And This Is What Greece Spends Its Bailout Money On

Tyler Durden's picture

We announced previously that as a result of the second "bailout" Greece would not see one penny, as it itself would be required to fund the creditor escrow package, in essence meaning that the flow of funds would from Greece to Europe. Yet somehow, a little money must have made its way to the Greek government. We now have a first look at just what it is that Greece is spending this newly panhandled cash on, courtesy of the WSJ...

h/t Clark

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redpill's picture

Oh for fucks sake, DEFAULT already!!

slaughterer's picture

Where is the address so I can immediately donate some money to Greece?  Oh, I already have...

I am more equal than others's picture

Some PR firm just scored big.  The got some junior associate to write that crap, send it via email to newspaper, and then charged them big-time all the while playing the second round of some PGA course.  Not bad for a day job.  No Amway sales job.

EnglishMajor's picture

Can I just make the check out to the "IMF"?  I don't want to have to take the time to write out "Greece".

BaBaBouy's picture

The EU Bailout fucks should Leave John Lennon Out of it !!!


Don't Go There, Piigs...

Mr Lennon Hendrix's picture

Tyler forgot the Friday Humor caption.

Liquid Courage's picture

Wonder if they'll be cutting a royalty cheque on that? Go get 'em, Yoko!

ilion's picture

I like the part about "tax paying citizens". This is turning out to be the comedy of the decade.

Check out the website of these lunatics:

About the guys behind this stunt:

  • We are a network of like-minded businesspeople, colleagues and friends who cannot be silent observers as the dialogue around Greece’s road to recovery deteriorates ....
  • We have absolutely no political aspirations and we do not serve nor promote any special interest, personal or professional

    So, they have no interest, yeah, right!

Stuck on Zero's picture

Make your check out to the: "Deutsche Submarine Werks" c/o GDR.

Doña K's picture


Spirit Of Truth's picture

Seriously, is Greece's situation any different than an individual's situation who is over their head in unmanageable credit card debts?  Such a person won't get any more credit UNTIL they default and go bankrupt.  Once the slate is wiped clean, solvency returns and there's no longer significant credit risk. The whole deal here is to REDUCE THE RISK and defaulting on old obligations is the way to go for Greece at this point since any new credit is exorbitantly expensive since there's little hope of any repayment given the existing debt burden.

Ghordius's picture

I agree with you. Though there are 300 Greek PMs that are still a bit undecided about this.

slewie the pi-rat's picture

even if they wake up, soon, dexia may beat them to the liquidationLine

belgium is kinda on the ropes here, sports fans!  will a kingdom fall over 21st-century bankster follies?

can you belive the EUR is @ 1.348?

bonds are up, again!  and the dollar is down 1/2 "cent" but not too bad, except against the EUR from what i see, imo

Ctrl + P + "promises" = <shrugs>

it's time to liquidate some fukingZombies!

now, who wants to be first? 

step right up!  don't be shy!  spin the wheel of Furtune!  Kenny Loggins - Lucky Lady+Angry Eyes

Rynak's picture

Here is my *bailout* (as opposed to... uh, is there such a thing as "bailIn"?) plan for *greece* (as opposed to global bankers):

1. Default

2. Leave the EMU

3. Done that? GOOD - now AFTER you are debt-free, print 50 billion euros, and give them the cash on top of the default, BUT their gov may not spend it however it wants.... instead, 50% is to be given to domestic market startups, and 50% is simply distributed to the population.

4. In going with the tradition of making "demands" for such "bailouts", that interfere with souvereignity....  the gov must reduce buerocracy WITHOUT axing services, and hold elections.


There, see? Bailouts, solidarity and interference with national souvereignity can actually be done in a useful way.

Hippocratic Oaf's picture

So the motherfuckers are resorting to begging. Only one way to go........down.

Fuck 'em

Arthor Bearing's picture

You know that ain't no shit and you're gettin lots of tit, Greeced lightening

Ghordius's picture

This is not begging. It's a complaint and a statement and a hope. If you belong to those who think that when someone is on his knees the only way is to beat them harder than I wish to encounter you in a dark alley.


Come on, Tyler, "this is what they spent it on" - how much does a website like that cost?

Drachma's picture

It's not a complaint and it's not a statement of hope, it's tripe served cold and slimy. The minds behind it are laughing in your face. It is written and delivered with the factitious friendliness of a sadistic psychopath, just before he impales you. Cost is not the issue Ghordo.


i-dog's picture

Is that you, Mario?

FFS! Of course it's begging. They had their chance to "do an Iceland" ... they had their chance to return the excess military purchases for a full refund ... they had their chance to give the bankstas a "take it or leave it" offer ... they had their chance to slash civil service headcounts and conditions in half ... they had their chance to hold a referendum on what the actual citizens who are being forced to pay for this "bailout" want. How many more "chances" do those unelected "leaders" want to subject their slaves to?????

The Euro-Anglo-American ponzi is blowing up. Every country with a massive unrepayable (except by rampant printing) debt has STOLEN the labour and resources of those countries without massive debts in order to swan around in gas-guzzling SUVs and supercars, then return home to 50" LCDs and granite benchtops to scoff down another truckload of food. It's fucking criminal and is coming to an end real soon now.

And now Greece is asking for one more go around!?! Well, they're not alone ... just the first in line.

BooMushroom's picture

It's not a website, it's a full-page ad in the WALL STREET FREAKIN' JOURNAL!! ahem..  Sorry about that.  But yeah, it cost more than a website.  About two hundred thousand dollars more.  Not to mention all the dough they paid some hotshot ad exec to delegate the writing of this ad to his cute junior intern with those incredibly large ... brains.

NidStyles's picture

I don't have any dark alley's, but you can come to my house and show me what you think. At least try to that is.

Ghordius's picture

Ok - I did not realize it's more than a website. WSJ is not my favourite venue, so it's an ad and Tyler expected all to have seen it.

And some people think psychos are behind this.

That this ad expresses in a very candid way the thoughts and feelings of people I talk with seems unbelievable for some. Ok, ok.

WTF? What is Your problem? Defending the right of someone else to say "Fuck 'em" to a whole country?

Azannoth's picture

and that is exactly what ... wait for it .... Jesus would do !

bruinjoe93's picture

Please keep Jesus out of this discussion.  This is the work of mad men.

The Alarmist's picture

He'd swim across the Rio Grande and take a job an American won't do.

Long-John-Silver's picture

It takes time to loot and pillage everything of any value. After it's all hauled away and every citizen has been raped, default will be allowed for the survivors.

BooMushroom's picture

And if all the banksters then left and ignored the country for a few generations, and left them with their soil and their crops and their rocks and goats and Acropolises, they'd still be better off than they are today.

battle axe's picture

That is just sad. Yes, just default and get it done.

falak pema's picture will end like Kent State! 

FubarNation's picture

Country should be renamed Fleece as in Fleece the sheeple.  Who comes up with this shit idea? Unfucking believable.

ArkansasAngie's picture

Yee Haaa ... capitalism at work.  Instead of making something they're advertising what a good job they're doing.

Kinda, sorta sounds like something Obama is doing ... give change another term to not happen

TradingJoe's picture

Maybe, just maybe, the peasents of the world, Greece certainly included, deserve what they have coming!

WonderDawg's picture

Right. Fucking peasants should bail out the banks and be damn grateful for the opportunity.

disabledvet's picture

Well it is the Age of Social Media. A newspaper? It needs to have The Song attached. And...why not post it here? Are WE no good enough??

Liquid Courage's picture

But you're still fucking peasants, as far as I can see.

A working class hero, is something to be.

If you want to be a martyr, then just follow me.

UP Forester's picture

I'd rather be a juke-box hero....

scatterbrains's picture

lol complete and total sell out of the people by their *leaders* 

Ben Bermonkey's picture

The number of families living on $2 or less per person per day for at least a month in the USA has more than doubled in 15 years to 1.46 million.


see here is the link

JPM Hater001's picture

This is sad.  The businesses of Greece paid for the ad.  The Union are killing the businesses, and they want more international understanding.

The country got where it is all together.  How about the Unions pay for an ad too.

falun bong's picture

yeah, any country with unions is a real mess. Like Germany, Norway, Sweden, Netherlands, Brazil, Chile, Australia, New Zealand, Canada, Denmark. Let's just give Capital ALL the fucking money and power and leave none for Labor. Wouldn't want any Socialism and handouts around here (unless of course you are a multi-billion dollar bank or oil company or arms manufacturer...then it's handouts galore).

Even Henry Ford understood that you have to leave a few crumbs for the workers...because they are the fucking customers, too. D'oh.

Sure there are public union abuses but they pale before the Socialism that banks and corps get

Ace Ventura's picture

I take your point, and concur that by comparison unions' piece of the action is much smaller than the banks. The problem is unions long ago ceased to represent the workers, and became political influence-peddling entities themselves.

In other words, they are in the same big-boys club as the banksters, but only as junior ranking members.

P.S. As for pubic sector unions, I still don't understand how it makes sense to allow them. I say this only because a major stakeholder in public union negotiations is the taxpayer, and that is the one entity which is not allowed a seat at the negotiating table. Kinda easy to negotiate favorable deals when both parties at the table are negotiating with someone else's money.

rosiescenario's picture

Sadly the unions are more interested in boosting their membership and paying their leaders than taking care of the rank and file. The unions should have been the most vehement in demanding that immigration laws be enforced and quotas reduced. It is their members who have suffered due to their inaction on that and the corporations who have benefited with cheaper labor.