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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
slaughterer's picture

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
Ghordius's picture

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
Ahmeexnal's picture

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
TradingJoe's picture

"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
Nussi34's picture

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
DoChenRollingBearing's picture

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
slaughterer's picture

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
fightthepower's picture

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
Ms. Erable's picture

I think the word you're looking for is 'owned'.

Mon, 02/27/2012 - 14:52 | 2201110 Ahmeexnal
Ahmeexnal's picture


Mon, 02/27/2012 - 13:33 | 2200905 dracos_ghost
dracos_ghost's picture

There just vassals for the Church of Bank of International Settlements.

Mon, 02/27/2012 - 13:37 | 2200924 slaughterer
slaughterer's picture

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
lolmao500's picture

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
kanenas's picture

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
jumblies's picture

>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
EuroSovietSerf's picture

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
knight99's picture

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
lolmao500's picture


Mon, 02/27/2012 - 12:44 | 2200713 GeneMarchbanks
GeneMarchbanks's picture

Classic. Let the absurdity commence.

Mon, 02/27/2012 - 12:45 | 2200720 Comay Mierda
Comay Mierda's picture

thank god.  its all fixed now.  time to buy more AAPL

Mon, 02/27/2012 - 12:45 | 2200721 Ghordius
Ghordius's picture

approval - applause - may the dance continue...

schweinehundez, truthinsunshine!

Mon, 02/27/2012 - 12:45 | 2200722 Azannoth
Azannoth's picture

"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


Mon, 02/27/2012 - 12:50 | 2200741 slewie the pi-rat
slewie the pi-rat's picture

the finimini was right!


Mon, 02/27/2012 - 12:59 | 2200788 Ghordius
Ghordius's picture

slewie, did you know that he was a honest-to-God-bring-back-Silesia-back-to-the-Vaterland-firebrand before?

Mon, 02/27/2012 - 13:30 | 2200896 slewie the pi-rat
slewie the pi-rat's picture

L0L!!! it seems odd at first

but he's still waving that vaterland-firebrand, isn't he?

Mon, 02/27/2012 - 13:39 | 2200929 Ghordius
Ghordius's picture

look, for all the Dr. Strangelove aura he has, he is seriously smart - and (careful, big word incoming) a true patriot

no, I would not advise to take him lightly... of all the eurocrats, he really has a plan - or more than one

Mon, 02/27/2012 - 14:26 | 2201041 slewie the pi-rat
slewie the pi-rat's picture

at least he can count votes!

Mon, 02/27/2012 - 12:51 | 2200746 Gomie
Gomie's picture

Another perfect setup: Open the market lower on "uncertainty" (even though it was never uncertain), then rally on the vote! Works like a charm for what seems like the 100th time.

Mon, 02/27/2012 - 13:09 | 2200823 sasebo
sasebo's picture

Right on -----

And just think how many stupid assholes bought in to it ------ more loot for bonuses.

Mon, 02/27/2012 - 12:53 | 2200753 SmoothCoolSmoke
SmoothCoolSmoke's picture

Is every politicain, everywhere, bought and paid for?  

Mon, 02/27/2012 - 12:56 | 2200766 MsCreant
MsCreant's picture

How else do they get elected?

Mon, 02/27/2012 - 12:59 | 2200785 Sandmann
Sandmann's picture

YES ! If they don't play ball Merkel and the Party Machine will destroy them. The SPD voted for War Credits in 1914

Mon, 02/27/2012 - 13:01 | 2200795 Ghordius
Ghordius's picture

true, and they argued the French and the Russians would just have to pay for the war...

Mon, 02/27/2012 - 14:03 | 2200988 Vince Clortho
Vince Clortho's picture

Only the ones who are still breathing.

Mon, 02/27/2012 - 12:54 | 2200761 SmoothCoolSmoke
SmoothCoolSmoke's picture

Odd thing is...... no pop on the vote.  I would have thought this was the "nail down 13K"  event.

Mon, 02/27/2012 - 12:55 | 2200763 Eurogroup
Eurogroup's picture

A word of advice to our Greek friends. DON'T MENTION THE WAR!

Mon, 02/27/2012 - 12:56 | 2200770 adr
adr's picture

Wow 100 points up in minutes once again. The news stories couldn't even keep up with it. STOCKS UNDER PRESSURE is still the lead hedline on CNBS. I am sure it was actual people buying and not algos with instant wired NY Fed cash.

Mon, 02/27/2012 - 12:56 | 2200773 MsCreant
MsCreant's picture

Bankrupt Sea.

Mon, 02/27/2012 - 13:01 | 2200794 MsCreant
MsCreant's picture

No credit "event" no CDS trigger being pulled, today. That gun has to be scary to have everyone willing to participate in this dog and phony pony show. 

Vee vill vote for stahhhhbillleeteee and praahspeareeeteee.

Like hell!

Mon, 02/27/2012 - 13:23 | 2200872 GeneMarchbanks
GeneMarchbanks's picture

Ha! They have you still believing there's a 'trigger'.

Mon, 02/27/2012 - 13:58 | 2200973 MsCreant
MsCreant's picture

Explain yourself MrGeneMarchbanks Sir!

Mon, 02/27/2012 - 13:10 | 2200826 YesWeKahn
YesWeKahn's picture

Solidarity, unity, patriotism  are the words mostly used before a real agression.

Mon, 02/27/2012 - 13:12 | 2200830 taniquetil
taniquetil's picture

Oh good.


This should last us into next week.

Mon, 02/27/2012 - 13:43 | 2200943 Zero Govt
Zero Govt's picture


the March Hare.. mad as hatters this lot

Mon, 02/27/2012 - 13:22 | 2200868 Dorky
Dorky's picture

The main keyword remain "Rothschild".

Red Shield, the main cause of all global conflicts.

Mon, 02/27/2012 - 13:28 | 2200891 Esculapius
Esculapius's picture


Chirurgie gelungen, Patient tot,,,ach, Scheisse !

Mon, 02/27/2012 - 16:08 | 2201433 noses
noses's picture

The patient died? Hey, that permits us to sell the organs to the highes bidder.

Mon, 02/27/2012 - 13:32 | 2200902 Winston Churchill
Winston Churchill's picture

Never in human history have so many been robbed by so few.

Mon, 02/27/2012 - 13:33 | 2200911 j0nx
j0nx's picture

The German people are bitches just like the Americans and the Irish. Their people are all too concerned with football and reality tv (or the German equivalent) to get off the couch and protest/riot against the corrupt bankster/politician duopoly that has infested western finance. The people are still wayyy more scared of their government than the government is of their people. When that changes, IF that changes then look out...

Mon, 02/27/2012 - 13:35 | 2200916 tunaman4u2
tunaman4u2's picture

Honestly all this talk about Germany balking at this deal & its a 5 to 1 landslide pro bailout? This CLEARLY isn't the last bailout

Mon, 02/27/2012 - 13:41 | 2200936 Zero Govt
Zero Govt's picture


Euro Translation: Full Steam Ahead for a Public Train Wreck

Mon, 02/27/2012 - 13:42 | 2200941 walküre
walküre's picture

Online poll at has 77% voting AGAINST the bailout. Financial Times readers have nothing to gain from high treason.

Mon, 02/27/2012 - 13:44 | 2200949 Zero Govt
Zero Govt's picture

whoever said Merkel is toast is just not in touch with public sentiment

Mon, 02/27/2012 - 13:46 | 2200955 carbonmutant
carbonmutant's picture

The people are not part of the "Machine"...

Mon, 02/27/2012 - 13:51 | 2200960 Spaceman Spiff
Spaceman Spiff's picture

So the march 8th default is off?

Mon, 02/27/2012 - 13:53 | 2200964 NoTTD
NoTTD's picture

Gee, that was close!  Good thing we watched that carefully.   Now we can move on to those other hard-core holdouts the Dutch and the Fins.  I'm sure they'll fight just as hard.   Maybe they, too, will breach the mighty 15% level of resistance.  I'm not sure why anyone acts like any individual state member of this mockery will suddenly grow a pair. 

Mon, 02/27/2012 - 14:46 | 2201092 navy62802
navy62802's picture

Let the Germans dig their own graves.

Mon, 02/27/2012 - 14:52 | 2201099 John Wilmot
John Wilmot's picture

Every couple of weeks for how many years now we get a story to the effect of: "O my God, the [insert name of EU country] government might not pass the [insert name of newest bailout scheme], and then the EU will collapse! Will they or won't they?!" And the result each and every time (with the notable exception of Iceland), is that the government passes the new measures, saving the EU.

Can't you folks recognize that this is all a FARCE? No government will EVER refuse to pass the newest suicidal bailout scheme. All their huffing and puffing is for domestic consumption: when the people of Germany are overwhelmingly against more bailouts, the German government has to humor them and pretend that it was a real hard choice to do another bailout.

This thing is a done deal, barring an outright revolution with bank-shill heads on pikes. Wake me up when they get to selecting the 'national' anthem for the U.S. of Europe...

Mon, 02/27/2012 - 15:00 | 2201153 slaughterer
slaughterer's picture

They already selected that anthem, it is a European variant of the well-known hymn "America Fuck Yeah -- Team America"

Mon, 02/27/2012 - 15:07 | 2201194 John Wilmot
John Wilmot's picture

Fuck yea! Enough with all this "founders" bullshit, Thomas Jefferson, pffft. "O, stop torturing me I'm not a terrorist..." Pussies...Let's go ahead and make this our national anthem in Amerika. And it comes with a complementary lobotomy, and a life-time supply of Brawndo. Woo hooo!



UA..S..what? Ah, fuck it!

Mon, 02/27/2012 - 16:11 | 2201442 thewhigs
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q5251355's picture

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