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Greeks Panic As Drug Firms Slash Medicine Supplies By 90% On Bad Debts

Tyler Durden's picture


Greece is facing a serious shortage of medicines amid claims that pharmaceutical multinationals have halted shipments to the country because of the economic crisis and, as The Guardian reports, concerns that the drugs will be exported by middlemen because prices are higher in other European countries. Rubbing further salt into the Greek (un-medicated) wound, the Red Cross slashed its supply of donor blood to Greece because it had not paid its bills on time. Pharmacies in Greece describe chaotic scenes as clients desperately search from shop to shop for much-needed drugs. Greece's Pharmaceutical Association said "around 300 drugs are in very short supply," adding that "It's a disgrace. The companies are ensuring that they come in dribs and drabs to avoid prosecution. Everyone is really frightened." The fear for the multinationals remains that wholesalers can legally sell to other nations at higher prices and a "combination of Greece's low medicine prices and unpaid debt by the state." Lines form early and 'get very aggressive' one pharmacy exclaimed, "We have reached a tragic point."

Via The Guardian,

Greece is facing a serious shortage of medicines amid claims that pharmaceutical multinationals have halted shipments to the country because of the economic crisis and concerns that the drugs will be exported by middlemen because prices are higher in other European countries.


Hundreds of drugs are in short supply and the situation is getting worse, according to the Greek drug regulator. The government has drawn up a list of more than 50 pharmaceutical companies it accuses of halting or planning to halt supplies because of low prices in the country.




Separately, it was announced on Tuesday that the Swiss Red Cross was slashing its supply of donor blood to Greece because it had not paid its bills on time.


Chemists in Athens describe chaotic scenes with desperate customers going from pharmacy to pharmacy to look for prescription drugs that hospitals could no longer dispense.




"Companies are ceasing these supplies because Greece is not profitable for them and they are worried that their products will be exported by traders to other richer countries through parallel trade as Greece has the lowest medicine prices in Europe," said Professor Yannis Tountas, the president of the Greek drug regulator, the National Organisation for Medicines.




The body representing pharmacists, the Panhellenic Pharmaceutical Association, confirmed the shortages. "I would say supplies are down by 90%," said Dimitris Karageorgiou, its secretary general. "The companies are ensuring that they come in dribs and drabs to avoid prosecution. Everyone is really frightened. Customers tell me they are afraid [about] losing access to medication altogether." He said many also worried insurance coverage would dry up.


"Around 300 drugs are in very short supply and they include innovative drugs, medications for cancer patients and people suffering from clinical depression," said Karageorgiou. "It's a disgrace. The government is panic-stricken and the multinationals only think about themselves and the issue of parallel trade because wholesalers can legally sell them to other European nations at a higher price."




"the reasons being a combination of Greece's low medicine prices and unpaid debt by the state", he said.



"Lines will form in the early morning or late at night when you're on duty," said Karageorgiou, who is based in Thessaloniki. "And when the drugs aren't available, which is often the case, people get very aggressive. I'm on duty tonight and know there will be screaming and shouting but in the circumstances I also understand. We have reached a tragic point."


Greece's social insurance funds and hospitals owe pharmaceutical companies about €1.9bn (£1.6bn), a debt going back to 2011, with companies expecting payments of €500m this month.


Some companies admitted they were not supplying some medicines.




The pharmaceutical industry says many shortages are because of products being exported through parallel trade, and has urged the government to address set drug prices. Under EU trade rules, the free movement of goods is allowed. So for example, while a pharmaceutical company may sell a medicine to a wholesaler or pharmacist in Greece, the wholesaler or pharmacist can sell these medicines on to wholesalers in other countries. Parallel traders do this to make money on the price differences between countries.


"The government needs to correct these wrong prices to avoid a surge of exportation. Greece's drug prices are 20% or more lower than the lowest prices in Europe," said Konstantinos, who is also the general manager of Novartis in Greece.




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Thu, 02/28/2013 - 10:24 | 3285458 francis_sawyer
francis_sawyer's picture

Looks like I picked the RIGHT day to quit doing amphetamines...

Thu, 02/28/2013 - 10:27 | 3285480 TideFighter
TideFighter's picture

The future of Obama care...

If you are a prepper, this is why meds are at the top of your list, right under water source. 

Thu, 02/28/2013 - 10:29 | 3285496 philipat
philipat's picture

"The problem with socialism is that, eventually, you run out of other peoples money" - M Thatcher

Thu, 02/28/2013 - 10:32 | 3285508 LawsofPhysics
LawsofPhysics's picture

as opposed to fascism where a select few just print it out of thing fucking air to continue the theft of assets of real value.  Wake the fuck up moron.

Thu, 02/28/2013 - 10:42 | 3285527 philipat
philipat's picture

The end result is the same. Moron. No free lunch.

And I think you meant to say "Thin" fucking air, although the concept of air doing that is something new to me?

Thu, 02/28/2013 - 10:42 | 3285552 new game
new game's picture

blood for blood...

that is how it goes til one side gets low or run out of blood...

Thu, 02/28/2013 - 10:50 | 3285580 LawsofPhysics
LawsofPhysics's picture

Correct.  fuck the motherfucking paper-pushers, time to return compensation to those who's labor is of real fucking value, that's the bloody point the dumb fuck above fails to get.  Fuck him and any other paper-pushing fucks. Tick tock, bitchez.

Thu, 02/28/2013 - 10:55 | 3285604 philipat
philipat's picture

Translated into daily language, I think you meant to say, with the expletives deleted, "The workers need to revolt (Although many would say they have always been revolting) and rise up against the capitalist swine" Or something like that. Cuba awaits you. No, wait, North Kores ia a true workers paradise..

Thu, 02/28/2013 - 11:01 | 3285629 LawsofPhysics
LawsofPhysics's picture

Wrong.  It's really fucking simple.  That which cannot be sustained, won't be.  The cognative disonance of the earth is frightening considering how fragile the supply chains really are.  Time to thin the fucking herd and there are lots of over-compensated fucks in all countries.  Humanity isn't just another ponzi, it's the ponzi.

All eCONomies are really local (especially when the supply lines break). Get your tribe in order and hedge accordingly (it's all you can really do anyway). 

Thu, 02/28/2013 - 11:38 | 3285789 philipat
philipat's picture

Thanks. As I sit here on the beach in Bali enjoying an after dinner glass of wine, I do hear what you are saying. Although not entirely convinced....

BTW, I started with nothing and retired at 50 so don't give me any Socialist shit..

Thu, 02/28/2013 - 12:09 | 3285860 LawsofPhysics
LawsofPhysics's picture

Good for you.  My tribe and I will be just fine.  Unless you are growing your own food and have a security team that can drop potential threats at 300 yards, enjoy that wine while it's available.  I have two colleagues with such plantations/teams in barbados already.  The point being that regardless of how successful you have been in the past.  All paper promises will be worthless in the not so distant future so hedge accordingly.

Thu, 02/28/2013 - 12:13 | 3285945 philipat
philipat's picture

Actually, Barbados is quite a long distance from Bali. But, Yes, we do do have extensive lands here upon which to grow food. And do.

Thu, 02/28/2013 - 12:45 | 3286134 Kirk2NCC1701
Kirk2NCC1701's picture

Sounds familiar.  Simon Black, dat you?  ;-)

Thu, 02/28/2013 - 15:45 | 3287100 Totentänzerlied
Totentänzerlied's picture

You stole John Romero's plot. Give it back!

PS: Those security teams will drop your colleagues at 0 yards should they turn their backs. Tribalism ain't nothin' to fuck with and you don't know the first thing about it.

Thu, 02/28/2013 - 15:23 | 3286955 The_Dude
The_Dude's picture

Time to thin the fucking herd and there are lots of over-compensated fucks in all countries.


Feel free to start the thinning with yourself....My untrained assesment of your attitude is that you are one of the type of people that got us into the f'ing mess...

Thu, 02/28/2013 - 11:04 | 3285640 Kaiser Sousa
Kaiser Sousa's picture

Hey Greek peoples - 

let me simplify things for you....

either hang the bankers and your government they control or live like the serfs and suffering slaves your have all out of empathy for you...

the bankers must be eradicated.............................

Thu, 02/28/2013 - 11:07 | 3285659 TruthInSunshine
TruthInSunshine's picture

"Physicians" in the middle ages used leeches as part of blood letting therapies as a main staple of their medical tool kit.

Now, the fiat banksters use this method as part of their economic liberty repression toolkit.

Thu, 02/28/2013 - 11:32 | 3285767 CPL
CPL's picture

There were many types of healers in the middle ages.  Clinical Physician is a very new practice, the idea of ancient Greek philosophers practicing 'medicine' is very misunderstood.  They weren't doctors, they were mad scientists.

Most people understood though there was always someone kicking about that had lore or the touch.  Even something like modern dentistry isn't founded in the medical field.  Traditionally it was the local black smith that performed tooth pulling and haircuts (or made and sold the tools to perform the tasks).

People are going to have to learn how to identify people that have the knack.

Thu, 02/28/2013 - 12:30 | 3286038 OldE_Ant
OldE_Ant's picture

I always thought 'practicing medicine' was an accurate statement.

They are 'practicing'.

Tell me when you are done practicing and have it down, until then keep 'guessing' you mother fuckers.

Thu, 02/28/2013 - 13:56 | 3286473 Jonas Parker
Jonas Parker's picture

"Medicine is an art. Science is merely a tool"

Thu, 02/28/2013 - 15:47 | 3287124 Totentänzerlied
Totentänzerlied's picture

"People are going to have to learn how to identify people that have the knack."

No one ever did before. Come now, surely you know the failure rate was absolutely atrocious and successes were accidental and miraculous.

Thu, 02/28/2013 - 12:12 | 3285941 Harbanger
Harbanger's picture

"Greek people...either hang the bankers and your government they control or live like the serfs and suffering slaves your have all out of empathy for you..."

Wouldn't that be the German banks?  I mean who enabled them to be in dedt in the first place?  German banks in the eurozone are the equivalent of the Fed in the US.  They continue to "bailout"  Greece through bond roll-overs.

Thu, 02/28/2013 - 12:55 | 3286186 Kirk2NCC1701
Kirk2NCC1701's picture

Harbinger (of truth): Yup, you got it!  The idea (for the Dealer) is to swap debt (bondage) for more debt (more bondage), until you take everything 'they' (Addicts) got, and enforce your worldview upon them.  /Ah, I love the smell of fiat-capitalism in the morning.  Smells like victory. /sarc

Veni, Vidi, Vinci - Julius Ceaser

Vidi, Vinci, Veni - Euro banksta gangsta

Thu, 02/28/2013 - 10:44 | 3285562 Hobbleknee
Hobbleknee's picture

The socialists are money-printers too.

Thu, 02/28/2013 - 10:45 | 3285569 CH1
CH1's picture

Wake the fuck up moron.

You're a smart guy, LoP. Too bad you're also an asshole.

I was hoping you'd eventually get over it. So far, no progress.

Thu, 02/28/2013 - 10:50 | 3285583 LawsofPhysics
LawsofPhysics's picture

Being a "nice guy" does not lead to any real change or solutions.  Just ask any successful business owner.  Life is hard, get the fuck over it.

Thu, 02/28/2013 - 11:02 | 3285632 CH1
CH1's picture

I see... the virtue of being an offensive asshole.

Thu, 02/28/2013 - 11:11 | 3285650 LawsofPhysics
LawsofPhysics's picture

"Oh, I am sorry, did I offend you?  Oh and another thing, fuck you!" - Suicidal Tendencies

Another political correct douchebag.  Go fuck yourself, maybe you needed to be offended.

Wake the fuck up to the socialized/fascist disaster that America has become asshole.  How much do we spend on killing (military) and supposedly saving (healthcare) compared to everyone else in the fucking world?!?!?!? fucking idiot.  Yet another walking contradiction.

Thu, 02/28/2013 - 15:48 | 3287132 Totentänzerlied
Totentänzerlied's picture

Flattery will get you everywhere.

Thu, 02/28/2013 - 11:07 | 3285662 new game
new game's picture

just observing for 56 years and i see that people with the most money are without a doubt people i don't want to be like. yea they are fucking asholes, big fucking time, just the nature of greed that seems to cnsume certain fuckheads. moar is never enough, and ultimatly they use their booty to gain ever increasing lust for power. the checks an balance are not working(limited government-thank you supreme court for uphold the constitution, oh and a corp is an individual-ya sure)...

Thu, 02/28/2013 - 11:37 | 3285788 A Nanny Moose
A Nanny Moose's picture

Who pissed in your Cheerios this morning? Because somebody takes up a particular position on one side of a corrupt, oppressive system, that will oppress you both equally, he is now your enemy?

Look at how easily we allow ourselves to succumb to the divide on conquer.

Thu, 02/28/2013 - 12:01 | 3285879 Kirk2NCC1701
Kirk2NCC1701's picture

1. The cute line about "Socialism is..." is a good punch-line, IF we actually had 'socialism' AND we had honest money.  We have neither. 

Instead of 'socialism' or 'capitalism', we have a Crony Capitalism or a feudal Plutocracy.  No "money" is being stolen from the rich to support the poor, as the whole monetary system is totally FUBAR.  Don't forget that!  When 'confetti money' is created out of nothing, giving confetti money to the poor and rich distorts everything.  The poor spend it on basics to survive, the rich spend it on acquiring more real (primary and secondary wealth) assets.  Thus the wealth-transfer process continues -- per the Rothschild brilliant plan:  "Give me control of a nation's money supply, and I care not who makes its laws".

2. No need for two smart guys to be fighting with each other -- a 'bad hair day' notwithstanding.  While the peons (dumb or smart, ignorant or informed) squabble, the rich get richer -- they just keep transferring real wealth from your pockets to theirs.  That's why...

"That's why I'm richer than you are." - Jamie Dimon

Thu, 02/28/2013 - 11:40 | 3285802 WillyGroper
WillyGroper's picture

Right. The peoples money going to multinationals.

Thu, 02/28/2013 - 10:40 | 3285517 MassDecep
MassDecep's picture

Really start investigating natural ways of curing your disease instead of using artificial drugs that cause more problems than they alleviate.

The problem is the psychotropic drug withdrawal which will cause many mass causalties.  Of course, the gun ban will help in this matter .../sarc 

Thu, 02/28/2013 - 13:51 | 3286439 CPL
CPL's picture

Look up Effexor withdrawl, it can range from light neuropathic problems and lethal.

It's now an acceptable treatment for childhood ADHD, like being fast and smart has been a problem for the human race.  It's all so amazingly crooked.

Thu, 02/28/2013 - 10:35 | 3285522 icanhasbailout
icanhasbailout's picture

I've lived without PhRma products for decades, the "need" for these things in most cases is entirely psychological.


Speaking about that, isn't it going to be fun times when American addicts of cognitive dissonance suppressors all get forced into withdrawal at the same time?

Thu, 02/28/2013 - 11:33 | 3285776 john39
john39's picture

same here.  Have not seen an MD in a decade or longer.  Maybe take an advil a couple times year.... otherwise, went totally holistic and have a much higher quality of life than before.  The medical system is part of the matrix, used for mental and physical control.  How many sheep are totally owned because they are terrified of losing their health insurance?  In reality that insurance is a total waste as it secures, at great cost, harmful "treatment" that actually works against your well being (with the possible exception of traumatic injury care).  If you can't see that, you are trapped in the mind control.

Thu, 02/28/2013 - 13:52 | 3286447 CPL
CPL's picture

Nothing that good excerise, good food and voracious reading habits can't cure.

Thu, 02/28/2013 - 15:54 | 3287165 Totentänzerlied
Totentänzerlied's picture

Crohn's disease, lactose intolerance, celiac disease, Schogren's Syndrome, Tay-Sachs' Disease - all can be cured with your wisdom? That's fuckin' news to me. Sounds like you're confusing "cure" with "treat", like a fool. At least the allopathic doctors are honest when they admit they can't cure virtually anything, unlike you.

Thu, 02/28/2013 - 10:41 | 3285545 Vashta Nerada
Vashta Nerada's picture

The US is going to do the same without the burden of joining the euro.  All it takes is a socialized medicine law.

Thu, 02/28/2013 - 10:46 | 3285571 Hobbleknee
Hobbleknee's picture

The US already has socialized medicine.  In fact, more federal dollars are spent per capita than Europe.

Thu, 02/28/2013 - 11:19 | 3285719 LawsofPhysics
LawsofPhysics's picture

Bingo, the commentor above is another classic walking contradiction.  Time to start believing your "lying eyes".  How much does the U.S. spend on saving (healthcare) and killing (military) people compared to the rest of the world again?  Stupid fucking sheep.

Thu, 02/28/2013 - 15:55 | 3287171 Totentänzerlied
Totentänzerlied's picture

Rhetoric is not your strong point, stick to short, curse-laden, self-righteous rants informing us of how superior you are.

Thu, 02/28/2013 - 12:17 | 3285965 Kirk2NCC1701
Kirk2NCC1701's picture

When obscene amounts of fiat currency aka 'money' is flowing within the system and more is added each month, the greed principle goes unchecked.  It is not constrained by the usual checks & balances of a healthy economic and political system.  In the sick economy, the 'money' is just moving from one bubble to another, thus inflating 'asset' prices, and thus creating a series of 'rackets', rather than growing businesses. 

Thus Education and Health have gone from a "national interest", to becoming a "business", to becoming a "racket".  Be it the education business/racket or health/sick business/racket.  It's all a racket now.  The proof is in the pudding:  The stats of highest per capita spending resulting in lowest health and education stats in the industrial/western countries is indicative of this FUBAR situation in the US.

Thank the guys who removed all the checks & balances in the system, and the idiots who voted them in.  Who was it again who said that a republic dies when politicians figure out how to promise people stuff with their money?  Yeah.

Thu, 02/28/2013 - 10:54 | 3285602 gaoptimize
gaoptimize's picture

"If you are a prepper, this is why meds are at the top of your list, right under water source." -TideFighter

Whether you are a prepper or not, among the highest priorities should be to reduce your vulnerability to, and dependency on, the sick care system.  Having a healthy diet and lifestyle is no longer only a desirable objective, it will detemine your survivability.

Thu, 02/28/2013 - 11:07 | 3285658 pods
pods's picture

It is counterproductive, expensive and a waste of time and resources to stockpile drugs.

They have a limited shelf life, have serious side effects, and 90% of them are merely maintenance drugs for chronic disease.

Instead of antibiotics, stockpile a couple bottles of CS.  Maybe have a couple bottles of advil, vitamin d and a multi vitamin.

But stockpiling drugs is a waste of time and resources.

Spend that time instead on finding ways to NOT need drugs.



Thu, 02/28/2013 - 11:25 | 3285743 Agent P
Agent P's picture

Pardon my ignorance, but what is CS?

Thu, 02/28/2013 - 11:49 | 3285831 pods
pods's picture

Sorry, Colloidal Silver.  Potent antibiotic.  Have not seen any effect on viral pathogens, but for bacterial it is much better than antibiotics.

To protect against viruses, I would have on hand a green tea supplement and Vitamin D.  There are compounds in green tea (EGCG the most well known) that are potent anti-virals.


Thu, 02/28/2013 - 12:37 | 3286092 Agent P
Agent P's picture

Thank you.

Thu, 02/28/2013 - 23:10 | 3288865 AustriAnnie
AustriAnnie's picture

Oil of Oregano is among some of the oils that have natural antiviral/antimicrobial properties (this is supported by both the "expert" medical journals as well as centuries of Eastern medicine). 

Thu, 02/28/2013 - 13:13 | 3286240 Kirk2NCC1701
Kirk2NCC1701's picture

Don't disagree with your tenor, but... Until I see more than folklore on the effectiveness of CS against serious infections (real, not 'sponsored' studies please!), I'll stick to having some of both.  And I'll cycle the pharma inventory as required.  Just to manage risk, since I am not a dogmatic or B&W kind of thinker.

Thu, 02/28/2013 - 15:59 | 3287194 Totentänzerlied
Totentänzerlied's picture

Yep, all the millions walking around without thyroids thanks to MTC and PTC should really get off their lazy asses and find some way to stop being so dependent on big-pharma. Buncha idiots!

You're being just a wee-bit simple-minded and it's not flattering to your intelligence. Such people will die within no more than a few months and there is not jack and/or shit any supplement or holistic bullshit can do about it. Wishing does not make it so.

Thu, 02/28/2013 - 11:42 | 3285807 WillyGroper
WillyGroper's picture

Speaking of preppers. While looking for a course at a vo-tech yesterday, they literally had courses on just that. About 6 of them. Gun safety & concealed permit certification.

Thu, 02/28/2013 - 13:54 | 3286455 ElvisDog
ElvisDog's picture

If you are a prepper, this is why meds are at the top of your list, right under water source

Or, here's an idea - live your life so you minimize or eliminate your need for prescription drugs. Most drugs are either unneccesary (acid reflux, cholesterol, high blood pressure, depression, ADHD, etc.) or can be reduced or eliminated through lifestyle changes.

Thu, 02/28/2013 - 16:07 | 3287226 Totentänzerlied
Totentänzerlied's picture

I'm glad you're not my doctor, or a doctor at all. I'll use the acid reflux example. Severe acid reflux is a debilitating disease. Untreated it can lead to esophageal cancer, which will kill you if not treated. For mild acid reflux you can take calcium carbonate or bismuth subsalicylate or sodium bicarbonate-potassium bicarbonate-anhydrous citric acid, which can be stockpiled, but which it is possible to OD on - and destroy your stomach.

The ignorance of genetic and epigenetic pathology on ZH is astounding.

Thu, 02/28/2013 - 17:52 | 3287759 WillyGroper
WillyGroper's picture

You're stuck in the medical matix. Try HCI in the middle of ur meal. Acid reflux is do to too little acid & lack of digestive enzymes. Eating raw foods helps. Eating a bit of raw potato everyday will help build up the mucosa that's been destroyed by the reflux. Otherwise it just progresses. 

Gave some to a friend that suffers from it & has a hiatal hernia also. Bi-carb of soda also helps & is a whole lot cheaper. 

Thu, 02/28/2013 - 10:27 | 3285483 Eireann go Brach
Eireann go Brach's picture

Krugman just tweeted this was bullish for Greece recovery!

Thu, 02/28/2013 - 10:30 | 3285503 philipat
philipat's picture

Print more drugs quickly.

Thu, 02/28/2013 - 10:28 | 3285494 I need more cowbell
I need more cowbell's picture

I do feel sorry for the people who need certain very beneficial drugs; albuterol for asthma comes to mind. The side benefit though will be all the people who can't get most drugs that are truly unnecessary. Hope that word filters out with time.

Thu, 02/28/2013 - 10:58 | 3285617 CH1
CH1's picture

This is THE TIME to get into the smuggling biz between Greece, Cyprus, etc.

Thu, 02/28/2013 - 13:08 | 3286258 Kirk2NCC1701
Kirk2NCC1701's picture

Long G&A or Swords & Spears.  If the Greeks still know how to use any of these.

Thu, 02/28/2013 - 16:14 | 3287262 Totentänzerlied
Totentänzerlied's picture

Uh, referring to drugs which manage a condition, unless these very poor people suddenly and radically change their lifestyles (in ways they cannot afford to), those conditions will simply get worse.

Thu, 02/28/2013 - 13:31 | 3286366 Ruffcut
Ruffcut's picture

Fuck the drug/poison business.

And the blood? I give for free and they sell it for big bucks. Scam fuckers.

Let the greeks give their own blood?

Thu, 02/28/2013 - 10:22 | 3285459 firstdivision
firstdivision's picture

Wow, the price of Valium has had to quintuple on the streets of Athens.

Thu, 02/28/2013 - 11:04 | 3285637 BurningFuld
BurningFuld's picture

Generic Valium is about $20 per 5000 tablets FYI.

Thu, 02/28/2013 - 10:23 | 3285462 fonzannoon
fonzannoon's picture

What good is it doing Greece to be on the Euro at this point? How much worse can it get for them?

Thu, 02/28/2013 - 10:25 | 3285474 GetZeeGold
GetZeeGold's picture



The 300 must be rolling in their graves.

Thu, 02/28/2013 - 10:35 | 3285524 Escapedgoat
Escapedgoat's picture

And the current ones in the WhoreHouse (Vouli) are expected  to Join them any moment soon. By hanging

Thu, 02/28/2013 - 11:03 | 3285633 herpderp
herpderp's picture

This is madness.

Thu, 02/28/2013 - 11:32 | 3285775 Kaiser Sousa
Kaiser Sousa's picture

based on the amount of courage these current Greeks have shown im beginning to believe that the "300" was a myth...

just sayin Greek people..... 

Thu, 02/28/2013 - 16:17 | 3287280 Totentänzerlied
Totentänzerlied's picture

Time for a history lesson, the Spartans were totalitarians the likes of which are unequalled in human history. If they're rolling their graves, it's because Greece is infinitely more free and liberal and tolerant than they would ever have tolerated.

Thu, 02/28/2013 - 10:30 | 3285501 KidHorn
KidHorn's picture

I agree. The problem is Geece holds a lot of German Euro debt and the day greece leaves the euro is the day the German banks realize a lot of losses.

My hunch is the gov't knows this and it's only a matter of time they get another bailout.

Thu, 02/28/2013 - 13:28 | 3286350 Professor Fate
Professor Fate's picture

Exactly!.  And to smooth the transition from Euro to Drachma, I say we send over the legendary economic transitioning team, the Kruganke twins, Ben and Paul...on the condition that they never send them back.

Fate the Magnificent

"Push the Button Max" 

Thu, 02/28/2013 - 10:23 | 3285463 jeff314
jeff314's picture

But they have turn the corner right?????

Thu, 02/28/2013 - 10:29 | 3285498 Cdad
Cdad's picture are we back to Greece being NOT fixed?  Or is it fixed, but fixed like Italy?  And how does Spain fit in again...other than right next to Portugal...whose debt just went parabolic...after a few months ago being lauded for its austerity?

Can someone put out a flow chart on this fixed/not fixed I am having a hard time following the TRUTH of the matter, what with the global oligarchy bending the MSM over day after day, and using it as an instant messaging system to the uninformed.


Thu, 02/28/2013 - 10:23 | 3285464 LawsofPhysics
LawsofPhysics's picture

That which cannot be sustained, won't be.  Here's looking at you Mr./Mrs. baby boomer.

Thu, 02/28/2013 - 10:31 | 3285507 H E D G E H O G
H E D G E H O G's picture

I'm a "Boomer".  ALL my meds are illicit and illegal. Thank God the the 30 year War on Drugs is working out so great.

Thu, 02/28/2013 - 10:33 | 3285516 LawsofPhysics
LawsofPhysics's picture

I know many boomers who "grow" their own meds.  Imagine that, an individual centered solution.

Thu, 02/28/2013 - 16:20 | 3287300 Totentänzerlied
Totentänzerlied's picture

Imagine that, the generation which gave us the War on Drugs was a bunch of f'in hypocrites who wish to apply a double-standard (and they still vote as a block against decriminalization/legalization, shocking). Whocouldanode?

Thu, 02/28/2013 - 18:32 | 3287911 H E D G E H O G
H E D G E H O G's picture

I hope you're not lumping ME in that "bunch of fucking hypocrites" statement, because I, for one, have ALWAYS subscribed to the ideal of Live, and Let Live. What someone, anyone wants to do with their life is their OWN business, as long as it doesn't infringe on MY fucking right to do the same.  The decriminalization of pot, would go a long way in relieving the stress and overwhelming cost this world faces, besides just doing the right thing, ie., illegal herb vs. legal alcohol. The taxes gleaned from legal pot would give a hefty shot in the arm of OUR ailing country. Besides, it would definitely subdue the rage we are seeing today from all of the people losing against the system. Fuck it, why waste my breath. Color me High, Armed, and Happy.

Thu, 02/28/2013 - 11:51 | 3285841 WillyGroper
WillyGroper's picture

Time won't be waiting for you either.

Thu, 02/28/2013 - 10:23 | 3285467 Unprepared
Unprepared's picture

"What, me worry?"

A Greek proverb

Thu, 02/28/2013 - 10:25 | 3285473 GubbermintWorker
GubbermintWorker's picture

It is??

Thu, 02/28/2013 - 10:26 | 3285470 TruthInSunshine
TruthInSunshine's picture
The Money Masters say unto the people of the world, whose "democratic, sovereign governments" have sold them out to the highest paying private fractional fiat issuing banking cartel, you will give us our pound of flesh and tribute, or you & your loved ones won't get essential medications.

"We already own your representatives, regulators, judges & infrastructure, bitchez."

Thu, 02/28/2013 - 10:29 | 3285481 francis_sawyer
francis_sawyer's picture

hemp is easy to grow... so is poppy... [just watch out for the drones whicj will be sent to kill you for cutting in on their profits]...

Thu, 02/28/2013 - 10:31 | 3285506 TruthInSunshine
TruthInSunshine's picture

But the Choomwagoneers-In-Chief around the world will only allow for roundup ready, GMO seed to be legally planted, with massive criminal and financial penalties for defying the Monsanto, Carghill, et al OverLords.

Thu, 02/28/2013 - 10:41 | 3285547 francis_sawyer
francis_sawyer's picture

Molon Labe

Thu, 02/28/2013 - 10:59 | 3285621 gaoptimize
gaoptimize's picture

This will become a large liberty issue soon enough as boomers have a lot of votes.

Thu, 02/28/2013 - 11:05 | 3285642 TruthInSunshine
TruthInSunshine's picture

Cue Monsanto "Round Up Spraying Drone Fleet" to initiate litigation against farmers whose crops have been cross-pollinated with Monsanto GMO-seed via the wind from nearby Monsanto-planted fields.

Thu, 02/28/2013 - 11:25 | 3285747 francis_sawyer
francis_sawyer's picture

When is Monsanto coming out with "Irradiation Roundup"?

Thu, 02/28/2013 - 11:25 | 3285748 francis_sawyer
francis_sawyer's picture

When is Monsanto coming out with "Irradiation Roundup"?

Thu, 02/28/2013 - 11:20 | 3285728 DOT
DOT's picture

All papavers contain opioids and many varieties and colors are available for your garden. Local plantsmen and nurseries will to glad to sell you a few nice specimen plants. Grow cannabis and maybe a drone will fly up your ass.

Thu, 02/28/2013 - 11:27 | 3285754 francis_sawyer
francis_sawyer's picture

Maybe they'll find some monkeys up there...

Thu, 02/28/2013 - 10:26 | 3285477 lolmao500
lolmao500's picture

Weird, I was talking about this drug/hospital situation just a few days ago with my friend... he didn't believe me...

Thu, 02/28/2013 - 10:32 | 3285510 astoriajoe
astoriajoe's picture

I remember reading one article that says if you have a broken bone, the doctors can set it for you, provided you procure the plaster for the cast.

Thu, 02/28/2013 - 10:35 | 3285523 lolmao500
lolmao500's picture

Another article said hospitals forced patients to clean their own room/bathroom because they didn't have the money to hire/pay staff to do it.

Thu, 02/28/2013 - 10:27 | 3285484 Big Corked Boots
Big Corked Boots's picture

I don't think they have this problem in Iceland.

How long is this BS going to go on?

Thu, 02/28/2013 - 10:31 | 3285505 Jorgen
Jorgen's picture

Great business opportunity for Chinese, Indian and Russian pharma companies. 

Thu, 02/28/2013 - 10:50 | 3285525 Dr. Engali
Dr. Engali's picture

Until the war starts, or some bankers start getting hung from bridges. My guess is the former comes first.

Thu, 02/28/2013 - 10:28 | 3285488 HD
HD's picture

Wow. You actually have to pay the Red Cross blood money...

Thu, 02/28/2013 - 10:29 | 3285497 Glass Seagull
Glass Seagull's picture

Big pharma long the sov greek CDS in their cash mgmt arms?

Thu, 02/28/2013 - 10:29 | 3285499 pashley1411
pashley1411's picture

Wish the language here would clear up.   "economic crisis"   bullshit    I'll bet if you went down the docks and tried to exchange a few cannisters of gas for fish, the "economy" would work just fine.   

There are fewer medicines in Greece for those who were relying on government to foot part of the bill because the government ran out of money.   Just say it, "the government ran out of money".    There, isn't that bettter?    And if you had enough money, you could probably get any drug on the planet even into the most remote Greek inlet.   Its the "relying on the government' part of the thing that isn't working so hot.  

Statists are winning because people repeat slogans.     

Thu, 02/28/2013 - 10:47 | 3285574 LongBallsShortBrains
LongBallsShortBrains's picture

Way tocut the bs. +1

Thu, 02/28/2013 - 11:01 | 3285628 gaoptimize
gaoptimize's picture

The avatar and the word "cut" shouldn't be used together.

Thu, 02/28/2013 - 12:12 | 3285942 Snoopy the Economist
Snoopy the Economist's picture

...maybe bs stands for ball sack...

Thu, 02/28/2013 - 16:25 | 3287333 Totentänzerlied
Totentänzerlied's picture

The government can't really run out of money until the economy "runs out of productivity" seeing as governments have an unlimited present and future claim on all economic productivity in their polity. They ran out of money because the economy ceased to be productive AND they happen to have entered into an arrangement whereby they can't just debase their currency at will. Silly Greek government.

Thu, 02/28/2013 - 10:29 | 3285500 Dr. Engali
Dr. Engali's picture

Damn..looks like I need to add viagra to my list of things to stock up on before shit hits the fan and we are all Greeks.

Thu, 02/28/2013 - 10:58 | 3285618 BandGap
BandGap's picture

Are you willing to trade for gold/silver? Viagra will be a great barter item.

This is no Shazaam! moment. the Greeks are 3+ years behind in paying for pharmaceuticals. They paid for them last year with government bonds that were worth 0.60 on the dollar. This is just the next step down the road.



Thu, 02/28/2013 - 10:31 | 3285502 lolmao500
lolmao500's picture

So how long before the scummy politicians, their banksters friends and big pharma get charged with MURDER??? Because that's what they are doing to hundreds if not thousands of people by cutting off medicine supplies.

Draft the people who need medicine right now or are gonna die and send them to off politicians and banksters. They have LITERALLY nothing to lose.

Thu, 02/28/2013 - 10:50 | 3285584 SmackDaddy
SmackDaddy's picture

That second thought was interesting.  But they can take even in death, I'm afraid.  And your family will be the ones that pay.

Thu, 02/28/2013 - 14:01 | 3286500 ElvisDog
ElvisDog's picture

But the drugs are being paid for or subsidized by the government, and the government has run out of money. Are you suggesting the pharma companies just give their drugs to the Greeks? Or maybe the Germans and Austrians could pay higher prices so the Greeks can get their meds for free? Why don't some enterprising Greeks set up their own drug manufacturing companies inside Greece? All these stupid fucking sheeple worldwide blinking their eyes in disbelief - just because some dickwad politician promises you a benefit doesn't mean they can pay for it.

Thu, 02/28/2013 - 14:10 | 3286554 lolmao500
lolmao500's picture

I'm just saying the Greek government should stop subsidizing those drugs immediately and cut whatever is necessary in the budget and pay the hospitals bills to make sure people don't die.

Thu, 02/28/2013 - 14:21 | 3286597 ElvisDog
ElvisDog's picture

What I think the Greek goverment should do is to make a list of the drugs that are truly necessary to keep people alive and put all of their drug benefit resources into those drugs. And then eliminate government subsidizes for all the other non-life-sustaining drugs. People would realize pretty quickly that they really can live without the "purple pill"

Thu, 02/28/2013 - 16:29 | 3287359 Totentänzerlied
Totentänzerlied's picture

Only if they get their stupid fucking government out of the way can enterprising Greeks start to do anything other than be thrown in jail for trying to be enterprising, and international medical aid including donated medicine can begin to arrive. 

Competing with the government's monopoly on healthcare is a felony. Socialized medicine is great!

Thu, 02/28/2013 - 10:37 | 3285512 Yen Cross
Yen Cross's picture

 Send that asshole Bloomturd over to Greece. He's great at rationing shit!

New York City to Restrict Powerful Prescription Drugs in Public Hospitals’ Emergency Rooms -

Thu, 02/28/2013 - 11:12 | 3285684 BurningFuld
BurningFuld's picture

We tossed all that shit out of our emergency rooms in Canada like 7 or 8 years ago.  Emergency emergency...I'm in pain for some unknown reason!!!  Ya OK.

Thu, 02/28/2013 - 10:33 | 3285515 philipat
philipat's picture

"Looks like I picked the RIGHT day to quit doing amphetamines..."

And don't call me Shirley...


Thu, 02/28/2013 - 10:34 | 3285520 Haus-Targaryen
Haus-Targaryen's picture

Greeks -


Depose your government.  Elect either Syriza or Golden Dawn or quit whining.  Seriously.  This is just getting annoying.

Thu, 02/28/2013 - 11:44 | 3285803 Escapedgoat
Escapedgoat's picture

Syriza AND Golden Dawn are PART  of the system. The First is stuffed full of ex-PASOK  Shit. and the Former are the Dogs that bark but don't Bite. The Greeks are fooked either way, unless they do a Bepe Grillo. And Lastly but not least hang all the current Greek Politicians, and I mean ALL, and the Former ones

Thu, 02/28/2013 - 12:40 | 3286109 Haus-Targaryen
Haus-Targaryen's picture

I am in full support of any party, either establishment or non-establishment that would bring down the Euro Ecosystem.

Thu, 02/28/2013 - 14:03 | 3286520 ElvisDog
ElvisDog's picture

No fucking kidding. The Greeks re-elect the Euro-whore lackeys and then complain when things don't get better. Hey Greeks, grow a sack and re-declare your independence.

Thu, 02/28/2013 - 10:37 | 3285530 jover
jover's picture

1st world
2nd world

3rd world

Thu, 02/28/2013 - 10:37 | 3285531 lolmao500
lolmao500's picture

Then there's Greece, 4th world.

Thu, 02/28/2013 - 10:40 | 3285541 Sudden Debt
Sudden Debt's picture

Today my boss asked me a question.

It was like:

Boss: You did drugs when you where young right?

Me: How do you mean?

Boss: You know, weed and stuff.

Me: well...

Boss: My kids told me he's smoking weed...

Me: Oh! that's not a bad drug, it's actually healthy and...

Boss: And now he said he wanted to grow some plants because it's to expensive....

Me: well it's not that expensive, it's only....

Boss: He's growing the entire greenhouse with these plants...

Me: Well... that's euuuhhhh.....

Me: Maybe he want's to be a entrepreneur?

Boss: glass look....

Me: Well... it's not as bas as long as he doesn't start taking pills and stuff so...

Boss: glass look....


Thu, 02/28/2013 - 10:50 | 3285585 lolmao500
lolmao500's picture

Me: Well... it's not as bas as long as he doesn't start taking pills and stuff so...

Or he ends up in prison for 25 years... and his whole family too since it's their home.

Thu, 02/28/2013 - 11:26 | 3285750 DOT
DOT's picture

Wrong country. War on Drugs is an export from the US that many countries just don't want.

Thu, 02/28/2013 - 10:41 | 3285544 IamtheREALmario
IamtheREALmario's picture

So, what will the drug companies do when the rest of Europe and the US are burinng? Will they cut off drugs to the rest of Europe and the US as well.

Seems counter-productive to their business plan.... lol.

Thu, 02/28/2013 - 10:51 | 3285589 Sudden Debt
Sudden Debt's picture

Life saving medicine will always be available for a few ounces of silver....

and who doesn't own silver these days?...


Thu, 02/28/2013 - 11:29 | 3285761 DOT
DOT's picture

Silver salts are also an excellent disinfectant. (expect some skin discoloration)

Thu, 02/28/2013 - 14:05 | 3286530 ElvisDog
ElvisDog's picture

Well, the brilliance of Big Pharma is that once you start a lot of these drugs you can never stop them or really bad things happen to you.

Thu, 02/28/2013 - 10:42 | 3285550 suteibu
suteibu's picture

A world hooked on drugs.  History will note that the Opium War II began in Greece.

Thu, 02/28/2013 - 11:08 | 3285665 HD
HD's picture

"I learned it by watching you!" Parents who use drugs, have children who use drugs.

Is there anything the 1980's can't teach us?

Thu, 02/28/2013 - 11:31 | 3285768 DOT
DOT's picture

Must be genetic. Parents who inherit wealth have children who inherit wealth.

Thu, 02/28/2013 - 13:10 | 3286267 Canucklehead
Canucklehead's picture

It doesn't always work that way...

Thu, 02/28/2013 - 10:43 | 3285554 theleak
theleak's picture

At least the greek market is up.....

Thu, 02/28/2013 - 10:43 | 3285555 Yen Cross
Yen Cross's picture

 We are all getting a fantastic glimpse of what we can expect from Obamacare in the not so distant future.

Thu, 02/28/2013 - 10:50 | 3285567 moonstears
moonstears's picture

Note to Greeks: (allegedly) Rockingfellow family or associate on boards at 80+% of big Pharma. Now you know who to blame??

Thu, 02/28/2013 - 11:20 | 3285726 moonstears
moonstears's picture

Look, a rockingfellow down arrow! Hey, your grandad was brilliant, you all, not so sure that's the case. Reap your whirlwind motherfuckers!

Thu, 02/28/2013 - 10:45 | 3285568 Gordon Freeman
Gordon Freeman's picture

Let's see:  First they lowered the price of their products far below that which others had to pay.  Then, the beneficiaries of this artificial giveaway would not even pay the lower price, and stiffed them for billions of $$$. are the pharmas at fault here?

Thu, 02/28/2013 - 14:07 | 3286543 ElvisDog
ElvisDog's picture

And, the other big problem is that the Greek government is fixing the price of drugs at 20% lower than surrounding countries. Gee, what could possibly go wrong with doing that in a small country next to lots of other coutries and drugs are small and easy to transport? You can make a 20% profit by selling your Greek drugs in the next country over. Idiots.

Thu, 02/28/2013 - 16:36 | 3287405 Totentänzerlied
Totentänzerlied's picture

They probably cart out their MPs once a week to do the whole "EEEEEVIL SPECULATORS" speech, only about drugs and gov bonds instead of gasoline.

Thu, 02/28/2013 - 10:46 | 3285570 NoWayJose
NoWayJose's picture

If the people actually paid for the drugs the supply chain would not be broken because that money would get to the suppliers. The reason this is a problem is that the people expect to get the drugs for free, with the government paying the suppliers and social insurers. Sort of like where Obamacare is heading.

Thu, 02/28/2013 - 10:46 | 3285572 Jason T
Jason T's picture

Larouche was on to something about globalization..  40 seconds to 1:40 ...

Thu, 02/28/2013 - 11:22 | 3285734 SmallerGovNow2
SmallerGovNow2's picture

awesome, thanks for the link....

Thu, 02/28/2013 - 10:47 | 3285573 sawman
sawman's picture

This is why Dimon is richer than you - Sociopathic scum bag. Hope he burns in hell.

Thu, 02/28/2013 - 14:10 | 3286555 ElvisDog
ElvisDog's picture

Jamie Dimon fucks super models, drinks $5000 bottle of wine, and vacations in places that you will never see. He can afford the best possible medical care and is protected 24/7 by armed body guards. He will die peacefully in his sleep on his private island, and he will regret nothing because he is 100% sure that he is better than you. That is reality.

Thu, 02/28/2013 - 10:51 | 3285587 Stuck on Zero
Stuck on Zero's picture

No drugs or modern pharmaceuticals?  Everyone will be so much healthier.


Thu, 02/28/2013 - 10:57 | 3285613 Tenshin Headache
Tenshin Headache's picture

Those who aren't dead!

Thu, 02/28/2013 - 10:51 | 3285590 lolmao500
lolmao500's picture

How many are gonna die from this?? Are many are gonna be prosecuted for murder because of this? If you answered ``several thousands`` to the first question and ``ZERO`` to the second question, you would be right.

Thu, 02/28/2013 - 10:52 | 3285595 Non Passaran
Non Passaran's picture

Single market, bitchez

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