All Fixed In Greece? Not So Fast

Tyler Durden's picture

That today democracy died in Greece is no surprise to anyone (see note from Greek reader below). What may be unexpected, however, is that despite expectations that any talk of a Referendum is over and done with, this is hardly the case. In essence, what G-Pap said in parliament today is that there will be no referendum if and only if there is an agreement from the main opposition party. Alas, as the following headlines from Reuters indicate, this now appears to be a non-starter.


But most importantly,


And so back to square one, as G-Pap's bluffing blows up in his face and any agreement is now contingent on his departure, something he has said will not happen.

And in other news, a take on G-Pap's speech from a Greek reader:

In this evening’s speech delivered by finance minister Venizelos, he highlighted ten points.


1: All necessary measures must be taken to receive the bailout from our partners and creditors. At the same time the bailout should be approved by a majority of 180 lawmakers in the 300 seat parliament.
2: Any plans of referendum should be scrapped.
3: A consensus with New Democracy (ND) is on the cards and the chance to reach a common deal with the main opposition party seems a reality.
4: Our banking system has to kept secured and guaranteed.
6: Greece must receive the 6th tranche before December 15.
7: Negotiations about the new bailout agreement with Troika need to be started as soon as possible.
8: “We need to work with our partners on the Public Sector Involvement to achieve, if possible, 100% participation in the debt haircut".
9: New bailout agreements need to be ready by January 12. Greek banks have raised 120 billion euros from European Central Bank so far.
10: The bottom line is that the Greek people should decide about all the above


Today democracy died in favor of the banks.

Alas, democracy died in favor of the banks long ago, way back in 1913.

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Rhone_Ranger's picture

The cold winds of winter are upon us!

TruthInSunshine's picture

I dedicate this song to G-Pap-smear, his hoocheys at Goldman Vampire Squid, The Bernank and his two dear friends, William Dudley & Brian Sack, and to Jamie Dimon, who now holds the official bagman (blessed by the wise men behind the fractional reserve wizadry curtains) title for the Banksters (ObaMao must kiss Dimon's ring on bended knee to be crowned thee TOTUS again):

Johnny Cash - God's Gonna Cut You Down


"The path of the righteous man is beset on all sides with the iniquities of the selfish and the tyranny of evil men. Blessed is he who in the name of charity and good will shepherds the weak through the valley of darkness, for he is truly his brother's keeper and the finder of lost children. And I will strike down upon those with great vengeance and with furious anger those who attempt to poison and destroy my brothers. And you will know that my name is the Lord when I lay my vengeance upon thee."

redpill's picture

G-Pip strikes again


There once was a man named G-Pip

His country was a sinking ship

With ouzo in hand

He could still hear the band

"I think I'll enjoy this trip!"


Nascent_Variable's picture

  “‘Fallen! Fallen is Babylon the Great!’
   She has become a dwelling for demons
and a haunt for every impure spirit,
   a haunt for every unclean bird,
   a haunt for every unclean and detestable animal. 

For all the nations have drunk
   the maddening wine of her adulteries.
The kings of the earth committed adultery with her,
   and the merchants of the earth grew rich from her excessive luxuries.”

Killer the Buzzard's picture

The Revelation, chapter 18, verses 2 and 3.

Killer the Buzzard's picture

From the latter part of Ezekiel, chapter 25.

Ned Zeppelin's picture

I thought that was from the Book Of Pulp Fiction, Jackson 25:7.

hunglow's picture

Now I want you to go in that bag and find my wallet. PUMPKIN Which one is it? JULES It's the one that says Bad Motherfucker on it.

Clueless Economist's picture

Does ZH really want to align themselves with these losers and misfits from OWS New York Chapter?

This is what I saw in Zuccotti park

Shvanztanz's picture

Well said. These people should go back to work...oh wait. 

redpill's picture

How many times are you going to spam that today?  And what is your point?  That some of the crowd are dirty hippies?  So what?


LFMayor's picture

So you won't mind then if they come over to your place and hang out in the yard once they're evicted from the park.

With apologies and h/t to Clint Eastwood and High Plains Drifter.

redpill's picture

Who has a yard in Manhattan?

s2man's picture

What is this subdomain?  They stole my moniker. I've been using it since they invented 3.5" floppies.  Should have copywrited it.  I only own the business name, s2ware.


fuu's picture

Looks about right for a 3rd world bazaar, which is just about all we are now.

barkingbill's picture

you´ve never seen a sleepingbag before?

Bring the Gold's picture

-40 and counting...Maybe you should go rally brownshirts elsewhere...anywhere. Some of us prefer even the folks in those photos over the folks they are protesting against. Glad to see you openly throwing in with Jamie Dimon and Blankfein, you know the guys being protested against.

Lednbrass's picture

And many would like a strong rope with a noose at each end, one for those the protestors are protesting and the other for the majority of the protestors. I have watched a ton of interviews with the OWS crowd and the overwhelming majority are clueless, inarticulate, stupid wannabe urban hipster oxygen thieves who want somebody else to give them something. Very few have any concept of how things work or why we are where we are and most seem to want to further empower an incompetent and corrupt central authority to make life fair for them. Interspersing demands for stuff with bleats about the failure of free market capitalism which we dont even have hardly gives me any respect for them.

While I have little use for the bank cartel leech on my neck these fleas and ticks trying to attach to my legs are little better, both aspire to take anything I have and award it to themselves. Its possible that they only show interviews of the most vapid idiots they can find, but it is certain that there are a very large number to choose from.

Bring the Gold's picture

Its possible that they only show interviews of the most vapid idiots they can find, but it is certain that there are a very large number to choose from.

 I gurantee that's exactly what is happening. The MSM did the exact same thing with the Teaparty movement to discredit it. Did they look for well spoken libertarians with a strong background in Austrian economics? No, they looked for half-wit red necks who were incoherent about everything except racism.

As it happens the average IQ is 100 which means half the population is below such any group of a thousand people is indeed likely to have quite a few idiots. This is true in every country in the world. Judging a group based on the lowest common denominator is very informative, if you are interested in learning about that group's lowest common denominator.

European's love to point to interviews with morons from whereversville and say all Americans are idiots.

Tick and leech isn't really a valid comparison. More like hangnail (OWS protestors) and a sucking chest wound from a .357 desert eagle (central banksters).

SamAdams1234's picture

All fixed in Europe:

Merkle, Sarkozey et al do a dance:


Newsboy's picture


I'm laughing too hard, and I can't even keep up anymore!

Buck Johnson's picture

Big time, this winter is going to be remembered.  Over here in the US they are playing it up that the Referendum is killed but when you read the other stuff outside the US, it's not.  The opposition around 2:00 pm New York time walked out after the leader gave a speech saying the G-Pap is a lier and blackmailer (I really would like to know more about this, truly), and that he told them he would resign as part of the deal in the speach he gave earlier but he didn't.  Things are breaking apart fast and they know this can't last to long.

kengland's picture

Shorts are just trapped. Freaking trapped. How do you exit when everyone want ahead of you? They sucked em in and now will shot them out a cannon. "He who sells first sells best" is now "he who buys last pays dearest"

i root for that fat jersey governor's picture

that is why I thought the market should be jumping much higher than this - something like 4%-5% on the news of ECB cut and referendum gone.

plus a collapse of the greek govt. and a reelection might be bullish for the market since there will be no referendum for sure and there is highly unlikely they will reject the bailout.

Big Ben's picture

My sense is that no Greek party is willing to agree to the deal because of the pain involved.

So if the Greek govt. falls (as seems likely), there will probably be lots of wrangling and possibly new elections. All the while, Greece is running out of money and the French and Germans have made it clear that they won't release the next aid tranche until the Greek government agrees to the aid package.

Even if a new government is formed in time, will it be any more willing to approve the aid package than GPap was? It appears to me that no Greek politician is likely to accept the package unless it has been approved in a referendum.

Collapse of the Greek govt. just means more chaos.

homersimpson's picture

Huh? Speak for yourself. The beauty of shorting the market is that one win (read: market dump) makes up for a lot of smaller losses (read: low volume meltups).

This is one short that won't be exiting the market anytime soon with this type of BS fueling the vapor run up

jdelano's picture

Haha--with the vix above twenty-five, anybody with money in the market is trapped.  

TruthInSunshine's picture

Buy GroupOn!

Stick with Cramer!

BAC looks poised for tremendous upside here!

(Last one of the equity casino is a rotten egg!)

Say those with OPM as they make it to the parking lot.

bdc63's picture

So, is this a Greek Tragedy or a Greek Comedy ... I knew I should have bought the Cliff's Notes ...


hedgeless_horseman's picture



It's Greek pornography (lot's of man fucking his fellow man in the ass).


Either referendum does not mean what I think it means, or 2 and 10 contradict each other.

2: Any plans of referendum should be scrapped.


10: The bottom line is that the Greek people should decide about all the above

GeneMarchbanks's picture

Good catch. Is it possible the 'opposition' is also a banker sponsored party?

A question all Greek citizens should ponder...

s2man's picture

Yeah, no. 10 contradicts "the day democracy died", too.

But its such a F'd up situation, what's the point in quibbling?  It will all change in an hour, anyway.

edotabin's picture


G-Pap will quit and a coalition government will pass everything by a large majority. Then they will herald the new era !!

This not only reconciles #2 and #10, it also squares away the opposition party leader's (completely phony) calls for talks to resume only after Gpap resigns.

There it is now fixed for all to have an accurate glimpse of the future.

As I have said before, only a revolution will stop the fucking clowns from lying, cheating and deceiving. Anything else, is just bits and bytes in cyberspace.

wang's picture
wang (not verified) bdc63 Nov 3, 2011 1:06 PM

neither, it's greek mythology

DaveyJones's picture


cept in this version, Hades runs ALL three worlds 

fyrebird's picture

One world government by any means possible, I suppose.

TruthInSunshine's picture

One world government by any means possible, I suppose.


The 7 easy steps to controlling the world without doing any physical, mental or any other kind of work (let's call it, oh, I don't know - The Red Shield Method):

1) Buy off/bribe/blackmail/extort/destroy any lawmaker/politician/military officer who poses a risk of thwarting your plans. *Very important first step.

2)  Create fiat using nothing more than an computer/ledger entry, backed by nothing of inherent value, that has legal recognition, and in fact, is a monopoly currency with no legally recognized alternatives.

3)  Circulate such fiat via loaning it out, charging interest upon it.

4) Successfully get nations (war is a fantastic motivator to borrow), business entities and individuals (food is a great motivator) to borrow said worthless fiat that was conjured from thin air, and pay interest, pledging their real, inherently valuable assets in exchange for said worthless fiat (i.e. meaning that their real, inherently valuable assets can be taken if the conditions that make it impossible for them to repay the worthless fiat are [intentionally] induced).

5) Set the rate of interest payable on the loans of fiat that was conjured from thin air, solely at their discretion.

6) Supply more of such fiat, or withdraw fiat, to/from the system, at their discretion, bringing about inflation or deflation.

7) During times of large scale loan defaults, on the repayment of the fiat that they conjured from thin air, backed by nothing of inherent value, seize the most valuable assets that exist on the planet, many of which mankind depends on for its very survival.

Ancona's picture

Aristophanes would be proud.

winter is coming's picture

Anybody watching comedy central....err I mean CNBC today...

qussl3's picture

Will Greece go away already, Italy and France and the European recession is much meatier fare.


larry david's picture

Today must be the day the market prices in the upcoming Greek default/defection from the Euro.  Without this horrible G-Pap in charge, we would surely be another +30 points on the ES (or more!)

jomama's picture

that opposition guy's tone is too negative.  how unprofessional.

tallen's picture

The market is quickly turning into a terrible soap opera.

NOTW777's picture

more good news - cnbc confirming the MF thing was just an "accounting glitch"

larry david's picture

And JEF is now green on the day.  Lmao.  Can't wait until JEF ultiimately blows up, and the fringe bloggers are blamed. 

hackerinspace's picture

The white zone is for loading and unloading only. If you have to load or unload, go to the white zone. You love it. It's a way of life bitches!

larry david's picture

I wish I could do business like Jeffreys. 

"hey this is Visa, calling about your overdue credit card bill."

"I already TOLD YOU, I am hedged on this credit card bill, my neighbor bought the CDS and so now he owes me for that bill and I am perfectly hedged.  Na na na na na."