German Bundestag Approves Second Greek Bailout

Tyler Durden's picture


As expected:


Same thing from Reuters:

Germany's parliament approved a second Greek bailout package on Monday despite growing German unease over debt-ridden Greece's ability to push ahead with painful austerity measures and remain in the euro zone.


It was not immediately clear if Chancellor Angela Merkel, facing a revolt from a small group of members of parliament from her own coalition, had to rely on opposition votes to pass the 130-billion-euro ($175 billion) Greek rescue programme.

And now, here come ze German tax collectors. The Greeks are ready.

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Mon, 02/27/2012 - 12:43 | 2200707 lolmao500
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Redcoats... all of them.

Ze German collectors shall hang high!

Mon, 02/27/2012 - 12:46 | 2200717 slaughterer
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The German political class is totally confused by "European community" "European solidarity"   They have jettisoned any real perception of the everyday life of their voters or of the future consequences of this "Rettungspaket." 

Mon, 02/27/2012 - 12:55 | 2200762 Ghordius
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perhaps because the numbers are so huge that they dwarf the comprehension of most?

have you noticed how many times news anchors have trouble with millions, billions and trillions?

Mon, 02/27/2012 - 14:52 | 2201108 Ahmeexnal
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Greece is not the one being bailed out.
It's the eurobanking mafia that is getting bailed out by the german taxpayer (and the greek taxpayer, and...the world taxpayers).
When are the sheeple going to wake up?

Mon, 02/27/2012 - 12:56 | 2200774 TradingJoe
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"All the above" slaughterer and the fact that they too have been bought and paid for just like all other "politicians" from all over the "totally and utterly broke" world!

Mon, 02/27/2012 - 13:33 | 2200908 slaughterer
slaughterer's picture

I also distinctly heard a "Nancy Pelosi-esque" turn of phrase from the mouths of these Teutonic DC counter-parties.  It is as if they all studied their political rhetoric through DVDs of Nancita's speeches.    

Mon, 02/27/2012 - 14:57 | 2201141 Nussi34
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Do again all the established parties voted yes. There is no paet on the most important question of the time that reflects the pnion of the people.

So I will vote far roght next time: NPD. Let´s see what Merkel says then.

Let´s bring their sick socialistic dream of a European superstate down!

Mon, 02/27/2012 - 12:58 | 2200779 DoChenRollingBearing
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Poor Germany.  I really feel for them.  They are going to pay most of the bills, while the the rest of Europe parties on.

Sometimes, it looks like being the more responsible ones are the ones get shafted the worst.  

There is no justice.  Sigh.

Mon, 02/27/2012 - 13:01 | 2200796 Uchtdorf
Uchtdorf's picture

If I make a mistake, I pay for it. If somebody else makes a mistake, what the heck?!, I pay for that, too. It's the new justice system.

Mon, 02/27/2012 - 13:17 | 2200850 slaughterer
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Problem: Germany got itself dirty with peripheral bonds.

Is the solution really for Germany to get itself even more dirty with peripheral bailouts?

Even Merkel, with her "safe harbor" statement today, seems to be admitting between the lines this will only lead to a catastrophic "Schweinerei". 

Mon, 02/27/2012 - 13:19 | 2200861 fightthepower
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How does it happen that a politician votes against the wishes of 80% of the voters.  This is just like TARP in the US.  Are the politicians blackmailed or threatened?



Mon, 02/27/2012 - 13:25 | 2200881 Ms. Erable
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I think the word you're looking for is 'owned'.

Mon, 02/27/2012 - 14:52 | 2201110 Ahmeexnal
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Mon, 02/27/2012 - 13:33 | 2200905 dracos_ghost
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There just vassals for the Church of Bank of International Settlements.

Mon, 02/27/2012 - 13:37 | 2200924 slaughterer
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Exactly.  These German politicians had two days to read through 700 pages for the Greek "Rettungspaket" they voted on today.  How many do you think managed that?  It is as if the ghost of "Honk Paulson"   were speaking through Merkel as she gloomily assessed the unknown unknowns of not passing the "Rettungspaket."   History repeating itself as farce. 

Mon, 02/27/2012 - 13:46 | 2200953 lolmao500
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I bet 90% didn't even bother to start reading the bill. Too busy with male hookers pissing on them, you know.

Mon, 02/27/2012 - 14:13 | 2201014 kanenas
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The Greek MP had 1 evening to read 1000 poorly translated  pages. Now, who do you call lazy uh? /sarcasm off

Mon, 02/27/2012 - 14:25 | 2201040 jumblies
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>How does it happen that a politician votes against the wishes of 80% of the voters

As I recall there wasn't a whole lot of support for the Iraq war but even after 1m+ of us marched in London our beloved Tony "JPMorgan owns my sphincter" Blair effectively said "i'm doing god's work" before launching 10+ years of humanitarian suffering.

Mon, 02/27/2012 - 16:23 | 2201475 EuroSovietSerf
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The interests of the politicians are not the interests of the people. You see, the Eurocrat elites are so determined to abolish parliamentary democracy and establish a EuroSoviet Union, they will let nothing stop it.

They know full well, if Greece leaves, it will be better off within 2 years. And they fear this. Because if Greece leaves and is seen better off, the peoples of Ireland and Portugal and perhaps Spain may want to leave as well, thus bringing the 'project' of the Eurosoviet Union crashing down. The elites are determined to stop this from happening because they want to sideline democracy and give all powers to the Politburo (European Commission) and the Duma (European Parliament). This has been the goal from the get-go in 1957. They will not be deviating from this one iota. And all the while, they employ the main stream media to propagandize on their behalf with semi-threats like 'collapse if Euro disappears', 'default means genocide' and 'we must rescue or else World War IV' (WW III was the 'Cold War').

This is what this whole 'show' of the last 3 years has been about, 'saving the project' ie saving their dream of ending parliamentary democracy and re-establishing pre-1914 rule by decree with a mutually appointed elite taking the place of the old hereditary elite.

Mon, 02/27/2012 - 22:19 | 2202434 malek
malek's picture

"Confused" would imply that the (majority of the) political class still has good intentions towards their constituents, not towards CYA.

I very much doubt that.

Mon, 02/27/2012 - 12:49 | 2200739 knight99
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Everyone knew this was going to pass. The real question is PSI and CAC. Will they get 75% participation dont know but they will have to use CAC which will have to trigger CDS. So no German tax collectors because Greece won't be in the Euro much longer.

Mon, 02/27/2012 - 12:58 | 2200780 Sandmann
Sandmann's picture

Funny that, the Redcoats in the American Colonies were press-ganged soldiers from Hesse and Kassel

Mon, 02/27/2012 - 13:07 | 2200813 lolmao500
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Mon, 02/27/2012 - 12:44 | 2200713 GeneMarchbanks
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Classic. Let the absurdity commence.

Mon, 02/27/2012 - 12:45 | 2200720 Comay Mierda
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thank god.  its all fixed now.  time to buy more AAPL

Mon, 02/27/2012 - 12:45 | 2200721 Ghordius
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approval - applause - may the dance continue...

schweinehundez, truthinsunshine!

Mon, 02/27/2012 - 12:45 | 2200722 Azannoth
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"496 IN FAVOR, 90 AGAINST" - This soo (NOT) reflects the sentiments of the German people(especially taxpayers)

Mon, 02/27/2012 - 12:52 | 2200750 oogs66
oogs66's picture

80% of politicians in favor - 80% of citizens against

Mon, 02/27/2012 - 12:55 | 2200765 Vergeltung
Vergeltung's picture

yeah, that's what I thought as much for representative democracy......


Mon, 02/27/2012 - 12:57 | 2200778 Ghordius
Ghordius's picture

there are elections next year... elections next year...

who knows what will move the political will then?

Mon, 02/27/2012 - 14:06 | 2200996 Rynak
Rynak's picture

Who cares..... the only party in germany who rejected the quick introduction of the EMU, the bailout crap, and first mentioned the option of default....

....would itself be unable to run a balanced budget..... but for the benefit of the lower-to-middleclass..... until germany too is insolvent.

In german party system, you vote for suicide by elite-spendogasm, or suicide by lower-class spendogasm.

Mon, 02/27/2012 - 13:23 | 2200836 Don Birnam
Don Birnam's picture

"80% of politicians in favor - 80% of citizens against"

The 2008 "TARP" farce produced virtually identical ratios in the United States. American taxpayers were ultimately brought to heel then, as have their German counterparts today. 

Mon, 02/27/2012 - 13:31 | 2200899 lolmao500
lolmao500's picture

99% of Americans were against the bank bailouts. I remember congressmen receiving a thousands call against the bill for each supporting it.

Senate vote : 74% voted for it.

House vote : 60.5% voted for it.

Even after this... The stupids voted for Obama and McCain, who both voted for this crap...

Not to mention, 2008 house reelection rate : 94% Senate reelection rate : 83%... yeah people were so pissed they reelected their crooked representatives...

People are fucking stupid.

Mon, 02/27/2012 - 14:11 | 2201009 Ace Ventura
Ace Ventura's picture

In general I agree with you. However, don't be surprised that one of the BIG reasons the same sheissters keep getting elected is NOT because they're actually winning a numeric vote count during elections. Rather, they are winning an electronic, massaged, adjusted, passed-along, non-transparent, secret-location numeric vote count.

In other words, in the elections where there is real power at stake....the results are already decided for you. Thus, you have unbelievable scenarios like con-gress voting against 90% of their constituencies, while 70-80% of them who voted that way....miraculously manage to retain their seats.

What's that saying? "If voting really changed anything, it would be illegal."



Mon, 02/27/2012 - 14:12 | 2201011 Rynak
Rynak's picture

Ignoring RP, what would be their alternative? Not voting?

Surely the most integer approach, yes.... but would it in the short-term change your stats, which only count votes, but not non-votes? IIRC, USA was that nation where the majority of the population does NOT vote, right?

So i'd say.... the majority of americans are already past "voting", and are now in the "inaction and ignorance" spectrum

Mon, 02/27/2012 - 12:59 | 2200786 TheHamburglar
TheHamburglar's picture

What I have realized in the past decade or so is that representative democracy fails almost every single time to represent the will of the people. Now whats amazing about this is that the people don't get mad about it, and continue electing and supporting fake assholes. Why do people like romney and santorum, who spend more time working on their physical appearance rather than their campaign platform get the kind of support they do?

Mon, 02/27/2012 - 13:33 | 2200906 lolmao500
lolmao500's picture

Screw representative democracy. There should be referendums on every bill. People who can vote have to pass a test every 8 years. Same test for everyone in the country.

Mon, 02/27/2012 - 15:03 | 2201174 Nussi34
Nussi34's picture

Only every third German is not jobless, retired, government employed...

Mon, 02/27/2012 - 15:54 | 2201391 Bansters-in-my-...
Bansters-in-my- feces's picture

Was it supposed to?

Mon, 02/27/2012 - 12:45 | 2200726 Dick Darlington
Dick Darlington's picture

Hook, line and sink. Tax payers, put your palms on the hood of the bailout wagon slooooowly. U abt to be mishandled by the central planning mega-dildo. Again.

Mon, 02/27/2012 - 12:47 | 2200731 slaughterer
slaughterer's picture

Ok, so are we good on selling this news? 

Mon, 02/27/2012 - 12:58 | 2200781 TradingJoe
TradingJoe's picture

it appears so! not much of a move, yet! i guess our "traders" still "digest" the news :)))!

Mon, 02/27/2012 - 13:39 | 2200859 slaughterer
slaughterer's picture

Next bullish event: LTRO take-up!

Next bullish event: initial PSI take-up!

Then, the worm (Elliott) works its way in. 

C'mon worm, show your ugly little head. 

Mon, 02/27/2012 - 12:46 | 2200728 maxmad
maxmad's picture

Default on March 23rd!!!  Here it comes!!

Mon, 02/27/2012 - 12:48 | 2200733 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Tax collectors are the cover for the real reason to bailout Greece, which is that the Europonzi needs to leverage Greece's gold to balance all of the shitty liabilities they have.

Mon, 02/27/2012 - 12:52 | 2200748 MsCreant
MsCreant's picture

Gold collectors...hmmm.

Mon, 02/27/2012 - 13:04 | 2200802 Stoploss
Stoploss's picture

Funny how the first thing that was siezed was the gold huh? They made a bee line straight for the gold, and ran their grandmother over to get to it. This aint no bailout fest. This here is all out unabated, give 2 shits, global gold confiscation in high gear...

Mon, 02/27/2012 - 13:36 | 2200920 Ghordius
Ghordius's picture

hemmm... a possible claim has been agreed on it. I seriously doubt we will ever see eurozone warships in Pireus loading up the Greek gold

           when it comes to gold, it get's easy to focus the attention - and possession is...

Mon, 02/27/2012 - 12:52 | 2200751 Ghordius
Ghordius's picture

the voices in my head say the Greeks want to stay in that currency that has more gold reserves per capita than Greece, though - Greece's gold hoard is tiny

Mon, 02/27/2012 - 12:51 | 2200737 The Big Ching-aso
The Big Ching-aso's picture



"Hans, the only problem I see with the second bailout is how do we get broke Greeks to pay it back?"

Overheard in a restroom stall at the German Parliament


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