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And Now We Have An Event Horizon: G-Pap Expected To Resign Within Next 30 Minutes

Tyler Durden's picture


Or just in time for the ECB announcement, due in... 30 minutes. So, if Schrodinger's Pap doesn't resign, can we finally put this silliness behind us for at least one more day.

From BBC:

Greek Prime Minister George Papandreou is expected to offer his resignation within the next half-hour, sources in Athens have told the BBC.


Mr Papandreou will meet Greek President Karolos Papoulios immediately after an emergency cabinet meeting has finished. He is expected to offer a coalition government, with former Greek central banker Lucas Papademos at the helm.


Mr Papandreou himself would stand down, the BBC understands.


The Greek government was on the verge of collapse after several ministers said they did not support Mr Papandreou's plan for a referendum on the EU bailout.


The bailout would give the heavily indebted Greek government 130bn euros and a 50% write-off of its debts, in return for deeply unpopular austerity measures.


Mr Papandreou had called a vote of confidence for Friday.


However, he was faced with a parliamentary revolt after several of his MPs withheld their backing. Some called for early elections or a government of national unity instead.


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Thu, 11/03/2011 - 08:19 | 1840295 AngryGerman
AngryGerman's picture

Big news: G-pap to resume new position at ECB next Monday!

Thu, 11/03/2011 - 08:21 | 1840311 paarsons
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I knew it was gonna happen.  I predicted the outcome on my blog.

But everybody in the world kept calling me a cunt.

The Ivy League Mafia wins again.

What a pisser.

Thu, 11/03/2011 - 08:22 | 1840326 AngryGerman
AngryGerman's picture

funny shit your blog. dragon-lady. lol

Thu, 11/03/2011 - 08:32 | 1840379 paarsons
paarsons's picture

Thanks for the compliment, Angry German.

But didn't I tell you there would be tanks in the streets before the Greeks were allowed to vote on their own destiny?

Welcome to fascism.

I hate to be a cunt about it.

But let's face the truth.

I'm filled with with wisdom--even though I'm a fucking idiot.

Thu, 11/03/2011 - 08:34 | 1840396 Ancona
Ancona's picture

I agree with AG.

Funny shit that, you stupid cunt.


Thu, 11/03/2011 - 08:39 | 1840434 paarsons
paarsons's picture

BTW, Tyler is wrong.

Papa Doc getting kicked out isn't an Event Horizon.

The Event Horizon would have been if he was allowed to stay and give the Greeks their democratic rights.

But now that the globe has become controlled by corporatism, the voice of the people no longer matters.

What a sad state of affairs.

Democracy pushed aside for Friendly Fascism.

I could just shit in my hat.

Thu, 11/03/2011 - 08:43 | 1840485 Ancona
Ancona's picture

And now we have Obama over there to make damn sure he gets the result the bankers want. He's a good little bitch, isn't he!

Thu, 11/03/2011 - 08:50 | 1840538 SWRichmond
SWRichmond's picture

The Event Horizon would have been if he was allowed to stay and give the Greeks their democratic rights.

+1.  The current rumor is that the former head of the Greek central bank will be taking over as president.  No kidding.

Thu, 11/03/2011 - 08:51 | 1840567 GeneMarchbanks
GeneMarchbanks's picture

I get the feeling China is involved. Gold also involved.

Thu, 11/03/2011 - 08:50 | 1840542 GeneMarchbanks
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'But now that the globe has become controlled by corporatism, the voice of the people no longer matters.'

That's not true if your employer is a corporation, they speak for you so no need for a voice.

Thu, 11/03/2011 - 08:28 | 1840363 dynamictrader
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I hope this ain't a contarian indicator, with the blog up, just around the lows.

Thu, 11/03/2011 - 08:35 | 1840413 caerus
caerus's picture


Thu, 11/03/2011 - 08:22 | 1840313 sabra1
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betwix merkel's legs?

Thu, 11/03/2011 - 08:55 | 1840599 RichyRoo
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Lucas Demetrios Papademos (Greek: ?????? ?????????; born 11 October 1947 in Athens), is a Greek economist, former Vice President of the European Central Bank.

Papademos attended the Massachusetts Institute of Technology, gaining a degree in physics in 1970, a masters degree in electrical engineering in 1972, and a doctorate in economics, in 1978.

He followed an academic career at Columbia University, as well as serving as Senior Economist at the Federal Reserve Bank of Boston in 1980. He joined the Bank of Greece in 1985 as Chief Economist, rising to Deputy Governor in 1993 and Governor in 1994.

He was Vice President of the European Central Bank from 2002 to 2010.

He has been a member of the Trilateral Commission since 1998.

He is a member of the Academy of Athens, and a professor of the University of Athens.

He is likely to become head of a new government in November 2011. [1]

Thu, 11/03/2011 - 08:22 | 1840298 LuKOsro
LuKOsro's picture

No time for games Pap, you shall be excused. Bring in more meat!

Thu, 11/03/2011 - 08:20 | 1840299 Cursive
Cursive's picture

Bullish!  Risk on!

Thu, 11/03/2011 - 08:47 | 1840517 disabledvet
disabledvet's picture

actually futures are powering higher on the news. Not of the resignation of course. Does anyone realize that his really doesn't matter? As the one who "put Greece on the map" and love the fight they've put up against these retarded clowns...does it really matter?

Thu, 11/03/2011 - 08:20 | 1840300 Quintus
Quintus's picture

More unnamed sources?

Does nobody in Greece or Cannes have a name?  Meetings must be a nightmare.

Thu, 11/03/2011 - 08:25 | 1840345 AngryGerman
AngryGerman's picture

Does it matter? better they stay nameless, otherwise what should people name their children then? have not met any adolfs lately

Thu, 11/03/2011 - 08:20 | 1840301 grunk
grunk's picture

Pap smear.

Thu, 11/03/2011 - 08:20 | 1840303 wang (not verified)
wang's picture

Schrodinger's Pap


Thu, 11/03/2011 - 08:21 | 1840308 Sequitur
Sequitur's picture

G Pap isn't stupid. Referendum please. Let the people vote.

Thu, 11/03/2011 - 08:45 | 1840503 Reptil
Reptil's picture

The other option is austerity&revolution. No way in hell is austerity going to lift greece from the mud. Whoever thought that would really work, is delusional. (a whole bunch of them)
It's now very clear to any greek that they're excluded from the descision making process. Elections would mean the same thing; Greek vote no.

I really don't see anything else right now, or the Chinese must lease a couple of islands.

Thu, 11/03/2011 - 08:21 | 1840309 Theta_Burn
Theta_Burn's picture

Whew, and i thought my job was stressful.....

Thu, 11/03/2011 - 08:22 | 1840318 RichyRoo
RichyRoo's picture

"with former Greek central banker Lucas Papademos at the helm." - sounds like they are putting the banksters in charge, so my money is on G-Pap resigning

Thu, 11/03/2011 - 08:23 | 1840328 Sequitur
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We are witnessing the death of democracy, at the hands of the "heralded" Euro and bailouts for banks.

Thu, 11/03/2011 - 08:24 | 1840337 AngryGerman
AngryGerman's picture

The banks are dead!

Long live the banks!

Thu, 11/03/2011 - 08:26 | 1840350 EL INDIO
EL INDIO's picture

What democracy ?

Thu, 11/03/2011 - 08:31 | 1840375 john39
john39's picture

The death of the illusion of democracy.

Thu, 11/03/2011 - 08:22 | 1840323 saulysw
saulysw's picture

"...with former Greek central banker Lucas Papademos at the helm."


That does not sound good. Pappa Demon? The father demon? C'mon, that can't be his real name.

Thu, 11/03/2011 - 08:38 | 1840438 AngryGerman
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Papademos spells MAD APE S.O.P (standard operating procedure)!!

Thu, 11/03/2011 - 08:23 | 1840329 Börjesson
Börjesson's picture

Schrödinger's Pap, that's a classic! He's both alive and dead at the same time.

Thu, 11/03/2011 - 08:25 | 1840340 Overflow-admin
Overflow-admin's picture

Awesome metaphor!

Thu, 11/03/2011 - 08:27 | 1840353 wang (not verified)
wang's picture

or is it Schaeuble's Pap

Thu, 11/03/2011 - 08:24 | 1840335 xcehn
xcehn's picture

The banksters will be done!  Greeks need to string the bankster puppets up first, then their banksters.

Thu, 11/03/2011 - 08:24 | 1840339 GeneMarchbanks
GeneMarchbanks's picture

Democracy making a comeback?

Thu, 11/03/2011 - 08:31 | 1840374 GoldBricker
GoldBricker's picture

No, only brought on stage to take the blame.

Thu, 11/03/2011 - 08:25 | 1840343 Silverhog
Silverhog's picture

I think this means 30 minutes to the next rumor. Do we have to wait that long?

Thu, 11/03/2011 - 08:25 | 1840346 ruffian
ruffian's picture

you cant offer the people the choice and then take it back.........genie is out of the bottle........if greece has been frozen with strikes's just about to literally grind to a halt

Thu, 11/03/2011 - 08:26 | 1840348 TooBearish
TooBearish's picture


Thu, 11/03/2011 - 08:26 | 1840349 Overflow-admin
Overflow-admin's picture

Democracy making a blowback?

Thu, 11/03/2011 - 08:26 | 1840351 lapedochild
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How do you think this is going to go over in Greece? I expect riots like we've not seen before!

Thu, 11/03/2011 - 08:30 | 1840367 Tic tock
Tic tock's picture

Yeah, I don't see how Population are going to roll over on the basis of G-Pap leaving

Thu, 11/03/2011 - 08:27 | 1840356 kito
kito's picture

theres the reason for golds rise, along with everything else

Thu, 11/03/2011 - 08:28 | 1840358 ChickenTikka
ChickenTikka's picture

Hold on, I'm confused?  You guys are cheering for G-Pap's resignation even though all he really did was put the question to the people?  Who's side are you on now? 

Thu, 11/03/2011 - 08:51 | 1840559 disabledvet
disabledvet's picture

Obviously they're not on the side of the Greek people. The irony of course is gold is soaring on the news.

Thu, 11/03/2011 - 08:28 | 1840360 vegas
vegas's picture

OK honey, you can get out of that long Euro position now. Mission accomplished.

fucking 'tards in the marketplace will eat corn out of shit to chase a buck, er Euro.

Thu, 11/03/2011 - 08:28 | 1840361 JimBowie1958
JimBowie1958's picture

Seems the big banks have more pull as to what happens in Greece than their own PM does.

Is that a good thing?

I think it's a bad sign, but I am just a member of the hoi-polloi.

Thu, 11/03/2011 - 08:29 | 1840364 jmcadg
jmcadg's picture

Wow, G-Pap played a good game for the Greeks, then got fucked in the ass by Sarkosy, then Merkel got her dildo out and double teamed him.

G-Pap, your ass may hurt, but the Greek people won't be looking to lynch you. Can't say the same for your 'stab in the back' Fat fuck of a Finance Minister. He'll have a new one torn in the very near future.

Thu, 11/03/2011 - 08:37 | 1840385 wang (not verified)
wang's picture

no Gpap was playing as it turns out for himself - exit the hero and live in peace on your Greek Island

or alternatively (given that they're in Cannes) he attended a private screening of Gaddafi's autopsy 

Thu, 11/03/2011 - 08:35 | 1840410 AngryGerman
AngryGerman's picture

Why do you think his last name spells PARADE UPON????

Thu, 11/03/2011 - 08:30 | 1840372 Terminus C
Terminus C's picture

We are trading G-Pap for K-Pap

I suspect all will be well now that K-Pap is in charge, I mean... he's a banker and they know what's up right?

Thu, 11/03/2011 - 08:31 | 1840373 Dick Darlington
Dick Darlington's picture

How surprising that the undemocratic EU puts FORMER ECB GOVERNOR to head the puppet government. How convenient! Now that EU will conquer Greece and strip the nation from its soverignty without armed conflict everything will be golden again. Uh huh...

Thu, 11/03/2011 - 08:32 | 1840381 AngryGerman
AngryGerman's picture

What's an anagram for Papandreou?


Where is Papua? It's a province of New Guinea


G-Pap is the guinee pig for Euro state default!!!

Anyone listening inn Italy?

Thu, 11/03/2011 - 08:32 | 1840383 GoldBricker
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Germany's Der Spiegel reports that the resignation is in:,1518,795649,00.html

Next up for Pap: a corner office at Vampire Squid.

Thu, 11/03/2011 - 08:32 | 1840387 sumo
sumo's picture

Tim Geithner got him a job on Wall St.

Thu, 11/03/2011 - 08:34 | 1840398 AngryGerman
AngryGerman's picture

Even better:


Thu, 11/03/2011 - 08:34 | 1840397 John Law Lives
John Law Lives's picture

"The Greek government was on the verge of collapse after several ministers said they did not support Mr Papandreou's plan for a referendum on the EU bailout."

Maybe Sausage the riot dog needs to piss on these guy's tires.

You can't offer democracy to the Greek people and then take it away. I would watch out for very angry rioters if the referendum is pulled.

Thu, 11/03/2011 - 08:34 | 1840402 Irish66
Irish66's picture

Euro to break up!!

Thu, 11/03/2011 - 08:34 | 1840405 the not so migh...
the not so mighty maximiza's picture

No elections;  no referendums.. Europe, your Nazis and you just don't know it.

Thu, 11/03/2011 - 08:36 | 1840417 NuYawkFrankie
NuYawkFrankie's picture



There once was a Greek guy called G-Pap

Who encountered a rather large mishap,

Seems he called for a vote

Then by Europe was smote

Now, impaled on a gyro, he cant crap.

Thu, 11/03/2011 - 08:36 | 1840421 ChickenTikka
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BBC says its happening

Thu, 11/03/2011 - 08:37 | 1840424 somethingelse
somethingelse's picture

Gee,  I'm glad "The BBC understands"  because I'm lost

Thu, 11/03/2011 - 08:36 | 1840425 Kina
Kina's picture



I suspect he will have a reasonable chance of being assasinated fairly quickly given they all know what this is all about.

Thu, 11/03/2011 - 08:39 | 1840446 John Law Lives
John Law Lives's picture

It is no wonder people are so damn cynical. Government simply does not exist to serve the common people. It serves the elite.

Thu, 11/03/2011 - 08:38 | 1840437 trampstamp
trampstamp's picture

How the hell is this bullish?

Thu, 11/03/2011 - 08:43 | 1840487 sumo
sumo's picture

Everything is bullish. Some things are more bullish than others. Enjoy ... that's an order, Citizen.

Thu, 11/03/2011 - 08:42 | 1840477 K_I_T_T_Y
K_I_T_T_Y's picture

So is that a Pap test? (sorry bad joke, only for women and ginecologists....)

Thu, 11/03/2011 - 08:43 | 1840482 imaginalis
imaginalis's picture

The Greeks will go berserk. The Pap is about to hit the fan

Thu, 11/03/2011 - 08:46 | 1840513 Kina
Kina's picture

The Greeks will go berserk.


The Greeks only need to undertand that it is the banks behind all this. That wil be enough to put an end to the governments crimes against the people.

Thu, 11/03/2011 - 09:30 | 1840850 Calmyourself
Calmyourself's picture

Berserk with what exactly, harsh language?  Until they are hungry, Italians, Portuguese and Spaniards are hungry really gut wrenching hungry, nothing and I mean nothing changes.

Thu, 11/03/2011 - 08:43 | 1840486 Forgiven
Forgiven's picture

Referendum?  What referendum?  Funny how banksters always get what they want at the point of a gun.  He who pays the enforcer always wins.  Next!

Thu, 11/03/2011 - 08:44 | 1840492 Kina
Kina's picture

Total chaos in Greece and Europe on a tight rope that could snap will want to have all you money in stocks, because it makes sense.... for fuckwit govt and banker shills who love to tell all to pick up shiney pennies in front of that tsuanmi over there...


I predict that if there is a change of govt that killings will come within govt...and how militant are their military.

Thu, 11/03/2011 - 09:03 | 1840654 Rynak
Rynak's picture

I may be mixing up news here, but if i recall correctly, the greek military just a few weeks ago did say, that they will NOT side with the gov, in case the population tries to overthrow the gov.

Thu, 11/03/2011 - 09:28 | 1840861 Calmyourself
Calmyourself's picture

Which is why all the top brass just got cashiered and replaced with more squid like commanders..   Nothing changes, check my post above..

Thu, 11/03/2011 - 08:44 | 1840493 Negro Primero
Thu, 11/03/2011 - 08:44 | 1840494 Element
Element's picture

There's always an appropriate and prophetic Angels song for this circus

Thu, 11/03/2011 - 08:45 | 1840504 apberusdisvet
apberusdisvet's picture

NATO invasion to "protect the People"  in 6.....5......4......3.........

Thu, 11/03/2011 - 08:46 | 1840507 Iriestx
Iriestx's picture

Outstanding, the ECB has just been named the President of Greece.

Thu, 11/03/2011 - 08:46 | 1840508 ChickenTikka
ChickenTikka's picture

The disgusting Italian chick on CNBC says he's not resigning. 

His resignation means kicking the can, the market likes that these days.  So does gold. 

Thu, 11/03/2011 - 08:47 | 1840518 dallasgringo
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Welp, CNBC America just announced pending resignation. Tyler, always ahead of the curve.

Thu, 11/03/2011 - 08:49 | 1840532 ChickenTikka
ChickenTikka's picture

Tyler = HFT

Thu, 11/03/2011 - 08:49 | 1840534 SamAdams1234
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We're saved!!!!

Thu, 11/03/2011 - 08:51 | 1840566 owurkan
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easy guys, it's not over yet. You can follow live here:

Thu, 11/03/2011 - 08:54 | 1840591 disabledvet
disabledvet's picture


Thu, 11/03/2011 - 08:55 | 1840600 Iam_Silverman
Iam_Silverman's picture

Will all of the upper echelon armed forces leaders that were "asked" to resign now be reinstated?

Thu, 11/03/2011 - 09:08 | 1840687 johny2
johny2's picture

Slavery or grave, choice is as simple as ever for the sheeple.

Thu, 11/03/2011 - 09:13 | 1840723 drivenZ
drivenZ's picture

Reuters says....


BREAKING NEWS: Greek Prime Minister George Papandreou has not resigned: source from PM's office

Thu, 11/03/2011 - 09:27 | 1840851 Shizzmoney
Shizzmoney's picture

Does G-PAP get a golden parachute for bankrupting Greece?

Thu, 11/03/2011 - 13:26 | 1842250 MarcusLCrassus
MarcusLCrassus's picture

What did they do, tell him they were going to break his legs?  Bump off his family? 


Whatever threats they made must have been severe. 

Thu, 11/03/2011 - 19:19 | 1843531 Bruin4
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