"Adolf Merkel": Presenting The Greek Gratitude For The 50% Debt Haircut

Tyler Durden's picture

One would think that considering that their debt, or rather about 60% of it, was haircut over the past 2 days, the Greeks would be grateful to Germany who not only orchestrated this transaction over the vocal protests of her French vertically challenged counterpart, but effectively has pledged a substantial portion of German GDP to preserve not only the Greek welfare state but soon that of all the other European countries. One would be wrong.

The Mail reports:

Greeks angry at the fate of the euro are comparing the German government with the Nazis who occupied the country in the Second World War.


Newspaper cartoons have presented modern-day German officials dressed in Nazi uniform, and a street poster depicts Chancellor Angela Merkel dressed as an officer in Hitler’s regime accompanied with the words: ‘Public nuisance.’


She wears a swastika armband bearing the EU stars logo on the outside.


The backlash has been provoked by Germany’s role in driving through painful measures to stop Greece’s debt crisis from spiralling out of control

It gets worse:

Opposition parties blasted the landmark agreement, with conservatives warning it condemned the country to ‘nine more years of collapse and poverty’.


But it is the fury of ordinary Greeks which is raising eyebrows.


Greek government officials who agreed to the belt-tightening moves have been portrayed in cartoons giving the Nazi ‘Sieg Heil’ salute.


Greek finance minister Evangelos Venizelos is a regular target in the liberal daily Eleftherotypia and is often shown in cartoons making a Nazi salute.


One shows a German soldier watching over Venizelos as he barks at a Greek citizen to pay more taxes.


In another cartoon, a young Greek answers a German soldier asking why there were no names on a list of Greece’s newly formed labour reserve, saying: ‘They are empty as you exterminated the Communists, the Jews, the homosexuals, the gipsies and the crazies last time.’

And the most ominous sign is that we already are seeing animosity between ordinary people on both sides of the table, people who are part of the proverbial 99%, and who have nothing to do with the disgusting arrangements at the top whose only purpose is to enrich the already uber-rich.

And German visitors flocking to ancient tourist sites are being met with a hostile welcome from some Greeks.

If that last one isn't very concerning, re-read it enough times until it is.

And while geographical proximity between Greece and Germany may be a redeeming feature to what are already preambles to outright aggression, when will geography no longer matter: when the Greek "experiment" moves to Portugal? To Belgium? To France? Is it time to start plant more trees in the Ardennes forest?

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trav7777's picture

Greece should be shown the door and told to fuck off

redpill's picture

This should play GREAT on the streets of Berlin

Buckaroo Banzai's picture

No good deed goes unpunished!

dlmaniac's picture

See what happens when you keep giving in to socialists? They think they deserve every free lunch, and they go nuts at you if you dare take it away from them.

Manthong's picture


Women in uniform are so.. compelling.

Comay Mierda's picture

We need a Chairman Maobama picture

Mr Lennon Hendrix's picture

I've been comparing her to Adolf for over a year now, so this is a proud moment for me.

reload's picture

Whatever next, Senor Berlusconi dressed up as Mussolini?

And all just in time for the Christmas party season.

Ahmeexnal's picture


Europe is holding out the begging bowl to China in an effort to keep the rescue package for the single currency alive.

In a clear sign of how the balance of world power has tipped towards the East, EU leaders hope China can be persuaded to hand over huge sums to help bail out the eurozone.

In a further embarrassment, it emerged that the one trillion euro bailout fund announced in the early hours of yesterday does not really exist.

Mr Lennon Hendrix's picture

So China will print more to buy the freshly printed from Europe, while printing more to buy the freshly printed from the US.....

Hmmmmm......something is wrong here.  But what?

redpill's picture

"Come on in China, the (nearly boiling) water is fine!" said the Frog.

nope-1004's picture

China.... LOL... the savior.

STOCKS rose like mad yesterday on news that the European sovereign debt crisis (read: "bank solvency crisis") had been solved by a Bucket (bail out fund) worth 250 bn. Euros that will be leveraged 4 or 5 times, producing an equivalent one trillion euros.

Did I just write that? Do this chuckleheads actually believe that they by leverage they will get OUT of the miry swamp that leverage got them INTO?

Ahhhh, it doesn't end there. Where will the money come from to fill up the bucket so the Bucket can buy the bad debts from the banks? Well, they'll have to BORROW it, which means they go into an already sluggish capital market and throw huge new demands on it and crowd out business borrowers and make credit tighter still. Great idea.

Maybe the Chinese will save them? Yeah, that's it, Europe will trick the Chinese into buying their rotten bonds backed by rotten sovereign debt, and the Chinese won't notice that at all, right? Yeah, right, those Chinese are notoriously bad with numbers and business.

This is fun, but I won't prolong it because it's too easy. It's like shooting holes in Swiss cheese -- no challenge. It's enough to make me stop calling myself a natural born fool. These European fools are giving fooldom a bad name.

End result of this deal will be LOTS more Euros born into circulation, which for gold and silver will be like pouring liquid manure on kudzu. Y'all know how to plant kudzu, right? Drop it and run.

This "deal" is nothing but a public relations scarecrow. If it didn't have Sarcophagus and Ferkel holding up its arms and kicking its legs along, it would flop dead on its face. And will, before too long.

- Franklin Saunders

DoChenRollingBearing's picture

Great article Tyler.

Great comments to ALL above, who ALL got a green!

caconhma's picture

One must understand the German mentality: Germans love to be loved regardless what.

Remember ALL major german political parties have voted to keep EU going and Greece getting their welfare checks forever.

IMHO, Greece deserved their bailout money and 50%-debt cut. After all, only Greece people went on general stricks and were fighting their police. It is vital to fight for your rights!

walküre's picture

Nobody loves Germans. And that's ok. We know that too.

prole's picture

Ich lieb dich immer noch so sehr...

gnomon's picture

It is better to be respected (and solvent) than loved any day.

TK7936's picture

This German is OVER Love. Love is a Fiat Currency now.

Matt's picture

why would they need to print? couldn't they just use their $1 Trillion+ USD reserves to buy Euro bonds?

margaris's picture

well, with every USD they sell to buy EUR, they would lower the value of the remaining USD in their hands.

giant fx operations like that always create more imbalance... like when all passengers in a small ship move to the same side.

thats why every central bank likes to create its own ammunition.
they need some form of independence / counterweight

Element's picture

  it emerged that the one trillion euro bailout fund announced in the early hours of yesterday does not really exist.


hahahas ... this is easily the funniest show on the internet ... no matter how silly is gets ...  can always get sillier ... it never disappoints ... just love it ... everyday it gets better.

SamAdams1234's picture

Didn't a young prince do this first?

derDeutsche's picture

Verdammt sie wurde enttarnt !!!

Element's picture

Merkle is quite tame compare to Hillary though.

GeezerGeek's picture

Both rank right up there with Janet Reno.

Janet Napolitano, however, takes first place in my opinion. If I had even one tenth the artistic ability of certain other denizens of ZH I would create an image of Janet, eye sockets darkened, with official emblems on the lapels. Both would mimic the old SS motif, looking a bit like lightning bolts. On one side would be "See Something" and on the other side would be "Say Something". Gotta go...I hear someone knocking on my door.

dogbreath's picture

they're all a buncha dykes

Cpl Hicks's picture

Maybe Barney Frank can lend him a riding crop. The long-stemmed rose is way too effeminant for our virile Barry.

LeonardoFibonacci's picture

Adolf Merkel?  Why are people constantly insulting my Fuhrer Hitler.  Hitler knew how to handle the finances of Germany and got straight to the root of the financial problem and eliminating it.

LasVegasDave's picture

Nice to see another liberty lover on ZH

Piranhanoia's picture

And quite mad too. Think it thinks like it's fellow man?

NotApplicable's picture

Certainly acts like a typical Canadian, eh?

HeNateMe's picture

Ah yes.  The good old mass murder strategy to jumpstart an economy.  Makes all your troubles go away.

NoClueSneaker's picture

Pssst, you have to say Defence from E.T.s. Paul Krugman is polite, be nice and introduce politically correct "defence " - from Islamist, Chinese, Liberals and ZeroHedgers.

In the first place - defence from the Ayatollah Ron Paul ....

GeezerGeek's picture

Mass murder could potentially provide plenty of shovel ready jobs. That'd be good for the economy.

Mr Lennon Hendrix's picture

Gold is not necessary.  I have no interest in gold.  We'll build a solid state, without an ounce of gold behind it.  Anyone who sells above the set prices, let them be marched off to a concentration camp.  That's the bastion of money.

-Adolf Hitler

mjk0259's picture

Knew how to handle Greece too. Took a couple days to conquer it and steal all their gold.

Kayman's picture

Hitler knew how to handle the finances of Germany

In finance and economics Hitler was an idiot.  The German finance ministry, however, were keen at borrowing and printing.

And when Revenues were a little light, then stealing, plundering and invading were always available.


hunglow's picture

Yes, but notice size of underware.

Winston Smith 2009's picture

"Oo.. Women in uniform are so.. compelling."

Har!  Yeah, I'll bet she's a real "nazi" girl in bed.

Bruin4's picture

The Greeks just realized that their pensions had to take the haircut not the banks. wait till this gets out they will be burning German tourists in the streets

Oracle of Kypseli's picture

BTW: The direct translation of the poster is "Public Danger" not merely a nuisance. I guess google translate is biased.

Oracle of Kypseli's picture

Greece got something on their independence day. Symbolism over substance all over again. The Greeks will be milking the cow (Merkel) until she runs out of hard working German people's milk.

Warning to Germans. Vote her out. Time to revolt and return to the deutschmark.

optimator's picture

Depends on what Porsch their driving, Cayenne or King Tiger -- sorry, meant Leopard.

GoinFawr's picture

@dlmaniac et aliae

See what happens if you just keep green arrowing  the wind-up blowhards like duhlmaniac who spout stupid rote ?  They think they deserve the accolades, even though they don't actually know their assholes from a tea towel holder, and they'll go nutz if you present them with reality and try to take away their self delusions:


I want to know what it is going to take to trigger a credit event for CDS on US bonds

Greece should just pull an Iceland


Ponzi Unit's picture

"I want to know what it is going to take to trigger a credit event for CDS on US bonds."


We have passed through the looking glass. Now there are no defaults, no triggers, no consequences. The rules of the game clearly state -- in invisible ink -- that the rules may change at any moment to suit the needs of the plutocratic cartel.

Onward through the fog!