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The First Post-Referendum Head Rolls: "Toxic" "Martyr" Yanis Varoufakis Resigns
The Greek referendum landslide "No" vote came and went and just hours after its passage claimed its first head, which was - perhaps somewhat surprisingly - that of the Greek finance minister himself, Yanis Varoufakis, who many say orchestrated the referendum seen as a loud endorsement of the government's actions. As of this morning he is no more. Here is why in his own words.
The referendum of 5th July will stay in history as a unique moment when a small European nation rose up against debt-bondage.
Like all struggles for democratic rights, so too this historic rejection of the Eurogroup’s 25th June ultimatum comes with a large price tag attached. It is, therefore, essential that the great capital bestowed upon our government by the splendid NO vote be invested immediately into a YES to a proper resolution – to an agreement that involves debt restructuring, less austerity, redistribution in favour of the needy, and real reforms.
Soon after the announcement of the referendum results, I was made aware of a certain preference by some Eurogroup participants, and assorted ‘partners’, for my… ‘absence’ from its meetings; an idea that the Prime Minister judged to be potentially helpful to him in reaching an agreement. For this reason I am leaving the Ministry of Finance today.
I consider it my duty to help Alexis Tsipras exploit, as he sees fit, the capital that the Greek people granted us through yesterday’s referendum.
And I shall wear the creditors’ loathing with pride.
We of the Left know how to act collectively with no care for the privileges of office. I shall support fully Prime Minister Tsipras, the new Minister of Finance, and our government.
The superhuman effort to honour the brave people of Greece, and the famous OXI (NO) that they granted to democrats the world over, is just beginning.
Varoufakis' resignation which came early in the morning Greek time, may be seen by many as the crowning cap of his path to political martyrdom, but more importantly is seen by others as a catalyst to what may be a long overdue deal. As Standard Bank's Demetrios Efstathious says in an email to Bloomberg, "without Varoufakis, who’d become toxic and had to go, negotiations will prove somewhat easier" adding that "the slim hope of a last minute deal is indeed alive. "Varoufakis’s replacement increases chance of sensible negotiation, and positive outcome. If Tsakalotos or Dragasakis were to replace him would be positive news. Tsakalotos has been a key part of the negotiating team and is one of the most sensible/moderate figures in Syriza."
That view was dashed by German SPD lawmaker Carsten Schneider who said on German ZDF public television that the resignation won’t make talks between Greece and its creditors any easier. Varoufakis is "building his own legend" adding that Varoufakis’s promises aren’t backed up by any money. “He’s been promising more than he could keep and now he’s drawing the conclusions by making an escape."
Scrum of reporters outside Greece FinMin. For months they hung on Varoufakis' every word. Now wait for his successor pic.twitter.com/YSlLwtf9s8
— Henry Foy (@HenryJFoy) July 6, 2015
So "martyr" or "toxic legend builder", the historians will yet decide on Varoufakis' legacy but the main question is: now that Greece took this decisive step, will anyone at the Troika or Eurogroup follow in V-Fak's footsteps?
For now, however, the futures which were down as much as 33 points at the open have cut their losses by a third on yet another bout of hopes that even with Greece beyond the precipice, Varoufakis' exit stage left may be just the deus ex machina endgame catalyst this Greek tragicomedy has been waiting for all along.
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"Varoufakis’s replacement increases chance of sensible negotiation, and positive outcome."
Ah, but "positive" for whom?
Zh, whatever comes out of the mouths of those worse-than-useless German "socialdemocratic" scumbags is totally irrelevant. They hate the Syriza govt and public involvement via referendum more than anything else. While they call themselves "social decmocrats" they are really all just whores of the banksters and their lobbyists. They have always been, except for the first 30 years of their existence in the 19th century. I know these mofos in and out, quite a number of them from personal experience. These bastards are already irreversibly on their way to complete irrelevance. nevermind, they were the largest political party in germany just 20 years ago with more than a million mebers. that is now down to - what, 400k?
Varoufakis is an embodiment of democracy and rationality.
Spock clone.
Greek hero.
Varoufakis' Bloomberg interview was spectacularly effective.
Edward Snowdon like.
"And I shall wear the creditors’ loathing with pride."
Big man-hug to Yanis. Way to go, dude!
Varoufuckus resigns?
re emerges tomorrow wearing a Nazi uniform?
Never a dull moment from Greece.
nar, the dude just knows he's the best target for a repeat performance of the Archduke Frederick Ferdinand playbook
smart motherfukkr
Varoufakis has been the darling of US institutional media for 1.5 years now, way before he became minister. That tells you everything you need to know about him. Otherwise, check out his book "The Global Minotaur" where he advocates a one-world currency system, or refer to my previous comments on the personum.
que up goldman sachs consultant...
His resume is not good.
Meet Yanis Varoufakis.
He is the City-of-London-embedded black cloud over the new Greek government. Varoufakis. Pseudo-socialist wolf in Syriza clothing. He is the most crucial sorosite in the incoming Green government. Nothing will change in Greece except the political window dressing rhetorical change in Greece as long as this man controls their finances.
Varoufakis is another diaspora baby like the elabotate CIA/NATO construct named Kolinda Grabar-Kitarovic who was just installed as new president in Croatia.
Varoufakis is an Australian citizen. His entire education ran along the London Keynesian economic track - Varoufakis worked on special projects with Kenneth Galbraith economics (father of Peter Galbraith, Kenneth Galbraith was one of Rothschilds' chief economics gurus along with Keynes himself).
His education - University of Essex, U of East Anglia, Cambridge - he was a teacher at LBJ School in Texas....
Varoufakis was the adviser to Papandreou when Papandreou made a deal with the EU on behalf of Greece.
Here is Mr. Varoufakis praising Mario Draghi and the ECB and suggesting solutions for how to keep Greece in the EU....
Here is one of many examples of Mr. Varoufakis' Israel worship:
Here is a Greek text I found and set on Google Translate - Mr. Varoufakis runs after Soros funding and praises Karl Popper in the process. Popper is the London School of Economics zionist who was mentor to a young Soros who helped create the global Soros octopus umbrella organization named Open Society Foundations.
Varoufakis also works for Valve Corporation - that is a Seattle-based gaming offshoot which otherwise ties directly into the Seattle giant Bill Gates Microsoft corporation. Its founder Gabe Newell is a zionist corporatist connected directly to Google spy chief Eric Schmidt. Newell together with Mike Harrington (one of Bill Gates' top men in Microsoft Seattle) started this Valve Corporation for which Greece's new finance minister still works.
Valve Corporation has HQ in Kirkland, WA which is the corporate 'burb compound of Bill Gates and Microsoft in Seattle Microsoft HQ.
I never had any illusions that the new leftists in Greece are real. Under the best of circumstances, we will get sorosites. But even this flavor of Soros-CIA-Lite-pseudo-socialism under cautious leftist cover is all we have left anywhere in the world.
Some of the new politicians in Greece are undoubtedly even real but will not prevail in the dominant amalgam of stealthy sorosites and other zionist sodomites who run the entire Left world-wide.... but unfortunately, Varoufakis is a pivotal figure.http://www.waynemadsenreport.com/forum/21/206
Varoufakis was a joke as 'Finance Minister' (of propaganda), and the vast amounts of attention the MSM gave him were an even bigger joke.
He is such a pathetic joke now that he feels the need to resign after the 'NO' vote, when in fact the 'No' vote is clearly an endorsement by the fucking PEOPLE of Greece for these fucking Syriza bastards to actually do what they have been talking about: repudiate the odious debt and move forward, except bankster puppets absolutely CANNOT and WILL NOT do that, they can only dissemble and obfuscate as they continue to plunder under the guise of chaos and 'limited choices'.
Fuck Varoufakis. I doubt anyone in Greece regrets seeing that fake fuck go fuck himself somewhere else for Goldman et al.
He's going to Disneyland!
LOL
Let's not forget that with a fractional reserve system, when you default on a loan, the bank does not actually lose anything but the future interest they would have made on it. The principle itself was conjured out of thin air and gets written off by the bank when you default.
Good for him for poking the Eurocrats in the eye like that, but unless you all just joined the Bernie sanders camp, you may want to remember the Keynesian and socialist policies this guy advocates. He is about as far from a libertarian or Austrian as you can get and is no friend of freedom.
Also, try to remember that all this 'anti-austerity' nonsense is just another way of saying pro deficit spending, pro debt, pro massive govt, and pro increased taxes on everything. You all should exercise more caution with who you lionize like this.
There, downvote away....
Not me, Carl.
I suppose that all those disillusioned with Obama have swarmed to be fan boys of the Syriza bunch. Otherwise rational and intelligent people are suckers for this cult of celebrity.I am kind of embarrassed for some of these ZHers.
I agree with you. Grifters and shysters that they are, they may have accidentally served a useful purpose.
You are absolutely right, but the implications are far more than lost interest. Debt money must always increase to support the interest payments on outstanding debt for the system to function. When a loan defaults and is wiped from the books it goes back into the nothing where it came from, increasing the necessary amount of money that must be borrowed to plug the hole. If that doesn't happen (lol, thank you borrower of last resort Gov't!) then we end up in a deflationary death spiral and velocity of money stops dead in its tracks. One sufficiently large "pop" is all it takes, and these motherfuckers have consolidated bad debt masterfully into several immensely large holy shit we can't let this default EVER bundles.
Not absolutely right. The income stream gets"securitized" and sold on to somebody else.
That's the "Fictional Reserve System". Fixdit Forya!
Back to his villa overlooking the Acropolis. Stay away from nailguns...
Back to Mount Olympus for some serious toga partying.
I was thinking Clint Eastwood riding off into the sunset but that'll work too.
Varoufakis is an embodiment of crony-capitalism (see father-in-law), neo-keynsianism (read his papers) and arrogance (well, the pictures...). Democracy and rationality are only a cover-up. But he's fucking sexy and appeals to all MILFs, GILFs and those on the "other side" too.
+1
You've got it. Sometimes it appears that being opposed to EurokRATS means being in the side of neo-socialists like VaruKAKIS.
Best luck to you Greek People.
Stay away from the EurokRATS AND populist herds. Both of them.
Renew your institutions in the way of true representation and separation of powers (it is crucial in ALL southern Europe countries)
Say fuck you to ALL banksters (State owned FIAT money makers).
Grow your own economy with your own hands and capital (capital value is in the creativity and determination of the ones who posses it, not in the number that appears in bloomberg's charts).
Power to the people.
Sincerely best wishes and true solidarity for all Greeks.
F i g h t f o r y o u r r i g h t s
Well, ZeroHedgers,
It is the morning after, and you just got ravished by a gang of slick Greek used car salesmen. Didn't even kiss you on the way out.
Kind of like when you found out Santa Claus was your parents. Only this entails a loss of virtue and pride along with the disillusionment. Do you recall if they used protection or not?
What a bunch of suckers.
Some of you are still in denial. ""You've got it wrong, they really care. They will call."
Yeah, right.
You missed the point entirely.
Nobody at ZH; well, nobody intelligent anyway, ever expected the Greeks to do what's necessary to fix their ailing country (especially with Syriza at the helm).
This has always been about standing up to the EU banksters and bureaucrats and telling them to shove their debt Ponzi where the sun don't shine.
Now that the Greek citizens have taken that first monumental step, I applaud them and wish them well. However, Any thinking person must have grave doubts that things will work out given the party in charge...
Actually, I do get that. Always did.
I am all for grief to the banksters.
Syriza accidentally did a good thing for the wrong reasons. They served a purpose.
Reading the comments, I see people lionizing Syriza.
A lot more than you think, believe Syriza was going to fix things.
Unfortunately, the Greeks haven't really taken any step all. Syriza merely gained bargaining power and will betray those who believed in them.
I regret that you will still have to face your disillusionment with the Greek Free Shit Army. They do not wish to pull themselves up by their bootstraps. They want free shit.
If their odious debt was forgiven in its entirety, it wouldn't be enough for them because they want to spend other people's money.
Your bitterness will only be greater the longer you are in denial.
You are absolutley correct about the FSA; that's the reason we will never have non-violent reform here in the USA.
But, the first step in acknowledging you are an addict is telling the drug pusher to go to hell.
Now, let's see if Greece simply goes in search of a new drug dealer...
Actually, when I learned Santa Claus was my parents, I began plotting ways to twist their arms for more freebies at the end of the year.
So it will be with the bankers and Greece.
Never enough pain could be inflicted on the banksters. I hope Greece gets all debt forgiven!
I could respect the Greeks far more if they wished to stand on their own 2 feet and go their own way. An independent Greece with their own currency.
Greece does not want to be independent. They want a Euro to leech off of.
I have to get to work.
I will be an I Told You So at a later time.
Good to hear from you! I read your comments regularly and enjoy them.
Snicker snicker to all you trolls who create an account and post once every three years a bunch of pro gov big brother drivel. Tell me, did you have to email for your password because you forgot it?
No bigger proponent of gov or big brother than VF and his Syriza gang.
As bad as the Eurocrats are, they are libertarian compared to what Syriza would have.
They don't want out. They want to stay in without paying.
It was a media crafted image like that of Obama.
See here the hero worship fully implanted.
That is one of the things going on today, searching for messiah in all the wrong places.
Neptune home in Pisces.
If Varoufakis is rational that would truly make him one of a kind, the only rational Marxist to have ever lived.
Hilarious to see believers in totalitarian governments touted as heroes by zh'ers.
Do you have any idea what this guy stands for? If he had his way you'd have a giant welfare state which continually printed and devalued its currency while begging for handouts from foreignors, just like Venezuela and Argentina.
A true zh hero!
perma, you mistake hate for banksters with love for yanis..I for one like anyone showing the debt game for what it is: make your bankster rich.
Banksters and technocrats hate him.
That is plenty.
ah so kind of like US foreign policy doctrine, which is based on the idea that the enemy of your enemy is your friend, even if the reality is your 'friend' stands for everything you despise.
Guess that means Islamic extremists are zh heroes too, 'cause they sure as hell hate the 'banksters'.
I get it. Long live the Saudis! Putin rules! Up with anyone who despises capitalism!
Islamic extremists ever attack a bankster?? if they did they would get alot more support. one does not attack those who butter your bread.
Right, because 9 11 doesn't count, as it was actually the Bilderbergers attacking themselves, of course, how could I not see that.
perma, you make a good point about 911, however was that a one off? did it not enable HSA and TSA and NSA expansion?? I do not know who was behind 911..(seems like saudi to me but we will never know much like JFK in dallas)..since however only soft targets are hit..one incident over last 10 yrs does not explain the lack of any new action..we are all mushrooms and elite like it that way.
jfk was " triangled" , fatal shot came from the gutter . It is not there anymore but i have a pic of it my father took back in the days...
I will let others answer you on 9/11.
Well, it is certainly odd that Marsh & Mclennan sustained direct hits to both their datacenters on totally different floors, and jeez only singular copies of plenty of evidence that was lost in 7 & P.
do you have any idea who was implicated by things like the SEC's enron investigations?
yeah, they pass your laws and give orders.
If Hitler had resigned after telling Germany's creditors to fuck off, he'd still be remembered as a hero.
The best way to cement your heroic credentials in politics is to step down. That is a large part of the legend of George Washington.
Exactly... Just like Richard Nixon
I sincerely doubt it. Maybe a hero of ideals, but coward of action.
I stated it long ago on this site and many times since, and it applies to all nations who desire to be sovereign, wake me up when you protest and fight only for the right to earn a living with the labor of your own hands. The greeks have consistently rioted and burned buildings under the demand to keep existing benefits or for additional benefits. Again, to the greeks and the entire world, there is no free lunch.
For every dollar you receive in a benefit, someone else likely loses in a detriment. Sometimes the pie stops to expand and, even worse, contracts. Unfortunately, you might have even contributed a portion of your own benefits yourself. However, the promises were always too good to be true, they were always unsustainable. Deep down, I sincerely doubt that we did not realize this all along. Nonetheless, giving the benefit of the doubt, the raiding of the public treasury was done not only with approval, but adoration. By failing to be sufficiently skeptical and politically vigilant, the promises of liars and thieves have been exchanged for both law and morality.
When you fail to accept the real problem and the necessary pain that comes with correcting it, then you are destined to meet a new boss who strangely resembles the last. Someone will always be there to give you enough rope to hang yourself. Please have enough skepticism to recognize the rope salesmen. Further, please do not have enough hubris to think that you can beat him at his own game. This last one is especially relevant for the greeks.
The beauty is that regardless of the level of denial and supreme determination to avoid correction, the matter will eventually correct itself.
Permabug,
Good on you for not falling for this load of horseshit.
Are we so short of heroes that we have to make heroes out of scam artists?
These Syriza characters would be good at confidence games or Ponzi schemes. Government gigs have less risk.
It's difficult for Americans to develop a coherent understanding of the German political scene, since details of the system are almost always embedded within stories focused upon specific events involving many parties and other systems, internal and external. I just read an article at huffpo (!) that seemed to describe things in more comprehensible terms and argued much of what you're saying here, fx.
Is this an accurate representation of the German political situation, in your opinion?
http://www.huffingtonpost.com/robert-kuttner/just-say-no_4_b_7732522.html
Almost everything in that article is dumbed-down and cherry-picked black and white painting.
First there never was a coherent European social democracy, in more than in name.
The German SPD (social democrats) have basically shot themselves in both feet when undermining the strategies of its last chancellor Schroeder, once again just as they did in and up to 1982 with their chancellor Schmidt at the time. The survey numbers for the SPD are dismal, and have been for many years. To try to avoid being completely relegated to the dustheap of history, the SPD has reverted to an "use any way to partake in the government", and therefore play the junior partner to Merkel's CDU like a poodle. Anything Sigmar Gabriel says is huffing and puffing.
Positive for Greek sentiment. It's quite brilliant if you think about it, VF is very popular and the Greek population will now be even more disgusted with the way the Eurocrats are putting pressure to give VF the boot.
The lenders will ultimately have to paper over it, nothing has changed, Greece cannot pay and the banksters should be jailed, meaning we ZHers have not changed our opinions, at least most of us.
The EU is doomed, the first escapee of any Ponzi will fare the best. Free Shit Greece doesn't want out, so there they are. Never get in a situation in life that cannot be reversed, and it appears that the lenders' zeal for NWOism and orgasmic exuberance caused them to skip that step in the formation of the doomed concept from the beginning. Crawfishing now will be difficult, but doable through bribery. Unproscecutable bribery, banksters are bulletproof, fascism at its zenith is the most likely out.
An old Southern saying has stuck in my mind from the beginning and it is "wouldn't you rather I owe it to you than fuck you out of it?" Greece should adopt the code of every construction hand, "the only thing I need is a cow, then I have something to eat, something to fuck, and something to ride to the next job on". That pretty much covers the necessities of Mazlow's first rung, plus warm clothing.
LMAO
Perhaps not the code of every construction hand!
How about a big fat mama on the back of the cow so you don't have to do the cow?
This Syriza farce is not a total loss. If that clown show has managed to throw a spanner in the works, good for them.
hes a goner
And we are well "off the lows" SMFH
=>"martyr"
=>"toxic legend builder"
If I were on the Greek negotiating team, I would take the IMF Report with me and beat them over the head with it until they yeilded. Take these terms or risk having the Greek government declare all these debts illegal and odious.
You got junked by Merkel's crotchhunde...
Great idea and not just some modest proposal.
Game theory? What move is this? "I quit and now you give us the money?" WTF?
Yeah really. This guy didn't have enough high-fiving as a teenager, now seeks bro-recognition in his middle-age.
he is so hip and with it, even has a profile on Gravatar
An odd decision indeed for Yanis to go after such a successful vote in favour of the "Victoria Nuland "one finger salute" to the EU
I wonder what he's up to?
If he lost he was going to cut off his arm, but he won so he is going to cut off his d***?
He's not going to cut off his arm; he was exagerating. He's only going to eat his hat.
he is out for a reason..dark reason: so banksters insert technocrat and the game of debt goes on.
light reason: others more antibankster anti odious debt get to clean the plate
obvious reason: hell is coming to breakfast and he will be out of the country let others take the blame.
https://www.youtube.com/watch?v=ZX56rbqZhto
IMO:
Dark reason: And incredible and irrational anger on the creditors part to being rebelled against. As they are emotionally invested and believe in their tyranny. This is from hidden power planners not Merket et al. I have seen this unmistakable anger before.
Light reason: China has made the negative players heel by their fear of a stock crash, offering to shore up the EU in exchange for strategic concessions to make geo political change more palatable for the non political citizen, excuses are now being made for Greece to go back to EU in a way regular folks understand.
I suspect light reason. They are not mutually exclusive.
But I have been wrong before
My god...they are going to strike a deal with the ECB, even after the people voted no. The negotiations are over...long over, but to hear the finance minister he is hopeful of a deal.. What is wrong with these Greeks? They still want to deal with their debt masters.
THey deserve to be thrown out of office.
The public voted for no deal. They are dealing with VIPERS.
Perhaps that is the reason he left.
Listen guys, YOU GOT IT ALL WRONG!!!! We voted "NO" to the creditors, NOT to the Euro. All polls from last week apart from the question about the vote itself had the obligatory/complementary question about the Euro. The overwhelming majority was FOR the Euro (70%-80%). The only part of the electorate that voted NO and simultaneously implying that they want out of the Euro was the Communists and the Nazis.
So forget what the European/world leaders say about the referendum being a Yes/No to Europe and the Euro. We'll explain to them soon. If you're waiting for GRExit, take a break, take the dog out, do something creative for yourself. It's not happening any time soon.
You fucking pin heads plan on going back to the negotiating table "hat in hand". WTF!
All this was BS, just away for the Greek leaders to get some negotiating leverage!?
You fuckers are going nowhere. You Greeks suck. Eat a bag of shit!
I was for you, but now to hear you....Fuck Off and die!
Sir, I suggest you go thorugh the hardship that the greek have been going thorugh and are living through right now. Walk in their shoes for a month at least before resorting to name calling - just because they do not want to put up THAT fight that YOU like to see and watch while YOU have ZERO skin in this fight!
So, you were "for them". How generous! A commitment of sorts! And is it to their or to your cause?!
By the way, did I already mention that bag of fresh shit that is waiting for you right here right now?
I take the last sentence as capitulation. Now, will you give us the money, AND the debt cut? Pls? Or do you want us to drag this for another year or so?
Unfortunately you are too stupid to realize that the only thing you are dragging on in perpetuity with your insistence in keeping the euro at all cost is your own misery.
He has his opinions and may be closer to the situation than we. Moar fiat and they won't get Piraeus, Corfu, nor the Acropolis for their worthless paper. That's a victory if it turns out that way.
BTW, the elites' controlled pollsters have been outed, too bad we FSA are dumbass sheep and suck along as they dictate.
This is the bit that is utterly bizzare to me.
You are sitting in a Euro system, one where capital that exits your country (imports) is recycled back around and re-enters the Eurozone to be German/Belgian/Dutch exports, maybe in 50 years time the situation will change and it will work to your advantage, but someone always has to lose with that deal.
You are saddled with a large un-payable debt too, so no one is going to invest in your country when they can get a better return elsewhere, the solution is to return to the Drachma and let the market economy balance the books. But instead you are going back to the negociating table holding no leverage over an institution that literally controls the flow of money into your country?
Either you are a nation or not, if you are a nation you need to regain control over your money, otherwise you might as well just sign up for whatever others decide for you.
there was a time when proud nations, the Great Powers of this planet, all thought that any national currency was best when backed by gold
so de facto they said that gold was money, and gold is many things, but it's not a national (fiat) currency, it's the ultimative non-national money
as a reminder, sovereign troubles with debt were even harder, when payments were supposed to be in gold, if creditors asked for it
plenty of gunships were sent to foreign shores to collect. just saying, just commenting on "if you are a nation you need to regain control over your money..."
point is: what about the population? are they being unpatriotic by holding their EUR tight?
so either Varoufakis is resigning because his game theories tell him it's the very best moment for Varoufakis to quit and enter legendary status in both politics and book-selling or...
Tsipras is serving his head on a silver platter to appease the other eurozone financial ministers. or both, of course
but I'm sure we'll hear in future a lot from Varoufakis, particularly through interviews with Ambrose Evans-Pritchard of the Telegraph, the premier critic of the EUR after Krugman
one thing this crisis really show well is who believes in debt-fuelled "keynesian stimulus" and who does not
I was openly saying to everyone over here since March, that Varoufakis will be the first to jump ship, just before the really tough part of the negotiations. The ultimate gamesman: Quit while you're winning.
But I don't get your last sentence, Ghordius. How do you mean it?
"Tough Part of the Negotiations" WTF!!! You want your pay day, on your terms. This was just a 'No" for Austerity! You Greeks suck. You all planned to grab your ankles all along, but only when you were good and ready.
Well here is to hoping you get it , hard and dry!
I remember, and agreed. Varoufakis is a diva, and divas have a thing about the cult of themselves. I agreed with you that his best outcome is to reach the "failed revolutionary" status, like Che Guevara
at the end, the real ideological fight is about debt and stimulus
specifically, if a debt-fuelled stimulus is sometimes, most of the times or always the solution. the three degrees of Keynesian thinking
You are full of shit.
All you continue to put on display here is your massive ignorance of what exactly took place in Greece.
What makes it hilarious is that you present your ignorance and flawed views as.......wisdom.
Probably got a better offer G, he knows the Govt is nearing the use-by date and realizes quitting on top and going for the door is good left-wing politics, live to fight another day. Unfortunately he'll probably end up in an Australian university and try entering an Australian Parliament so he can run through his left wing agendas therein. The Labor Party would make him the Shadow Minister for Finance or Shadow Treasurer, for sure. And he'd fit right in, he and Wayne Swan could compare notes on budget strategies and left wing 'economics.'
Spot on...lol.
"Probably got a better offer G, he knows the Govt is nearing the use-by date and realizes quitting on top and going for the door is good left-wing politics, live to fight another day. Unfortunately he'll probably end up in an Australian university and try entering an Australian Parliament so he can run through his left wing agendas therein."
The leftwing fucktards only want "negotiating leverage" for moar helicopter drops of EU cash, nothing has changed.
"You made a very brave choice.
“The mandate you gave me is not the mandate of a rupture with Europe, but a mandate to strengthen our negotiating position to seek a viable solution."- Alexis Tsipras
http://www.theguardian.com/business/live/2015/jul/05/greeces-eurozone-future-in-the-balance-as-referendum-gets-under-way--eu-euro-bailout-live
That's it nwewn, it's what you can lever out, and not the fact that you're stealing real resources, via credit you have no intent of paying for, and that someone else has to pay for, or suffer for, or get stiffed on.
It's how the superior, conscientious, can-do-no-wrong ones, operate. ;-)
Look at the revolving door here.... Holder is 77mm richer as well as past advisors/czars.
You gave us leverage to dig ourselves deeper intodebt, into a deeper grave...
Redistributionists will remain so until they are absolutely sure there is nothing left to redistribute. He seeks a resolution that pretends that the defaulted debt is not debt but economic justice, state redistribution, not just from rich to poor individuals but rich to poor states. Redistributionists will NEVER ask WHY they are poor, but simply demand parity.
The something for nothing ideology is viral in all of its forms. Greece knows full well the power of democracy when it comes to demanding their rights superceding others.
yanis looks like the guy who runs out on you when the shooting starts- he got his vote he got his victory, now he got the tiger by the tail, and oops he got not one clue what to do with it, so good bye. (hope I am wrong he is a good looking young man and well he can't be that shallow can he?)
At least he'll have a rippin' yarn book to write now, and it will be showered with garlands, as bestowed left-wing doctrine.
There is always a danger in seeking justice in that it may ultimately be focused on those seeking it.
What ever DID happen to all those Lenin and Stalin statues??
I'm sure the collectivist history book writers will get everything worked out.
"one thing this crisis really show well is who believes in debt-fuelled "keynesian stimulus" and who does not"
^This.
Governments only followed half of Keynes' theory. They have forgotten the part about running budget surpluses during the top portion of the cycle.
done his job, completed his tasks, finished with his part of the play, delivered his lines with panache - no post mortem required - actor / co-director extraordinaire
spin the money and thought speak til it's clean, yea, same thing stuck out. fuckers still plan an ass rapeing of greece, they can't take their losses and zip it up...
i declare open season on banksters, just like coyotes, no license, unlimited bag...
well, there is clearly something not right, he wanted the NO vote, he got it. He might have feared for his life. Cabal wont stop at anything.
Now the Greeks have made their democratic will known, it will be necessary for them to exit the Euro and return to their own currency. The EU and its "god" the Euro are falling apart. The UK, Austria and France have strong and growing anti EU parties. The Greeks should reclaim their own borders and ability to control their own country. Follow the Icelandic model now. Yanis Varoufakis has departed. Greece will judge his role historically and when all facts are available.
"it will be necessary for them to exit the Euro and return to their own currency"
problem is, the referendum was not about an exit from the EUR, was it?
in fact even the Tsipras government and the parliamentar majority supporting it are confirming very often that they do not want to exit neither eurozone nor EU
I want my cake and to eat it too.
Click... Selected.
Eurocrats have already said greferendum was about euro or grexit. Sultz said it and many other officers.
For the greek gov the greferendum might be a part of this blame game. "Oh it was not us we exited, but the EU that kicked us out".
"Eurocrats have already said greferendum was about euro or grexit. Schultz said it and many other officers "
yes, and that's part of the problem. too many in the "markets" have the idea that elected EU MEPs like him have actually a say on those things
too many don't even realize that it's the other club, too many don't even know the difference between the EU and the eurozone, between 28 and 19 members
Merkel and every single one of her cronies kept telling the world that this referendum was REALLY about whether Greeks wanted to keep the euro or not. A message told forcefully and repeatedly the entire week leading up to the referendum.
Changed your mind?
if you stopped trolling for a moment, you would just perhaps realize that I wrote, in other words, that I see all that as disingenuos and false propaganda
but you are too busy fixing my avatar and thinking in oversimplified manners, aren't you?
hmmmm, so I see your point is something like "europe is a mess, and people in the markets have no idea what a mess we are".
lol. if you think so... I would not call our political systems "a mess". but in my experience, they are utterly alien for many market participants
starting with "ministers" instead of "czars", "prime ministers" instead of presidents, and going further on confederational models instead of federational models
but it's not my fault that a lot of traders and market participants could not even explain what parliamentarism is, for example, or think that "the EU is something like the US"
I repeat: the EU Parliament has actually nothing to say officially about the Greek Debt, has no competence in this matter whatsoever, as much as a US state governor has nothing to say about federal US debt
Much better for EU if Greece is "kicked out" than "leaves"
NO, NO, NO. YOU GOT IT ALL WRONG!!!! Please see my comment above. We did NOT vote to leave the Euro. This misunderstanding is only the propaganda that Brussels has been spitting out all week.
Of course not. Greece has nothing left to redisrtribute. EU is the big tit in the sky that simply will give and give as long as you don't use your teeth. The leaders of the EU and its member states will give or promise ANYTHING as long as it keeps them in power, no matter how much is rots and destroys the actual people they claim to serve.
Sorry.. that's not how it is played. You want the euro and nice fat write-off? The price is steep. You don't get the benefit of the euro and debt relief. Its one or the other. That way the next bunch of sad sacks of pity will be to scared to ask.
Thanks for playing... Enjoy the new drachma.
I doubt it.
This has ultimately never been about money or even redistribution. It has always been about power....centralized power, and as such the EU will remain intact. The Greeks are simply being a bit preemptive greedy and are being made an example of. The EU MUST remain intact and given their politics and economic models are completely based on a socialist, collectivist, redistributionist theme, there is no way they can do anything but go broke. This is about keeping the union together through dependency. The Greeks do not want out, they want more of what has already been provided. The leaders of the EU are implementing the same program as America by attempting to create economic destruction that feeds a dependency on the state. A dependency that will empower and motivate a democratic voting "majority" who will effectively become their army to impose irreversible policies that may never be turned back.
Visualize a boot on the neck of society...forever.
Thanks for recycling the Brussels propaganda. We can never get enough of it!!!
BUT skistroni, with 60+% of the vote, the greek government will NOT call another referendum IF it judges that the negotiation failed to meet the Hellenic bottom line and that the interests of the Hellenes will be served better outside the eurozone
I've got news for you patrioti. THEY WON'T go down that road. Outside of the Eurozone they cannot feed the army of voters that demand MOAR. And they know it. They want to remain in power just like every other "elected" (god, this word these days almost means "sanctified") leader, and they will do everything to achieve that.
If you start contemplating politics with the assumption that politicians consider as a primary thing what's best for their country, you will live a life of confusion and contradiction. You'll be lucky to not get bipolar disorder these days.
If you start contemplating politics with the assumption that politicians consider seat preservation as their utmost priority, suddenly you can explain everything. Try it, honestly, it works.
From what I have observed he has honesty, integrity and a disregard for greedy banking Eurocrats. He understands the maths and that the debt is unpayable. He looks like he could break your legs but uses his brain and tounge instead to fight with. He was calling this whole situation out as the sham that it is, and could easily strip away false arguments to the contrary.
Clearly he had to go.
He was calling this whole situation out as the sham that it is, and could easily strip away false arguments to the contrary....
And was proposing as a solution more debt (albeit SmartDebt (TM)) so that we can borrow more and spend as much as we used to ad infinitum. There was no chance in hell that Europe would approve it at this point in time.
Read his papers and you will understand.
Read his papers??!! hahahahaha I'm afraid you grossly misunderstand the average zh commenter read his papers hahahaha
What's with the laughter. please share the joke.
The fact that I have to explain it to you kind of proves my point.
The average zh commenter these days appears to be about as well read as a soccer hooligan, and with the same mentality.
'Death to the banksters! No more bailouts! Bailout Greece! oh wait a second...um no better change that uhhhmmm Death to banksters!'
It's mind boggling the amount of hypocrisy and irrationality
although I must say the extremely surprising number of upvotes I get despite my sarcasm and general disdain leads me to think there are a hell of a lot of old guard zh'ers who remain rational throughout the madness
Oh wait a second, you were being sarcastic! haha good one you had me fooled for a minute there
Kind of like George Washington going down to the banks of he Delaware and not getting in the boat: "See ya guys, ciao, good luck!"
https://www.youtube.com/watch?v=lyNMZxyVVpA&feature=youtu.be
Ha ha HA!!! So much for that referendum farce. Now watch how your eur/usd shorts get stopped as EU and Greece reach another shitty "deal". Like I said before nothing will change and indeed did not.
Varoufakis is a total legend, gigantic balls to face of against all of them who tried everything to make Greece comply to their will.
His predecessors? Sold Greece down the drain over and over, allowed them to be kidnapped into the euro.
I wonder what any other team would have achieved against the Troika? If anybody could have gotten better.
YV is smart, he didn't say he's resigning from politics!
Just putting away the big guns until he's needed.
Legends build faster in absence.
Greeks have never lacked audacity.
Next head: Dijsselbloem
F*ck this guy.
It is not the first time a person, who made something big to happen, steps gracefully aside to facilitate a deal from his actions to make make it possible..
Both sides of the table are out of money - the question is 'who has more credibility'
Evidently "credibility" is a relative term.
Lemme guess. Some ex-GS guy is on deck?
At this point, Greek finance minister, is kind of an oxymoron anyway, isn't it?
A bigger job awaits. Consultant for Spain ans Portugal negotiations I'm guessing.
Gonna need more popcorn, with a side of lead. This is about to get intresting.
What's amusing is that Bloomberg continues under the delusion that the Greece can pay off their debts. One has to be impressed at the level of brain atrophy going on in the MSM to continue to push that line especially when the troika as well as the Germans clearly know there is no way to resolve the situation with Greece without a significant write down of the debt (which is what Varoufakis has been demanding). And he's the one who is considered toxic for dealing in facts and not fantasy!?!
O.K., now give me the head of Dijsselbloem on a spear.
He should have worn a tie.
BS! Varoufaki did not resign.
Varoufakis was asked his resignation by his PM.
A PM will never dismiss his minster. He will ask for his resignation.
he should arrive in Moscow very soon
The victorious Greek people is now offering an olive branch to the rest of Europe. They better take it, otherwise Greece will be more than justified to turn to the East. Actually I believe that the Germans are such "teste di cazzo" that they will screw up everything as they always did throughout hystory.
You're right! If we don't watch out Greece could join the dark side, along with North Korea, Venezuela, Bolivia, Argentina and Ecuador! What a disaster for the west!
Forcing those who hold Greek debt to accept it for what it is, toilet paper, is a good thing. If Greeks want to truly show their heroic colors, they should extricate themselves from the Euro and the European union and go it alone. Pull themselves up by their boot straps. Refuse more debt. Stand on their own.
But they won't do that, now will they. They are simply looking for a more "friendly" credit source. One that empathizes with their "needs" that exceed their ability (willingness) to provide.
Why is it that we will insist that we are all created equal, yet politicians will insist on "equalizing" us when that belief proves false? These same people believe in evolution, yet do everything in their power to prevent it from working. What level we will all be forced to submit in order to ensure that none of us is superior to another? We will stop the climate from changing, stop competition from yielding winners and losers, reward debt whores and punish savers who obviously only care for themselves. Self sufficiency is the ultimate expression of selfishness, of the rejection of collectivism, while debt and dependency are the ultimate expression of collectivism, of the good of the many outweighing the good of the few. Greece is clearly stating that THEIR needs are superior to all others. Debt is but another form of redistribution, only demanding allegiance to the state in return.
agree 100%, except it's a complete pipe dream to think the greeks will do anything except first beg for more handouts and then finally switch to new Drachmas which they will print to infinity to support their welfare state
Clearly a heroic role model for zh!
That sounds feasible if not for the fact that the only reason they were able to dig a hole this deep is because their particular credit history was shrouded by the implicit guarantees of the Euro. I seriously doubt that Drachmas will ever get off the ground, especially now that they have openly repudiated their debts.
But of course, Goldman will financialize anything, as the Greeks already know.
"and assorted ‘partners’, for my…‘absence’ "
Note the 'assorted'.
Note the first pair of scare quotes.
Note the second pair of scare quotes.
Lastly, note the ellipses just before 'absence'.
That is some of the most semantically significant punctuation you will ever see.
He and Tsipris were threatened with assassination. Tsipris got scared.
If he'd have stayed, would the vote still have been 'No'?
Step in another Goldman ex-employee to change the record and dance to Angela's tune.
If only Obarry was half the man.
But his wife makes up for his lack thereof.
Which half? The half that is a pure socialist at heart, or the half that will burn his country to the ground to advance his ideology?
As expected, those opposed to the Greek govts approach and the gumption of Varoufakis have nothing except to try and personally attack him.
You know somebody has succeeded when people start to do cheap personal attacks, its all they have.
I also think Varoufakis resgining is remove the oppotunity for attack and revenge on hime by the Troika boys and their acolytes, and instead have to focuss on dealing with the problem and not a person.
Mr. Varoufakis cannot afford to spend all week in Brussels.
He needs to be in Ufa soonest.
Perhaps Madrid next week.
Watch his movements :-)
There was No good answer for Greece except at some stage get out of the Euro, and especially not bury the economy into the ground with more taxes on the poor, and to cut the pensions on those already poor, certainly not rich. BUT they didn't want Greece to tax the wealthy, haha aka USA.