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Greece May Not Even Have The Funds To Conduct A Referendum
With Europe making it very clear that unless Greece folds in the next 48 hours, there will be no deal on which the Greeks will be conducting their "Greferendum" as Greece will be programless after June 30, there has been ample confusion about just what the wording of the ballot will be to which the Greek population will say Nai or Oxi. As the following latest snapshot confirms, even the Greek side is rather confused and is now essentially telling people to vote on a deal that was proposed once (on June 25) and may or may no longer be relevant.
This takes place even as moments ago Germany's minister for economic affairs Sigmar Gabriel explained just what a No vote would entail:
- GERMANY GABRIEL: GREEK NO VOTE A VOTE FOR EURO AREA EXIT
Even though there was clearly some confusion as the push to set the narrative begins:
- MERKEL SAYS NONE OF US WANT TO TELL GREEK PEOPLE HOW TO VOTE
A clear lie as just moment prior we got this:
- JUNCKER: I WOULD LIKE TO ASK GREECE TO VOTE 'YES'
Of course, Greece is quite aware of this, and it doing all it can to push voters in the desired direction as the front page of Syriza's newspaper today reveals...
... but at this point there is no alternative: since the bluffing game had to be taken beyond the point of no return and both Greece and the Troika have to last it out until the weekend.
However, the problem for Greece may not be one of wording or even maintaining the "game theory" bluff until the very end, but a far simpler one: not having the funds to actually conduct it!
According to Germany's FAZ, "the Greek Court also estimates that the referendum will cost around 110 million euros, according to a well-informed policy analyst. Money that in view of the strapped Greek Checkout simply will not be there, even if the country saves a EUR 1.6 billion full-scale default to the International Monetary Fund this Tuesday."
Furthermore, the Athens Chamber of Commerce added there is no paper to print some 20 million requred ballots!
So a question emerges: if indeed Greece is unable to fund a referendum will it be stuck with mailed-in responses? And how long would it take to tabulate those votes: 3 weeks, 3 months? Needless to say, the cash-based Greek economy, with its €60/day daily allowance of ATM will not survive nearly that long, something the government hopefully realizes as the next wave of anger will promptly turn away from the Troika once the natitonalistic passion has died down and refocuses on the local government itself...
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Cuntagion?
This is called not having a pot to piss in.
Greece is known for the corruption.
Booths go up everywhere. The votes are collected, dumped into the Agean, a few thousand are "counted" for cameras rolling, and wa-la 56% no, fuck you Brussels, we're out!
It's almost like they invented democracy.
Bend-Overendum
No = 1. When in Rome do as the Romanians do
2. Grasping at the last straw on the camel's back.
3. Actions speak louder on a deaf ear
4. Grab the bull by the hornet's nest
Yes = 1. Looking for a needle in an eye stack.
2. Don't put all of your eggs in one basket case.
3. You are never too old to teach an old dog new tricks.
4. There's light at both ends of the candle.
How much would Survey MonkeyTM charge?
This is an excellent time to invest in Greek bonds. If you trust our global leaders to resolve this situation, as I do, then buying Greek bonds now will yield the highest possible returns. In fact, in my opinion you would have to be mad not to buy Greek bonds at these ridiculously high yields!
Great post :)
Can you buy bonds with food stamps, if so, i'm your huckleberry......
So Greece should be finding the eveidence of Goldman, IMF, ECB and Deucthe bank criminal misdealings and then issuing international criminal warrants against the executives and the institutions themselves while simultaneously repudiating the debt and appealing to the Russians to enforce the warrants? In a real world THIS WOULD HAPPEN but in fiat world Greece goes the way of te Dodo.
It is a path littered with suicided investigators and prosecutors.
In ancient Greece, anyone proposing a new law had to do it on a platform with a noose around his neck. If the law passed, the noose was removed, if the law failed to pass, the platform was removed.
Pissimist!
They can always do a reach-around to the Fed and borrow from Ukraine.
A few years ago it was Corexit. Then Grexit.....now Prexit...
I say Fuckit!
There's always Kickstarter!
haha, what a show this is.
of course, as usual, regular folks suffer
How about a kick-arser campaign?
Crowdsourcing to fund Demockracy? At least it's voluntary.
Forget paying $110 million - what about a free SurveyMonkey account?
Maybe a show of hands might be the go?
That was brutal, monkeyboy
They can meet in Syntagma Square and vote with a show of hands.
Or the EU can loan them the funds as along as they guarantee a YES vote.
Well, can't they use the Options Greeks to their advantage to make some money in the US stock market to fund their referendum. Heck, they can probably make enough to pay the IMF, too. Lagarde can then go the tanning salon to look more orangish.
110 million euros? WTF? Use paper slips and get the citizens to count them. My guess it would cost about $2 million.
BTW - I went for a long bike ride this weekend. My forearms look like LaGarde's disgusting face. I need those UV sleves or more sunscreen.
F the IMF!
let them fight it out in SynSquare - the side left standing wins - put it on pay-per-view
Banksters will be moving in the Neo-nazis and ISIS in 5. 4. 3. 2. 1.
Bankers kicking cans down road. Guess what? It works.
temporarily
I'll bet you a donut the other PIIG countries have been experiencing higher tha normal withdrawals for a while.
They're not running to the banks, they're just walking, acting natural. The metrics are there I'm sure but we'll never hear about it.
Wishfull thinking!
"To Poor to Vote" sounds like a song the Dead Kennedys would perform.
as found in America.
The Greeks are community-oriented and resourceful people.
They can conducts a referendum by show of hands if it comes down to that.
Voting in a yidocracy has always been a waste of hard-earned money.
Well, Drughi is ready with ECB ELA-funding so everything is awesome! BTFD!!
I'm sure the average Greek will fully understand all the fine print associated with the proposals.
Just reading those names, I would bet it is not in the Greek's best interest to vote yes.
And, since the Greeks are out of paper, about time someone in power there picked up a microphone and started lobbing some doozies.
"Well, I know this default will hurt the Greek people, but at least it won't be a smoking crater like Douchebank will be once all their derivative bets blow up."
If you are fucked, why not take down some of those smug bastards with you?
pods
Ever been in a bar fight?
Start 1:1 with some asshole making remarks you don't like. Knock a drink out of someone's hand and all hell breaks loose across the bar. Some head for the exits, some pick up chairs.
I'm thinking it will be sorta like that.
Nobody cares about Greece anymore, the markets have spoken. Time to move on... I'm so glad it worked out ok, I was getting worried there for a few years that there might be some negative consequences associated with a Greek default, but looks like everything's cool.
The guys with the spreadsheets must have some awesome formulas for keeping all the banks whole in this kind of event, but I guess that's why they get the big bucks, right?
Ex Enron bean counters were hired as consulting noobs to create a new loophole.
There is a free Google app for that :)
Private Companies can sponsor the Referendum as it's bound to get a huge viewing.
Fuck Merkel & the EU
Why don't they just have a referendum and ask whether or not the Government should sell some gold in order to fund the referendum.
Oh, wait...
I.O.U. and....you and you and you. I mean corporations are owed, of course.
Centralized power is their goal. Independence from ANYTHING is the fear of the controllers.
just hand over your gold greece - that's what they really want - then you can fund your vote - its a worthless relic anyway...
Damn, this show has begun to start soooo many times before,,,,,,,,,, I'm out of popcorn
Someone from the Greek Chamber of Commerce was on Bloomberg saying the same thing. But the government so badly out of cash after, what, three or four days that it can't print ballot papers and fuel vehicles to drive to the polling stations? It's possible ... but it doesn't seem probable, and given who's pushing the idea I'm inclined to suspect BS.
I could pick up the phone and get one-sided black-and-white A5 fliers printed in bulk for less than €0.01 each, which works out at about €100,000 to print one for each Greek adult. Now I don't live in Greece, but then I don't own printing presses or command an army and a police force either. Transportation costs may be a bigger issue, but if the government is so low on fuel that it (using the army, at a pinch) can't truck some fliers to the polling stations later this week then Greece really is in crisis already... What's left? Ballot boxes and folding tables don't have to be bought new. Polling stations are no doubt already well-established in Greece, and the government probably doesn't have to pay rent to use most of them. Poll workers are either volunteers or government employees, and government employees won't be much further behind on their wages by Thursday than they are already. What else is there? Electric light? Bic pens?
Now, maybe voters and even poll workers will have trouble getting to the polling stations because the buses and private cars are short of fuel, that would seem more plausible.
Cannot upvote your post due to the dreaded italics crushing vote script problem.
That is like 25 Euros per ballot?
The €110m estimate? Well, according to WP there are about 11m people in Greece, and 14% are under 15. So that's less than 9.5m voters, not even taking out 15-17-year-olds, non-citizens and so on. So handily over €11 per voter. For that kind of money I'd expect a small glass of cheap wine and some nibbles for each eligible voter. Or maybe a chocolate mint and a steamed hand towel instead. :)
A lot of lame stream media propaganda to otherwise hobble Greek internal politics.
But it should not be lost on anyone that the same set of tools and dynamics exist for Greece as did for Ukraine.
Even the whole Golden Dawn - SNPU similarity exists here.
Look at the needless mess Ukraine is in and how a few well placed chosen interlopers and instigators made it all possible.
That is the best couner play for Russia; "Take our money and let us build a new off-shore banking center with you for our Sino-Rus SWIFT - You want to wind -up like Ukraine?"
The Greek polity should look at the Ukraine playbook to understand their precarious national identity.
The best method for Greek politicians to expel their impotence and stop reacting to ECB/IMF is to expel all NATO forces in Greece and suspend NATO base operations during this period of "national reflection."
That is an equally important fire-break to the whole fear mongering bank holiday story the City of London is salivating about and otherwise get the whole debt-slavery issue out in the open.
Greek needs austerity, but on their own terms - not with more ECB/IMF debt on their backs like Puerto Rico.
It looks as if the EU wants Greece to default. Greece should acquiesce to the EU and default. Then, if the EU wants to start to re-establish control over Greece, it will have to start from the beginning. Otherwise the EU LOSES control and Greece will either be independent or go elsewhere.
It is all about control for the globalist banking empire. Countries and people can either be slaves to them or they can find their own way... and typically be branded "rogue states", by the propagandist puppet media. (We must be reminded that Gaddafi's crime, in the eyes of the banks, was to give Libya the highest standard of living in Africa and to create an African Union that was separate from the BIS and banking empire. This cannot be tolerated.)
Keep in mind how the alignment of friends and enemies of the banking empire change over time. What is Argentina today, a friend or an enemy?
Unfortunately or fortunately the banking empire wants the resource rich countries, such as the DRC, completely impoverished and subservient to it. Greece is not resource rich.
The people will eventually vote with thei pitchforks. This is turning into a real failure of Democracy. Well, sit back and enjoy the show.
Coming to a theatre near you
YOU ARE DEMOCRACY
Yes, but unfortunately the Greek people will be taking out their anger on their fellow countrymen and not on the BIS in Basel or the Nazis (actually they should be called Gazis - for Global Socialists, instead of National Socialists) in Frankfurt.
You need to retake Civic 101. Apparently, you don't understant what Democracy is. The failure in Greece is a failure of decades of anti-business policies, nationalization, and socialism.
110 million Euro?!?
Does it really cost 110 million Euro to ask a country with 11 million people what they want?
That's 10 Euro per capita. :O
This is how retarded socialists work.
But don't you dare say "Throw the (retarded socialist) bums out of the EU!" here on ZH.
That gets you down votes.
Don't be redundant.
don't think minors will vote...
Why not let them use Facebook to vote?
Oh shucks, you can only chose a 'Like'.... darn.
Just push out an update to the ATM software to let them vote there. They're already standing in lines for those machines anyway, right?
Of course, you'd have to trust the banks to tabulate the votes honestly...
Busted!!! While Greece is all over, the US is meddling in Kirgisistan! The secret meeting of US envoy Richard Miles with head of Precedent NGO Nurbek Toktakonov!!
Another Maidan in Kirgisistan?
https://www.youtube.com/watch?feature=player_detailpage&v=c-tzOrwjjj8
They are working the whole perimeter, looking for soft spots. TransDneister, Macedonia, Armenia, are getting agitated. Baltics get weapons. Azerbijan gets snubbed. Ukie Nazis want an offensive by July 3.
Ring ring:
Hey Vlad hows going. Troika tryin to starve us into submittion like you said. Remember plan B from our meeting well...........
Have a good one Vlad.
Diebold has a solution for that, and they even make it look legit! Diebold has been fixing US 'elections' for decades, from hanging chads to resurrecting the dead, Diebold has a 'fix' for pretty much any election need.
You left out where George Soros owns half the machines...
It's a black fly in your chardonnay....
Look mommy, socialism ran out of other people's money.
Have the banks make people withdrawing funds hit a button on the ATM for no or yes on referendum. Simple 10k computer programming solution probably, but then again, the withdrawing of funds looks a lot like a no vote anyhow. lol.
Democracy in Greece connotes a referendum, open debate and the weighing of facts as to who incurred the debt and who owns the debt. Were there corruption, bribery, and coercion of government officials involved in incurring the debt? What liability do the Greek People have for criminal debt? Is the loaner of money as responsible as the borrower of the money to fulfill reasonable completion of the contract? If the loaner of the money knew that the Greek government could never pay back the money; why did they loan them the money? Was criminal bankster entrapment involved to blindside the borrower by deceitful contracts? How much money was lost by bankster bond, securities and mortgage fraud?
If bankster criminal fraud, debt and chaos is behind the Greek financial crisis, arrest them and bring them to trial as criminals to society and if found guilty; hang the criminals and repudiate the debt.
That is what democracy is about: government of, for and by the People.
NO TO TOTALITARIAN fascism: government of, for and by the multinational corporate monopolies.
Hell yea diebold has offered to do it pro bono
That was a funny line Surfin. I got a laugh out of it as the war on crime unfolds between democracy and fascism.
Fascist hates democracy and use the freedoms and rights of individuals in democracy to destroy democracy from within with criminal corruption.
Democracy hates totalitarian criminal fascist that rule with their boot on the neck of their subjects. You are no longer regarded as an individual human, but as a subject to a higher order; specifically a debt slave subject to the fascist corporate state masters.
In a democracy, we make sure there is no Diebold machines to count the votes. Ha. Ha. Ha.
Haven't watched CNBC for 2 years but the format and heavy duty bile is still in place after suffering 5 minutes just now.
When any threat to the Neocon/establishment materialises you wheel out the usual suspects to steady the Sinking Ship.
For EU it's J.C. Trichet ( what a POS )
For the USSofA it's that Welfare ex-GE whore Jack Welch
I watched it for the first time in months this morning before the market opened. Sorlin, Liesman, and Kernan. They were debating among themselves wheither to report some breaking news or not. Just incredible, a news organization debating reporting news before they can put their spin on it? I lasted about five minutes also.
Greece can print Euros. They can always change the prefix 'Y' to any letter. No one will know if it is a Dutch or German or French Euro.
They can be out of this fix in a few weeks.
Even if the union throws them out, that doesn't mean the currency is valueless there.
... and while Greece May Not Even Have The Funds To Conduct A Referendum ...
... Russia and China are quite busy laying out the holy grail of pipeline diplomacy ... >>> http://rt.com/business/270352-russia-china-gas-pipeline/
Greece: From the cradle of western civilization to its casket.
New lows here DJIA minus 191: anyone got the news?
Futures: http://www.investing.com/indices/us-30-futures-advanced-chart
Look at all the fear mongering, by Renzi and others, and especially that colossal asshole Junker. They've lost their cool. Now they gonna lose alot more.
Go ahead push the fucking button.
It is really something to see how the elite act when a real threat to their hedgemony rears its head. If they can not control the upstarts with outright barbarism, they will try to scare them to death (e.g. claiming the world will fall apart if TARP is not approved or if Scotland votes to leave the U.K. or if Greece votes no etc.). This world really needs to see the elite put in their place. I hope to live long enough to see the GAO perform a thorough audit of the FED as per Rand Paul's proposal... and I hope every Fed Board member screams bloody murder as it happens.
FUBAR.
"it's bad you know" ~ R.L. Burnside
https://www.youtube.com/watch?v=QzC_rGX-XyM#t=77
Tell the bankers and the EU to fuck off...When you hit rock bottom, the only way is UP; ask Iceland about that....
Let's dance...
https://www.youtube.com/watch?v=UhDgpXWkFHE
That's great...townhall is burning down with all the folks gathered inside trying to figure out what to do next...my guess is that the fire started in the kitchen as a greece fire...
Eventually, this chaos attempt will circumvent itself back to the fucking idiots who voted for fast track and TPP.
Do you feel your asshole puckering? The entire plan is going to blow up in your face. How does it feel to caught commiting a crime?
Didn't think you'd be noticed? It will be told globally. Names, emails, home addresses, and phone numbers.
If you don't respect to law, let the slaves hunt you down. ;)
Maybe the Greecs should call Fidel Castro,. He knows how to run a socialistic / communist country very well....Sirytza have their offices already full of posters of Che Guevara. And Cuba has two currencies as well... So: revolution!
I'm kind of hopeful now that Greek voters vote to stay in the EU, though not because I think its necessarily the smart thing to do, but because I'm of the opinion our lame duck President would think nothing of devising his own 11th hour salavation for Greece using US taxpayer dollars. Its not like he has to run it before the congress for their acceptance. Obama is convinced the West would be losing Greece to Russia. Personally, I don't care. Russia won't see any more return on such a gamble than they did with Cuba, which they gave up on.