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What Happens Next In Greece (In 2 Simple Charts)
Over the course of six painful months, negotiations between Athens and Brussels have produced innumerable "deadlines", "ultimatums", and "last chance" summits, none of which have produced a lasting deal or a Grexit. In fact, until the deposit outflows started to accelerate and Greek PM Alexis Tsipras took the dramatic step of putting creditors' proposal to a popular vote, many observers were beginning to lose interest, perhaps believing that the farce might just continue indefinitely.
This Sunday however, is being billed as the day; the deadline to end all deadlines and the very last chance for Athens to remain in the EMU. Meanwhile, pressure on Tsipras — who, according to The Telegraph, likely thought he would be drinking beer with Varoufakis over quiet lunches by now — is building from both sides, with far-left Energy Minister Panagiotis Lafazanis swearing that the "referendum 'no' vote is not going to become a humiliating 'yes'", and Germany showing few signs of weakness. The intractable nature of the situation was brought into sharp relief earlier when MNI described Tsipras' "new" proposal which, by all appearances, looks as though it will be unacceptable to Germany and to the harlinders within Syriza.
In an effort to help cut through the confusion, we you bring you the following two graphics which shed some light on what lies ahead regardless of what transpires between now and Monday.
From Deutsche Bank:
From Bloomberg:
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Stock market closed, banks closed, and austerity for the foreseeable future
Mattresses are the new banks, The military is eyeing a takeover.
Don't let those cute lil' ol' sheep eat the cash.
I'm more interested in seeing how extensively the MSM covers this ongoing Greek Tragedy. Will it lead or will they bury it?
Nest up, Spain and Italy.
Things are improving so much that Spain outlaws dissent:
https://www.techdirt.com/articles/20150705/18174231556/spain-government-goes-full-police-state-enacts-law-forbidding-dissent-unauthorized-photography-law-enforcement.shtml
At what point to we get to see more pictures of elderly people standing in front of an empty bakery?
Whatever. As long as Americans use Greece as a mirror.
That's the flow for the Grexit. How about one for the Gerxit?
What happens next is they are going to need 'Greece' to keep from tearing their assholes as they bend over, grab their ankles and take it deep while asking 'please' very nicely.
The bottomline here is you have to PAY to be in the New World Order, it's NOT a free club.
And nobody and I mean nobody gets to leave the NWO... even if they are forced to relocate to the Eastern franchise for awhile for not paying their membership dues.
Wrong!
Tyler, where's the Flowchart path that shows (a) Tsipras Iscariot getting paid 30 pieces of Ag, and (b) Greece getting cricified?
Will V become Greek's "St. Petrus"?
Didn't see Riots (and riot dogs) in the Flow Chart.
The rooftop snipers were too busy rehearsing in Armenia.
The rooftop snipers were too busy rehearsing in America.
FIXED!
the phrase "it's Greek to me" has a whole new meaning
have they tried smashing plates?
Tsirpias is consulting with the Oracle of Delphi
We all Greeks now. Hackers stole 25 million social security numbers out of Oblameo's . gov
http://www.bloomberg.com/news/articles/2015-07-09/hackers-stole-government-data-on-25-7-million-people-u-s-says
Throw a burning tyre around his neck and then hack the POS to death.
Obama - Commander in Chief at ISIS
Boring. When do the fuel deliveries stop?
sure looks like more can-kicking... DEFAULT THEM ALREADY!
Well, where the first chart is concerned, I find my sentiments-for once- on the far right.
Do not worry: Syriza priorities are elsewhere
http://www.keeptalkinggreece.com/2015/07/09/parliament-approves-bill-gra...
We can just call that "GREnter"
"GRAmnesty"
Future voters and fortification to the racist Golden Dawn.
This gets better. Supposedly Greece can get these people EU Id's and then they can leave Greece towards a brighter future in other EU countries.
The third path is obviously one where no one knows whether there is an agreement or not. This is the preferred option.
The Greeks have a mythological figure for every contingency. Try Sisyphus.
Or our prez, Sisypants.
When does this movie end? Worse than the Lightning Thief.
All the "smart people" are making wild gueses and calling it informed opinion. Too bad there are those pesky, real people involved, all with their own agenda's to push. Greece has been putting off the inevitable for quite awhile and I'm willing to bet that they will continue to do so till the trainwreck is complete......
This reminds me of people speculating about what will happen on "Dallas" or "Lost" next episode or next season.
It's pointless, because all you really know is that the show is going to end.
Tsipras will sell out. He's not personally hurting and he will probably leave the country to live in some luxury villa while the people starve. It's what politicians do
Another round of can kicking would forestal the day of reckoning.
More can kicking means postponing having to actually deal with the problem.
More can kicking means that the pyre is made bigger so that when the fuse gets lit there is just more to be burnt.
Greece may need someone like McArthur to deal with its internal problems.
Not to say what Japan morphed into is any better, but Greece is never going to clean up its' act as long as a Greek is in charge.
Greece as well as Ukraine has problems with corruption draining their country. My work assistant is in Kyiv Ukraine as I write, and tells me that the people she sees are very unhappy with their future. Not a surprise. She speaks both Ukranian and Russian as well as English and told me a story in a grocery store where a mother told her child who was asking for its mother to buy one banana, and the mother in Ukranian said that they can not afford a banana. On my last trip to Kyiv, on Kreschatic street in Downtown Kyiv, commerce with open stores was minimal. I can only imagine how poor the smaller towns are. Oksana (my vice president) will possibly go to Lvov in western Ukraine soon for my company. I will let ZH readers know what it is like there.
Germany will ultimately tell Obama and his cackling pack of jackasl in his State Dept to Fuck Off. Then the whole Euro thing collapses and the DMark is reinstituted. Oh yeh... the Drachma as well.
Puerto Rico for the Puerto Ricans ! Stay there please.
Fuck It, Default and Stay In - let them throw you out if they dare.
(they daren't throw the Greeks out because the EuroZone and the EU itself will implode and they, not Greece, will quite rightly get the blame)
Just Do It.
If only Greece had racked up more debt, everything would have been fine.
http://pebblewriter.com/kocherlakota-more-cowbell/
I always get annoyed with myself when Tyler says in 2 simple charts and i can't make head nor tail of the content.
The term 'Odious Debt' showed up a few times.
Thing about that is that it is against international law.
Greeks shouldn't be negotiating, they should use the law against those (GS, cough, cough) who helped the corrupt politicians to saddle the people with huge amounts of debt that they knew could never be paid back.
Lol,
As if rule of law matters.
"When it comes to the law, nothin' is understood." - George Kennedy, in Cool Hand Luke
Right, either Greece will stay in or they won't. Thanks Capt Obvious!
Just DEFAULT already, Hellas. Declare national debt odious or whatever. Nationalize the banks, issue drachmae. Keep capital controls on all movements of money into and out of the country so you can balance the payments and prioritize hard currency for genuine needs.
Admittedly, that's the hard way to do it, but there IS no easy way any more. But the thing that sank 1930's Germany when they did it was the commitment to outrageous military spending. Greece isn't trying to fight a hot war over this and shouldn't. Control of their own economy should be their only goal.
Germany has more to lose than Greece. Captive importers who borrow money from you and then use it to buy your goods are not that easy to come by.