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If The Troika Says "Nein" Tomorrow, Here's What The "New Drachma" Will Look Like
While Greek officials remain 'confident' of their ability to deliver a reform package that the Troika-esque "institutions" will accept tomorrow (notably a bank holiday in Greece), it appears the Germans are not so sure. Hans Michelbach, a finance expert of the Christian Social Union, told the Handelsblatt newspaper it is "inconceivable that the German parliament can make a final decision on the bridge program for Greece before the end of February." Having already seemed to capitulate on the promises made to the electorate, and now beginning to crack down on tax evasion, we wonder how long it will be before the dreaded 'Drachmatization' occurs (by dictat or revolution).
After the cabinet council on Saturday Yanis Varoufakis told reporters...
“I am almost certain our list with the reforms will be approved by the institutions, they won’t say no. If institutions say No on Monday, there will be a eurogroup meeting on Tuesday. I hope they say Yes.”
The Greek proposals are thought as structural reforms to be legislated and implemented for the time of the “Bridge-Program”, but the "institutions" do not seem as confident...
The German parliament is unlikely to approve extending Greece's bailout before it expires at the end of the month, a senior lawmaker of Germany's ruling coalition said Sunday, according to Bloomberg...
Hans Michelbach, a finance expert of the Christian Social Union, told the Handelsblatt newspaper it is "inconceivable that the German parliament can make a final decision on the bridge program for Greece before the end of February."
The CSU is the Bavarian sister party of Chancellor Angela Merkel's Christian Democrats. The finance ministers of Greece and the other eurozone countries agreed on Friday to an extension of the bailout program for the highly indebted country, which has to be approved by the parliaments of some of the supporting countries, including Germany.
The Greek overhaul proposals must be examined thoroughly by the governments and the parliaments, and that process won't be concluded by Feb. 28, Mr. Michelbach said.
If there is a "nein" tomorrow then Tsipras has stated that he will call for an emergency Eurogroup meeting on Tuesday.
Meanwhile, as The BBC reports, as if the capitulation on promises were not enough to stir the angst-ridden heart of the Greek population, the Greek government will crack down on tax evasion and streamline its civil service in its bid to secure a bailout extension, minister of state Nikos Pappas says...
The government is working on a package of reforms that it must submit to international creditors on Monday.
If the reforms are approved, Greece will be granted a vital four-month extension on its debt repayments.
Mr Pappas said the reforms being proposed would take the Greek economy "out of sedation".
"We are compiling a list of measures to make the Greek civil service more effective and to combat tax evasion," he told Greece's Mega Channel.
He added that talks this week would be "a daily battle... every centimetre of ground must be won with effort".
* * *
And so, while the world appears to believe a deal is done... it remains very much in limbo at the mercy of the Germans. And in case anyone was wondering, The Greeks have already drawn up the "New Drachma" notes... just in case...
As News247 reported in 2013, the 6 banknotes (designed by Paul Vatikioti) of 50, 100, 200, 500, 1000 and 10,000 drachmas have pictures of Cornelius Castoriadis, Odysseus Elytis, Yiannis Moralis, Georgios Papanikolaou, Melina Mercouri and Maria Callas...
* * *
Good luck tomorrow Yanis...
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Or "Venezuela Gold" as we have come to know it recently.
Trojans?
stop asking questions .....
Roundabout its value.
The scrap value of paper.
Why don´t you show us the 100.000 and the 1 million Drachma notes?
Silly man.
That would be telling;)
No kidding...we be needin' some mo' zeros.
Or better yet just leave a blank line where you can write in your own number.
If they leave the ink off, the paper will be more valuable in the near future.
Why not go paperless. Be the first to do it. ( besides USA EBT beta test).
Everybody gets a National ATM card.
Just brainstorming here. Would save a lot of ink and paper. And make it much easier to collect tax and generally fuck the population.
Better him than me.
They might be tiring of fucking us.
good point paper less and then the gov can tax everything
Those get announced next week. The 1 billion note is probably on the April to-do list.
I'm disappointed, none of Merkel with a Hitler moustache. Would've been perfect
No no, that is the next €500 note.
I would suggest putting Schäuble and his wheel chair on the notes. Maybe some stupid idiots think it´s the new Mark and it´s worth something.
This is how they will pay back their debt.
Hitler did fuck it up for us moustache dudes. I might have liked to try that cut. But it's like tattooing a swastika to your forehead. People might think you have a screw loose. Maybe.
One of them is smoking, kill the Greeks!
Relax... When the 'NEW' USD comes out, Barry Blue will be smokin' a pole...
Thats a young Franklin Roosevelt!
Just two women, and noone from Somalia. I am deeply disappointed.
They're sexist AND razzzist?
Holder needs to start an investigation immediately, bring them before the Hague! Where were they last November 17th at 3:33 PM and do they have any Swiss bank accounts?
Helen sailed away with young Paris & changed flags. It's a TRUST issue.
No Blankfein note? Probably just an oversight.
Hmmm.
I expected Che Guevara.
The Che note comes after the Blankfein.
No such oversight at the US Mint, where you can have your very own Hank Paulson medallion!
https://catalog.usmint.gov/henry-m.-paulson-jr.-secretary-of-the-treasur...
And check out the description of the reverse: "The image of the peregrine falcon represents Secretary Paulson's commitment to conservation and his long-time interest in birds of prey."
They're laughing at us.
oh my god. they are laughing at us. i am actually going to buy this. what i will do with this, i can't tell you. but, considering how much of my work paulson sucked away, it will not be pretty. i am going to buy one.
Urinal target?
interesting that ... whatever it is worth it will be like dramatically devalued day 1, but what about when it stabilzes at a low value and Greeks start transferring back billions of Euros?
Better put a "0" after each one of those bills.
ok, it been posted 300 times so far....we GET IT
Not even funny, BTChez.
The Greeks make a deal with Putin? Banks closed on Tues. Greeks tell Troika to "suck a dick." Putin has new bases in Cypress. It would be delicious.
we can all dream, can't we?
But John Mccain's impassioned claim today that he is ashamed of our country will certainly get AMERICANS ON BOARD WITH INVADING UKRAINE ON OUR LONG MARCH TO MOSCOW. Certainly we have learned from Napolean and Hitler's mistakes. If we invade in early April, it will all be over by the end of summer. The Russian people will welcome us as liberators-Am I not Right?
Sounds like a sound plan. What could go wrong?
I'd follow noble John McCain into battle!
What? He won't be leading the charge?
Funny how that works, old men start the wars young men die in.
Now a real warrior (like say, Putin...lol) whould be right out front, preferring to die there with his men than in some warm palace in Moscow.
Funny how that is ;-)
Yes, in the old days 'leaders' were given that title because they did just that - lead.
Can't see any of these fuckers doing that, except maybe the more unabashedly sociopathic ones, like El Baghdadi and Osama.
I could see Putin mixing it if he had to. He was in the KGB and is a martial artist so I doubt he lacks physical courage.
Go for it. Be the new Switzerland . Safe and secure place to park wealth, and tell Uncle SAMs IRS to fuck off.
We can trust the Greeks, right?
Never trust Greeks bearing gifts. or was it grifts? Oh well...
Maria Callas was the mistress of aristotle onasis while he was married to jackie o. boy was gettin all the good pussy.
...He didnt have all those boats for nothing!..."Im on a boat mutherfucker" style...
"Offshore Drilling" used to mean something else.
Crack down on tax evasion.. that's a good one...
All you have to do is ban all taxation of the rich -that way there will be no evasion. The trickle down benefits of the rich make them too important to pay taxes. Am I not right?
Anyone know what the ISO currency code of the New Drachma will be should it be reintroduced?
The appearance of the law must be upheld, Especially when it's being broken
where is the 50BN note? I want breakfast and it should buy me an egg or perhaps a few olives
This could be a form of "bait and switch". Whereby, publicly, Greece capitulate to the EU so the EU looks like they aren't messing about when it comes to being in the EuroZone. But privately, Greece gets the majority of what they want; that's the part no-one ever reads. A bit like reading a misleading headline without reading the full article.
Personally, I have a feeling the Germans, pardon, the EU will accept Greece's proposals, even if it doesn't fully follow what they want. It will bring a few months stability while each side figure out what they want to do.
One thing is for sure, no matter who wins, gold and silver will lose....
The 'New Drachme' is a bullshit story.
needs coupla more zeros on each...
there's no way that design has room for all the extra zeros they're going to need
Or will the new Greek Drachma look more like this:
http://www.silverdoctors.com/a-new-way-to-hold-gold/#more-51058
Does the Greek nation still 'own' any Gold? Or was it taken when the bailout was signed.
Hey Cog I really like the story over at TiF. Good stuff. Channeling again?
The gold is all held at the BoE, FRBNY and BoFrogs and was pledged against a prior trache of the Troika loans, meaning accessable to pledgee.
You didn't think that Goldman was gonna leave here empty handed didja?
la la lah la lah lah la
Who cares if they own gold?....It's not like anyone would relinquish thier gold if asked
The gold standard is so pre Nixon.........
"inconceivable that the German parliament can make a final decision on the bridge program for Greece before the end of February."
Sorry but we've been down this road before. Merkel will "agree" to it while sidelining the Bundestag. They will get mad, have some German Econ professors sue in the Karlsruhe. The Court will say "This is bad, terrible, and unconstitutional, but we'll allow it yet again". And everyone will be angry but at the same time breath a sigh of relief.
It's friggin 2012 all over again.
It's not a done deal until all the shakedowns are complete.
"skullfucking"
Put politicians on the new banknotes so that in the event they become worthless they can still be used ss toilet paper.
Sadly, no Reagan notes.
Syriza seems to me like more BULLSHIT
50/50
Its a start. Bring some to the next negotations. Make a big deal out of them. Make a single with a picture of cheese on it. Or a glass of uzo?
No Jackie Onassis bills?
"Our accounts are as bare as my head is bald."
This is almost funny.
The Greeks are going to hell in a handbasket.
Yeah sure, they are going to fix tax collection and corruption, just like they have been for the last 5 years.
All I have seen is tax cheats having their names removed from "Lagard's list" and an outflow of euros.
No one from the previous government (including banksters) has been arrested or prosecuted for putting Greece in this predicament and probably never will (it is a family business after all).
The whole world operates like that, whats the big deal? You act as if the Greek govt is the only one that operates like this . . . the only reason Greece stands out is because it has a small population and the problems the method of operation creates propagate faster under a low population environment.
Greece is the lamprey eel of the EU.
It's problems get magnified because of the rampant nepotism.
At least when a dictator gets overthrown, there is a chance for real change.
All the governments in the EU - in the West, in fact - are spending more than they are taking in. Is Greece corrupt? Yes. Is it just a few years ahead of the rest of the pack? Yes.
The Greek overhaul proposals must be examined thoroughly by the governments and the parliaments, and that process won't be concluded by Feb. 28, Mr. Michelbach said...
Why the delay? Why don't they just pass it Before they read it? That's the way our Congressional members do it here.
Pelosi's application of US Congressional rules are Awesome! I'm sure they'll be codified even better once the NWO is fully implemented. These Gemains don't know what they're missing.
You're too young to remember Newt aren't ya?
A former Greek minister, Michalis Chrisochoidis, actually employed the 'I didn't read the MoU' defense so he could explain why he signed it, since it was agreed that it was a horrible agreement for the Greek people. You just can't make this stuff up.
I'm not sure what the ND would trade at.. When the Drachma was retired, it was 340? to $1USD
Today, I think the 1k bill is probably the starting point.
So what? It's the American Peoples that will have to buy back their debt and if the Greeks get 1000 drachma for the each $US. held....some will profit, will they not? Think about the outstanding US treasuries that other countries hold. That will refinance their own systems.
What if they back their currency with Gold, and it starts an Honest System?
The 20,000 note should have The Scream by Edvard Munch on it.
Just the begining.
I really wish you guys would just stop it. There aren't going to be any drachmas issued as much as you want it to happen. No one wants it to happen that has any power...including the Greeks evidently. If there is one thing we know with absolute certainty from the last 6 years it's that this can will be kicked
"Give me your tired, your poor, your huddled masses yearning to be free"
Print your drachmas, and be free, don't be slaves !! Back them with olives and feta cheese !!
Why not have photos of famous WW2 German Generals on the notes, would be more accurate.
Why not have strippers?.....Really since we're in frickin' fantsyland any way
In reality the printers will try to be serious , but sex sells, & young Greek women on a Drachma would be a little eye candy
Maybe women doing a little "ship building? "mmmmmmmmmmmm love me some notes
Thirteen naked dancing women, each holding up a digit of 1 trillion Drachmas.
#PrettyDrachmas
Germany needs to pay so says mr. panos
http://youtu.be/Dssn5mUb3D4
I think it should be Alfred E. Newman with "What, me worry?" underneath.
Moar Dragma drama.
those notes are a ZERO short
The new Drachma needs a slogan:
"Hooopaa & change!"
Me, as Austrian, I hope for a big NO!.
I hope, that EU will do down the drain.
"Bridge Program" Right! Caught in a non-stopable shit storm on the way to total bankruptcy, Greece is given a bridge by Germany to safely weather the storm and get to total bankruptcy.
What is it about "Greece is Bankrup" that Germany doesn't get? What Germany doesn't get is that nobody in Greece has got the money to service the debts. So a bridge loan to get them safely to where they are still bankrupt?
The only acceptable Greek program to the EU is one of total Austerity, total sell off of Greek assets, total handing over of all public utilities and health care, and a driving down of wages even further, and to keep that program for a hundred years!
You know what is most crazy though, in spite of Greece's economic situation, hundreds of thousands of Africans and Arabs are loading into boats trying to get there. Sure, aiming for a further north destination, but nevertheless willing to accept Greek life if that is all they can get. Imagine Africa and Middle East, if they see Greece as the promised land!
Let me tell you, most people are not noticing the build up on the North African coasts, but a million people or more are gathering there, and are going to sail as soon as they can. And they are the speartip, of 100 million more, all heading north. Europe or bust! They care not, one goal only on their minds, ENTER EUROPE, no matter where or when, just ENTER Europe. AND STAY!
Absolutely right Jack. I am thinking this for so long now. But is the same not true for the US versus South America ?
I don't think Germany has any problem understanding that Greece is bankrupt. I'm also sure that the German elites understand that the German citizenry is aware that they are on the hook for the default. The elites put it into the political arena. Probably a bad choice.
So, Out of Africa - Part Deux.
Funny how the banksters, and their violence-puppets, don't depict slaves and guillotines on their fiat currency.
The FedRes did get close to the truth with their pyramid and eye thing. They just forgot the tank and rifle circling at its base.
The banksters need to repay us.
According to Merriam-Webster's, "grift" is: to obtain (money) illicitly (as in a confidence game).
Central Grifters
Drachma or not, Greece will probably crash and burn either way. They have been being bribed by various governments and political parties for decades ( not to go communist, not to make civil war, etc.) and their system is broken like so many other nations. So they print Drachmas that no one wants and get free from the evil bankers, then what? Fiat currency bliss? Bwahahahah
Greece needs to leave the Euro and reinstate the drachma. Yes, Like the Italian lira of old, it will be a very weak currency given the fiscal condition of the Greek government - which by the way are on scale less egregious than those of the US. Exports and tourism will grow as the Euro albatross drops away from their necks. The main reason the drama is unfolding is that Greece would provide an example to other Euro countries like Italy, who seeing that Greece can thrive on its own, will also ask to remove the German Euro albatross from around their necks. And then Spain, and Portugal etc. So - the Greek media, controlled by the Goldman/Draghi sycophants, will continue to manufacture hysteria to try to convince the Greek people of the pain and suffering from not having to bear the weight of a vastly overvalued Euro.
nice patterns for toilet paper
looking forward to buying some rolls
simplified for the greeks, start here 1 x 1012
Wouldn't putting Greek Gods & Goddesses on the notes instill more confidence and national pride? I would think there are real people they could put on the bank notes.
don't put humans on the bills, it always backfires. Use animals like the old Dutch guilders.
It is amazing the lengths people will go to refuse realizing reality.
The reality is that Greece borrowed more than they could repay, and defaulted. That is why 'austerity' exists...although the term seems misleading. After all, if living within your means is 'austerity' then what do we call living above your means through a process of theft from others?
The Greek ACTUAL default is long behind us.
Today, and for years now, Europe has been pussy-footing around when and how they will realize the loss. Some say, that given QE, everyone can be made whole. This is a dodge. QE is default, as surely as record-breaking marathon times would be invalid if someone decided to shorten the distance meant by the term 'Marthon'.
Changing the unit of measure does not constitute a fulfillment of responsibilities by any reasonable standard.
So, let's be clear. The Greek default will be realized BECAUSE IT ALREADY HAPPENED. The only question is under what terms it will be admitted. Do the terms invovle Greece leaving the Euro? Do they involve some sort of QE to make the Greek government whole at the expense of everyone else? Do they involve some sort of QE to make solvent those who unwisely did not beware Greeks bearing gifts - again at the expense of everyone else? Do they involve demanding perpetual debt payments from Greeks, just as Germany once was required to pay war reparations, such that those who had no say in the contraction of these debts must eternally pay for them...a new serfdom?
These are the questions at stake. Ultimately Greece is a proxy for all those nations, and elites therein, who want to spend that which they do not have. By the same token, Germany is a proxy for all those nations and elites therein who want to spend less than they have and invest the difference.
Ironically, neither of them are moral people in as much as they both want to expropriate normal people for the benefit of their favored causes...themeselves... one through governments, the other through the banking system. In either case they are unwilling to accept a loss on a risk that they voluntarily chose. In both cases they wish to pass on the costs of their risk-taking to middle class people who had no choice in the risks they took.
The only difference between the two camps is the vehicle they would use to enable further theft.
This arguing about when to admit history is destructive. The only constructive step would be to begin discussing how to really move forward from here.
They might as well save time and add about ten zeros to each one of those bills.
What, no George Gurdjieff?
Didn't he leave Greece aged 6 or something when he went to Kars? It would be a bit of a stretch....
Been meaning to get beelzebub. Would you recommend?
Highly highly so! I've read it one and a half times, GI says read it thrice to really understand it.
Crazy, wild mind-bender of a book!
https://aadivaahan.wordpress.com/2011/01/31/then-again-people-choose-yog...
Thanks for the tip!
Bizarre as to why anyone would vote down your response, then again it is zh....
It's amazing how they can print so much value so quickly. The money looks serious too, which is good when fooling the goyim.
Also funny how the bills aren't worth a penny now, but miraculousy become valuable with the waving of a wand.
the waving of a gun, really
Love the new Drachmas, but will they be gold backed at 1%?
No, of course not, but the pretend-and-extend sell out of the Syriza bought and paid for politicians will be priceless!
Thanks guys you did a good job of proving to the world, what they already figured out. Only question remains... What was your payoff and who exactly paid you?
How many bitcoins does a Greek urn?
I hate to say it but nothing is going to happen that changes the status quo. It's all a crock of shit.
i'm not going to lie, seeing these drachma bank notes litteraly brought tears to my eyes, seeing all these faces that symbolise the natural and peacefull pride of a people: the simple and logical right to have their own currency, in adequacy with their economy and in remembrance of their past...
if only you american could hold euros and see first hand in real life how f**king ugly the euro bills are...
the euro bill design is devoid, on purpose, of any representation of any precise cultural or architectural monument or personnality, in order to forcefully separate european citizen not only of any natural pride from their ancestor's achievement but to separate them overall of any vertuous and intelligent cultural representation, and to favor completely uninteresting generic computer generated "drawings" of generic monuments.
The euro, the project, the currency, is one of the most "in your face" and grotesque attack from the elite
ste123
A french man who hopes for grexit and who is tired of waiting, like all of you ;)
A doctor, visual artist, philosopher, actress, singer and poet.
A nice bunch of modern day heroes. . it would be great if th US followed suit and changed the faces on their currency.
Yes, Bernanke, Yellin, Dimon, Blankfein, and the ever popular Paulson for starters. After all, they're the ones backing the bills, not gold.
Nah. The USD should feature pictures of F-16s, aircraft carriers, and cluster bombs being dropped on civilians. That's what really backs the dollar.
Pictures of nuclear explosions, submarines, and barrels of oil would be closer to reality.
How about a nice picture of Varoufakis with his foot up Dieselbroom's ass?
"If The Troika Says "Nein" Tomorrow, Here's What The "New Drachma" Will Look Like"'
How about all Greek party members with their backs facing and bending over mooning the Troika members while showing their middle finger.
Now that would be a historical currency that every currency collector would want.
Everything OK except that the New Drachma will be printed by the National Bank not the Bank of Greece.
Where's Anthony Quinn?
Anthony Quinn was a Mexican
Zorba the Wetback
Since the new Prime Minister is an athiest how about have his chosen ancestor, Cro Magnon Man
He believes Mao was a humanist
Ya, Mao was a humanist
flooded the rivers with dead Chinese
lovely revolution
40 million down the tubes
Like tree thinning to him
Dear Leader does not even pee or poo
(Watched "The Interview" - actually pretty funny)
Those notes are just the creation of some random guy feeling creative and drawing the 'New Drachma' 2 years ago... The Drachma would look nothing like this.
They won't necessarily even call a new currency Drachma again, they could call it Stater or Obol and still be true to ancient Greek heritage.
http://en.wikipedia.org/wiki/Obol_%28coin%29
http://en.wikipedia.org/wiki/Stater
10,000 Drachma look like the new change will be about USDGRD = 100 or more.
Even the JPY will worth more...
How do you say "devaluation" and "fucking from behind a saver" in Greek ?
As they'll be starting from scratch, here'd be no need for high denominations; they could make 1 drachma = 1 USD.
At least to start with.
And how long would that last? 2 weeks?
Even Bitcoin will look more stable...
i heard kimberley-clark is in line to print these ...
No Putin or Lavrov?
I like how they are already starting with pre-hyperinflationary bill denominations even though they are starting from scratch... 50-10000
Finally Germany is making a stand. Greece must leave the Euro Zone immediately otherwise the EURO will collapse when every member decides not to pay its obligations.
I am tired of these countries like Argentina, Greece, etc. claiming that unless we pay the ransom they demand they will take the world economies down. That is not true so stop playing the game. Greece should be paying what they own or out of the EU. Argentina is so corrupt that they kill the prosecutors if they start investigating the government officials. Let’s take the losses now and move on, MOVE ON!!!
STOP LENDING MONEY TO THESE TWO COUNTRIES!!!!
Stop lending any money to any countries. Just because politicians refer to their populace as 'their' citizens, they have no right to indenture their descendents.
PRECISELY. Amazing how human beings can ignore huge elephants in every room, and pretend they don't exist.
This is why every population needs to 100% DEFAULT on debt, as long as that debt is denominated in any fiat, fake, fraud, fiction, fantasy, fractional-reserve form.
I agree. This is why the running to the hills option is looking better and better to me.
This is why we need to default on the saver who worked all their life for their retirement by saving their capital and then lose everything.
Q: Who are detaining all those bonds ?
A: You and me !
If you want to trigger a revolution (a real one this time) just do that.
We you tired when Greece was forced into a bailout? A bailout that was laundered through Greece and into German and French banks? Did that tiredness extend to the US when $23 trillion of private sector debt was heaped onto public balance sheets?
If they lose their internet connection they can always pull out a 500 drachma bill and get one off in the restroom.
fap fap fap
They should have Diocletian on the 1,000,000,000 drachma banknote.
Put the old greek conedian Harry Klynn on that one.
If you have one in your hands you'll need the laugh.
http://i.ytimg.com/vi/MgyfN0rVmuk/hqdefault.jpg
Soon we will all be passing Obama trillion dollar platinum coin for a pack of smokes.
God DAMN! That is some seriously butt-ugly money!
Could they not have designed something attractive? Something that actually LOOKS like money and not a candy wrapper?
Fiat money is bad enough...ugly money is just a gratuitous extra insult on top of injury. If you're gonna rip me off, do it with some taste and style for the love of GOD!
They won't.
Those bills looks an awful lot like the new US Republic dollar series. You just have some face changes there.
Loose shoes, tight pussy and a warm place to shit. All we all need in times like these brothers....