Did Papandreou Just Get The Worst Possible News?

Tyler Durden's picture

Did everyone's favorite pathologically lying Prime Minister finally get the long overdue bad news? After yesterday Bloomberg released the following succinct statement... "Greek Prime Minister George Papandreou will meet with International Monetary Fund Managing Director Christine Lagarde in Washington on Sept. 20, according to an e-mailed statement from the premier’s office in Athens. On the same day, Papandreou will also meet with U.S. Treasury Secretary Timothy F. Geithner, according to the statement. Papandreou will visit New York and Washington from Sept. 18 through to Sept. 23, and will speak at the United Nations General Assembly, the email said." BBC News now follows it up with.... "Greek Prime Minister George Papandreou has cancelled a visit to the US because of the seriousness of the country's debt crisis, Greek media reported, quoting government sources. State TV said he decided to return home after consultations with Finance Minister Evangelos Venizelos. Mr Papandreou planned to attend the UN General Assembly and IMF meetings. The decision comes a day after eurozone ministers delayed a decision over debt-ridden Greece's next bailout loan." Having acted like a petulant child most of his political career, did G-Pap just pull the final act and "retaliate" at the IMF and the US for snubbing him in the only way he knows - by refusing to grant Timmy G and Lagarde an audience? In the meantime, Europe believes it is ready to cut the cord with Greece...

Here is the official statement.

Never a dull weekend.

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Prescient_Point's picture

Hope this weekend turns out to better than the last one... I have high hopes on you greece ;)

DeadFred's picture

It seems he understands one of the cardinal rules of governing, don't leave the country when your military is a tad irritated with you. Coup bitchez!

nope-1004's picture

I can't believe anyone would come to the US and the sole purpose would be to talk with Geithner.  That is a complete waste of time.

I'd let Geithner beg to me over the phone to keep the ponzi going - no need to fly to the US and listen to him plead in person.

Maybe, just maybe, the banks are in trouble.  I dunno.

spiral_eyes's picture

Tim Geithner should fuck off back to Goldman Sachs. 

Leave Europe and America alone!


Doña K's picture

Best outcome for Greece is for another PIIG to default first.

Doña K's picture

The Greeks are getting another warning via Turkey!

The banksters control. If you don't shape up, we will unleash Turkey against you.


Manthong's picture

..or a significant military intervention in one of the "grave and gathering threat" countries out there.

AldousHuxley's picture

No blood, no revolution.

Greeks need to start burning shit down. Start with bankster's property. Then move over to politicians.

smiler03's picture

I think reading tea leaves is probably more accurate than "utilizing the lunar-based Hebrew calendar."

Spirit Of Truth's picture

The 1929, 1987 and 1997 (Hong Kong) stock market crashes all occurred on the same day on the lunar (Hebrew) calendar:

 Autumn Panics: A Calendar Phenomenon

What are the odds of that?

I'm just pointing out the facts.  How you deal with that is your choice.

Cliff Claven Cheers's picture

Some guy did a study and wrote a paper, so it must be true.

Which is worse - bankers or terrorists's picture

Once the G leaves do we call it PISS?

Lord Welligton's picture

Another thing.

Geithner was just in Europe. Whatever he had to say he could have, and did say then.

So why the visit in the first place.

But the really intriguing thing is obviously.


Why turn back when you are already on your way there.


Pegasus Muse's picture

"... I have high hopes on you greece ;) "

"me too....very HIGH HOPES"

me three .... High Hopes .... http://www.youtube.com/watch?v=nIDLC8M4R28&feature=related 

HCSKnight's picture

Greece = Bear Sterns.  So in little Timmy's fantasy world, like taxes, he's technically not lying when he says they wont let another Lehman occur.

The question now is who is the Lehman....

Silver Bug's picture

Greece is already in shambles. They need to just suck it up and finish the EURO. It is a flawed currency from the start. Just as every other FIAT currency is. But the EURO especially because of the way debt was carried forward once established. Goodbye Greece, and thanks for all the Fish!



freethinker4now's picture

Let is burn down, down to the ground. Lets go back to being good neighbours, good people and not just money hungry fools.

Oh regional Indian's picture

Well said freetfn.

Hear Hear, outside of coals to newcastle, who is listening listening?



Infinite QE's picture

Canceled because Berlusconi is coming over for a bunga-bunga party.

Gubbmint Cheese's picture

Take this petulant child out to the woodshed and paint his barndoor fire engine red.

zorba THE GREEK's picture

It is cancelled because it's been decided to bail out Greece one more time


Doña K's picture


Are Greeks allowed to buy bullion gold in Greece? and if so have they been buying?

Minoan's picture

They are,but with a 20% premium the official way it's just wrong.Not to mention that Central Bank wants your full data to proceed.


pantheo's picture

buy from Piraeas aderfe. den rotane tipota.

Minoan's picture

I wish i could.With my few savings i bought silver a year ago.

Conrad Murray's picture

Oh, Paulie...won't see him no more.

centerline's picture

Wow.  What a regular soap opera this has become.

Cdad's picture

Well, Paps obviously did not hear all the rumors that Greece is fixed again.  Doesn't he understand the inherent healing power of criminal syndicate Wall Street banker rumor mongering [to cash in upside calls on option expiry day]?


Oh regional Indian's picture

I think he feared returning to being nothing but a Pap smear in Greek Memory.



CrashisOptimistic's picture

The way it reads suggests the Finance Ministry told him something horrible.  The obvious thing to suspect is that the deficit is far worse than previously reported and Eurostat will have to be informed.

And maybe a cherry on top might be . . . evidence some of the EU's/IMF's 1st tranche bailout was stolen and has disappeared.

That would just about end the party.

gmj's picture

You're kidding, the Greeks miscalculated their debt?  Mon Dieu!  Were any Goldman Sachs people lurking about?

EdwardTeach's picture

Could be the Turkish warships sitting off the Cypress coast. Warning the Greeks not to drill.

EdwardTeach's picture

And now this.
Turkey's European Union Affairs Minister Egemen Ba??? walked out of a conference in Yalta, Ukraine on Friday night

Military tension is building up among Greece, Turkey and Israel as Cyprus prepares to start exploratory drilling for gas offshore Monday, Sept. 19 in the face of threats from Ankara. All three have placed their air and sea forces in a state of preparedness along with the Cypriot army.

Lord Welligton's picture

Well that would certainly take their, and our, minds off the financial crisis.

Fiat Money's picture

DELICIOUS!  and which side will that despicable little war state come down on? 

  Up till now (since "fall of communism" & "end of cold war" days) they have been pretty good at playing ALL sides against the middle - TALKING "freedom & democracy!" while SUPPORTING thug dictators in bahrain, libya, saudi, (etc.);  supporting puppet dictator saakashvili's war in S.Ossettia (georgia), while simultaneously "PRIVATIZING" all the wealth OUT of russia they can get their paws on;  CLAIMING that they are "EXPERTS" on America's economic 'leadership,' while OUTSOURCING usa jobs to chi-com china (etc etc etc etc.)  - but sooner or later, ya got to put down your chips, and place your bets!   and take sides - and THEN maybe folks will start to take notice?  

mfoste1's picture

aka prepare for default

drivenZ's picture

aka prep for more Greeks lighting themselves on fire

RobotTrader's picture

The day that Greece defaults

The Dow will be up 500 points on the news

There will be a huge sigh of relief once that country is cut off and left to flounder on its own.

Hurry up and get it over with so we can resume the economic recovery and remove all this uncertainty.

lizzy36's picture

Controlled implosion or contagion explosion?

There is never just one cockroach.


Bam_Man's picture

resume the economic recovery

Yes, it's "uncertainty" about Greece that has dragged the global economy to the brink of recession.

You sir, are an imbecile.

Comay Mierda's picture

but but but phd economists told me we are in a "growth recession" so it cant be that bad

equity_momo's picture

No, he's a troll. An imbecile wouldn't have managed to keep coming back to ZH for over 2 years straight - Robot , even if he were a dumb fuck to begin with , wll have learnt a lot even through simple osmosis being around this place.
He simply enjoys being the troll , a contrarian troll to the ZH group think ( Im not knocking ZH but there is still a bias its just that bias is a counter weight to the mindless MSM)
My bet is Robt trader has even bought gold in the last 6 months and hasn't bought a share in a momo stock for ages ( he scares like a virgin on prom night)
He likes to take the unpopular view and courts others derision. Freud would have a 4 hour erection dealing with a case like robot trader.

So Robot trader, tell me about your relationship with your mother.

DeadFred's picture

It's not about his mother (cute little hottie that she is). Troll-like behavior is more commonly caused by childhood traumatic events. Think of the four-eyed kid who used to get swirlies from Bobby McCoy in third grade. As the swirling toilet water is going up his nostrils and his adrenaline levels soar as he fears for his life, the coping strategies he uses to get through that event become etched into his future behavior by the adrenal receptor neural pathways that are established.  Each traumatized child responds differently but the patterns become wired in, often for a lifetime. Robottrader responds to the angst of seeing our world economy melting down by a self-soothing pattern of forcasting that things will magically improve despite the threat. This is based on his unique way of dealing with Bobby McCoy all those years ago in some LA public school but it has been reinforced a lot in recent years by living here in Bizzaro World. Others react differently. IQ145 for instance reacted to his swirly by puffing himself up and saying to Bobby (not out loud) "I'm smart and you're an idiot" and it still shows in his posts. I, on the other hand respond with sardonic comments rather than screaming out "the world is coming apart". It's much more soothing. Damn you, Bobby McCoy wherever you are!

Smiddywesson's picture

LOL Robo, I can't believe they junked you for saying the markets would ramp on a Greek default.  Of course they will ramp.  They ramped when the SNB intervened.  They ramped on the worst economic data yet last week.  So, of course they will ramp.

The tools the Bernank keeps bragging about are ramping the markets and hitting gold with a big ugly stick.  That's what he has been reduced to.  So if Greece defaults, expect gold to get a kick in the nuts.  (reverse logic is still logic in this topsy turvy world)

the eastern promise's picture

astute observation. That's the way I see it  too. Long term, however, it's a different story. Italy's next...