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Syriza Forms Coalition Government With Anti-Bailout Independent Greeks: What Happens Next
There was some excitement in the capital markets overnight, when what was initially seen as an outright victory for Syriza, giving it an absolute, 151-seat majority in parliament - a fear that briefly pushed the EURUSD under 1.11 when the Euro PPT stepped in - ended up being a placing just shy of a majority with 149 seats. However, that same excitement fizzled several hours ago when the "radical left" party agreed to form a government with the "rightwing" group of the Independent Greeks in the aftermath of Syriza's historic win which harnessed the public backlash against years of belt-tightening, job losses and hardship.
As the FT reports, Panos Kammenos, leader of the fiercely anti-bailout Independent Greeks, said as he left Syriza’s headquarters after a meeting with Alexis Tsipras, the prime minister-elect: “The country has a government. Independent Greeks will give a vote of confidence to Alexis Tsipras.” The deal would give Syriza a comfortable working majority in parliament but Mr Tsipras has yet to confirm anything as he continued coalition negotiations with other parties.
So in a parliament in which the nationalist Golden Dawn placed third, the new leadership will be comprised of a far left and a far right group, both united by the hatred of European bailouts and the stifling Greek economy, both of which they are eager to blame on Germany and the Troika.
Despite their ideological differences, the two leaders established regular contacts while the previous centre-right New Democracy government was in office, based on their shared stance that Greece should abandon austerity and seek a debt write-off, while remaining a member of the eurozone.
Mr Kammenos, a former deputy merchant marine minister in a New Democracy government, left the party in 2012 to set up his own party, taking a handful of lawmakers with him.
This means that any potential agreement with the next party Tsipras is looking to work alongside, the new To Potami party, becomes of secondary importance:
Mr Tsipras was meeting Stavros Theodorakis, leader of the centre-left To Potami (The River) party later in the day to discuss possible co-operation. Mr Theodorakis has refused to participate in a Syriza-led government but could offer support even if his party is not part of a formal coalition. To Potami finished fourth in the election with 6.4 per cent of the vote and 17 seats.
And while bankers across Europe were fast to talk down the possibility of a hardline Syriza, having failed to get those two elusive seats, the fact that it has aligned itself with a just as rabid anti-Europe party will actually end up forcing Tsipras hand to deliver on at least some of his anti-bailout, anti-Troika, promises, all of which Germany has shot down apriori.
So what happens next?
Well, on one hand, as RBS' Greg Gibbs points out, the ECB's just announced QE "substantially" increases the incentive for Greece to stay in an acceptable EU/IMF austerity program as a decline in EUR and regional bond yields provide a draw for the country. He adds to expect a lot of “bluff and bluster” from both sides of the Greek debate in 1H2015 especially since EU members will concede little ground to Syriza-led Greek government. The problem is that Syriza can hardly agree to no concessions as it has built reputation on easing austerity.
This leads Gibbs to conclude that the most likely outcome is just enough ground conceded on both sides to save face.
Immediate focus likely to be troika review expected end-March; most important deadlines expected when Greece faces repayment pressure on large amount of bonds in July/Aug.
The take of Morgan Stanley's Hans Redeker is less optimistic: he, alongside other fx strategists, thinks that the Greek election outcome don’t bode well for the Euro, adding overnight that investors will watch which party Syriza reaches out to. We now know that said party is the a rightwing anti-bailout organization, which weaknes the compromise angle.
MS says to expect a modest core European opposition against Greek debt restructuring as no doubt current debt levels are unsustainable.
Friction with EU partners will probably be on reforms as Syriza has not only called for the end to austerity, but wants to roll back some structural reforms and re-hire in public sector.
The conclusion: it will be up to the German government to "make a difficult decision."
So what was Germany's kneejerk take? Well as Michael Grosse-Broemer, chief whip of German Chancellor Angela Merkel’s party, said in a N-TV television interview, Alexis Tsipras will have to face reality “once the smoke of the election campaign lifts" adding that "you have to abide by agreements that were made in the past. Tsipras has promised a lot, but he will have to deliver if Greece wants aid disbursements to continue." It is not quite bailoutmail but if the word fits.
Merkel's lawmaker concludes that the Greek left is “a bit blinded by their ideology,” and that the German-led approach has worked in other euro-area countries that received bailouts.
It almost makes one wonder if it wasn't "austerity" as much as corruption and incompetence that is behind the endless Greek drama...
In any event, both sides are now on collision course, with Tsipras knowing full well that if he dilutes his promises sufficiently his political career will also be measured in months. Speaking of Tsipras, here are some amusing snippets about his ideological position from the Guardian:
As Greece descended into economic crisis, there were almost no signs that the young ideologue, an ardent admirer of Ernesto “Che” Guevara – he named the youngest of his two sons after the Argentinian Marxist revolutionary – would emerge as the wild card to challenge Europe or Athens’ own dynastic politics and vested interests.
...
Tsipras, perhaps more than any other Greek politician, has flourished on the back of crisis, his anti-austerity rhetoric and dexterity as a political operator becoming sharper by the day. His determination to learn English – swotting from textbooks in his spare time – helped turn him into a polished performer and earned grudging respect from his greatest opponents.
“Although trapped in his own rhetoric, he is very good at deflecting criticism and often using it to his advantage,” says Dr Eleni Panagiotarea, a research fellow at Greece’s leading thinktank, Eliamep. “His electoral campaign has been slick and very media-savvy.”
...
At 40, the former communist party youth activist, student leader, self-avowed atheist and firebrand appears determined to jolt not only his own country but also Europe. Nonconformity is part of the package. Others, say aides, will have to wake up to the reality that the radicals – for they wish to be called nothing else – will be doing things differently.
Under Syriza, Athens will challenge fundamentals: the politics of austerity, fiscal policies, how business is done. With the eyes of the world media on him, Tsipras rammed home that message himself on Sunday after casting his vote in Athens.
"Our common future in Europe is not austerity, it is the future of democracy, solidarity and cooperation," he announced.
...
Greek politicians are unaccustomed to taking Europe by storm. And they are certainly not used to being seen as trailblazers capable of galvanising public opinion in the 28-nation bloc.
But, mixing chutzpah and charisma, Tsipras has managed to do both. From political unknown he has become the gadfly tormenting the big players in the EU.
"Merkelism,” he says, is in his sights. It is hard to overestimate the significance of this outcome for the left. Or Tsipras’s role in uniting groups that, famously, have remained fractured on the edge of political spectrum.
Deploying unrivalled communication skills, the telegenic Tsipras has allowed Syriza to speak for a whole sector of society that for decades was hounded and harassed by authoritarian rightwing rule.
In a nation still polarised by the fault lines of a bloody left-right civil war, both he and his alliance of Euro-communists, socialists, Maoists, Trotskyists and greens – since united into a single force – were only three years ago firmly relegated to the sidelines of Greek politics.
Outside the eclectic world of Syriza committee meetings, congresses and conventions, they were not a force to be reckoned with.
Maybe they are, but Europe is well-aware that any Greek renegotiation means one thing: an impairment of the ECB balance sheet, something which is also a non-starter for the central bank which is already toying dangerously close with losing all credibility as well as big losses for German taxpayers now that the bulk of Greek debt exposure has been mutualized outside of the banking sector,
Whatever happens, expect a substantial increase in volatility in coming weeks as Greek pre-election promises and the harsh European reality finally collide, and lots and lots of red flashing headlines and FX kneejerk responses.
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Get the Show rolling , nough said
Side note: Yesturday I lost my best friend of over 20 years because he accused me of being very negative about our future, and he told me he has full faith in the govt and that I was negativeand that he likes to surround imself with positive frriends. Wow i dont know what to think
Frau Merkel - Mr. Panos calling!
https://www.youtube.com/watch?v=Zvl9N9GdraQ
anyone from the DMV area , please let me know
Walk like an Icelander.....round up the bankers.
Hold them at nailgun point.
And while rounding them up cancel all the Greek debt. There is even a legitimate reason for doing so- As all this money was invented into existance by Rothschild banksters there was no consideration on the loans and they are all legally invalid.
It's all Bullshit!!!
I just read books and avoid most people.
There is very little to be happy about with regards to humanity, but the great thinkers of history do give some respite and wisdom.
Most people are sheep, and we are ALL wrong if we hold opinions.
Mathematics is the only fact.
SickDollar, I have lost a few friends and 2 family members have become estranged with me over the last few years. In my opinion a lot of people now understand how ridiculous and insane it has all become deep down but they don't want to admit it so they fight it. Our society in the West is very sick and a lot of people have succumbed to it, many people are living lies and know it on some level but are too frightened or even aware enough to admit it.
It causes friction on all levels.
+100
I realized People dont want to face reality, they prefer to swim in lies
I just dont get it
I agree I just don't get it either. Even before my eyes were opened I was always interested in people who said things I hadn't ever considered or people that did or said things I considered "odd". Many people are too scared and intollerant of people who think differently. Perhaps they resent us because our minds are free? I don't know I just don't get it either.
Behavioral patterns, GH... You've probably been encouraged by your parents to dig deeper and look for alternative solutions and explanations, ergo to "keep an open mind" that doesn't dismiss things that don't fit into your worldview.
Your friend, like the rest of the sheeple, doesn't resent you for having an open mind. He does it because you are a threat to the idyllic worldview that he's built in his hermetically sealed mind. It's a built-in defense mechanism that prevents (or is responsible for) so many folks getting nervous breakdowns every day...
Mankind Swims Regularly In The Sea of Knowledge, Emerging Completely Dry.
People struggle with the changes going on because they believe they can't impact these things. So they choose to concentrate on what they can have an impact on. It works both ways. I've observed people who can't leave their basement because they are obsessed with issues half a world away. Balance is the answer.
When you live outside the u.s. for a decent amount of time, you begin to appreciate the sickening amount of control the american media has over its subjects. People have been cained out of their critical thinking faculties, lulled by the soft crooning of "'we're from the government and we're here to help you'".
Propaganda and morons make a wonderful combination
Those under the influence of PsyOp /Propaganda / Mind Control would have to accept that absolutely everything they've been taught or their "World View" & Belief System is a lie.
And, for most it's too much to for them to bear. Some would rather claim willfully ignorance while others Cognitive Dissonance.
-1 for "sheeple", which just makes you sound like an arrogant nutjob.
'Think of how stupid the average person is, and realize half of them are stupider than that.'
G. Carlin
Psychopathy isn't a stand-alone disease of the powerful when it exists in organizations. It is ALWAYS co-morbid with learned helplessness of many of the serfs. More psychopaths, more helpless and an ever-shrinking normal, healthy middle. You are a tiny slice of that shrinking middle.
Everyone always confuses learned helplessness with depression or obedience or trust or dependence. It's NONE of those, and if you confuse learned helplessness wtih ANY of them you will continue to lose family and friends all the time, no exceptions, period.
If you don't understand the nature of evil and psychopathy, then at least respect the nature of learned helplessness - the extraordinary protective (yet pathological) ability of otherwise rational, healthy people to protect their happiness, moral compass and sanity. Of course it doesn't solve anything long-term, but it works pretty damn good on a day-to-day basis. Stop trying to cure diabetes by insisting a diabetic consume more and more sugar to toughen up. Bloodletting will not cure a serf's condition. Your dose of reality does not cure learned helplessness, it only makes the symptoms worse.
What you're selling your skeptical learned helplessness friends is the exact fear and pain they're trying to ignore precisely because they can't do anything about it. Wake up and endure the pain? WTF kind of madness are you selling them? They would be better off with Scientology or Amway (or a nail gun).
"If I can only convince you that there is no future and you really should be feeling horrible pain and discomfort, then maybe you'll be AWAKE like me!" Yeah - an THEN what? Cure psychopathy by mob rule? I concede, it does work - sometimes. But it's a lazy-ass, destructive, painful way to get rid of a few psychopaths if it's the only plan you have. It always results in far more little people dead than psychopaths. I would humbly suggest you are far from awake if your only solution requires you to increase the numbers of awake so you win the social change American Idol. That's caveman mentality. You're smarter and more powerful than that - we all are.
You're trying to grind up red pills in a blender and feed it to them rectally. There's some people that should never take the red pill - pressuring them to take it with your AWAKE logic is tantamount to torture. If you can't fix the world without rectally red-pilling people, then your plan SUCKS. The founding fathers didn't need to - colonists took the red pill when they were damn good and ready. When there was a plan that looked like it would work. Do you think it would have helped to rectally red-pill colonists before hand to 'build up the numbers'? That's what a psychopath would do.
Stop pissing off your friends trying to 'cure' their protective reflex of learned helplessness. Figure out something to cure the cause FIRST. If it's a good enough plan, they will line up to take their own damn red pill.
"If it's a good enough plan, they will line up to take their own damn red pill."
So right. Everyone who used to forward "people have to wake up" emails don't send to me anymore; my reply always has been "what is the plan?! Without a plan there'll be no (choose one: uprising, revolution, change, fixing it, recovery).
Still no plan in sight far as I can see. I don't think anyone at the top has even one idea among them about what to do.
Which is exactly why I reject social change via American Idol mobs.
Bringing down a government is actually the easy part when they've gone so far off the rails.
Without a plan, the vacuum will immediately be filled with replacement psychopaths.
That's why I've come to admire the authors of the Constitution. For all their faults and the faults of the constitution itself, they at least acknowledged that the government would be an eternal target of oligarchs and psychopaths trying to corrupt and use it. This, despite the fact that a good number of the authors were themselves arguably oligarchs. They did not form a nation based on a replacement government. The based it on a replacement government that - via the constitution - could not be turned into a tool of exploitation to be used against the citizens.
I'll go with anyone's plan that starts out with a crystal-clear objective of trying to do the same thing: create maintain and oligarch and psychopath-proof government that cannot be usurped to serve their purposes or exploit the citizens. I don't need no ShamWow pitch of noble principles that someone hopes will be magically spewed on the masses by incontinent, skittle-filled unicorns.
The government is like a hissing, steaming nuclear reactor that comes inside the package of Constitutional Republic. You CAN'T order it 'without' - it's not a side-dish. You open the box and it's yours to deal with. I'm interested in a plan that acknowledges that you're going to get stuck with it no matter what and it's dangerous as hell. Not a plan that offers a different box with no nuclear reactor (a lie because there is always 'government') or else an alternate model of a hissing, steaming nuclear reactor that maybe will be less risky than the current one.
We need a governemnt that is pragmatic, non-ideoligical, even handed and wise. Seems like its not too much to ask for. Yet, it will never be achievable.
That was insightful, and id also say that humans by nature will choose to rationalize their current erroneous belief system rather than throw it away for an extremely unpopular new one. If we dont rationalize, each one of us will eventually go mad. What hope do most people have if presented the cold hard truth about this world? It is so much easier to quickly buy into the lies rather than even entertain the thought that this entire system of things is a huge, evil sham. The vast majority of people dont want the truth, and wouldnt know how to handle the truth if they believed it.
That's all nice and fine what you write.
But the psychopaths figured out the best way to disable such, and have been burning all the bridges before us - except the one they want the helpless to stampede over.
So how do you make up a plan to overcome that?
I'm hoping someone a hell of a lot smarter than me can figure something out.
I think the authors of the U.S. constituion damn near nailed it. If they could have seen into the future and understood the nature of the corporate and political monsters that would evolve, they would have been more precise in building safeguards into the constitution. They didn't forsee the particular methods of corruption used to usurp the voting process and the law - they assumed we would always have both of those at our disposal to fix problems along the way. We don't, which narrows the hell out of our options.
Actually, they often think we're the ones who are incapable of facing reality. Even my own wife is struggling with my "negativity", rightly so by the way. Because she's got a point when she tells me that even if I'm 100% correct about what is unfolding, in the mean time life still goes on. Again, she's not wrong about that, but it's difficult spitting out the red pill when it's already found its way through one's digestive system.
They just treat me like the crazy uncle who is prone to outbursts of gibberish that sounds vaguely like English.
This is the looks I get:
http://media.giphy.com/media/ePsV4lBfsrPmo/giphy.gif
Sick Dollar. I assume almost anyone regularly spending time at this site experiences the same effect. Most of suffer from normalcy bias, the tendency to see the world as we prefer it to be putting aside the annoying clues things are otherwise. The best advice to help with your relations in my experience is to (1) use your awareness to make succesful financial/material decisions that are visible to your friends. We are all materialists I'm afraid and this counts. (2) By insulating ourselves from the consequences of these events we see offer a model to others of how we can best survive without agression and angst. Just a thought from experience.
I remember vividly the day that I first heard about Zerohedge. I was listening to an NPR financial interview and someone mentioned ZH as a site a lot of traders read. First thing I did when I got to work, was go to that site, and rest was history for me. At that point, I was already searching for information to help organize my thoughts as to why the economy didn't make sense.
After 2008, I knew something was wrong in terms of how that crisis should have played out (without knowing the underlying causes, etc). In fact, even after the Dot com bust, I was expecting housing prices to crash, but they never did. Well, now I know a hell of a lot more about the Fed to explain everything that has happened.
Waking up was a bitch. From what I've read here, I probably followed a familiar pattern - you tap into the "alternative conspiracy theories" which provides you with a clear perspective on our system, then try to tell friends and family about it and get thoroughly rebuffed. Eventually, you learn to limit expressing your full views, depending on the audience.
My wife has mixed feelings about my views. 3 years ago, I fired our financial advisor - for my retirement funds. She still uses him to manage her money (she works too). Not perfect, but better than before. I joke that we are hedged for both Armageddon and for muddling along. He's a nice guy, but clueless about the system.
I am going to pick up some silver today. Had to wait 5 weeks for the local bullion dealer to get some. He cannot get AE Gold, which I asked for. Even pointing out to people the paradox of record demand for physical metals versus depressed prices gets you quizical looks. Fuck em.
Next to Arch Stanton
Can show water to horse, but cannot make him/her drink. Look to yourself, move on.
Have you ever wondered why so many traders populate this website and posit alternative theories to the common narrative?
Traders more than anyone quickly need to get to the bottom of information, or more commonly misinformation, because their careers and own personal finances depend on it. We are good at seeing through bullshit, because many of us have lost money from time to time by being fooled, and we dont like being wrong. Politics, economic influences, company press releases, etc with all associated ramifications on your bet.. you best be seein through the bullshit with a reasonable amount of prowess.
Careful with that. If someone is going to dump your friendship over negativity now what do you think they will be willing to do when your calls come up right and they were able to watch how you prepared for it?
My guess is that they quite well might have a very negative reaction toward you then.
use your awareness to make succesful financial/material decisions that are visible to your friends.
Even if that consists of front-running psychopaths, i.e. take part in psychopaths achieving their goal?
I blame it all on the groundhogs.
Well what we are living through is the classic frog in a pot scenario where the water warms the frog goes to sleep and before long he is boiled. Could you imagine telling folks 10 years ago what it looks like today? nobody would believe you. In 10 more years......
We're gonna need a lot more children to pay for all of this.
My advice is to get prepped as much as you think you need to be, then kinda let it go.
Prepping never really ends, but at some point, you just gotta treat it as a giant mosaic that you add pieces to in your spare time.
Best thing to do with [other people] is to really not talk about it much. If you do, just make jokes about it. The real truth is that there's a lot of beauty in nature that surrounds you, so if you waste your time haggling with people [even family] that are in tough with neither reality, NOR nature, well ~ then that's just a lot of wasted time.
I don't push what I think on anyone. All I say is this country is going to hell and I keep prepping. Everyone has to figure it out for themselves.
I agree with your views Romney
having watched many friends fade into the distance over the years, as points of viewing diverge, I keep the more aware friends as trusted "family" within circles of building up sustainable systems (food, etc.), and let our "preps" be seen as working activities, nothing threatening or "doomy" but mostly "common sense".
because I lived for many years out of amrka, I tend to see, and exist outside, the cultural story people live here - "we're special, blessed, deserve our global #1 position" - whatever! untrue, all of it, but many folks still believe they're living that story, if they can just keep the fiat bank'd balances at a "certain" level, no one will notice, no one need notice. . .middle-aged couples moving back into boomer parentals huge homes to "save more $" - the justifications are endless, the denial even moreso. I've never seen a culture more willfully duped and dumbed. . .
so yes, enjoy the natural world, make your "preps" a part of your life/living, be a silent example - no need to "convince" by argument, when you can show by example - and surrender to the inevitable.
Too right. That's my standard line on those very rare occasions I still try to reason with people about this whole mess: go back 10 to 15 years and then listen to some of the headlines your man from the future would read out loud to you. Why, you'd send him straight to the nuthouse. But even that doesn't seem to impress the audience any more. That's where the boiling frogs come in.
There is a flip side.
My wife gets it, my kids get it, my relatives get it.
Some don't, and I will continue to be low key in pushing the topic.
True.
My wife and kids get it, although my daughter doesn't want to because it doesn't jibe with her very comfy yup-ster lifestyle. I tease her and call her Miss Scarlett after her alter-ego in one of her favorite movies. At least I got them to put some cash in some shiney stuff.
A picture IS worth more than a thousand words and nobody does it better:
http://demonocracy.info/
As for the rest of them..."Frankly, I don't give a damn."
Just ask him this,tech bubble,housing bubble and why isn't this bubble now.At the very least when it all blows up he'll come crawling back.
You read too much ZH. That will definitely make you negative.
Does daddy know you're on his computer?
Did you know I banged your wife last week?
Which one?
You're a dirty devil, GZG, don't come anywhere near my wife or I'll sue you for every ounce you have. And don't try to fool me with a story that involves a boat and a lake.
what are you to do stick around the sheeple with your head up your ass and not prepare for the hard times ahead. I'd really a friend he will be back. it's not if but when the shtf and he will nw a friend. second choice is to ignore the truth become a goverment thinker and when the reality comes too then you can both be surprise that The goverment screwed you
Sickdollar , you must understand that for some people looking at what is gong to happen is just too much for thier world to handle and they just don't want to hear it , let them live the final years in thier fantasy land it is the only thing that keeps them going in a world that they know is falling apart.
My wife gets 10 cents for every euro i spend on prep stuff. :-)
Counter back, you don't want to be friends with anyone who can't spot all the bullshit and lies.
Don't worry - if it all goes SHTF - he'll apologize, admit you were right and ask to be friends again. Oh yea, he'll remind you- friends share their supplies with friends!!!
Being prepared is like an insurance policy. I also carry fire insurance - doesn't mean I'm rooting for the fire
Pfft. Try losing a spouse over all this shit. I got lucky but many haven't.
Hey Sickdollar, I feel your loss. Lost my best friend in the same manner over 9/11...and then he accused me of throwing 30 years of friendship away. I would still do anything for him but I doubt he will ask me for anything unless I go back to sleep.
+1
I totally hear where you're both coming from. Tried and failed to alert a few friends. No one wants to know. But I keep trying!!! Did a little presentation on friday showed this video.
http://www.sovereignman.com/trends/the-orwellian-way-that-governments-maintained-power-in-2014-15867/?inf_contact_key=5e93f87ce06a09ad457b5af158d1f803fe2bd3cad572ae170ca95b1236bcaf76#orwell-video
Then gave 16 colleagues a belated xmas card I designed each holding a 1/4oz silver coin. Generally well received. At least two got it, one mentioned he had a friend who buries gold kruggerands :))).
One 'the boss' thanked me for my doom and gloom. I lolled inside.
Realism is not negativity. What gets labeled pesimism is most often just the acknowledgement of an unpleasant reality.
SickDollar
Welcome to the club my friend. Just let your so called friends live in their imaginary world and move on for you have nothing in common with them anymore. Just be prepared for the day they come banging on the door looking for food.
re: SickDollar friend loss of 20 yrs...
"There are two ways to be fooled. One is to believe what is not true. The other is to refuse to accept what is true" -
Soren Kierkegaard
My sympathies.
Don't help him when the SHTF and he comes calling. He was not your "friend" . Repoting the future is not "negative". I focus on taking care of my family and making "friends" with smart people . The people who want to ignore reality will be the first to turn you into the government when the Nazi's confiscation teams come calling.
good loss he was not your friend...
So you killed him SD?
Think for yourself.
Sickdollar, perhaps a self-help book (or worse) a seminar is involved.
I for one am sick of people / corporations that prey on struggling citizens who blame themselves because of what this economy has done to everyone. Namely, pay us and you will find a job and or make some money on the internet etc.
NO DEMAN, NO INCOME, NO JOBS
@ SickDollar,
Fuck'm. He wasn't ypur friend to begin with. He's PsyOp'd, Propagandized & believes every Scripted False Narrative feed to him by the Criminal Deep State.
He'd be the first one to give you up when TSHTF. He did you a favor. He definitely doesn't buy into the following because it would make his head explode & lacks critical / intellectual thinking skills.
All based on the Criminal Fraud UNITED STATES, CORP. INC. "Full faith $ Credit" of The American Peoples souls / Birth Cert which are nothing more than financial instruments / Bonds secruritized & traded Slaves on the Global markets.
Hey, don't feel bad. Most people can't accept unhappy facts. Boy, are they in for a rude awakening.
It seems that the first scenario is the most probable as described: “SYRIZA forms an autonomous government, or, a coalition with the help of the parties of the anti-austerity front. It will be the worse scenario for the global financial mafia as it could trigger an "uncontrolled" general rise of the Left in Europe. In this case, the banking-media dictatorship in Greece will declare war against the new government, try to destabilize it, and throw it from power as soon as possible. [...] Especially in the case of scenario 1, the ECB will blackmail the government by threatening that will not purchase government bonds, therefore cut liquidity, in case that Greece choose a different path towards the reconstruction of the social state and labor rights, bringing minimum wage at pre-crisis levels, etc.”
"the fact that it has aligned itself with a just as rabid anti-Europe party will actually end up forcing Tsipras hand to deliver on at least some of his anti-bailout, anti-Troika, promises, all of which Germany has shot down apriori. "
seriously? To Potami (The River) a rabid anti-Europe party? actually even Syriza is not a rabid anti-Europe party
It still wishes to find a solution about the debt, not an exit from the EUR and for sure not an exit from the other club, the EU
-----------
"And while bankers across Europe were fast to talk down the possibility of a hardline Syriza"
LOL, I see enough "members of the financial community" talking up this possibility. Whatever shakes the market, eh?
a grexit would be good for the euro (long-term). they need to lop off the gangrenous limbs of the club med asap.
I've just heard quite a lot of Germans talking about a deal with Greece: "we strike this debt, and you exit from the EUR but can stay in the EU". but I don't see it as a serious proposal
I wonder how long it is before Sexy Alexi is meeting with Mr. Maslov?
http://www.greece.mid.ru/eng/embassy/ambassador/biography.html
Today's drinking word is........rabid.
I said it before when it gets real Germany will eat 80-120 Billion Euros as the price of kicking the can another 18 months or so...... Perhaps they will get the IMF (US taxpayer) to kick in as well. What you are seeing is the financial equivalent of the movie 300.
Most likely scenario is more of the same. Perhaps a little tweak in taxes and some jawboning about debt relief, but the Troika ending up getting its regular pounds of flesh and the greeks (and their children yet unborn) consigned to nothing more than slaves to the creditors. Stupid, untenable, and grossly offensive to any right thinking person, but that is what is happening in the West everywhere else with this race to the bottom anyway.
BUT just for fun think for a moment about a possible sigma 58 event, something in the region of say, the Swiss de-pegging from the euro. :). What the new Greek coalition govt wants is most likely debt restructuring in their favour and staying in the euro. Their only weapon is the threat of default. Let's imagine that it all goes horribly wrong over a minor point in the negotiations, the young leader of Syriza deciding to test the resolve of the Troika over a point of personal pride - maybe tax rates, maybe entitlements he had already promised the greek people - both sides thinking the other will give. Then at crunch time, the unthinkable happens and the Greeks do a hard default on their obligations. Instant collapse of major banking sectors will ensue over the CDS derivatives market, the BIS will be flooded with calls to deny the default ever happened, and since this is all off book, it will be confusion and chaos over who owes what to whom for months. Ultimately ending with the realization that they are all bankrupt, with their losses in bonds, inability to collect insurance, and with the counterparties sued over money they never had to indemnify. Systemic collapse begins in earnest hitting every major investment bank in the Western hemisphere and the headlines say, "The world was one giant Lehmans waiting to implode". In banking, it takes a nanosecond for an asset to become a liability.
While we chew over the usual financial msm mouthpieces talking up and talking down the various scenarios for their own gains in the deluded arrogance of knowing the outcomes, 2015 could well be the year reality smacks everyone in the face. (But then I say that every year).
I'm thinking that we will see more bullshittery combined with some utter tomfuckery by creating more euphemisms that will allow both parties to save face and kick the can a wee bit further.
They want to stay in the Euro but not pay the freight and the Brussels crowd don't want to face the sheer horror of defaults before QE can offload the remaining bonds on the public taxpayers.
.
the Truth is, "reality" is not a one-size-fits-all, and so the "reality" face-smack is going to have the same variables
life does now.
there is no sanity in "waiting for outcomes" as proof of "being right" - people will view any outcomes from the same mindsets they view "reality" today. . . and the majority will be led by the nose to the next planned chapter in the narrative.
think, and act, accordingly.
There is only one way for the status quo to be broken and for Greece to improve. It was put well in a blog I reade earlier.
Perhaps Greece can become a leader like it was in ancient times and throw off the banksters!
"Perhaps Greece can become a leader like it was in ancient times and throw off the banksters!"
I hope, but doubt.
I think its hilarious that leftists think austerity was the problem. So what's their solution? Triple their pensions, cut their workweeks in half, and guarantee a minimum wage for everyone?
If the people have no jobs, the government doesn't make tax revenues. without tax revenues and less government spending, the debt could never be repaid. So slashing jobs surely isn't the solution...
The government should have neither the power to eliminate jobs or grants jobs. And who cares if the government gets tax revenues? I want all government budgets worldwide to go to ZERO.
so you want to deprive Peoples the sovereign right to form their nations and to take care of their national affairs, including their own taxation. I get it. bad, bad statists, eh?
that your wish is a tad... imperialistic is probably something you never noticed. imperialism starts with asking the whole world to think in the same way about something, didn't you notice?
let me guess how you want to enforce your Empire of Individuals on this planet. you don't seriously think that it could be done in a different way, do you? After all, we are talking about curtailing the Freedom of Association
interestingly, many megacorps are of your same opinion. they would prefer to exchange the soldier with the mercenary, and the judge with the "private arbitration panel"
reminds me of the logic of the East_India_Company. then I'm quite sure you don't want to restrict corporations, just states, don't you?
in my humble opinion if we would follow your advice we would exchange an imperfect world of sovereign nations with an empire of megacorps. in fact, many of the conflicts we see do feature Imperial Neo-Corporative Mercenary troops versus State Armies, as when the East India Company was carving up the subcontinent
Will these companies hold you at gun point to use their product?
Patience...
They're working on it.
Obamacare
What do you think was the main fact of the privatized social security movement?
no need to point the guns, when corporations own the resources you need to survive, then the people will continue to "pay" them for survival.
an example? virtually all USFUDstuffs contain GMO'd ingredients, and despite over 90% consumers wanting labels, corporations get to say "no" - if you're not sourcing all your own foods - and most don't - then you get whatever poison in the current human experiment THEY feed you, including most tap water, pharma, vaccines, and "managed air qualities".
this faux choice of "products" offered crumbles under scrutiny. Ghordius rightly points to the history of "corporations" - to exist in a corporate farm reality, as their live-stocks to be skimmed until use-less, it's a huge chunk of hard reality to digest. . .
judging from what Syriza's Tsipras promised, a re-discussion of the Greek debt with the creditors of three-quarters of it, a re-balancing of the Greek budget away from the focus that was asked by the IMF and more just taxes, with an eye of terminating all that cozy deals that the local "Greek oligarchs" had with the state, i.e. terminating "crony capitalism" in Greece
he said often that austerity is not the same as balancing budgets. we'll see how this is traduced into Greek law
More just tax like the 75 % above 500K € !?
Hint: even France abandon the 75 % tax, even members of the socialist party admitted it was stupid and only pure ideology...
And I've read about the Syriza program and saw a lot of stupid leftist ideologies who are just unsustainable !
Hint: Greece will go Venezuela and third world...
does it make sense to cite French laws in a Greek political setup? where the opposite is valid, and some of richest pay the least amount of taxes?
In case you don't know their program they want to tax at 75% above 500K€.
So citing French law make perfect sense since we have that same setup.
Giving that fact that socialism never worked the outcome for Greece is crystal clear for me.
Third world like the US from 1939-1964? When the top tax bracket was 75%, and even higher?
Please...
.........a $100 minimum hourly wage. We want everyone to enjoy the good life........
the rich in davos had their appitites ruined with this vote..they will take action to make sure lock step is maintained good order and power remains in approved hands..a few accidents may be needed.
I think it's hilarius that anyone thinks there was anythig like acual austerity going on in Greece, or anywhere in Europe for that matter. Kind of like how reductions in the rate of growtho of our own Goverment cancer are sold as cuts.
I'm always confused by ZH's stand on this stuff. So, we should celebrate a party winning that wants to overspend, overtax and overregulate because it sticks it to the goons in Brussels? The only thing different for the Greek people is that it might be drachmas they can use for toilet paper instead of Euros and their middleman in Athens whacked the big boss. The New government is going to do the exact things that got them in this mess in the first place - overspend and make pension/welfare promises they can't keep
Greece can't live with Euro, Euro is too expensive to them.
Ask Argentina. they had lots of inexpensive currencies. funny thing, inexpensive currencies. they are so in the short run, but in the long run, they aren't
but don't listen to me and pile up some debt in some inexpensive currency. note, though, that they tend to ask for higher rates of interest. strange, isn't it?
For fuck sakes, are you serious? Look at Argentina? Seriously?
You are pro euro, we get that, but it's about time you also understand that the euro has destroyed the south (after an initial period of euphoria) while strengthening the north. It's unsustainable, and no matter how much political capital had been invested in the "project", and no matter how much power had been usurped by Brussels, it will end.
It's not Syriza that will end it, it's wealth disparity which is becoming more obvious by the day.
this "the EUR has destroyed the South" is a myth. you either pile up debt or your don't. Yes, as in the case of Argentina. And you are either competitive, which is a hurtful process, or you don't even try
the currency devaluation thing is like taking a few pain-killers and expecting them to solve the root causes
yes, the EUR was the currency with which many megabanksters flooded Greece with cheap-looking credit. the "enemy" is debt, and perhaps the debt peddler, not the denomination
Turkey was flooded with cheap-looking dollar loans. ZH made many articles on how the dollar flood levitated everything on the Turkish stock markets, remember?
the average American was flooded with proposals for credit cards. Yes, "the dollar" destroyed the American citizen? by what, by being too hard or too soft?
your argument is that of the "you know, they will devalue". Well, yes, if "they do devalue", they will get higher rates, in the future, won't they?
having said that, in Europe we nearly all agree that the Greek debt has to be restructured. we are just waiting on Tsipras to start arguing about it
taraxias, here is a comment I wrote with more details about this situation in Greece
edit: what the hell, I'll just post it again (originally written on Jan 7th)
first, as usual: GreXit would be about the eurozone, i.e. the monetary club, not the EU, the trade club. The two things are completely separate
second, as usual: a greater majority of Greeks don't ask for GreXit. The only one damn thing Greeks agree on is that they want to keep the EUR (and no, a discussion like in the UK about leaving the EU is not even contemplated, in Greece)
third, even Syriza is talking about the debt, not the currency
so let's have a look at this debt. The Hellenic Republic has a sovereign debt of somewhere around 170% of GDP. Which, if you don't look at Japan, would look quite unsustainable
who are the creditors? Well, the Troika is the major creditor, for three quarters of it. Yes, the IMF, the ECB and the the EU (via stabilization funds which are actually German, Finnish , Dutch and so on) are the creditors for a Greek sovereign debt around 130% of GDP, with many others, including banks, private investors and so on making out roughly 40% of the GDP
how much interest do the creditors charge? Well, here it starts to become interesting. The Troika charges... nothing. Until 2023. I repeat: the EU/IMF/ECB creditors bailed out Greece with a sizable package that amounts to 130% of Greek GDP and charge nothing until 2023 for it. The remaining 40% "legacy debt" is with the interest rates of the normal sovereign bonds
why is interest important? It is because it is a fact that debt breaks the debtor only when interest service is too high. I can owe one trillion, if my interest payment is zero... it does not hurt me. The generally accepted level of "too much" - for a sovereign - is around 25% of it's budget
why do you mention the budget? because it's all about the budget. And national pride, but later about that. What is the eurozone? An alliance of sovereigns that want to share a currency and agreed to have balanced budgets for that. The two things can't be disentangled, it is and always was the scope of the EUR. The request from the Troika is for Greece to balance it's budget (as per treaties of which Greece is signatory). Since Greece has only to service a debt equivalent to 40% of GDP, it was deemed as possible. In fact, the 2015 budget, for all that the Greek Parliament passed it "in defiance to the Troika", is quite balanced
why do you mention... national pride? because for many "firebrands", in Greece, in Germany and so on, all this is, increasingly, a matter of national pride. Here I leave the facts and enter personal commentary, then a story of betrayal or trust becomes quite emotional instead of factual. I maintain that there are factions among the Northern Europeans that feel repeatedly betrayed by Greece, while in Greece there is a feeling of betrayal from the political establishment, the "oligarchs" and the Troika of IMF, ECB and EU northern countries
Recently Dimitri Papadimoulis brought it to imho an excellent point: even for Syriza, the goal is/should to bring Greece back to the peerhood of the european nations, to restore Greece as a "normal member of the community, of the same standing and with the same rights as the other EU members" (my traduction). Which means an affordable debt and a balanced budget coupled with an economy that finds it's path back to competitiveness
And this is the real knot of the thing. Greece has many problems, but talking about complete fabrications, wishes and speculations don't help Greece. I find it very unfortunate that many discussions go around the above facts. We are here in the eurozone all citizens of our european sovereign nations. We want them to be proud, and be proud of them
Greece has the damn right to be part of any club we set up, as well to leave any of them if Greece wishes so. That's the spirit of both EU and eurozone
Syriza has the damn right to address the debt question during the election campaign. The creditors have an understandable irritation that this question is being addressed now, in 2015, instead of waiting for 2023, then this damn "can-kicking" exercise has some tactical merit. Samaras... well, even he has some right to put it in a GreXit manner, then there is a need for the Greek electorate to understand that the european partner's goal is to keep Greece in the alliance... sofar Greece wants it. And wanting the EUR means... wanting balanced budgets
Once Greece is on the path of balanced budgets... well, then debt would have to be addressed. No question about that. Though... well, there is again the question of interest, then it's debt interest service that makes debt sustainable or not . What kind of interest would be charged after 2023? Does that debt have to be serviced at all? Can't it be just canceled? No, the answer would be no if posed now, with the very first balanced budget not even a few months old. (Of course the IMF will want to get it's part back)
so the real question in the long run is this: balanced budgets or not. cue in the discussion about Austerity or Not
note I haven't addressed neither the damn Vampire Squid Firmly Wrapped Around The Face Of Humanity nor corruption nor anything else too controversial, or so I hope, then in the last years I've upset many proud Greeks, like Taraxias, to which this rant is dedicated
"then in the last years I've upset many proud Greeks, like Taraxias, to which this rant is dedicated"
the red arrows above are not from proud greeks ... au contraire, from people shall we say more educated than toi ... hopefully, over the next 6-8 months you will look back ... however, given your long history in ZH and persistent views it seems to me you are a hopeless case.
Like the friendly Uncle stuffing the kid with candy and then complaining the kid is fat and needs to go on a diet.
Maybe Fatty would be better off telling the Uncle to fuck off.
He will still be fat and won't have any candy, but it's still better than having Uncle whipping his ass while on a treadmill.
Fatty will soon get thin enough by eating his peas without the candy.
Uncle has other fat nephews to play with. Much fatter kids.
Think for yourself mate. ZH may style itself around Fight Club but just looked what happened to the members in that film. They exchanged one form of slavery for another, from consumerism to survivalist Borg-like anarchism. Tyler Durden had a gift for brainwashing and desired nothing more than to see the world burn.
ZH just shows you a small part of the other side of the coin. To rely entirely on it is the same as relying entirely on MSM.
Too true Mate.
I will however be forever grateful for the "most shorted stock list"
Betting against it, and the results of those bets has made me seem like a financial genius.
As to others... well...
There are none so blind as those who will not see.
I think Zero Hedge is pretty consistent in its position. They want a Market system back with true price discovery and non-intervention... Let the fallout be damned. The Greeks, let alone spanish, italians, and americans cannot support their debt levels. The system is on artificial life support. The bigger the bubble blown to support these systems the louder the inevitable pop will be....
Communism in practice leads only to genocide but the current CB manipulated system is a lie, anything that hastens the moment of its demise is OK. Celebrate that.
So....who were the emergency buyers of Euros last evening once it hit 1.1100? Also was it the same buyer that panicked and bought all contracts for CU at 2.4201?
Who do you think. The BOJ obviously intervened soon after futures opened levitating USD/JPY from -30 to +50. They've been dumping yen all night and buying everything in sight
I would guess the currency desk at the NY Fed was buying euros......
pop in the EUR today and I buy puts on fxe
Pictures.....or it didn't happen.
gold and silver down on this news very confusing so the manipulators are still hard at work all is fine no change
It's not confusing.....they print money and they throw it at it.
So far......so good.
Im guessing some liquidation to cover margin calls in Long Euro trade......
"gold and silver down on this news very confusing so the manipulators are still hard at work all is fine no change"
"This is an excerpt from Ed Steer’s Daily Gold And Silver Newsletter (subscribe here), authored by Ed Steer: "...biggest one-day withdrawals in my memory, as an authorized participant took out a stunning 6,749,403 troy ounces. What the **** is going on?" http://goldsilverworlds.com/physical-market/nobody-understands-this-huge-scam-in-the-silver-market/
"g; they’re not talking cause they want to keep buying at the low price- all the while they were heavy selling it at the top of the last run up(near 30). Greed is everywhere u care to look "
"tom d; They do not cover anything real on the business news. Only paid sponsor get covered. Silver is and always has been manipulated at least since they did in the hunts brothers by changing the rules. They earned there is lots of money in an uncontrolled market like the comex. "
The hedge against the hegemony
That Syriza so crisply moved to form a coalition with the Independent Greeks when they had other options for forming a majority shows that this was a deliberate strategic move. It is the Greek equivalent of a coalition between Dennis Kucinich and Ron Paul, and amounts to an alliance between the working class and the patriotic capitalists.
This is emphasized by the reality that Syriza could have formed a government with Potazi. Or with the Communists! No one mentions them, but they won enough votes and seats to put the Syriza government over the top. Syriza thus had options, and this is what they quite deliberately chose to do.
It is a move that will I predict shake the foundations of the European political establishment and trigger a grand realignment that has been forming beneath ths surface, and not just in Southern Europe! A realignment not so different from what has been happening in Russia I suspect!
It's easy to determine what to do - clean up the neighborhood by kicking out the criminals [bankers]....Works every time!...
It would be like the night of long knives......only in reverse.
This whole nailgun thing needs to be accelerated.
Nothing new under the (Greek) sun.
http://i.imgur.com/oYr4LxF.gif
Heh heh.....nice.
The next guy will give us more free money.......fer sure.
gold get's sold dollar gets bought
Cause you can't make a good bonfire with gold.
Wow, the far right and far left coming together to topple the status quo. Sounds like a blueprint we will see followed elsewhere (Tea Party + Occupy Wall Street, for USA example).
If you give me Pelosi......I'll give you Boehner.
Deal?
We need to re-think what we mean by "right" and "left". Originally, long ago and far away, Right meant the representatives of the aristocracy and Left the representatives of the regular people - which included working-folk, farmers, craftsmen and small business-people and manufacturers. Now the terms have been convoluted with a whole raft of hot button issues promoted nightly by the MSM version of Fight Club. We could try to redefine them - or we could, as Kucinich does, sidestep them and tali about the divide between the top and the rest of us.
So the Dax hits a new record high on this marvellous news LOL
Who controls the 'Dax'? The same people who have been suppressing the price of Gold & Silver the last 4 years! Markets are manipulated, why has Russia not collapsed, as they said they would? Russia are being forced to sell Oil in US$ BUT, they then buy Physical gold with them dollars at a nice low price thanks to US?
Now that Russia, China, India, et al want to leave the 'petrodollar', the powers that be are rising in anger and threatening Russia, because they need a war to hide the crash behind!
Greece's best move now, would be to approach Russia as a 'HUB' to transit their Oil / Gas to Europe, that would really frighten the money men!
Probability of a military coup in 2015: 66%.
"Merkel's lawmaker concludes that the Greek left is “a bit blinded by their ideology,” and that the German-led approach has worked in other euro-area countries that received bailouts."
Mr(s) Merkel: I live in Ireland, and it hasn't worked here at all for anyone who isn't part of the banker/political class.
So go and fuck yourself you arrogant cunt.
It worked to save the bankers, she didn't mean that it worked for you.
But I agree, fuck the ugly cunt.
The Troika making the Irish pay for water- doesn't get any more ironic than that!
Despite all that European markets are soaring.....
Printer 6 is starting to smoke.....better keep an eye on it.
....if we can just get though today....we can do it all over again tomorrow.
It is fitting that Greece, once the cradle of democracy, should be the country to seize power from the neo-feudalists running the EU. Now let us hope other countries follow suit.
"Merkelism,” he says, is in his sights.
Well that big fat cow should be an easy enough target.
Syriza is not the medium/long term solution to Greece's dire economic troubles. Hard Left ideologies never are. Recovery remains in the hands of the people.
If Syriza succeeds in ridding the nation of its corrupt oligarchy system - it has assured us it will - that will be one of the first steps in recovery. But since the Greek political centre of gravity is way on the Left (even the so-called Right-of-centre parties are mostly Lefties, just like Spain), I am not hopeful.
+1 meaning that even you, a "rabid" hater of socialism, could imagine a bunch of socialists getting rid of some cronysm and restraining oligarchs ;-)
I am somewhat more hopeful
ha-ha-ha. Very good Ghordius.
However, the operative word in my previous comment was "If...".
Therein lies the challenge for Syriza. Can they, will they actually rid Greece of corrupt oligarchs? Or will they simply replace the current lot with their own oligarchs and plunge Greece into even more disintegration? Brussels, IMF & Berlin will be working towards the latter as punishment for not following orders.
As a by-the-by, since Syriza is stuffed full of old Commies and Maoists, I'm expecting the Portuguese Barreloso to apply for membership. After all, he's got no meaningful work at the moment since he left Brussels :-)
Very simple.
Tsipras and Varoufakis will try to expropriate current oligarchs so they become new oligarchs.
It is that simple.
Junta in Greece possible again, after Greece runs out of food and electricity, assuming syriza follows through with their plan.
Yes, very simplistic.
You probably still believe in the left-right paradigm, too.
I read world history.
Old oligarchs replaced with new oligarchs. Libertarianism is Utopia. It has never happened in world history and it will never happen.
That is world history. There is no way around oligarchs.
Each one of us wants to be an oligarch
The herd's choices are:
Oligarch A
Oligarch B
Oligarch C
etc.
There is no other choice. Pick your favorite oligarch to rule over you. That is how a herd of humans functions.
I opt for the ideal of having everybody treated like an Oligarch. It's the ideal of Citizenship in a Republic founded on a constitution and democratic principles
having said so, it follows that Oligarchy, left unckecked, is the enemy of the Demos. nothing new the Greek history, going back to Solon and his reforms
I'm with you Gordo on that one.
You would think that once such a simple, yet radical, means of self rule was established, that the people whose fathers bled for those ideals would be vigilant to retain those rights inherent in a republican form of governance.
The problem, as always, is human nature. Self interest trumps the duties of enlightened citizenship that such a system demands.
It's always the damn humans that screw up a good idea.
"I'm busy, someone else will take care of it."
Oh, they will, buddy, you can bet on that.
And here we are.
Extremely well said.
But the herd will never ever get the point. Except maybe some for a second or two or three.
So your comment, despit being 10000000000% right - is completely useless too.
As they will never ever get it.
You could as well talk to a tree or a river or a fox or a worm or something else.
And that woudl be stupid too.
Or not. Who cares.
"There is no other choice. Pick your favorite oligarch to rule over you. That is how a herd of humans functions."
That's quite a nihilistic approach.
Someone "reading world history" a couple of centuries ago could conclude that there was no way around slavery.
No, each one of us does not want to be an oligarch. There is a lot of us wondering outside of the herd perimeter. It might feel lonely at the moment, but sooner or later "the herd" is bound to realize that it is ultimately being led to slaughter.
The trick is to recognise that 20% of the top echelons in any society produce 80% of the wealth levers whereas the 80% produce 20% as executing peons. True wealth, to endure, has a reactivity and proactivity (inherently innovative in adaptive dynamics) component that only the 20% provide. Fed by market or by state qualitative decisions based on notion of collective good. Both are valid needles to ensure movement in society provided there is transparency and accountability.
A republic ensures that both categories can coexist PROVIDED there is cohesion around a constitution fairly applied that ALLOWS social mobility up and down for the elites to renew in each generation and to avoid feudal/tribal sclerosis.
That democracy is the expression of MINIMAL human rights, which ensures that the RUBICON of feudal oligarchy never be crossed, stays the foundation of the republic.
If the republic moves to Oligarchy then we lose the social cohesion and mobility. We go despotic and social order gets frozen to feed status quo.
Ethics, logic, pathos and primacy of fact to ACT and assume responsibility, better or worse, and use historical analysis to recycle knowledge and corrective actions. When historical analysis is not enuff to cross a new horizon we ALWAYS move to empiricism based on twin Inductive and deductive reasoning; aka top down and bottom up logic to find synthesis.
This is a rather condescending view of the 80%. Falak Pema must be fucking asesome or something to understand all of this.
I'm sure there is a job waiting for Falak Pema on the Romney Satan 2016 campaign.
hey, its better than the 1% reality.
And its in line with history. The guy started from that premice.
Since when has morality run the world except as a lie to serve the prince or pope?
Still dreaming of Utopia?
We are talking about the Power mantra in history. The knowledge mantra always opposes it by trying to increase the base, a task in which it seldom succeeds. Sisyphus.
Syriza may not agree with Juncker's "When it gets serious one has to lie". If the honest truth is that Greece's debt level implies the debt cannot be repaid, why beat around the bush? Demand 50+% debt forgiveness!