Gradient's picture

Intolerance? Of course we're all intolerant. And yes, I'll speak for all of you in this.

I'm intolerant of stupidity, those who wish to reduce my liberty. I'm intolerant of thieves and murderers. I don't sit there and say, meh, "I'm tolerant of that - 'cos tolerance is a good thing".

The thing is, those things that I'm intolerant of are a product of my experiences and genetics - tempered with whatever strength of character I can muster. Each to their own... And so yes, I accept other's will be intolerant. If it's inconsequential, hey, you know what? I might even tolerate it...

Don't fall for this cultural marxist clap-trap. Grow a back bone.

Mon, 10/08/2012 - 20:37 | 2869526 TWSceptic
TWSceptic's picture

What's your problem? The Dutch generally have more common sense than the rest of the world including the US.


You and the other 13 probably base your negative emotions about us on some MSM BS.

Mon, 10/08/2012 - 20:57 | 2869550 Dr. Engali
Dr. Engali's picture

It's a movie line meant to be ridiculous from Austin Power Gold member...Sheesh.

Mon, 10/08/2012 - 22:02 | 2869672 A Nanny Moose
A Nanny Moose's picture

Yeah..this went right over everybody fucking heads and right into the cesspool of politically correct false indigniation.

Their clue should have been the duality of your post.

Junk the fuck away you fuckers.

Tue, 10/09/2012 - 07:14 | 2870127 Acet
Acet's picture

Well, the original post makes a good way to separate those that actually think critically about what they read and those that just react.

The tinyiest bit of critical thinking would've teased out the self-contradictory nature of the text.

Tue, 10/09/2012 - 01:47 | 2869926 Rogue Trooper
Rogue Trooper's picture

I understand your 'frustration' Dr.... an option is to use sarq-on tag for the 'tards! On the other hand its good to read the dumb posts....

Tue, 10/09/2012 - 06:30 | 2870073 Dr. Engali
Dr. Engali's picture

Sometimes I think things are so obvious that you don't need a sarc tag. I guess I underestimate the stupidity of some people.

Mon, 10/08/2012 - 20:53 | 2869569 Theosebes Goodfellow
Theosebes Goodfellow's picture

Ahh my good doktor, I see you are toit, toit like a tiger.

Tue, 10/09/2012 - 00:13 | 2869879 SanOvaBeach
SanOvaBeach's picture

I'm dutch!  Fuck u you racist prick..............

Tue, 10/09/2012 - 06:26 | 2870068 Dr. Engali
Dr. Engali's picture

Read the line again. A little slower this time. Maybe you'll get it. Then again maybe not.

Tue, 10/09/2012 - 03:15 | 2869955 debtor of last ...
debtor of last resort's picture

Give all Mexican immigrants Medicare, a house and free money every month as soon as they enter your country. And then experience the Mexicans shitting on your culture, like muslims in the Netherlands. Mi casa es su casa crap.

Mon, 10/08/2012 - 18:02 | 2869235 gojam
gojam's picture

' I got chills, they're multiplyin', and I'm losin' control..............'

Mon, 10/08/2012 - 19:08 | 2869376 NotApplicable
NotApplicable's picture

Ya know, I really didn't need that earworm.

Thanks. Thanks, a lot.

Mon, 10/08/2012 - 18:09 | 2869248 a growing concern
a growing concern's picture

Opa, bitchez!

Mon, 10/08/2012 - 18:19 | 2869266 holdbuysell
holdbuysell's picture

Your comment caused a flash vision in my mind of the elite such as Lagarde line dancing ala PSY's Opa Kangnam Style. Shudder.

Mon, 10/08/2012 - 18:31 | 2869302 CPL
CPL's picture

Open Condom Style!!!!


<half listened to>

Mon, 10/08/2012 - 19:10 | 2869380 NotApplicable
NotApplicable's picture

You need to drink more. Sobriety is obviously having a detrimental effect upon your mind.

Mon, 10/08/2012 - 19:51 | 2869448 frenzic
frenzic's picture


Mon, 10/08/2012 - 18:18 | 2869262 janchup
janchup's picture

The Dutch are having a property crash at the present time.

Mon, 10/08/2012 - 18:27 | 2869277 zilverreiger
zilverreiger's picture

This piece should be mainly seen as dutch diplomats telling dutch companies to cover their asses since june for the eventuality of a grexit, and not as some new development. (i'm dutch and not google impaired)

Mon, 10/08/2012 - 19:16 | 2869392 NotApplicable
NotApplicable's picture

Google impairment? Why it's a comedy distillation device!

What I really like about Google Translate is that so many people repost flawed translations from it, that it is getting even dumber from using them to further train itself.

Eventually, it's gonna go full-retard.

Mon, 10/08/2012 - 20:42 | 2869552 SafelyGraze
SafelyGraze's picture

google impairment indeed

searching for dutch only brings up stuff like this and this

en zo voort

volledige retard, inderdaad

Mon, 10/08/2012 - 19:34 | 2869433 ebworthen
ebworthen's picture

I wonder what Gernman companies are doing?

I think the Dutch were at this game earlier and better at it than the Germans (trade, I mean).

Mon, 10/08/2012 - 20:07 | 2869487 Tango in the Blight
Tango in the Blight's picture

The German Mark was never a reserve currency. The Dutch Guilder was. Tyler posted a timeline of world reserve currencies in history today which showed that. In the 17th century we Dutch were badasses, beat the English, the French and several German states at the same time. And later helped the Americans when they fought the English. Now we don't matter much anymore. We only want to have a stable currency and be able to trade with the world. Guess that's too much to ask in these days.

Mon, 10/08/2012 - 20:16 | 2869500 Uber Vandal
Uber Vandal's picture

Everyone forgets that New York was once New Amsterdam.

Imagine how much different the US would have been were it more a Dutch influence vs. England.

I guess one could just look to South Africa.

Mon, 10/08/2012 - 20:54 | 2869568 tip e. canoe
tip e. canoe's picture

not to mention that they built some serious fucking housing.   some of them still standing solid after 300 + years...and still aeshetically gorgeous (see upstate NY for example).   too bad they had to slaughter a bunch of redmen to do it.

Tue, 10/09/2012 - 07:26 | 2870155 Acet
Acet's picture

Well, the Egyptians were once badasses. And the Greeks, the Italians (the Romans), the Portuguese, the Spanish, the English, the Americans ...

You'll notice from the list that it goes from longest ago fallen empire to more recently fallen (or in the case of the last one, now going through the pains of internal collapse and fall).

As a Portuguese and now living in England I can tell you (from both countries) that engaging in the kind of masturbatory nationalism which is to claim one's greatness as nation and specialness due to past glories is just a way of excusing the mediocrity of today's people and society in those countries.

I love the Dutch and Dutch society, used to live over there, spreek zelfs nederlands (I even speak dutch). Would hate to see the Dutch go down that road ...


Tue, 10/09/2012 - 07:56 | 2870207 Urban Redneck
Urban Redneck's picture

same same, but different.

Tue, 10/09/2012 - 00:06 | 2869868 andrewp111
andrewp111's picture

Isn't a Spexit or an Italexit more likely than a Grexit?

Mon, 10/08/2012 - 18:24 | 2869282 noses
noses's picture

"I don't know who has trumpeted"


I bet it was the elephant in the room. But it's better that way - imagine it hat farted.

Mon, 10/08/2012 - 18:28 | 2869290 THX 1178
THX 1178's picture

Ahhhh the "hat fart"... the prank of kings and slaves alike.

Mon, 10/08/2012 - 20:58 | 2869574 Theosebes Goodfellow
Theosebes Goodfellow's picture

So THX, I have to ask. Can that be done without an ass hat?

Mon, 10/08/2012 - 18:49 | 2869325 Supernova Born
Supernova Born's picture

My hovercraft is full of eels.

Mon, 10/08/2012 - 19:37 | 2869442 Arthur Two Shed...
Arthur Two Sheds Jackson's picture

Take off your panties,Sir William......

(points at Merkel)

I cannot wait til lunchtime.



Mon, 10/08/2012 - 20:45 | 2869557 SafelyGraze
SafelyGraze's picture

Mijn hovercraft zit vol palingen.

Tue, 10/09/2012 - 07:25 | 2870145 MillionDollarBoner_
MillionDollarBoner_'s picture

Mijn hovercraft zit vol palingen ;o)

Edit: Damn, beaten to it - by a sheep !;O(

Mon, 10/08/2012 - 19:15 | 2869391 chump666
chump666's picture

The Dutch are in trouble.

Kick Greece already. Europeans love masochism.

Mon, 10/08/2012 - 21:04 | 2869579 THX 1178
THX 1178's picture

"We're in a lot of trouble!" -Howard Beale

Mon, 10/08/2012 - 19:21 | 2869405 q99x2
q99x2's picture


Can somebody please tell me that much? It has been 2 1/2 years of pure torture for everyone. A simple yes or no will do.

Mon, 10/08/2012 - 19:30 | 2869419 JohnG
JohnG's picture

Yes or No.

You walked right in to that. :)

Mon, 10/08/2012 - 19:32 | 2869430 ebworthen
ebworthen's picture

Were you a page with a CONgressperson?

Or an intern at an attorney's office?

Not that there is a difference but...


Mon, 10/08/2012 - 19:42 | 2869449 JohnG
JohnG's picture

Nope, just an old database guy.  Very old.

Mon, 10/08/2012 - 19:46 | 2869459 ebworthen
ebworthen's picture

0 or 1, on or off.

For anything to work, you must choose a combination of both.


Mon, 10/08/2012 - 19:58 | 2869470 JohnG
JohnG's picture

That must be why my 8 ball keeps coming up with "Maybe."

Mon, 10/08/2012 - 20:36 | 2869538 DeadFred
DeadFred's picture

You needed to be a physicist to get the correct answer. <Yes AND No> No one has looked in the box yet so Dr. Schrodinger's cat is still half alive and half dead. In this case it would be more accurate to say 95% dead and 5% alive. My question in line with the poor guy who's been waiting so long is, When will they finally open the stupid box?!

Mon, 10/08/2012 - 22:17 | 2869708 arizona11912
arizona11912's picture

NO they wont.

Mon, 10/08/2012 - 20:00 | 2869474 americanspirit
americanspirit's picture

Like the Dutch ( as I do) or hate them ( though I find it hard to understand why) there can be no question that as a whole Dutch society is among the world's most successful, civil, tolerant and forward-thinking societies. Sometimes muct to their detriment, as the humane but foolish decision to allow hundreds of thousands of pathetically dependent immigrants to flood into their country, which has caused and will cause them no end of grief. If nothing else the Dutch are practical people - so if you want to know where the EU is ultimately going to go, watch the Dutch very carefully.

As an aside, the Netherlands is the only country in the world where I have lived where anyone will stoop to pick up the smallest coin from the sidewalk. Toss a couple of pennies on any American street and watch how many people pass by. It is an instructive exercise.

Mon, 10/08/2012 - 20:35 | 2869533 Tango in the Blight
Tango in the Blight's picture

Dutch people are miserly but can also be generous. Hence the immigrants and the lavish foreign aid. But this also has resulted in a backlash. That's why first Pim Fortuyn and now Geert Wilders got massive votes. The interesting thing is that they also got support from non-islamic immigrants.

Tue, 10/09/2012 - 05:51 | 2870043 blabam
blabam's picture

The Netherlands going Fascist wouldn't suprise me one bit. Shitload of muslims with high social tensions in "good times". Bad times doesn't bode well for internal stability. Wilders wil come back with a vengeance.

Tue, 10/09/2012 - 08:32 | 2870277 Joe A
Joe A's picture

Thank you for your kind words regarding us, the Dutch. Spot on about picking up pennies from the sidewalk but we are also quite generous. You are also spot on about the accepting pathetically dependent immigrants. That is due to the leftist Gütmenschen we have. Apparently they are of the opinion that we should accept all, even the ones that hate us, and that the taxpayers will gladly pay for all those who only come to take advantage of social services without making a single valuable contribution to society. You see, some Dutch feel a moral obligation to save the world and 'do something'. There is an irony about NL. The country for centuries so much wanted to play with the big boys but due to the country's size and population cannot be on the same level. But in trying so hard, the country is relatively more prosperous and powerful than some of these big players.

Mon, 10/08/2012 - 20:05 | 2869483 deerhunter
deerhunter's picture

Being Dutch myself I know a lot of Hollander jokes.  Know how to make a Hollander crazy? Put him in a round room and tell him there is a penny in the corner.

Non Dutch joke,  Know how to tell when a senator has read a book?  All the pages are bent over.

Mon, 10/08/2012 - 20:17 | 2869502 Banksters
Banksters's picture

The cock sucking bankers will bail themselves out and then tell the peasants to pull themselves up by their bootstraps. Revolt bitchezzzzz

Tue, 10/09/2012 - 00:05 | 2869866 Joebloinvestor
Joebloinvestor's picture

Plan "B"

Tue, 10/09/2012 - 00:13 | 2869882 Peter Pan
Peter Pan's picture

It has been some months since the cash balances of foreign companies operating in Greece have been disappearing, so this story is not new. Many German companies have also closed shop in Greece and have either increased capacity back in Germany or taken up the increasing slack in German capacity. All in all, Greece is sinking and her eyeballs are at the waterline but the Europeans  are headed that way as well.

Tue, 10/09/2012 - 02:02 | 2869930 d_taco
d_taco's picture

It is old news. Zero-hedge behind the curve

Heineken moved its money to triple AAA country Zimbabwe in the North Sea (UK) this spring as we all know

These Heineken people have to move their money out Zimbabwe in The North Sea one point in time.


Tue, 10/09/2012 - 03:39 | 2869936 Joe A
Joe A's picture

What is the really big surprise in this story is that the diplomats and civil servants were actually capable of thinking for themselves! Also, the thing is that due to the fiscal constructions in the Netherlands, all that money can be moved to the Cayman Islands with the flip of a switch. Not for nothing do many companies have their headquarters in the Netherlands. Hell, even Bono -the good doer- and the Rolling Stones are registered there.

The national bank of the Netherlands however said that they don't have a plan B. But they don't intend to bailout the taxpayer anyway.

edit: the timing of this 'revelation' is interesting now that Merkel is in Greece.

Tue, 10/09/2012 - 02:43 | 2869947 slackrabbit
slackrabbit's picture

Feline Excape!

To me this confirms that the plans I mentioned earlier are already in motion

Tue, 10/09/2012 - 03:12 | 2869953 DutchDude
DutchDude's picture

LOL, every company has a grexit strategy; that's common sense; something you'd need tot run a company and be even sligthly succesful.

I bet every EZ country told their offshore companies excactly the same thing; nothing Dutch about that.

Tue, 10/09/2012 - 04:41 | 2869997 Vigilante
Vigilante's picture

Even the Greek govt has a Grexit strategy..

...or so I hope lol...

Tue, 10/09/2012 - 06:22 | 2870063 giggler123
giggler123's picture

Not so closed doors now then?

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