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G-Pap Demands Referendum To Rescue Plan, Seems Set To Throw In The Towel

Tyler Durden's picture





 

It appears the Greek leader has had it, and is officially throwing in the towel, leaving his citizens to tell Europe to shove their perpetual bank rescue plan, via Bloomberg:

  • PAPANDREOU SAYS NEW GREEK PLAN MUST BE PUT TO REFERENDUM
  • PAPANDREOU SAYS GREEKS CALLED ON TO CHOOSE ON COUNTRY'S COURSE
  • PAPANDREOU SAYS CALLS FOR VOTE OF CONFIDENCE ON POLICIES
  • PAPANDREOU SAYS GREEK DECISION WILL BIND ALL POLITICAL PARTIES
  • PAPANDREOU SAYS REJECT ELECTIONS AT THIS TIME

Naturally, with scenes like this one from last week, don't expect a glowing Greek endorsement of abdicating national sovereignty to the European superstate. In fact, expect the opposite. And with that, preparations for a Greek exit from the Euro and Eurozone begin in earnest. Needless to say, Deutschland is not too happy.

 


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Mon, 10/31/2011 - 14:09 | Link to Comment TraderMark
TraderMark's picture

meanwhile back in the United States of Corporations, Spiegel Online (Germany) looks at if America has Become an Oligarchy (yes!)

 

http://www.fundmymutualfund.com/2011/10/spiegel-has-america-become-oligarchy.html

Mon, 10/31/2011 - 14:13 | Link to Comment ratso
ratso's picture

Turns out that there are lies, damn lies, accounting lies and the worst of all - Greek lies.

Mon, 10/31/2011 - 14:19 | Link to Comment slaughterer
slaughterer's picture

G-Pap just got his ass "saved" and now he wants to put the decision up for referendum?  This is trully getting more absurd with every day.  If only Jonathan Swift were alive today. 

Mon, 10/31/2011 - 14:24 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

I have been running the popcorn machine pretty hard now for months.  Looks like I will have to buy a new one...

And this time, popcorn in bulk!

Mon, 10/31/2011 - 14:39 | Link to Comment Commander Cody
Commander Cody's picture

Easy on the salt.

Mon, 10/31/2011 - 14:39 | Link to Comment JohnG
Mon, 10/31/2011 - 14:55 | Link to Comment FinHits
FinHits's picture

Papcorn? 

I am pleased, I hope the Greeks vote the rescue package down and declare their exit from Eurozone. Then the whole Euro-prison can collapse and national currencies and national responsibilities can be re-established over the current leeching system.

It won't be fun for the Southern Europe, though, or to the banks and investors who have invested there. Better put your Euro investments in Northern European countries now.

Mon, 10/31/2011 - 15:26 | Link to Comment TruthInSunshine
TruthInSunshine's picture

My Big Fat Greek/Italian/Spanish/Portugese/Irish/French haircuts.

Mon, 10/31/2011 - 16:00 | Link to Comment FinHits
FinHits's picture

Or Eurodebts converted to devalued domestic currencies.

Mon, 10/31/2011 - 14:24 | Link to Comment Ahmeexnal
Ahmeexnal's picture

GRIECHENLAND ANSCHLUSS!!!

Mon, 10/31/2011 - 14:52 | Link to Comment CompassionateFascist
CompassionateFascist's picture

And in France:  Maginot Line re-activated, and crash re-forestation project in the Ardennes.

Mon, 10/31/2011 - 14:53 | Link to Comment peekcrackers
peekcrackers's picture

OPA!  PAPANDREOU.. jack ass

Mon, 10/31/2011 - 14:55 | Link to Comment He_Who Carried ...
He_Who Carried The Sun's picture

Who would want to run that shithole? The Germans? lol

Mon, 10/31/2011 - 15:10 | Link to Comment Divided States ...
Divided States of America's picture

Yeah G-spot probably got death threats and finally realizes that he better do what the people wants, not what the bankers want.

Mon, 10/31/2011 - 15:23 | Link to Comment disabledvet
disabledvet's picture

Which ones? The German or Greek ones?

Mon, 10/31/2011 - 15:20 | Link to Comment Milestones
Milestones's picture

I think I'd go with Rabelais; this is getting Gargantuan.     Milestones

Mon, 10/31/2011 - 19:45 | Link to Comment Buck Johnson
Buck Johnson's picture

I think he found out how much he is giving up by taking their plan.  He wants the people to say F it and default pure and simple.

Mon, 10/31/2011 - 14:54 | Link to Comment He_Who Carried ...
He_Who Carried The Sun's picture
'You can lead a horse to water, but you can't make it drink' !!

Good riddance, Greece.

Mon, 10/31/2011 - 15:20 | Link to Comment Au Shucks
Au Shucks's picture

nice tits, but not so sure on the comment

your analogy fails me... leading a horse to water is to lead a horse to sustainability.  leading greece to accept another bailout is to lead greece to death.  how do the two compare? 

Will you say good riddance when Portugal, Ireland, Spain and Italy follow suit?  They will you know as there is no alternative short of total debt jubilee

Mon, 10/31/2011 - 15:26 | Link to Comment He_Who Carried ...
He_Who Carried The Sun's picture

Absolutely, baghead. Let them go, if they wish to do so. Why would anybody throw more money after these...? It would lead to a painful decade but it will also be very cleansing.

I for one produce enough milk to stay afloat...!

Mon, 10/31/2011 - 15:26 | Link to Comment Joe Sixpack
Joe Sixpack's picture

Much like Socrates, the horse was lead to drink hemlock. Turning and running may not have been a bad idea.

Mon, 10/31/2011 - 15:29 | Link to Comment He_Who Carried ...
He_Who Carried The Sun's picture

Yes, if they want to keep their various PONZIs running, they better do it in Olives, Ouzo and Drachma than playin' with hard money... I'd say gogogo, but I fear Merkozy will come up with some new accounting trick...

Mon, 10/31/2011 - 19:41 | Link to Comment MS7
MS7's picture

G-Pap was born in the good ole USA (Minnesota). He was educated in the USA. His mother is American, not Greek. He seems to think in English, as it is often noted that he makes mistakes when speaking Greek. So I would say his lies, and I believe there have been plenty, are grade A American.

Mon, 10/31/2011 - 14:17 | Link to Comment Akrunner907
Akrunner907's picture

Referendum vote held = austerity fails = Greece declares bankruptcy = All major banks collapse = economy goes down = local barter economy surfaces

 

YEAH!!!  Let's get it on!

Mon, 10/31/2011 - 14:19 | Link to Comment mckee
mckee's picture

Good thing I know how to make cheese.... stuff will be like gold!!

Mon, 10/31/2011 - 14:23 | Link to Comment Poule Mouillee
Poule Mouillee's picture

Escpecially if it's got ELECTROLYTES!!

Mon, 10/31/2011 - 14:34 | Link to Comment astartes09
astartes09's picture

Its got what Greeks crave

Mon, 10/31/2011 - 14:52 | Link to Comment Stax Edwards
Stax Edwards's picture

HaHa Yes!

 

The years passed, mankind became stupider at a frightening rate. Some had high hopes the genetic engineering would correct this trend in evolution, but sadly the greatest minds and resources where focused on conquering hair loss and prolonging erections.

Mon, 10/31/2011 - 15:17 | Link to Comment edotabin
edotabin's picture

My favorite movie! 

" Do sumthin smart!"

Mon, 10/31/2011 - 14:24 | Link to Comment Biosci
Biosci's picture

My girlfriend is pretty good at churning butter, but I have no useful skills.

 

(I might be overcaffeinated this morning)

Mon, 10/31/2011 - 14:29 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Not a very hygienic GF. 

Mon, 10/31/2011 - 14:57 | Link to Comment youngman
youngman's picture

Mine juices grapes pretty well...with her feet of course

Mon, 10/31/2011 - 17:52 | Link to Comment Sunshine n Lollipops
Sunshine n Lollipops's picture

Good thing I know how to make cheese.... stuff will be like gold!!

 

Are you hiring? I can cut the stuff like a champ.

Mon, 10/31/2011 - 14:32 | Link to Comment DogSlime
DogSlime's picture

YEAH!!!  Let's get it on!

 

LIKE DONKEY KONG!

...so glad I don't have kids.  An ugly world awaits them.

Brace for impact, perhaps - looks like this might FINALLY be it.

Mon, 10/31/2011 - 14:57 | Link to Comment Sequitur
Sequitur's picture

I second this. My chick wanted to have kids. I told her to look around at this grossly overpopulated shithole of a planet, and asked, "are you fucking crazy"?

Mon, 10/31/2011 - 15:02 | Link to Comment Taterboy
Taterboy's picture

Planet"s not going to be overpopulated for long. Once people start viewing other people as a food source.

Mon, 10/31/2011 - 16:02 | Link to Comment Shitters_Full
Shitters_Full's picture

Soylent Greek!

Mon, 10/31/2011 - 15:10 | Link to Comment nonclaim
nonclaim's picture

She will be happy to overpopulate the world with somebody else... you determination is a non-sequitur.

Mon, 10/31/2011 - 17:52 | Link to Comment Dave Thomas
Dave Thomas's picture

Problem is, most smart, kind people think like this, leaving the world to be populated with tons of half wits and sociopaths.

Beat up your significant others uterus, and make the world a better place.

 

Mon, 10/31/2011 - 14:56 | Link to Comment plantigrade
plantigrade's picture

... = markets go up (?)

Mon, 10/31/2011 - 15:09 | Link to Comment rosex229
rosex229's picture

the markets seem to be assuming this is purely political rhetoric, but if it ends up being substantive its huge. he wouldn't leave this decision in the hands of the citizens who are sure to vote no unless he had a plan for negotiating a larger haircut. i then wonder how far they can go before this default... i mean haircut is no longer voluntary.

Mon, 10/31/2011 - 19:44 | Link to Comment MS7
MS7's picture

I think I will trust the markets on this one. He may just be buying time-- All the other parties in Parliament have been calling for early elections. A referendum, and a postponement of it, and further postponement of it, will give him plenty of time to sell what is left of Greece.

Mon, 10/31/2011 - 15:10 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Bloomberg radio just said the DOW was up 150 pts.  <rolleyes />

Mon, 10/31/2011 - 14:10 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

'It's not my fault' - GPap.

Mon, 10/31/2011 - 14:19 | Link to Comment Unprepared
Unprepared's picture

Better ... "Wasn't me" (a la Ali G)

Mon, 10/31/2011 - 14:22 | Link to Comment Mike2756
Mike2756's picture

But i didn't do anything!

Mon, 10/31/2011 - 15:13 | Link to Comment Nascent_Variable
Nascent_Variable's picture

I swear to God, Angie, if you tell me to suck your dick one more time, I'm quitting and taking the whole damn thing down with me.

- G'Pap

Mon, 10/31/2011 - 15:30 | Link to Comment Joe Sixpack
Joe Sixpack's picture

'It's not my fault' - GPap., 2011

 

'It's not my fault' - Obama., 2009

Mon, 10/31/2011 - 15:48 | Link to Comment Canuckistan Al
Canuckistan Al's picture

A real G-Pap smear campaign if I ever saw one.

Mon, 10/31/2011 - 14:10 | Link to Comment gojam
gojam's picture

Bout time !!

Mon, 10/31/2011 - 14:11 | Link to Comment Motorhead
Motorhead's picture

Ya mas!

Mon, 10/31/2011 - 14:11 | Link to Comment Forgiven
Forgiven's picture

Meanwhile the EFSF says, "As you can see, there is nothing up my sleeves."

Mon, 10/31/2011 - 15:14 | Link to Comment gmrpeabody
gmrpeabody's picture

It's not polite to point.

Mon, 10/31/2011 - 14:12 | Link to Comment NotApplicable
NotApplicable's picture

Exit from a union? Unpossible!

No wonder NATO is leaving Libya, they've got more heads to bust.

Mon, 10/31/2011 - 14:50 | Link to Comment CrashisOptimistic
CrashisOptimistic's picture

Protect civilians!!

No, not THOSE civilians.  THOSE over there!

Mon, 10/31/2011 - 15:10 | Link to Comment earleflorida
earleflorida's picture

NWO Police, butts,... they gots to do sometin  bout them's intimidating 'Blue Helmet's, when thems come to wall street

Mon, 10/31/2011 - 16:11 | Link to Comment Abitdodgie
Abitdodgie's picture

See blue shoot to kill

Mon, 10/31/2011 - 14:13 | Link to Comment Rynak
Rynak's picture

Selective democracy:

You get direct democracy, if you will vote for what i want anyways. And you can get immediate elections, if you will vote for me anyways. In the absence of those two cases, STFU serf.

Mon, 10/31/2011 - 14:15 | Link to Comment MsCreant
MsCreant's picture

Ice-Iceland baby!

Or if you prefer: Under Pressure

http://www.youtube.com/watch?v=YsSlNFTjxss

Mon, 10/31/2011 - 14:13 | Link to Comment SpaDe
SpaDe's picture

| / _ and the dominos start to fall?

Mon, 10/31/2011 - 14:28 | Link to Comment El Oregonian
El Oregonian's picture

Did someone say Domino's?

http://lyricsg.com/44610/415 / pop 2.81843 / exp 0
Van Morrison Domino lyrics

Mon, 10/31/2011 - 14:13 | Link to Comment bernorange
bernorange's picture

Bring on the pain (to the banking sector).  Greek people are gonna knock over the first domino.

www.pmbug.com

Mon, 10/31/2011 - 14:26 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Nice website!

Mon, 10/31/2011 - 14:13 | Link to Comment Belarus
Belarus's picture

100% haircut here we coooommmme! And next: Italy 50% haircuts.....now that Greece is outta the way, they might as well go for their own hair trim. 

Mon, 10/31/2011 - 14:14 | Link to Comment Stoploss
Stoploss's picture

I got a new one....

=======================================FUCK THE EUROZONE====================================================

Mon, 10/31/2011 - 14:34 | Link to Comment DogSlime
DogSlime's picture

It's already fucked.

Mon, 10/31/2011 - 14:14 | Link to Comment Tsar Pointless
Tsar Pointless's picture

And with that, preparations for a Greek German exit from the Euro and Eurozone begin in earnest.

FIFY.

Man, I never do that! I think it's the first time for me, in fact. A "strikethrough" virgin.

Was I good? LOL

Mon, 10/31/2011 - 14:14 | Link to Comment Cdad
Cdad's picture

Huh?  No coverage anywhere else.  Instead, we are treated to the BlowHorn [CNBC]analysis of Bob Pisani, which seems to begin and end at, "Italian bonds over 6% is not a magical thing."  But accounting fraud earnings pixie dust is?

Really Bob?  How about that rate on long dated US T bills...in about thirty days when the unconsititutional Super Committee fails to acheive...anything?

How the hell does Bob "hedge fund parrot" Pisani still have a job?  Is his primary qualification his lack of curiosity?  

Mon, 10/31/2011 - 14:43 | Link to Comment Cone of Uncertainty
Cone of Uncertainty's picture

Bob Pisani is one of those dudes that thinks he's still back in 1987 covering the crash.

He overplays his hand each and every fucking day and I'm tired of his nonsense.

Too many CNBC bitches and not enough slaps to go around.

Mon, 10/31/2011 - 21:33 | Link to Comment smiler03
smiler03's picture

No coverage anywhere else?

The BBC headline story is.. http://www.bbc.co.uk/news/world/

Mon, 10/31/2011 - 14:14 | Link to Comment tickhound
tickhound's picture

The Greeks are figuring the shit out... 75% debt reduction proposal up next.

Mon, 10/31/2011 - 14:16 | Link to Comment lolmao500
lolmao500's picture

No way people accept the ``rescue plan``...

What they should do is a referendum on ``Do we stay in the Euro or not?``...

Mon, 10/31/2011 - 14:15 | Link to Comment LMAO
LMAO's picture

Today's the day for Greek appearances, it seems:

ISDA Says 50% Greek Bond Haircut "Appears" Voluntary

It appears the Greek leader has had it

Mon, 10/31/2011 - 14:40 | Link to Comment PAPA ROACH
PAPA ROACH's picture

He's pissed he cannot collect on his long CDS bets...

Mon, 10/31/2011 - 14:15 | Link to Comment MarcusLCrassus
MarcusLCrassus's picture

Good.  He should have put it to a vote a year ago.  The Greeks will of course reject this package, and DOWN GOES FRASIER- whoops, I mean- DOWN GOES THE EURO. 

Mon, 10/31/2011 - 14:16 | Link to Comment Ivanovich
Ivanovich's picture

Just curious, but when he says "Greeks must choose" what he really means is "Greek Politicians (lackeys) must choose".  No?

 

How will this change from before?

Mon, 10/31/2011 - 14:18 | Link to Comment lolmao500
lolmao500's picture
Greek PM says Greece is close to generating a primary surplus

LOL

Mon, 10/31/2011 - 14:20 | Link to Comment Cdad
Cdad's picture

Not even the perma-cheerleading BlowHorn [CNBC] carried this story...to my knowledge.

The death of all credibility, be it in markets, currencies, or integrity of word...is a slow and painful thing...until it isn't...and comes then the plunging and screaming.

Mon, 10/31/2011 - 14:18 | Link to Comment High Plains Drifter
High Plains Drifter's picture

the gpap family needs more time to smuggle all of the greek gold out of country, gold that it has stolen from the greek people. so gpap calls for a vote from the sheep.  yep, stalling for time............

Mon, 10/31/2011 - 14:27 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Plenty of ships to hide the gold...

Mon, 10/31/2011 - 15:33 | Link to Comment Joe Sixpack
Joe Sixpack's picture

Massive spate of boating [shipping] accidents to occur as Greek ships barely float.

Mon, 10/31/2011 - 14:18 | Link to Comment FinalCollapse
FinalCollapse's picture

Greece will leave EZ, and maybe stay in EU. They will default on 100% of private GGB. This will bring their Debt/GDP to something like 80% which will be manageable, if they get their shit together. 

Paging that little Frenchman....

 

Mon, 10/31/2011 - 14:25 | Link to Comment High Plains Drifter
High Plains Drifter's picture

80 percent debt /gdp ratio is manageable?  how can this be?  you are dreaming. no way.......it is over for greece justl like it over for us. we are greece, soon enough....

Mon, 10/31/2011 - 14:39 | Link to Comment Rynak
Rynak's picture

What will not be paid, won't be paid. Debt is just a promise. Of course, consequences from the lenders will follow. Which probably will mean, that while being free of most debt, you'll be isolated and on your own.

A lot of things are doable. Most of them are "politically impossible" in what nowadays is called politics.

Mon, 10/31/2011 - 15:09 | Link to Comment High Plains Drifter
High Plains Drifter's picture

i think all of this stuff is happening now for a reason. it may be fixable but it won't be fixed. it really isn't about politics. imho. it is a time of the world in which we live in. certain individuals , in multi generational plans conceived long ago, have been working to achieve the goal, one world government. they are close now. so close they can taste it. they want it. they want it badly. it is our job to stop  them. 

Mon, 10/31/2011 - 15:14 | Link to Comment Raynja
Raynja's picture

being frozen out of debt markets is a huge part of the solution for over indebted people, corporations, or states. This forces the entity to live within its means and develop sustainable spending habits.

Mon, 10/31/2011 - 14:19 | Link to Comment Piranhanoia
Piranhanoia's picture

G-Pap will be missed by some.  But the sheer volume will insure he gets hit.

Mon, 10/31/2011 - 14:19 | Link to Comment The Deleuzian
The Deleuzian's picture

It will be very difficult for the 'Greek on the street' to continue with the EU...The politicians and the plebs are two different entities with diverging motivations...This is a mess...Buy Gold.................

Mon, 10/31/2011 - 14:20 | Link to Comment ugly realist
ugly realist's picture

Apparently 50% haircut was not enough and it only affected private investors.

Not ECB which has bought a lot of greek debt.

BTW, what is the name of the Greek finance minister, Kleptopopoulos?

 

 

Mon, 10/31/2011 - 14:21 | Link to Comment LookingWithAmazement
LookingWithAmazement's picture

The Greeks will vote in favor of the EU and the bailouts. A majority of them supports the austerity, because they want an end to all the nepotism and spoiling of taxpayers' money. So no crisis, collapse, meltdown, Armageddon. Boring world we live in.

Mon, 10/31/2011 - 14:22 | Link to Comment Deadpool
Deadpool's picture

bullshit. a majority of Greeks livelihood comes from the spoils.

Mon, 10/31/2011 - 14:26 | Link to Comment The Deleuzian
The Deleuzian's picture

Absolutely, what are the Greek 'social service' going to say when they can't retire at 55 and now it's 70!!!!

Mon, 10/31/2011 - 18:09 | Link to Comment The Deleuzian
The Deleuzian's picture

Bravo!...I love flow charts deadpool!...Bravo...

Mon, 10/31/2011 - 14:29 | Link to Comment Smartie37
Smartie37's picture

I think "Abra Cadabra !" has a better chance of working than your "mantra" for keeping things calm.................

 

Now's that hazy time in between "boring world" and "cuttthroat world" ! 

 

Rampaging Rioters won't be "boring" !!!!!!!!!!!!!!!!!!!

Mon, 10/31/2011 - 14:48 | Link to Comment MsCreant
MsCreant's picture

Troll, troll, troll a quote

Annoying as a flea

Merrily, merrily, merrily, merrily

You must enjoy the ream.

Mon, 10/31/2011 - 14:59 | Link to Comment Vergeltung
Vergeltung's picture

I hear ya.

 

the stupid, it hurts.

Mon, 10/31/2011 - 16:23 | Link to Comment LookingWithAmazement
LookingWithAmazement's picture

Mark my words: the referendum will turn positive for the agreement. Euro saved. Rally!

Mon, 10/31/2011 - 18:03 | Link to Comment margaris
margaris's picture

what does an agreement even count these days?

Nothing... everything is in acceleration-flipflop-mode! But approaching climax hopefully soon!

Maybe first you will indeed be right, I give you that. But very shortly after that you will be VERY WRONG!

 

 

Mon, 10/31/2011 - 18:58 | Link to Comment MsCreant
MsCreant's picture

If they use Diebold voting machines, sure, you betcha!

Mon, 10/31/2011 - 14:21 | Link to Comment z123
z123's picture

this is the end of the euro, good bye and welcome back the 'Deutsche Mark'

Mon, 10/31/2011 - 14:21 | Link to Comment Me XMan
Me XMan's picture

G-Pap can't stand to be called TRAITOR!

Mon, 10/31/2011 - 14:21 | Link to Comment srsly-wtf
srsly-wtf's picture

I think this is a GPap Smear

Mon, 10/31/2011 - 14:21 | Link to Comment Deadpool
Deadpool's picture

gonna make Occupy Oakland look like a Cub Scout Jamboree when they roll the blue helmets in there.

Mon, 10/31/2011 - 14:53 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Yes, plenty of pain coming to Greece, then the rest of Europe, then to us.  Let's hope that we do not too much violence over here, but when the chips start coming down, there will be a LOT of angry people, looking for scapegoats.

By that time, Corzine will have left on his Gulfstream...

Mon, 10/31/2011 - 15:11 | Link to Comment High Plains Drifter
High Plains Drifter's picture

will german armor roll into greece again?  quite possible. under the sign of the 12 stars the color blue.......and why ?   because it is to save the european union don't you know.......

Mon, 10/31/2011 - 15:36 | Link to Comment Joe Sixpack
Joe Sixpack's picture

Herr Abrahim Linköln

Mon, 10/31/2011 - 18:50 | Link to Comment Terminus C
Terminus C's picture

common... you know that was to free the slaves...

Mon, 10/31/2011 - 14:22 | Link to Comment adr
adr's picture

This kind of news along with MF would have sent the market down 15% in one day a few weeks ago. Somehow now this blowup is having no effect, wow the markets are down 1%. Crude barely dropped as well, WTF is going on.

I guess they don't want to kill the greatest October in 40 years. Unicorns shitting skittles need to have one month in the sun.

Mon, 10/31/2011 - 15:39 | Link to Comment Instant Wealth
Instant Wealth's picture

Money from the elites in Greece, Italy, France, etc. buying every single dip on Wall St. to transfer their wealth to a relative safe haven (?)

Mon, 10/31/2011 - 14:23 | Link to Comment Everybodys All ...
Everybodys All American's picture

G Pap may want to have someone start his car from now on.

Mon, 10/31/2011 - 15:06 | Link to Comment JenkinsLane
JenkinsLane's picture

Greece should default totally, leave the EU, return to the Drachma, see the prices of imported goods sky rocket and exported goods collapse (what do the Greeks export anyway?) see their welfare system collapse, see nearly the entirety of their public sector unemployed and see themselves shut out of capital markets indefinitely. The bottom line with Greece is they want someone else to pay for their standard of living.

http://blogs.telegraph.co.uk/finance/ianmcowie/100012894/fast-cars-and-l...

 

The bubbles should look on the bright side. It was a good scam while it lasted and at least it's sunny there.

 

(p.s. put me down for a Cayenne ringer around April next year, fancy black, name your currency. I imagine they'll be quite a few on the market then.)

 

Disclosure - Long Albanian car transporters

Mon, 10/31/2011 - 15:19 | Link to Comment High Plains Drifter
High Plains Drifter's picture

i am sure most greeks want to do that. but , as can be seen. the ones in control don't give a hoot what greeks want. it is what they want that is important, and this is the way it is all over the world. it makes one feel better perhaps to discuss this and that about these events but it doesn't mean anything. power is money and money is power and who has the money and who has the power. as the communist rothschild agent, abraham lincoln said one time in 1860.   might makes right. ...........and so it is...........greeks can change this. but to do that, would cause a lot of pain. the great russian writer, 

Aleksandr Solzhenitsyn, said many times, that all the russian people had to do to stop the small group of new york communist jews and their small group of russian helpers, from taking over mother russia was for the russian people to stand up and resist them. but they did not. when sheep hate pain the most is when the pain must be felt in order to help their causes, so it seems. a tragedy of epic proportions, played out daily in our lives...

Mon, 10/31/2011 - 19:56 | Link to Comment MS7
MS7's picture

How many people in Greece own porsches? Only the very rich. Yes, the very rich do not pay their taxes and the "socialist" government looks the other way. A deal was made. What does that have to do with the rest of the population? Since you are citing news from the UK, how about looking at an article from the Guardian from the summer about the Greek health care system to see how austerity has affected Greece?

http://www.guardian.co.uk/world/2011/aug/05/greece-healthcare-brink-cata...

Mon, 10/31/2011 - 14:26 | Link to Comment slaughterer
slaughterer's picture

This news will be saved for after-market to generate the gap down overnight. Fund managers have to have a decent close of end of month.  Too dangerous to release this news right now before close on MSM.  

Mon, 10/31/2011 - 14:26 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Bald guys with 50% haircuts still look the same. 

Mon, 10/31/2011 - 14:27 | Link to Comment SecondComing
SecondComing's picture

The political sphere orbiting the economic singularity.  Just wait until the political sphere undergoes geopolitimagnetic reversal.  That'll be interesting to witness, as it will occur on a telluric scale, just like a geomagnetic reversal.

Mon, 10/31/2011 - 14:29 | Link to Comment jcaz
jcaz's picture

Smart man- getting out of the way before the serious rioting begins.....

Mon, 10/31/2011 - 14:30 | Link to Comment NDXTrader
NDXTrader's picture

Finally! Although we'll see if this ever happens. Sure GPap will be getting some rather pointed phone calls soon and may die of "natural" causes sooner rather than later. But ultimately this is what should happen. Let the damn people who feel the effects both pro and con make the decision - and I think we all know what that will be.

Mon, 10/31/2011 - 14:31 | Link to Comment NDXTrader
NDXTrader's picture

Still nothing on CNBC or Bloomberg...this is potentially the biggest event since this whole saga began and nothing. Nothing to see here folks

Mon, 10/31/2011 - 14:51 | Link to Comment SheepDog-One
SheepDog-One's picture

Cant have the Wall St media cheerfest spoiled....man these guys must be in it up to their eyeballs!

Mon, 10/31/2011 - 15:13 | Link to Comment Troll Magnet
Troll Magnet's picture

Yeah.  Why ruin October when it brought us so many great returns?  Ignore and buy buy buy!  

Mon, 10/31/2011 - 14:51 | Link to Comment srsly-wtf
srsly-wtf's picture

Move along!

Mon, 10/31/2011 - 15:18 | Link to Comment vamoose1
vamoose1's picture

to  ndx

    Tyler quotes Bloomberg as his source, ,   so  where is it. I totally agree,   THIS IS IT,  well said.

Mon, 10/31/2011 - 15:39 | Link to Comment Joe Sixpack
Joe Sixpack's picture

"Still nothing on CNBC or Bloomberg...this is potentially the biggest event since this whole saga began and nothing. Nothing to see here folks"

Market closes in 24 minutes. Then they report it.

Mon, 10/31/2011 - 15:38 | Link to Comment plantigrade
plantigrade's picture

he probably shouldn't take a bath in his private plane

Mon, 10/31/2011 - 14:31 | Link to Comment J 457
J 457's picture

Is this DEFCON 1?  It should be and the markets should be down 3-4% on todays news, but they are holding steady.  Why o why, and who is buying and thinking there is still upside room to run after 20% gain in 3 weeks.  Even oil is catching a bid when the global picture looks bleaker and bleaker every day.  Bizzzarro markets.

Mon, 10/31/2011 - 14:37 | Link to Comment Cangoroo
Cangoroo's picture

Frozen markets, that is worse

Mon, 10/31/2011 - 15:01 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Just wait for the volume to pick up.  No one has caught on yet.  Also, holidays in Europe I believe.

Mon, 10/31/2011 - 14:32 | Link to Comment gatorengineer
gatorengineer's picture

Greek referendum will include voluntary departure from the EU.... It will pass Greece defaults refinanced in Drachmas and Skittles.... Bullish for the EU (seriously), as the plan put forward was never viable, and saves the EU a couple hundred Billion...  Exploding CDS's dont look so bad now....... 

Worlds eyes turn to Italy........ Then Ireland Portugal Spain.........  US is in there somewhere......

Mon, 10/31/2011 - 14:46 | Link to Comment totem
totem's picture

If the Greek citizens vote down the plan, it would pave the way for Greece to "voluntarily" declare bankruptcy.

As a voluntary act, the ISDA could then rule that no credit event could be triggered on the resulting 90% haircut.

Of course, we'll have to wait a couple years for this vote as Greece procures sufficient ink supplies.

Mon, 10/31/2011 - 14:32 | Link to Comment Stuart
Stuart's picture

Pap is a full retard.  No referendum needed on that.   

Mon, 10/31/2011 - 14:35 | Link to Comment Cangoroo
Cangoroo's picture

With failed EFSF placement no surpise, they must leave, Portugal as well.

Mon, 10/31/2011 - 14:36 | Link to Comment lesterbegood
lesterbegood's picture

Can you say fraudulent odious debt...how about debt jubilee?

Mon, 10/31/2011 - 14:36 | Link to Comment Peter K
Peter K's picture

Hey, let's call a referendum. Well it's about f*****g time:) If these assclowns in Euroland did this at the onset of this stupid currency union (given that the old currency union i.e. the ECU went over like a lead ballon), they would have saved us all a lot of time, and themselves and their tax slaves a ton of money.

Mon, 10/31/2011 - 14:40 | Link to Comment Cone of Uncertainty
Cone of Uncertainty's picture

WTF, fuck this stupid post, the real news today is that Kim Kardashian is getting divorced!

Boooyaaaaaahhh!!!!

Mon, 10/31/2011 - 15:17 | Link to Comment Troll Magnet
Troll Magnet's picture

Kim Kardashian is getting divorced?  Bearish!  Err...I mean, BULLISH!

Mon, 10/31/2011 - 14:56 | Link to Comment srsly-wtf
srsly-wtf's picture

Looks like a web of death!!  Mutually assured destruction if one dominoe falls!

Mon, 10/31/2011 - 14:43 | Link to Comment Fix It Again Timmy
Fix It Again Timmy's picture

It's like, ah, this....

http://www.youtube.com/watch?v=dsx2vdn7gpY

 

Mon, 10/31/2011 - 14:44 | Link to Comment skistroni
skistroni's picture

Hell, yeah. After 2500 years, we'll be teaching history again. This is our chance.

Mon, 10/31/2011 - 14:49 | Link to Comment Cangoroo
Cangoroo's picture

It really is, Greece needs a new start and help

Mon, 10/31/2011 - 19:04 | Link to Comment Terminus C
Terminus C's picture

Hell, yea... I'll pitch in five bennies to get them up and on their feet again.

Mon, 10/31/2011 - 14:45 | Link to Comment citrine
citrine's picture

Monday afternoon humor: "The new European Anthem" - cartoon. Sorry, I do not know how to insert a picture.

http://www.presseurop.eu/en/content/cartoon/1122611-european-disco

 

 

Mon, 10/31/2011 - 14:46 | Link to Comment Big Ben
Big Ben's picture

"That's an attitude, sir, that calls for the most delicate judgment on both sides. 'Cause as you know, sir, in the heat of action men are likely to forget where their best interests lie and let their emotions carry them away." -- Kaspar Gutman in 'The Maltese Falcon'.

At the moment, the Europeans are in effect paying Greece not to default, so it is probably not in the Greek's best interests to default at this moment. Eventually, when the Europeans stop making their bond payments for them, then the Greeks should most definitely default. But it is not yet the optimal time for them to default. They should squeeze every euro that they can from the Europeans and then default.

However, the Greek people are understandably angry and frustrated and it seems very likely that they might choose to default immediately.

Mon, 10/31/2011 - 14:46 | Link to Comment mfoste1
mfoste1's picture

^ bullish

Mon, 10/31/2011 - 14:47 | Link to Comment lolmao500
lolmao500's picture
German revenue ample to fund planned tax cuts according to an official

Tax cuts in Germany... this is gonna be fun down the road.

Mon, 10/31/2011 - 14:48 | Link to Comment djudy003
djudy003's picture

I wonder if the partial collapse of the Euro is a good for the US in the long run. I mean if the US wants to keep financing its huge deficit it needs to make sure there is no one else competing with it for the world's savings. Just a thought.

 

Mon, 10/31/2011 - 14:51 | Link to Comment walcott
walcott's picture

this is the end game they want to forcefully impose on everybody all over the earth.

One world Government, Currency and their fucking Masonic Pyramid bullshit on your ass - Tom Curise psycho religion.

 

 

http://vigilantcitizen.com/sinistersites/analysis-of-the-occult-symbols-found-on-the-bank-of-america-murals/
Prominently displayed in the lobby of the Bank of America’s Corporate Center are “creepy” frescoes, filled with occult symbols. Even more unsettling is the fact that those images seem to predict events of a radical world change in the not-so-distant future. Are those murals predicting the coming of an occult New World Order? We will look at the occult meaning of the symbols found on the Bank of America frescoes. http://vigilantcitizen.com/sinistersites/sinister-sites-israel-supreme-c...
Sinister Sites – Israel Supreme Court

The Israel Supreme Court is the creation of one elite family: the Rothschilds. In their negotiations with Israel, they’ve agreed to donate the building under three conditions: the Rothschilds were to choose the plot of land, they would use their own architect and no one would ever know the price of its construction. The reasons for those conditions are quite evident: the Supreme Court building is a Temple of Masonic Mystery Religion and is built by the elite, for the elite. http://vigilantcitizen.com/sinistersites/sinister-sites-israel-supreme-c...

And this too - New World Order: Implantable RFID chips capable of remotely killing non-compliant 'slaves'

http://www.naturalnews.com/033986_RFID_chips_remote_kill.html#ixzz1c5G5W...


 
Anybody still think these cocksuckers have you're best interest at heart? It's complete surrender to their absolute domination. They're forcing their bullshit pyramid masonic crap on every fucking body. Seperation of chruch and state? Hell no when the state makes up the religion. Pharaoh lives in Israel and New York.

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