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Athens - The Morning After: 48 Buildings On Fire, 150 Looted, Hundreds Arrested

Tyler Durden's picture


There is a silver lining to Athens' ever uglier transition to a third world country: the massive GDP boost that awaits it as it sets off to fix broken windows and burned down buildings. In fact, we eagerly await Krugman's OpEd praising some of the more recent developments out of Greece in the past 48 hours. Granted, the country will need to get even more bailout funding from the Troika for said GDP boost to occur, but who cares about details anymore.

From Athens News:

Police said 150 shops were looted in the capital and 48 buildings set ablaze. Some 100 people – including 68 police – were wounded and 130 detained, a police official said on Monday.
There was also violence in cities across the country, including Thessaloniki and the islands of Corfu and Crete.
Athenians were shocked at the burnt buildings that included the neoclassical home to the Attikon cinema dating from 1870.
"We are all very angry with these measures but this is not the way out," said Dimitris Hatzichristos, 30, a public sector worker surveying the debris.
Altogether 199 of the 300 lawmakers backed the controversial bill. The 43 who rebelled were immediately expelled by their parties, Pasok and New Democracy.
"Night of terror inside and outside the parliament," conservative daily Eleftheros Typos wrote on its front page.
Asian shares and the euro gained modestly on Monday and MSCI's broadest index of Asia Pacific shares outside Japan edged up as much as 0.3 percent.

Some of the more vivid images from this morning's cleanup crew:

Athenians swept rocks and broken glass from the streets of their city on Monday after a night of violence that gave MPs a taste of the challenge they face in implementing a deeply unpopular austerity bill demanded by the troika.


Firefighters doused the smouldering remains of several buildings, set ablaze by hooded youths during protests against the package of pay, pension and job cuts adopted by parliament just after midnight, on Monday morning, after 10 hours of debate.

And while we already knew that democracy is only that on paper, and until someone disagrees, following the expuslion of 43 deputies from their respective parties for disagreeing with the ongoing sacking of Greece by Europes' banks, here are potential next steps.

"Enough is enough!" said 89-year-old Manolis Glezos, one of country’s most famous leftists. "They have no idea what an uprising by the Greek people means. And the Greek people, regardless of ideology, have risen."  Glezos is a national hero for sneaking up the Acropolis at night in 1941 and tearing down a Nazi flag from under the noses of the German occupiers, raising the morale of Athens residents.

Odd: the Greeks managed to stand up to the Nazis, yet when it comes to standing up to Europe's banker cartel, the best the "risen" Greek people can come up with is looting and burning down their own country? Oh well, in the scramble for the last money good asset yet to be pillaged, all is fair in love and rehypothecation.

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Mon, 02/13/2012 - 09:56 | 2153183 Colonial Intent
Colonial Intent's picture

WW2 Hero Manolis Glezos sprayed with teargas by Greek riot police.


Mon, 02/13/2012 - 11:41 | 2153557 greyghost
greyghost's picture

yes, mr. glezos is still a communist agitator after all these years. what with the soviet stamp to honor his actions against the nazis. and all that chatter in a previous post about fascist and nazis and communist and maoist, when they are all the same "shit" in different buckets. every single one will put a bullet in your head when you disagree with them. should i give a rats ass whether the communist state owns my cow, or whether the nazi/corporate state tells me what to do with the cow i own. that is like asking me whether i want to be shot by a tiger tank or a stalin tank...oh see i have a choice after all.....how sweet.

Mon, 02/13/2012 - 12:13 | 2153693 Colonial Intent
Colonial Intent's picture

In response:

Are you demeaning his act by suggesting that because he got a soviet stamp approving it the act itself is diminished in honorific value?

At least he has a values system that places people above profit, do you?

What did you do in the war daddy-O?

You own a cow?

Can you choose to stop building tanks please?


Mon, 02/13/2012 - 09:10 | 2153036 Jacks Cold Sweat
Jacks Cold Sweat's picture

..Looks like a black swan to me  >.<

Mon, 02/13/2012 - 09:14 | 2153050 whoopsing
whoopsing's picture

Blackened swan...Mmmm tasty

Mon, 02/13/2012 - 09:51 | 2153160 Al Gorerhythm
Al Gorerhythm's picture

Bit tough and gamey. I prefer roasted pigs.

Substitute capitals if you like. Either way's fine.

Mon, 02/13/2012 - 11:40 | 2153549 Dukepinewood69
Dukepinewood69's picture

Being from down in N.C.,I prefer my pigs smoked...mmmmm are not the piigs now starting to "smoke" as well?

Mon, 02/13/2012 - 09:14 | 2153052 Element
Element's picture

um ... anyone else think it's odd that Greeks are torching Greek employer's businesses?

Fifth column?

Mon, 02/13/2012 - 09:14 | 2153058 Fantasy Planet
Fantasy Planet's picture

Long on Marshmellows. 

Mon, 02/13/2012 - 09:15 | 2153062 Bartanist
Bartanist's picture

The Greek government had two choices.

1. To default/rebel and try to strike out on their own (finding new allies amongst the weaker countries) with a new internal country currency that would not be accepted in global markets.

2. Or, become a beaten slave and allow them to be used as an example to politicians everywhere, what happens when you don't do as the masters command. If you defy the masters, the people will rise and destroy your country. *I wonder who "the people" are. Are they agents provacateur?)

It does not seem as if Number 1. was ever considered because the toadies in charge serve those who wanted Greece to burn and serve as an example. Austerity as a means to throw off the yoke was never presented as an option... only austerity and more and increasing oppression. Burning is the logical conclusion when there is no hope, only fear and despair.

Mon, 02/13/2012 - 09:15 | 2153063 GeneMarchbanks
GeneMarchbanks's picture

'Odd: the Greek's managed to stand up to the Nazis and yet when it comes to standing up to Europe's bankers, the best the "risen" Greek people can come up with is looting and burning down their own country. Oh well, in the scramble for the last money good asset yet to be pillaged, all is fair it appears.'

Not really sure how that is odd. It seems if it were their country they should be able to exercise some control over the political process, no? Oh, well, I'm sure Forbes will think twice about buying there now.

Mon, 02/13/2012 - 09:16 | 2153066 UGrev
UGrev's picture

48 buildings on fire.. and people STILL got arrested? wtf Athens! I thought you were going to fix the Pig problem..  heh.. you see what I did there? 

Mon, 02/13/2012 - 09:16 | 2153067 Cursive
Cursive's picture

When you treat people like chattel, you will get bloody rebellion.

Mon, 02/13/2012 - 09:17 | 2153071 Sudden Debt
Sudden Debt's picture

Just give them some nukes and speed up the demolition!


Mon, 02/13/2012 - 09:18 | 2153075 Serfs Up
Serfs Up's picture

More Greek ruins to visit.

This is good news for the Greek tourism revival story.


Mon, 02/13/2012 - 09:22 | 2153087 flyonmywall
flyonmywall's picture

When in doubt, burn it down. In effect, that's what the banksters are doing anyway, to people's lives and dreams for the future. Screw it all.


Mon, 02/13/2012 - 09:27 | 2153102 Seasmoke
Seasmoke's picture

100 people hurt, 68 0f them police.................seems like a good night

Mon, 02/13/2012 - 09:57 | 2153187 Arrowhead
Arrowhead's picture

Don't the police have like a gazillion archers to put down this upheaval?

Mon, 02/13/2012 - 09:34 | 2153111 Element
Element's picture

Granted, the country will need to get even more bailout funding from the Troika for said GDP boost to occur, but who cares about details anymore.


Nonsense!  Just the contrary, if there is enough damage it will reach a critical-mass and recovery will take hold of its own volition.  All that's wrong here is that not enough damage has occurred yet.  As an economist it's perfectly clear that they need to up the ante here and really smoke that bitch.  Unfortunately, the Govt still haven't figured-out that with each fire it brings them closer and closer to sustained recovery and new investment.  If they had a sound understanding of economics they'd already mercifully be in there with F-16s and 155mm artillery!  Don't believe me?  Just look at Beirut today!  This is why they pay me the big bucks.

- Paul

Mon, 02/13/2012 - 09:30 | 2153112 max2205
max2205's picture

See something say something...fail

Mon, 02/13/2012 - 09:34 | 2153120 engineertheeconomy
engineertheeconomy's picture

See something say something throw a molotov coctail at them

Mon, 02/13/2012 - 09:37 | 2153132 GetZeeGold
GetZeeGold's picture


The bad news is they're out of tear gas.......the good news is they still have gasoline.



Mon, 02/13/2012 - 09:32 | 2153116 engineertheeconomy
engineertheeconomy's picture

 Usury is unpayable.

Mon, 02/13/2012 - 09:33 | 2153117 Iam_Silverman
Iam_Silverman's picture

Surely they could see this coming - we've been warning them for years not to cut funding to the midnight basketball sessions!

Mon, 02/13/2012 - 09:36 | 2153121 Northeaster
Northeaster's picture

"the Greeks managed to stand up to the Nazis, yet when it comes to standing up to Europe's banker cartel" -

Having lived there a couple years decades ago, anyone remember "November 17"? They were picking us (Americans) off all the time. It wasn't until the bombing at "Bobby's" (patronized by mostly military) that they were finally reigned in shortly after. 

Ironic, that people around the world will revolt for religious or political purposes, but when those same politicians enable a "Banking Cartel" to literally steal from your own children, they do relatively nothing. I mean, those bankers and politicians are still alive aren't they? What do they care if a building gets burnt to the ground?

Just like here in the States, except Americans have become better spectators.

Mon, 02/13/2012 - 09:51 | 2153164 unrulian
unrulian's picture

Just like here in the States, except Americans have become better spectators.


no they haven't, they are not even spectators...auction hunters and the cardasians are their spectator sports

Mon, 02/13/2012 - 09:42 | 2153136 LouisDega
LouisDega's picture

Dow futes up 79. Looks like another glorious day for Apple. Speaking of Apple, Will i be alive for IPad 3 or should i buy the Ipad 2 today with my Timmah refund?

Mon, 02/13/2012 - 09:43 | 2153144 Belarusian Bull
Belarusian Bull's picture


Mon, 02/13/2012 - 10:06 | 2153150 ugmug
ugmug's picture

Keynesianism of the Auto World -

.... The more you spend on gas the larger the engine output will become........

Krugman hasn't figured out that inflating intangible assets will never be, and can never be, recognized by any 'real world' economic process.

As the value of the gas goes up so does the value of the exhaust, with no net gain in engine output.


Mon, 02/13/2012 - 09:51 | 2153163 Colonial Intent
Colonial Intent's picture

"the Greeks managed to stand up to the Nazis, yet when it comes to standing up to Europe's banker cartel"

Tyler Durden, The armchair activist.

(He likes to watch, rather than participate)

WW2 Hero Manolis Glezos sprayed with teargas by Greek riot police. http://garizo.blogspot.com/2010/03/blog-post_5605.html
On May 30, 1941, he and Apotolos Santas  climbed on top of the Acropolis  and tore down the Nazi Swastika flag , which had been there since April 27, 1941, when the Nazi forces had entered Athens.

Glezos was arrested by the Nazi's on March 24, 1942, and he was subjected to imprisonment and torture. He was arrested again on April 21, 1943 by the Italian occupation forces and spent three months in jail. In February 7, 1944 he was arrested yet again, this time by Greek Nazi collaborators. He spent another seven and a half months in jail, until he finally escaped on September 21 of the same year.

Better luck next time tyler:-)

Mon, 02/13/2012 - 10:18 | 2153238 oldman
oldman's picture

Hey Colonial,

The 'Tylers' are all dead

these dudes are the tilers

don't disturb them with facts

all youi'll get will be the red button

This used to be a great site, but this populist shit they're putting up so often now

just attracts more rednecks

the site is less interesting and many of the brighter guys do not make comments any longer

There has been a definite shift in these last six months

almost like a government takeover----sort of like so many other sites

it's so frustrating to watch humans      om


Mon, 02/13/2012 - 10:42 | 2153338 Colonial Intent
Colonial Intent's picture


It's not their emotional factless rants I mind (they give me giggles), its thinking their readers are stupid enough to believe them, their economics isnt too bad apart from the gold BS, its their lack of knowledge/understanding regarding history and politics that bug me.

Its almost as if they are commercializing the site in order to profit from it.....

Shurely their ad revenue cant be that high?

Mon, 02/13/2012 - 12:34 | 2153815 MobBarley
MobBarley's picture

a bunch of shitheads from a god like production us air force / church of satan psyops website

have lately invaded zero hedge degrading the overall level of posts.

These white trash crackers are similiar to the youth generation core mandate of 'go sampson'

but with a slightly more selfish 'vampiric' magickal thinking central concept.

 While the youth intend to deprive the nwo of power by destroying everything completely

for entirely unselfish purposes, the nwo types are trying to use a slow encroachment destruction

to envelop with tyranical oppresion in order to yeild a utopian '1000 year golden dawn age'

Funny thing about those utopian dreams, they never work out.


Mon, 02/13/2012 - 09:51 | 2153165 proLiberty
proLiberty's picture

Reality: only 100 jelly beans in the jar.

Keynesians: We 'leveraged' the jelly beans 20x, and printed 2,000 jelly bean vouchers to be handed out to people with 'urgent unmet needs' for jelly beans.  This will solve the jelly bean shortage.

Austerity measures:  We can't service the debt of 2,000 jelly beans.  We must cut back to 1,500!

Dependent Citizen:  I'm mad as hell that you are cutting my pension.  I demand you create more vouchers.


Mon, 02/13/2012 - 09:55 | 2153177 engineertheeconomy
engineertheeconomy's picture


Mon, 02/13/2012 - 10:11 | 2153226 ironmace
ironmace's picture

and they ate them.

Mon, 02/13/2012 - 12:40 | 2153839 MobBarley
MobBarley's picture

Actually, the banker (kids) are standing at the edge of the jelly bean field, along with all 7 billion other kids, saying they

own the jelly beans on paper.  How's this going to turn out?

I just hope their is enough jelly beans for all.


Mon, 02/13/2012 - 09:54 | 2153174 Broken Window
Broken Window's picture

Bullish on glass manufacturing!

Mon, 02/13/2012 - 09:58 | 2153188 Gamma735
Gamma735's picture

Disco inferno!  Another dance party tonight!

Mon, 02/13/2012 - 09:59 | 2153195 CharlesH
CharlesH's picture

Even the dog on the picture is pissed. They need 2 men to hold the leash.

Mon, 02/13/2012 - 10:14 | 2153233 ironmace
ironmace's picture


Mon, 02/13/2012 - 10:19 | 2153240 Pangasius
Pangasius's picture

They obviously feel that it IS NOT their country anymore. Don't you ever feel that way about the great LIE that is the UNITED STATES OF AMERICA?!!?


Mon, 02/13/2012 - 10:27 | 2153254 Use of Weapons
Use of Weapons's picture

Video of some of the events last night:

#1 Motorbike Police driving through peaceful crowd... crashes into lamp-post

#2 Protesters throwing bar stools / tables into the road to block said police

#3 Extensive use of flash-bangs... at 2:00 exactly, what looks to be a ricochet bounces back & sets fire to / damages a car

#4 Motorbike police return from a largely pointless sortie exactly the way they've come


Video of when the police started using tear gas: 2:44 is pretty damning


Mon, 02/13/2012 - 10:31 | 2153273 hazek
hazek's picture

The reason for these random outbursts of violence, looting and rioting is fairly simply. The people know they have been conned and are angry about it but compared to the Nazis where the enemy was very obvious they haven't been taught the knowledge necessary to understand who/what exactly is their enemy this time around.


I'm confident if people understood it's the system of fiat paper money and having a central bank that is at fault, that's who they'd be violent against and loot and riot in front.

Mon, 02/13/2012 - 10:39 | 2153314 jtlien
jtlien's picture

To paraphrase Nixon,   We are all Grecians now.

But like Nixon converting to Keynesianism, this is not a good thing.


Mon, 02/13/2012 - 10:56 | 2153383 the tower
the tower's picture

'Odd: the Greek's managed to stand up to the Nazis and yet when it comes to standing up to Europe's bankers, the best the "risen" Greek people can come up with is looting and burning down their own country.'


Nazis were wearing a swastika on their arm, it's more difficult to recognize a banker.


It's always the looters that grab their chance, but it shows the average Greek is still civilized about it all. Until the cuts really hit home. And then the bankers will be known. And not just in Greece.

Mon, 02/13/2012 - 11:39 | 2153550 michael_engineer
michael_engineer's picture

Regarding the disaster capitalism delusion :


On the upslope of the Hubbert curve it kind of made sense to think of disaster capitalism in a positive way.  Broken stuff got fixed and generated GDP (but the disaster capitalism train of thought worked best if it wasn't YOUR stuff getting broken).  The negative affects of the disasters were masked by them happening on the upslope of the Hubbert curve where overall positive growth made the system as a whole bigger and better, even in spite of disaster setbacks in some places.   But on the downslope of the curve, disaster setbacks may not get fixed at all as there is little surplus if any to take from other needs.  Just look at Haiti as an example. 

Mon, 02/13/2012 - 22:32 | 2156216 Cathartes Aura
Cathartes Aura's picture

Haiti, home of the fourth largest US embassy in the world? 



  1. baghdad
  2. china
  3. berlin

that Haiti?

yeah, they'll get more occupation, more "disaster setbacks" with little "surplus" -

ever wonder why. . .?

Mon, 02/13/2012 - 12:05 | 2153650 Fix It Again Timmy
Fix It Again Timmy's picture

Don't burn, damnit!  Barrett!



Mon, 02/13/2012 - 13:48 | 2154111 malek
malek's picture

The 43 [lawmakers] who rebelled [against the controversial bill] were immediately expelled by their parties, Pasok and New Democracy.

Finally, a sign of functioning democracy!   /sarc

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