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"Social Explosion" Begins In Greece As Massive Street Protests Bring Economy To A Fresh Halt

Tyler Durden's picture




 

One thing that became abundantly clear after Alexis Tsipras sold out the Greek referendum “no” back in the summer after a weekend of “mental waterboarding” in Brussels was that the public’s perception of the once “revolutionary” leader would never be the same. And make no mistake, that’s exactly what Berlin, Brussels, and the IMF wanted. 

By turning the screws on the Greek banking sector and bringing the country to the brink of ruin, the troika indicated its willingness to “punish” recalcitrant politicians who pursue anti-austerity policies. On the one hand, countries have an obligation to pay back what they owe, but on the other, the subversion of the democratic process by using the purse string to effect political change is a rather disconcerting phenomenon and we expect we’ll see it again with regard to the Socialists in Portugal. 

After a month of infighting within Syriza Tsipras did manage to consolidate the party and win a snap election but he’s not the man he was - or at least not outwardly. He’s obligated to still to the draconian terms of the bailout and that means he is a shadow of his former self ideologically. As we’ve said before, that doesn’t bode well for societal stability. 

On Thursday, we get the first shot across the social upheaval bow as the same voters who once came out in force to champion Tsipras and Syriza are staging massive protests and walkouts. Here’s Bloomberg:

As Greek workers took to the streets in protest on Thursday, Alexis Tsipras was for the first time on the other side of the divide.

 

Unions -- a key support base for the prime minister’s Syriza party -- chanted in rallies held in Athens the same slogans Tsipras once used against opponents. Doctors and pharmacists joined port workers, civil servants and Athens metro staff in Greece’s first general strike since he took office in January, bringing the country to a standstill for 24 hours. 

 

Greece’s biggest unions, ADEDY and GSEE, are holding marches accusing Tsipras of bowing to creditors and imposing measures that “perpetuate the dark ages for workers,” as the country’s statistical agency released data showing that 1.18 million Greeks, or 24.6 percent of the workforce, remained unemployed in August.

 

The former firebrand opponent of bailouts was catapulted to power this year on a promise to end austerity, only to capitulate to creditors’ demands after the freezing of aid from the euro area brought the country’s financial system to the brink of collapse, forcing Tsipras to impose capital controls.

 

Even more belt-tightening will be required before Europe’s most indebted state gains access to additional emergency loans to cover its budget needs next year, and creditors agree to ease its debt burden. The GSEE union of private sector workers says those measures will bring “punitive austerity, poverty and impoverishment,” to a country where a quarter of the workforce is already without a job.

 

“There’s a risk of social explosion, as pension cuts and tax hikes loom,” said Sotiria Theodoropoulou, a senior researcher at the European Trade Union Institute in Brussels. “Last summer’s shock took a toll on many sectors, and it’s difficult to see where growth will come from.”

Amusingly, Syriza supports the strikes against its own policies (via The Telegraph):

The party's department that deals with labor policy called for mass participation in the walk-out to protest "the neoliberal policies and the blackmail from financial and political centers within and outside Greece."

And more from The Guardian:

Schools, hospitals, banks, museums, archaeological sites, pharmacies and public services will all be hit by the 24-hour walkout. Flights will also be disrupted, ferries stuck in ports and news broadcasts stopped as staff walk off the job. 

 

“We are expecting a huge turnout,” Petros Constantinou, a prominent member of the anti-capitalist left group Antarsya told the Guardian. “This is a government under dual pressure from creditors above and the people below and our rage will be relentless. It will know no bounds.”

 

“Syriza may now be trying to save its soul but it has gone back on all its promises,” said Kalomoiris, a life-long leftist who joined a rebel group, Popular Unity, formed by Syriza dissidents when Tsipras signed up to the bailout in July. 

 

“In this country a graduate starts off in the public sector with a salary of €775 a month, or €9,300 a year, and we are being told that wages will be frozen for the next decade and that every tax imaginable will be increased. How will people make ends meet? It has got to the point where a social explosion is inevitable and it will come sooner rather than later.”

Finally, from CBC:

Greek workers stayed at home on Thursday to protest austerity measures, in the biggest domestic challenge to Alexis Tsipras's government since he was re-elected in September on a promise to cushion the impact of years of economic hardship.

 

Public transport was severely disrupted Thursday, with the Athens metro not running, bus and trolley routes reduced and ferries tied up in port. The strike shut down museums, schools and pharmacies, while state hospitals were functioning with emergency staff.

 

More than a dozen domestic flights were cancelled, while journalists also walked off the job, pulling news bulletins off the air except to report strike news.

Here, apparently, is what the beginning of a "social explosion" looks like:

Images: Protothema


So we suppose the lesson here for the troika is that you may be able to subvert the will of the people in the short term by forcing democratically elected officials to choose between their election mandate and financial ruin/depression, but that only serves to enrage an electorate that clearly was already fed up in the first place. 

Obviously, this is decidedly untenable scenario and if there is indeed a rash of massive protests that causes public (and private) services to go dark for days at a time, something will have to change politically and that, in turn, sets the stage for yet another showdown with the troika. Case in point... here's the Belgian finance minister's response:

And last but not least, the latest jobs data for the country is out on Thursday. Unemployment is still exceptionally high, coming in at 24.6% in August with youth unemployment hovering near 50%:

 

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Thu, 11/12/2015 - 08:50 | 6781261 VinceFostersGhost
VinceFostersGhost's picture

 

 

Wow.....again?

 

When they force Greece to take the Syrian terrorists....the fireworks will really start.

Thu, 11/12/2015 - 08:52 | 6781279 Took Red Pill
Took Red Pill's picture

Brought to you by Goldman Sacks

Thu, 11/12/2015 - 09:00 | 6781302 VinceFostersGhost
VinceFostersGhost's picture

 

 

AKA....the Washington Cartel.

 

Join us.....or pay the tax.....there is no escape.

Thu, 11/12/2015 - 09:32 | 6781406 Pliskin
Pliskin's picture

If I join do I still have to pay the tax?

Thu, 11/12/2015 - 09:46 | 6781467 VinceFostersGhost
VinceFostersGhost's picture

 

 

Yes.....but you get a special title in the cult.

 

You also get a Common Core tee shirt.

Thu, 11/12/2015 - 09:51 | 6781487 greenskeeper carl
greenskeeper carl's picture

Burn motherfucker, burn....

 

https://www.youtube.com/watch?v=Adgx9wt63NY

 

Here ya go, guys. your anthem.

Thu, 11/12/2015 - 09:55 | 6781503 negative rates
negative rates's picture

I heard somebody say.......

Thu, 11/12/2015 - 09:58 | 6781516 Latina Lover
Latina Lover's picture

The Greek government should just default on their debts. There is no future for greece as long as they are in the clutches of the banksters.  Default now, to hell with Goldman Sachs!

Thu, 11/12/2015 - 10:07 | 6781537 VinceFostersGhost
VinceFostersGhost's picture

 

 

Walk like an Icelander.....or at least fake it.

 

I'd start there.....maybe improvise after that.

Thu, 11/12/2015 - 10:16 | 6781577 Mr.Sono
Mr.Sono's picture

yes, like the last protest worked out well for them.

Thu, 11/12/2015 - 10:25 | 6781618 tmosley
tmosley's picture

Are we sure the stopped economy didn't bring the people into the streets?

Because that it what it looks like to me.

Thu, 11/12/2015 - 11:01 | 6781793 NoDebt
NoDebt's picture

Well, thank goodness Greece is finally back in the news.

 

Thu, 11/12/2015 - 11:06 | 6781816 coinhead
coinhead's picture

Greece back in teh news, record gold coin sales, Bitcoin rallying again, right shoulder of DOW breaking down, is this teh big one?  Stay tuned...

Thu, 11/12/2015 - 11:31 | 6781967 El Vaquero
El Vaquero's picture

It's not the big one until you hear about some major players going under.  This shit will be papered over until something breaks in such a way that interferes with the flow of physical goods. 

Thu, 11/12/2015 - 11:24 | 6781942 BarkingCat
BarkingCat's picture

They should have done that at least a year ago..... but late is better than ever

Thu, 11/12/2015 - 12:45 | 6782433 gatorengineer
gatorengineer's picture

Why should they?  Want to know how this ends?

"Dear Angie, weather is great, and having a good wine crop this year, when you get a chance could you please send another 100Billion, love your little Kuchen, Tsakis."

Germans work Greeks party, rinse and repeat.

 

Thu, 11/12/2015 - 13:42 | 6782780 Crash Overide
Crash Overide's picture

I thought Draghi fixed Greece?

Thu, 11/12/2015 - 13:53 | 6782828 Anonymous User
Anonymous User's picture

They should go full greek on Draghi's ass:

 

http://www.thepornster.net/video/67/

Thu, 11/12/2015 - 10:08 | 6781552 kralizec
kralizec's picture

I'm still struggling with the concept of "bringing to a halt" that which has had no discernable movement to begin with...

 

Thu, 11/12/2015 - 12:43 | 6782415 J Jason Djfmam
J Jason Djfmam's picture

If you bring imaginary momentum to a halt in the forest does it make any sound?

Thu, 11/12/2015 - 09:59 | 6781523 BurningFuld
BurningFuld's picture

Welcome to the Euro. We are here to help.

Thu, 11/12/2015 - 10:05 | 6781541 piliage
piliage's picture

I think I see those green shoots... just the other side of the burning police car...

Thu, 11/12/2015 - 10:27 | 6781633 Enceladus
Enceladus's picture

and a spiderman towel signed by linda Green

Thu, 11/12/2015 - 10:41 | 6781686 Pliskin
Pliskin's picture

Where do I sign?

Thu, 11/12/2015 - 09:05 | 6781315 Luc X. Ifer
Luc X. Ifer's picture

Guys, do you know that big protests happen for long already in Romania where USSA tries another 'Ukraine' ?!

http://occupywallstreet.net/story/one-week-protests-what%E2%80%99s-going...

http://www.bbc.com/news/world-europe-34726826

 

Thu, 11/12/2015 - 10:18 | 6781589 Lorca's Novena
Lorca's Novena's picture

I havent heard anthing about this, figures. Bt I do imagine the gold exploration company and oil co. will certainly provide jobs to ROMANIANS  and not global corporate asshats? No you say? Hmmmm  Thats like saying the son of a vice president will take over the enrgy department of an entire country!!

Thu, 11/12/2015 - 09:10 | 6781332 silverer
silverer's picture

"Goldman Sacks".  You spelled that wrong.  It's "Goldman Sucks".

Thu, 11/12/2015 - 10:34 | 6781650 caconhma
caconhma's picture

The only thing Greek people can do is to walk. They became totally useless parasites.

Thu, 11/12/2015 - 10:39 | 6781670 RadioFlyer
RadioFlyer's picture

No No No, its Golden Socks.

 

Thu, 11/12/2015 - 08:59 | 6781295 skistroni
skistroni's picture

The "violent" depictions above are due to a couple hundred so-called anarchists that have regularly been derailing every peaceful protest in the last 20 years or so. You haven't seen the people's anger yet.

Thu, 11/12/2015 - 09:08 | 6781322 The best Sun
The best Sun's picture

The "anarchist" provocateurs probably have pockets full of globalist Euros.

They want the defense minister in charge and the "Colonels".

I foresee violence even if the people don't want it.

Blame any collapse on the violence of the population not the German banksters.

Thu, 11/12/2015 - 10:17 | 6781575 back to basics
back to basics's picture

There is no violence coming, the Greek public has been pacified and have accepted their systematic impoverishment and loss of sovereignty.

Considering the number of unemployed and the onerous and catastrophic measures Tsipras has been passing with the fast track repossession and auctioning of place of first residence for those with mortgages in arrears coming soon, the reported 30,000 demonstrators is not much of a show.

Part of the reason, however, why people don't show is the organized violence that accompanies these demonstrations in Greece carried out by the bought and paid for so called "anarchists". They are anarchists my ass, they are hired Molotov hurling thugs.

The war between the banks and the people in Greece has been fought and regrettably the people were routed.

Thu, 11/12/2015 - 11:16 | 6781893 shovelhead
shovelhead's picture

The bright side is that there is hope for jobs for those kids in Fergeson.

Thu, 11/12/2015 - 10:42 | 6781694 eforce
eforce's picture

From The Protocols:

 

6. The people, under our guidance, have annihilated the aristocracy, who were their one 

and only defense and foster-mother for the sake of their own advantage which is 

inseparably bound up with the well-being of the people. Nowadays, with the destruction 

of the aristocracy, the people have fallen into the grips of merciless money-grinding 

scoundrels who have laid a pitiless and cruel yoke upon the necks of the workers. 

 

7. We appear on the scene as alleged saviours of the worker from this oppression when 

we propose to him to enter the ranks of our fighting forces - Socialists, Anarchists, 

Communists - to whom we always give support in accordance with an alleged brotherly 

rule (of the solidarity of all humanity) of our SOCIAL MASONRY. The aristocracy, 

which enjoyed by law the labor of the workers, was interested in seeing that the workers 

were well fed, healthy, and strong. We are interested in just the opposite - in the 

diminution, the KILLING OUT OF THE GOYIM. Our power is in the chronic shortness 

of food and physical weakness of the worker because by all that this implies he is made 

the slave of our will, and he will not find in his own authorities either strength or energy 

to set against our will. Hunger creates the right of capital to rule the worker more surely 

than it was given to the aristocracy by the legal authority of kings. 

 

8. By want and the envy and hatred which it engenders we shall move the mobs and with 

their hands we shall wipe out all those who hinder us on our way. 

Thu, 11/12/2015 - 14:06 | 6782895 More Ammo
More Ammo's picture

There you go telling everyone the WHY of it all.  "They" won't believe it anyway.

Thu, 11/12/2015 - 14:20 | 6782968 eforce
eforce's picture

For those that are open to learning more I think it's worth posting, but this plan will happen whether people like it or not, it's beyond the realm of the commoners intelligence to resist it.

Thu, 11/12/2015 - 08:59 | 6781296 Oldwood
Oldwood's picture

Sequels are so yesterday.

Thu, 11/12/2015 - 09:00 | 6781303 CheapBastard
CheapBastard's picture

Is this " Liftoff? "

Thu, 11/12/2015 - 09:06 | 6781318 Oldwood
Oldwood's picture

I am convinced that the daily events suggesting eminent collapse will repeat until such time as we are led to believe them "normal", and at that point, it WILL collapse. So we simply prepare as we can and then relax.

Thu, 11/12/2015 - 09:57 | 6781512 negative rates
negative rates's picture

One amusing timer, huh?

Thu, 11/12/2015 - 11:59 | 6782143 Noplebian
Thu, 11/12/2015 - 12:03 | 6782178 doctor10
doctor10's picture

The EU bought the NSA data file on Tsipras-

Looks like they've run out of leverage on the rest of the Greeks tho

Thu, 11/12/2015 - 08:51 | 6781267 JustObserving
JustObserving's picture

Apparently pensions of $94 a month are not enough.

Greek debt is $65,000 per taxpayer versus $1,720,000 per taxpayer in US per Kotlikoff.

Wealthy Germans Forced Pensions of Poor Greeks Down to $94 monthly

http://www.paulcraigroberts.org/2015/07/19/wealthy-germans-forced-pensio...

Thu, 11/12/2015 - 08:54 | 6781287 ToSoft4Truth
ToSoft4Truth's picture

LOL - Awesome. 

Thu, 11/12/2015 - 10:13 | 6781531 VinceFostersGhost
VinceFostersGhost's picture

 

 

Math makes my brain hurt.

 

That......and scatter charts.

Thu, 11/12/2015 - 22:48 | 6785020 mkkby
mkkby's picture

I don't remember spending that $1.7 million.  Show me my signature on the note or FUCK OFF.  Better yet, try to collect, as I went galt a few months ago.

Thu, 11/12/2015 - 09:11 | 6781336 chubbar
chubbar's picture

If the Greeks had welcomed Tsipras back home with a bullet in the head, the next guy to confront the Troika wouldn't be so eager to agree to their assfucking. That is what it is going to take to get your mandate taken seriously.

Thu, 11/12/2015 - 11:42 | 6782032 Pure Evil
Pure Evil's picture

Well, now is the time to do something since the Germans have decided to fuck themselves in the ass with a muzzie phallus.

Thu, 11/12/2015 - 22:53 | 6785035 mkkby
mkkby's picture

Germany hates greeks and loves muzzies.  If you are a poor greek, throw away your ID and go to germany posing as a refugee.  Free shit for life.

If you feel like it rape a white german woman.  They'll make excuses why it's okay.

Thu, 11/12/2015 - 08:50 | 6781270 mademesmile
mademesmile's picture

What will it take for the government to change currencies? The Euro is killing them.

Thu, 11/12/2015 - 09:02 | 6781309 Oldwood
Oldwood's picture

Nothing changes until they "believe" that they have nothing left to lose. With all of the delusion and misinformation, people just don't realize that given their collectivized debts, they have less than nothing.

Thu, 11/12/2015 - 09:58 | 6781521 negative rates
negative rates's picture

They have more denial than they have ever had, but their time is running out.

Thu, 11/12/2015 - 10:35 | 6781644 piliage
piliage's picture

DING DING DING DING DING We have a winner!

Must be nice to be a German politician and know you can export inflation to Greece, Spain, Italy and France paid for by their taxpayers. Bend over Southern Europe, have a German Bratwurst Colonoscopy like its 1939. Smile.

Thu, 11/12/2015 - 12:10 | 6782229 Perfecthedge
Perfecthedge's picture

I love you unknown ZH rebell! You made me laugh hard and for that I will be forever thankful. Should I win the lottery, than I will throw a party and invite you to the Bratwurst-Fest here in Portugal! Seriously. You have good humour!!! :-D

Greetings from Portugal (PS: We have now a extrem left government...including the Communists. They want to protect families from Banks: New law will be passed to protect families from eviction. Will see how that goes down).

Thu, 11/12/2015 - 19:20 | 6784415 piliage
piliage's picture

Much appreciated. Just make sure those Brats haven't been used for medical purposes and I'm there!

Thu, 11/12/2015 - 08:54 | 6781272 XAU XAG
XAU XAG's picture

Europe and the rest of the "WEST" are going to shit.

 

And nothing can stop it untill the debt stops

 

Hubris at the highest level

 

As my parents would say "theres no money tree at the bottom of the garden"

Thu, 11/12/2015 - 09:09 | 6781325 Oldwood
Oldwood's picture

Not so much debt as debt based on "created" money. It is this "money from nothing" that is distorting and ultimately destroying world economies.

Thu, 11/12/2015 - 10:22 | 6781604 Usurious
Usurious's picture

wrong asshat...............its the fucking USURY attached to fiat (created ex-nihilo) that is the problem...........

Thu, 11/12/2015 - 12:11 | 6782230 Grin Bagel
Grin Bagel's picture

Why the adolescent, insecure personal attack in your response, you can be better than that, your counbtry needs better than that.

Thu, 11/12/2015 - 08:51 | 6781273 kliguy38
kliguy38's picture

What economy might that be?......

Thu, 11/12/2015 - 08:51 | 6781274 ToSoft4Truth
ToSoft4Truth's picture

How much longer can Greece milk the freebies.    Cut ‘em off. 

Thu, 11/12/2015 - 09:01 | 6781305 The best Sun
The best Sun's picture

They can't.

The german banks would implode.

Have you been huffing paint again?

Thu, 11/12/2015 - 09:11 | 6781337 Oldwood
Oldwood's picture

The most lethal thing to a system based on delusion is reality.

Thu, 11/12/2015 - 08:52 | 6781277 unplugged
unplugged's picture

Greece is fixed. Didn't you get the memo?  Move on.

Thu, 11/12/2015 - 09:13 | 6781343 silverer
silverer's picture

Yes.  The only thing left to do is plant more gardens.

Thu, 11/12/2015 - 09:15 | 6781349 Seer
Seer's picture

Crap!  I was all ready to make that comment!

Fortunately the ROW's banking risks have been fixed! (squirms on couch seat trying to hold down powder keg)

Thu, 11/12/2015 - 09:09 | 6781329 11b40
11b40's picture

And so it begins.....with no end in sight.

Thu, 11/12/2015 - 09:03 | 6781301 dreadnaught
dreadnaught's picture

I will bet any leader that challenges the $tatus quo is told that if they keep it up, they will find their family buried in a landfill the next morning, with bullets to the back of their heads.

When there are TRILLIONS to be made-these vile people will stop at nothing.

Thu, 11/12/2015 - 09:10 | 6781331 I AM SULLY
I AM SULLY's picture

I'll go you one further: I think they will be set on fire, beated, then burned, then beaten again, then burned again ... then beaten ... then shot.

Thu, 11/12/2015 - 09:18 | 6781360 Seer
Seer's picture

Wait!  Could you write that a bit slower so I can get it all down? (never did real well on tests)

Thu, 11/12/2015 - 09:26 | 6781386 Pliskin
Pliskin's picture

Look, this is how the threat went down... "Hey, Tsipras, get your country (snigger) under control, harsh austerity measures, submissive populace or else we'll send Hillary round to your house to give you a soapy tit-wank."

 

 

Thu, 11/12/2015 - 10:11 | 6781560 Brit_Abroad
Brit_Abroad's picture

Oh no ......not the soapy tit wank.

Thu, 11/12/2015 - 17:29 | 6783959 petroglyph
petroglyph's picture

Exactly, they will be Kennedy'd 

Thu, 11/12/2015 - 09:03 | 6781310 Pliskin
Pliskin's picture

Sorry Greeks, but you are a bunch of pussies, just like the Yanks and the Brits, I mean seriously, they targeted a shoe store for fuck sake, protests in England they target McDonalds, protests in the U.S. they target local shopkeepers.

Wake me up when ANY protesters against government, government policies, are targeting the mother-fucking government and their buildings....until then, Fuck Off Greece, go and smash your own house up in protest you bunch of queer, peasant, EU shit-licking, piss-ants.

 

 

Thu, 11/12/2015 - 09:10 | 6781330 soniii
soniii's picture

maybe coz they don't have money thanks to crisis/capital control and there is actually something to steal in a shop, government money is digital, just numbers on a screen.... negative ones.

i'd do a massive strike until the country leave the euro or until the IMF pay off their debts with yellen printing machine, now that would be an idea ! frenchstyle!

Thu, 11/12/2015 - 09:20 | 6781368 chubbar
chubbar's picture

Well, that action of targeting stores because you need money is hardly a protest against the gov't and more like a mob looting event. These is a difference between those two actions. One is against the gov't and be considered legitimate, the other against your fellow member of society and be considered a crime. NOTE: I'm sure protesting against gov't is also considered a crime by gov't employees.

Thu, 11/12/2015 - 09:46 | 6781468 RockySpears
RockySpears's picture

Once the shops are empty, with nothing to loot ....

Thu, 11/12/2015 - 09:22 | 6781375 Seer
Seer's picture

Yeah, really, why can't anyone get it right?  ISIS/ISIL/<whatever today's alphabet-soup is> FAILS to attack Israel?

Either people are really stupid or TPTB's programming is amazingly effective.

Thu, 11/12/2015 - 10:54 | 6781762 Hopeless for Change
Hopeless for Change's picture

Not "either"

Both

Thu, 11/12/2015 - 11:42 | 6782031 El Vaquero
El Vaquero's picture

Rational, thinking people either aren't pissed off enough yet, or they realize that they'll be looked at as nutters because people actively refuse to belive that things are going to shit.  Things need to get worse before we have a critical mass and then we need to be worried about a strong man who wants to come in and take control. 

Thu, 11/12/2015 - 17:32 | 6783939 petroglyph
petroglyph's picture

I hear you on where to protest Snake, but everyone needs to remember the banks [Bis, IMF, GS] didn't actually have the money to loan, they printed it. The protests need to be at the banks, not the shoe store.

Now the bankers and wall streeters are buying up med islands on the cheap.

The problem isn't/wasn't Greece, it is Portugal and France. Greece is an example.

Thu, 11/12/2015 - 09:03 | 6781312 soniii
soniii's picture

they just had to leave the euro and nationalize their state, was telling the same thing in july they just delayed the process by 6 months ..

its hopeless to stay i just hope europe won't send the army or the S will HTF 

Thu, 11/12/2015 - 09:16 | 6781352 The best Sun
The best Sun's picture

Tsipras is a globalist agent. This is exactly how it was always supposed to go. Destroy Syriza from the inside, laying the ground work for a militarist right wing government led by the globalist defense minister Panos Kammenos. The "refugees" are just an added pressure point so this kind of thing happens through all of Europe. Good right thinking fascists in charge of the new UN led globalist world.gov.

I smell something.

Thu, 11/12/2015 - 09:32 | 6781405 soniii
soniii's picture

yeah i think i saw that before somewhere ... like on half the planet thanks to america empire expension classic technic :
propaganda around the current leader to destroy his media image, following by strong actions taken either by militaries or by rioting, then replace him with a savior who will agreed to everything the former president refused, classic song indeed.

Thu, 11/12/2015 - 09:27 | 6781395 Anopheles
Anopheles's picture

Leaving the Euro still won't pay back their debts, and it won't pay all those entitled civil servants. 

Without foreign exchange (euros, dollars) they won't be able to buy/import ANYTHING and that includes oil and gas. 

Thu, 11/12/2015 - 09:49 | 6781481 RockySpears
RockySpears's picture

100 years ago they did not need oil and gas, maybe it will not be so hard.

Sat, 11/14/2015 - 01:07 | 6790697 AE911Truth
AE911Truth's picture

Greece cannot balance their budget until they recover the wealth stolen by their leaders.

Thu, 11/12/2015 - 09:08 | 6781321 Mike Masr
Thu, 11/12/2015 - 09:09 | 6781327 silverer
silverer's picture

I were them, I'd be heading to Germany.

Thu, 11/12/2015 - 09:17 | 6781354 XAU XAG
XAU XAG's picture

@ silverer

 

I had simular thoughts but then they may...................have to work and pay taxes!

 

Just a thought

 

Thu, 11/12/2015 - 09:15 | 6781335 Sudden Debt
Sudden Debt's picture

Well, I think they're realizing that their pensions will drop to zero and in a socialist paradise where most people work for the government and are all joined by a union, that can get pretty violent FAST!

 

Some goes for the rest of Europen and America.

America isn't immune to that either! There's plenty of govenrment employees that get paid royaly and don't give a fuck about the rest UNTILL their benefits get cut.

Then you'll see the same fires over there also!

 

And it's easy to see how they don't give a fuck about the rest. That shoestore for example? That's from a small business owner trying to keep his head above the waterline.

They didn't give a fuck and destroyed his shop and made sure he couldn't make a living to add pressure to his own cause.

That's why these protest should be beaten down with a hard stick.

It's these protestors who are at the root of the problem in the first place. And they don't represent the average person who doesn't work for the government.

 

Thu, 11/12/2015 - 09:27 | 6781391 Mark Mywords
Mark Mywords's picture

When you think it's time to protest, you're already too late. - some guy called Tsar Pointless

Thu, 11/12/2015 - 11:21 | 6781923 The Most Intere...
The Most Interesting Frog in the World's picture

"That's why these protest should be beaten down with a hard stick.

It's these protestors who are at the root of the problem in the first place. And they don't represent the average person who doesn't work for the government."

Very well stated and 100% accurate!

Thu, 11/12/2015 - 09:11 | 6781338 Jason T
Jason T's picture

Faustian bargain socialism is .. I tell you.  It's out come is coming to all nations that embraced this fraud of a system.  

Thu, 11/12/2015 - 09:15 | 6781348 youngman
youngman's picture

so they want more money..that they dont have....I am so glad Greece is back in the NEWS....

Thu, 11/12/2015 - 10:01 | 6781526 Seer
Seer's picture

The best dissection of this insanity was given with this (many years ago):

https://www.youtube.com/watch?v=I5QwKEwo4Bc

Thu, 11/12/2015 - 09:15 | 6781350 Troy Ounce
Troy Ounce's picture

 

Boooooringgggg.

Can someone send those sheeple to their enclosure?

Thu, 11/12/2015 - 09:20 | 6781358 Batman11
Batman11's picture

Europe was plagued with impossible debts after the first world war.

What you see first is the soft Left, the bleeding heart liberals who tend to back down.

International creditors keep demanding their cash, then you get National Socialism (Nazis), Fascism, the very hard Left.

It took Hitler to default on Germany’s debts in 1933. 

1920s/2000s - high inequality, high banker pay, low regulation, low taxes for the wealthy, robber barons (CEOs), reckless bankers, globalisation phase

1929/2008 - Wall Street crash       

1930s/2010s - Global recession, currency wars, rising nationalism and extremism

 

Thu, 11/12/2015 - 09:22 | 6781374 Mark Mywords
Mark Mywords's picture

Fascism on the very hard Left? Not this shit again...

Thu, 11/12/2015 - 09:50 | 6781470 Batman11
Batman11's picture

it is not really a line between Left and Right.

It's a circle, the extremes of the Left and Right look very similar.

UKIP in the Uk is treated as right, but keeps pulling voters from the Left and Right 

The Nazis were National Socialists.

Was the old Russia communist or Fascist?

 

Thu, 11/12/2015 - 11:47 | 6782054 El Vaquero
El Vaquero's picture

Compare what was considered left and right in the '90s to now, and you come to the conclusion that the concepts are a moving target and they might just be bullshit targets.  Am I left or right?  I just don't give a shit. 

Thu, 11/12/2015 - 10:05 | 6781540 Ides of November
Ides of November's picture

I'll make it simple for you.

The Left = Big Government, Government always there to interfere in your life / lend a hand. Ie Communist, Socialist, and yes - Fascist.

The Right = Small Government. Individual liberties lifted high above the rights of the State, Government favoured enterprises.

Do you really think when the Governmenr, industry & banks are joined at the hip (hello bank bailouts, TARP, QE 4Ever are examples of small Government???)

Really???

It is sliding towards totalitarian, authoritarianism. Classic Left-Wing fundamentals.

This is not confusing. You've been confused by the false paradigms pushed by the MSM.

The Left is ascendant in most of the world - despite what labels pollies attach to themselves.

Thu, 11/12/2015 - 10:41 | 6781653 Memedada
Memedada's picture

I’ll make it easy for you: you’ve been fooled!

Big government is not equal left-wing – it’s a ridicules statement and is telling of the power of the US corporate propaganda-machine.

A state is just a tool – in can be used for and by the right-wing or the left-wing.

A Monarchy is right-wing by definition (actually the term right- vs. left-wing originates from the time of the first parliaments – the Kings/Queens men/woman were sitting at the right-wing of the parliament and the opposition (at that time the capitalists) were sitting at the left-wing). The ‘left-wing’ at that time ended up taking power of the state – and became the right-wing after a new opposition to the capitalist state emerged (the – at first banned – left-wing parties of anarchists/libertarians (the real sort), socialists, communists, social democrats etc.).

In Denmark some of the old parties that are now extreme right-wing have names that tells this story: Venstre (currently the only party forming the government of Denmark) literally translate to the left – it’s a pro-business, pro-capitalism and pro-EU/banksterism party = a right-wing party. A hundred years ago it was the left-wing (vs. the conservatives who supported the power of the King/the state).

The ‘state of Denmark’ is now – as all Western nations – a tool for the ownership class (the FIRE-sector in particular).

In US it’s pretty obvious that the state have been taken over by big business – it’s not the US Government who calls the shots, they are just following orders from their masters on Wall St. (and City of London). States today are owned by the capitalists.

 

Thu, 11/12/2015 - 10:39 | 6781674 Memedada
Memedada's picture

National Socialism is more properly called ethnocentric fascism – fascism that uses ethnicity as a propaganda tool (as the US version of fascism uses ‘patriotism’, ‘national security’, ‘terrorism (the Muslim-scare)’ as propaganda tools).

The German version of National Socialism was otherwise known as Nazism. It was basically the concept of Nationalism taken to its extreme in an era when Communism and Socialism were gaining broad support among the poor. In Germany, National Socialists blamed the tiny minority of non-natives for all crises (most know of course the Jews, but actually all ethnicities that didn’t look ‘Aryan’ enough). They used the "Socialist" moniker to draw in popular support.

The Nazis arranged protests, pamphlets, rallies etc. to build hatred against Jews, Socialists, Communists, gays, and intellectuals (replace Jews with Muslims/immigrants and you have the US-version of Fascism). The Center Party in Germany at that time liked the Nazis' anti-Communist, free market beliefs and allowed its rise to power in what was probably the worst political underestimation in history. The Nazis then banned the Center Party (together with the socialist and communist parties).

Fascism (Nazism is a version of fascism – se above) is a right-wing ideology. It supports and is supported by the ownership class – today and historically.

Thu, 11/12/2015 - 11:15 | 6781886 The Most Intere...
The Most Interesting Frog in the World's picture

Great analysis!  The only thing I would disagree with is placing Fascism on the Far Right.  I believe Fascism to be a far left wing ideology and have written about it here, here and here.  The popularity of Trump, for me, is concerning.

Thu, 11/12/2015 - 13:22 | 6782638 El Gringo
El Gringo's picture

You two are some serious leftist degenerates.  It's not surprising to see that you're concerned about Trump.  Fuck your worthless third world rapist invaders, your cherished gun control, your idiotic social justice, and above all your vile zionist financiers.  The regular folk that you people look down on are sick of your shit.  SIEG HEIL!

Thu, 11/12/2015 - 11:08 | 6781827 The Most Intere...
The Most Interesting Frog in the World's picture

"Europe was plagued with impossible debts after the first world war."

This is the sick part:  Yes, WW I created massive debts and this ultimately lead to WW II.  Now, not war, but living high on the hog has lead to the current conditions.  The enemies of young Greeks are older generations of Greeks.  This is not complicated.  The sutuation is no different in any other Socialized western country and the problems will need to be solved internally, not blaming and going to war with bankers or other countries.

Thu, 11/12/2015 - 09:21 | 6781370 RabbitOne
RabbitOne's picture

None of these protests and marches will mean “squat” until the other 95% of the world’s sheeple population has their MSM mask removed. Most sheeple are slopped from elites propaganda trough. When they do awaken and find they have been deceived the sheeple rage will be enormous.

Thu, 11/12/2015 - 09:24 | 6781379 Mark Mywords
Mark Mywords's picture

Against one another. The elites have locked themselves away, far away from the proles.

Thu, 11/12/2015 - 09:48 | 6781449 Anopheles
Anopheles's picture

The sheeple haven't been deceived by anyone except themselves.  They only chose to hear what they wanted to hear and ignored reality.

Reality is just catching up and now has them by the nuts and they're screaming. 

Thu, 11/12/2015 - 09:22 | 6781372 Permanentvacae
Permanentvacae's picture

I guess when outsiders intrude and take over your lands, the last resort is to burn it all down.

Thu, 11/12/2015 - 11:02 | 6781795 The Most Intere...
The Most Interesting Frog in the World's picture

NO, this is what happens when a country lives beyond their means.

Thu, 11/12/2015 - 09:22 | 6781373 Praeda2
Praeda2's picture

Do they already forget that they voted for it? TWICE? haha fucking retards don't know if they're coming or going. Yeah let's protest... ourselves. Maybe! just maybe, they're lazy cunts and will do anything not to work. Fuckers are forwarding all the 'refugees' so let them burn.

Thu, 11/12/2015 - 09:23 | 6781377 williambanzai7
williambanzai7's picture

This is what suckers look like when they wake up.

Thu, 11/12/2015 - 09:42 | 6781453 Raul44
Raul44's picture

They did not woke up(yet). They did this same shit for years already and yet when vote was to be made they always wanted to stay in EU and keep euro. Once they specifically and in majority openly declare to quit both, only then had they awaken. But I dont see that happen any time soon if ever so they will remain suckers forever.

Meanwhile they destroy their own economy for no real reason. If you look at posted unemployment data here, since 2013 they actually kept improving. How much better could they be if no strikes? Much quicker, probably double rate or more. People are more stupid than their government and that go for most countries. I regret buying that Greek honey last week, will never support suckers that dont know what they really want anymore.

Thu, 11/12/2015 - 10:06 | 6781546 negative rates
negative rates's picture

This comming from a guy who breaks a mirror every morning  just by looking at it.

Thu, 11/12/2015 - 09:24 | 6781381 Hubbs
Hubbs's picture

I think we are finally starting to see the real beginning....

Thu, 11/12/2015 - 09:45 | 6781462 Anopheles
Anopheles's picture

Not quite.  There's still a trickle of money flowing into the country.   Like the EU promising €1 billion euros if Greeks accept refugees, instead of implementing drastic cuts like they were supposed to. 

That €1 billion only buys them a few weeks to a month max.    Just wait.  The party is just getting started. 

 

Thu, 11/12/2015 - 09:27 | 6781394 yogibear
yogibear's picture

Didn't the BSers on CNBC say that Greece was fixed?

LOL, What a recovery!

Thu, 11/12/2015 - 09:35 | 6781417 Pliskin
Pliskin's picture

You misheard, they said 'fucked'.

Thu, 11/12/2015 - 10:03 | 6781532 Moonrajah
Moonrajah's picture

The new term is actually 'fuxed' which obviously stands for a bit of both.

Thu, 11/12/2015 - 11:01 | 6781791 The Most Intere...
The Most Interesting Frog in the World's picture

What is CNBC?

Thu, 11/12/2015 - 09:28 | 6781397 Mick Shrimpton
Mick Shrimpton's picture

Too late Greece, you made your choice, now you have to live with it.

Thu, 11/12/2015 - 09:32 | 6781407 Atomizer
Atomizer's picture

Look at my left hand and not the right states, IMF Muppet magician.

 

Global Transitions Implications for the GCC Region
Thu, 11/12/2015 - 09:34 | 6781413 Hyjinx
Hyjinx's picture

So why doesn't Greece just leave the Euro if it is killing them?  Oh, right - because they don't want to live with their own worthless currency.  Maybe they'll finally realize they can't have it all but that would be too simple.

Thu, 11/12/2015 - 09:53 | 6781498 Atomizer
Atomizer's picture

Lagarde is the next Amway spokesperson. 

Thu, 11/12/2015 - 09:56 | 6781509 RockySpears
RockySpears's picture

"they don't want to live with their own worthless currency"

A little time and all fiat currencies will be seen as the worthless things they are.  Don't be too hard on the Greeks, their future, may save yours.

Thu, 11/12/2015 - 11:52 | 6782088 Atomizer
Atomizer's picture

The SDR is a joke. You have to plant seed money in order to use it under conditions. 

Thu, 11/12/2015 - 09:38 | 6781433 pliny the longer
pliny the longer's picture

memo to greeks:  u mad bro?

Thu, 11/12/2015 - 09:40 | 6781443 Fireman
Fireman's picture

The United Snakes of Urupp...(that Anglozionazi remake of the United Snakes of Amerika) is dead. Long live the revolting EuroPeons.

 

Onward ever faster to the much awaited collapse of bankst€ri$m!

Thu, 11/12/2015 - 10:40 | 6781680 Polymarkos
Polymarkos's picture

Boy, you sure live in a paranoiac's fantasy bubble!

Thu, 11/12/2015 - 09:40 | 6781444 Niall Of The Ni...
Niall Of The Nine Hostages's picture

Yawn. Boring!

They know what they need to do if they're serious about freedom from debt-peonage. The army of the Hellenic Republic needs to do what they did in 1967---take direct control and remove, promptly, the elements in Greek public life that keep Greece from living within her means. They need to go do it or stop expecting anybody else to give a shit if they live or die.

The banksters want your first born? Lot of that going around. What did you ever do to stop them taking him? What are you going to do now?

The men of Novorossiya shit bigger things than the Greeks.

Thu, 11/12/2015 - 09:58 | 6781520 RockySpears
RockySpears's picture

"They know what they need to do"

 

No they don't!

 

That is the whole reason for this, 95% of "people" do not know.

 

I think they will learn fast.

Thu, 11/12/2015 - 09:46 | 6781465 Oboneterm
Oboneterm's picture

Soros$$$$$$$.....do I need to say more.

Thu, 11/12/2015 - 09:47 | 6781471 Raul44
Raul44's picture

Yes destroy more shops, that make sense. Hopefully you wont need to buy anything ever.

Thu, 11/12/2015 - 09:48 | 6781473 Phillyguy
Phillyguy's picture

“There’s a risk of social explosion, as pension cuts and tax hikes loom”- do you think? What exactly was going through the minds of the Troika when they destroyed the Greek economy, cut pensions and subsidies, increased unemployment, austerity and poverty, while looting public assets in the country? The ECB’s policy towards Greece is based on Bankers greed, with little if any regard for the long term social consequences of their actions. Unfortunately, problems in Greece are relatively minor compared with upcoming financial problems in Portugal, Italy, Spain and France, all confronted with high unemployment, anemic job growth, increasing austerity, poverty, debt and increasing social unrest. To quote the Wicked Witch of the West (Wizard of Oz) “Why my little party's just beginning”.

Thu, 11/12/2015 - 10:21 | 6781600 tsuki
tsuki's picture

'“There’s a risk of social explosion, as pension cuts and tax hikes loom”- do you think? What exactly was going through the minds of the Troika when they destroyed the Greek economy, cut pensions and subsidies, increased unemployment, austerity and poverty, while looting public assets in the country?'

 

The Schaüble Manifesto. 

Thu, 11/12/2015 - 10:59 | 6781781 The Most Intere...
The Most Interesting Frog in the World's picture

The Greeks destroyed the Greek economy, not the Troika!

Thu, 11/12/2015 - 09:49 | 6781485 Maestro Maestro
Maestro Maestro's picture

You Greeks are MORONS.

You voted back into power the very traitor who sold you out to the bankers. You chose as your leader the same scumbag who renounced your referendum result as illegitimate and imposed the austerity measures required by the bankers that you Greeks opposed.

You Greeks are full of shit and you're wasting our time. Go suck some Turkish dick. Looks like you still crave for it, as it seems stinky German cunt is too bland for you.

Thu, 11/12/2015 - 10:59 | 6781500 Anopheles
Anopheles's picture

You're confused.  

The Greeks voted against the banks and austerity, but they STILL WANT the BAILOUT MONEY.    What do you think these protests are all about?  They want MONEY, not austerity. 

Tell us, how can they get BOTH?    Hint, they CAN'T

Thu, 11/12/2015 - 14:30 | 6783012 Maestro Maestro
Maestro Maestro's picture

YOU are confused. The referendum result was NO to austerity. It had nothing to do with bailouts per se. The Greeks may want money/bailouts for themselves but the bailouts are for the BANKS ONLY and not for the Greeks. Of course the Greeks being the stupidest people on the planet right now, they don't get it, or anything else.

Again, the Greeks were not going to get anything regardless of what the referendum results were. The banks were going to get something or all of the bailout, regardless.

Stupid Greeks.

Thu, 11/12/2015 - 13:29 | 6782681 El Gringo
El Gringo's picture

There's no sense in bashing the Greeks seeing as the US put the coffee brown turd obama into office twice.  At least the Greek "leader" is actually Greek.  I find it highly unlikely that the zionist subversion is going to be dealt with by elections anyways.

Thu, 11/12/2015 - 09:51 | 6781489 NoWayJose
NoWayJose's picture

Dear Greeks - get in line behind the Muzzies and head for Germany!

Thu, 11/12/2015 - 09:56 | 6781504 NoWayJose
NoWayJose's picture

50,000 Greeks marching in the streets changes nothing. 50 football players at Muzzou threatening to not practice brings down the Mizzou leadership.

Thu, 11/12/2015 - 09:58 | 6781518 NoWayJose
NoWayJose's picture

Looks like the protesters can still afford gasoline for street fires, and material to make signs -- move along...

Thu, 11/12/2015 - 10:01 | 6781528 dark pools of soros
dark pools of soros's picture

if doctors do not want to work for their wage, there are plenty of people on the street that will take their job......

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