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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AngryGerman's picture

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

paarsons's picture


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.

AngryGerman's picture

funny shit your blog. dragon-lady. lol

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.

Ancona's picture

I agree with AG.

Funny shit that, you stupid cunt.


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.

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!

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.

GeneMarchbanks's picture

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

GeneMarchbanks's picture

'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.

dynamictrader's picture

I hope this ain't a contarian indicator, with the blog up, just around the lows.

RichyRoo's picture

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]

LuKOsro's picture

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

Cursive's picture

Bullish!  Risk on!

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?

Quintus's picture

More unnamed sources?

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

AngryGerman's picture

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

wang's picture
wang (not verified) Nov 3, 2011 7:20 AM

Schrodinger's Pap


Sequitur's picture

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

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.

Theta_Burn's picture

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

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

Sequitur's picture

We are witnessing the death of democracy, at the hands of the "heralded" Euro and bailouts for banks.

AngryGerman's picture

The banks are dead!

Long live the banks!

john39's picture

The death of the illusion of democracy.

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.

AngryGerman's picture

Papademos spells MAD APE S.O.P (standard operating procedure)!!

Börjesson's picture

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

wang's picture
wang (not verified) Börjesson Nov 3, 2011 7:27 AM

or is it Schaeuble's Pap

xcehn's picture

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

GeneMarchbanks's picture

Democracy making a comeback?

GoldBricker's picture

No, only brought on stage to take the blame.

Silverhog's picture

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

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

TooBearish's picture


Overflow-admin's picture

Democracy making a blowback?

lapedochild's picture

How do you think this is going to go over in Greece? I expect riots like we've not seen before!

Tic tock's picture

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

kito's picture

theres the reason for golds rise, along with everything else

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? 

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.

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.

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.

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.