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German Press: "The Greek Exit Is A Done Deal"

Tyler Durden's picture





 

Did France, Italy and Greece think they are the only ones who can float strawmen in the media? No. Once again, Germany shows us how it is done. From Tomorrow's edition of Deutsche Wirtschafts Nachricthen: "The Greece-exit is a done deal: According to the German economic news from financial circles EU and the ECB have abandoned the motherland of democracy as a euro member. The reason is, interestingly, not in the upcoming elections - these are basically become irrelevant. The EU has finally realized that the Greeks have not met any agreements and will not continue not to meet them. A banker: "We helped with the Toika. The help of the troika was tied to conditions. Greece has fulfilled none of the conditions, and has been for months now." So more posturing? Or is Germany truly just so sick and tired of bailing out not just Greece (which pockets between 0% and 20% of any actual bailout cash), and indirectly French banks which as of this moment are the biggest pass thru beneficiaries, and of course the ECB with its tens of billions in old par GGB holdings, that this article is, gasp, founded in reality? Is Europe approaching its own Lehman moment when everyone says "just screw it", and let the dice fall where they may? Many said Lehman could never be allowed to fail. They were wrong. Just as many are saying that Europe will never let Greece leave as the costs to the continent are just too great. Well, judging by tonight's epic fiasco of a Euro-summit, the last thing we would attribute to Europe's leaders is clear and rational thought.

Full article, google translated:

The loud sounds of the left-politician Tsipras were just the straw that has brought the camel's back. In the EU, the ECB and the IMF have been completed with the issue. Greece must get out of the euro, it is generally agreed across all sectors. The information contained in the former central banker and technocratic Prime Minister Lucas Papademos had delivered. He had enough time to convince the one hand, the full extent of the calamity, and also by the unwillingness of the parties to save money. Basically, his tenure was a fact-finding mission on behalf of the EU. His conclusion: Mission Impossible. About the consequences, there are different views: the central bankers do not want to pay more because they see that the whole is a bottomless pit. The politicians, led by Angela Merkel reluctant yet. As always there are the politicians advocate the status quo, because they fear nothing more than the unknown. And there are unknowns with a Euro exit any quantities.

It begins with the question: How does it work really practical? An outlet to see the EU treaties before any more than one eviction. For safety reasons, both the ECB and the Bundesbank formed crisis teams that are preparing now as the commanders on various contingencies. A small consolation is believed to have, because the debt incision was made, and therefore actually is a direct contamination of the banks as rather unlikely. Although this may not confirm officially Banker: The unofficial interpretation is that the risk of infection by the average debt "significantly reduced" was.

Most debts are now in the public sector - ie the ECB and the IMF. In the case of a state bankruptcy of Greece on the Target 2 system, the German Bundesbank would be taken immediately. Altogether, it is so appreciated, are the Greeks with 200 billion euros at the ECB and the IMF in debt. Therefore, all of which are currently very careful with scenarios: One does not want to be in the cards look. And as even the most amicable divorce in the end always haggled over the cost. Even the ECB and the IMF want to see their money again. They need the cooperation of the Greeks. A representative of the public sector: "When it comes to the discharge, the creditors will negotiate with the debtor. The creditors have no interest that the debtor is no longer on the legs. "

However, the debtor to cooperate with the creditors, some skirmishes will be fought. The Greeks would say, then we throw it out once - we do not pay but not our debt.

This game can not last for long. Since Greece can take no money in the capital markets, Greece must cooperate with the Troika. Without money, the country is very fast at the end: it can pay its civil servants no longer afford no energy, public life threatens to spiral out of control.

Right here wants to start the Troika: The next installment is due in June, there will be only when the Greeks come up with a fairly reasonable exit plan. Until then, the ECB can keep up with their financial instruments, the Greek banks so far over water, not everything falls apart.

At the same time it is hoped the troika that the ESM is surprising, because then enough money is available to prevent the contamination of other states. Because you can answer a question no one, like a of involved banker says: "We all know not whether it comes after the withdrawal of the Greeks to a domino effect or whether it really is the great liberation has been." There is always some require "discretionary action" of the ECB to keep the situation under control. In plain German: As some will have to be printed on money, so the crash can not go but even the whole euro zone in the air.

 


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Wed, 05/23/2012 - 21:10 | Link to Comment FLUSA.com
FLUSA.com's picture

you say goodbye and i say hello...hello hello... (deadbeats)

Wed, 05/23/2012 - 21:22 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Great song...

On another note, the blame game for FarceBook continues...

http://www.bloomberg.com/news/2012-05-23/facebook-said-to-have-talked-with-nyse-about-switching-exchange.html

LMAO!!!

Oh yeah, because if they did their IPO on the NYSE they would have their $1 Trillion company!! Sorry suckers... Wall Street is DONE... retail investors have risen from their comas!! NO SOUP FOR YOU!!

And back to your regular programming...

I heard yesterday from a family member in Germany that rumors were circulating that a "deal" was struck and within 48 hours Greece would have the "option" to leave. Wow, might have been true!

Wed, 05/23/2012 - 21:27 | Link to Comment Troll Magnet
Troll Magnet's picture

what the hell, man? i thought they fixed everything?

Wed, 05/23/2012 - 21:35 | Link to Comment idea_hamster
idea_hamster's picture

They did, but in the way you "fix" a dog, not the way you "fix" a broken car.

Wed, 05/23/2012 - 21:37 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Correction:

They did, but in the way you "fix" a card game, not the way you "fix" a broken car.

Wed, 05/23/2012 - 21:41 | Link to Comment dlmaniac
dlmaniac's picture

"If one PIIGS flies, all will." / Ben Davis.

Wed, 05/23/2012 - 22:14 | Link to Comment Paul Atreides
Paul Atreides's picture

"Oh please Mr. Snitchzelface we want bailouts without austerity" meanwhile we have more useless elections and continue default...Geeeenus

Wed, 05/23/2012 - 22:34 | Link to Comment StateofFraud
StateofFraud's picture

Here's the link to Mr. Panos: http://youtu.be/Zvl9N9GdraQ

Wed, 05/23/2012 - 21:46 | Link to Comment garypaul
garypaul's picture

idea_hamster: any relation to Danger Mouse?

Wed, 05/23/2012 - 23:08 | Link to Comment HD
HD's picture

Danger Mouse - wow, that takes me back...

As to Greek exit, I'm sure it will be fine. When the algos drop the market 1000 points and then rebounds 20, we'll be "off the lows" and that's all that matters - right Bob and Maria?

Wed, 05/23/2012 - 21:48 | Link to Comment Arnold Ziffel
Arnold Ziffel's picture

Hamster: Is it true Richard Gere just ordered another gross of Hamsters?

 

...just wondering.....

Wed, 05/23/2012 - 22:04 | Link to Comment Meatballs
Meatballs's picture

Gere likes Gerbils.

Wed, 05/23/2012 - 23:51 | Link to Comment eatthebanksters
eatthebanksters's picture

It's amazing to me that they had to 'fix' Greece or it would sink the economic system, yet now they have figured out that saving Greece will sink the economic system.  My guess is that the bankers would continue to suck the life blood out of the EU if they thought they could get more, but now that the political reality is the people  of Germany saying no more bailout money, the banks have decided to cut their losses.  There never was a fix and the banks knew it.

Wed, 05/23/2012 - 21:40 | Link to Comment johngaltfla
johngaltfla's picture

They did. Then they found out the Bernank, Brits, and Berlin (not Broads, Buicks, and Buckly) would not print the $4 trillion they need.

This is going to tip the U.S. into a rather nasty recession in Q2/Q3.....

Thu, 05/24/2012 - 06:34 | Link to Comment Mitzibitzi
Mitzibitzi's picture

The perfect excuse to enact all those presidential Emergency Powers, eh?

Wed, 05/23/2012 - 21:53 | Link to Comment PersonalRespons...
PersonalResponsibility's picture

They did, but that was then and this is now.

Wed, 05/23/2012 - 21:57 | Link to Comment A Lunatic
A Lunatic's picture

It was like that when I got here. Must have broke all by itself............again................

Wed, 05/23/2012 - 22:22 | Link to Comment AbelCatalyst
AbelCatalyst's picture

Bank runs may not be a black swan (BS), but it will most certainly take this ship down... We've all been waiting for the BS to show up, but all we needed was to look back in history - the classic bank run is under way...

Greeks hit the banks en masse, banks close, and when the stories start to come out of Greece that people can't get their money to feed their families, other countries do the same... Rinse, wash, repeat... Then the printing begins in earnest, but the panic is there, commodities spike, the world spins into darkness...

But as long as the leaders of the world got to watch their little soccer match at Camp David this weekend then it's all good!! Someday history will look back at that picture in total disbelief that that is what they were doing just days prior to the beginning of the collapse!

Hail the BS bankrun from Europe!!

Thu, 05/24/2012 - 19:42 | Link to Comment jerry685
jerry685's picture

Bank runs are here ....at least bank jogs...wonder who came up with that term.

Not so sure about the printing......The Central banks may be ready ....they have had a while to prepare too...

Can kicking may be over....might be time to face the music...

 

Global depression might just be what it takes to get the Unfed the permenant charter they want in the US..

Wed, 05/23/2012 - 21:28 | Link to Comment Global Hunter
Global Hunter's picture

OT but the B-side to Hello Goodbye was I am the Walrus which seems like a bit of a travesty in and of itself

Wed, 05/23/2012 - 21:32 | Link to Comment jus_lite_reading
jus_lite_reading's picture

AHHHH YES! As high as a kite... and it all made sense!! Koo koo kachoooooooooo!!!

Wed, 05/23/2012 - 21:32 | Link to Comment in4mayshun
in4mayshun's picture

The end is nigh bitchez!

Wed, 05/23/2012 - 21:33 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

Grexit, stage left. 

Wed, 05/23/2012 - 21:53 | Link to Comment Global Hunter
Global Hunter's picture

Where else can I come to find breaking economic news mixed with references to Rush?  This is bringing back memories of the day my parents allowed me to use the record player (and quite a collection of vinyl they had)

Thu, 05/24/2012 - 00:09 | Link to Comment GeorgesamaBushLaden
GeorgesamaBushLaden's picture

"Big money got a heavy hand... Big money take control... Big money got a mean streak... Big money got no soul..."

"...But the Oaks (EU/Banksters) can't help their feelings if they like the way they're made; and they wonder why the Maples (PIIGS) can't be happy in their shade..." 

Thu, 05/24/2012 - 01:56 | Link to Comment poor fella
poor fella's picture

The clouds prepare for battle
In the dark and brooding silence.
Bruised and Southern* stormclouds
Have the light of day obscured.
Looming low and ominous
In twilight premature
Thunderheads are rumbling
In a distant overture...

 

Jacob's Ladder - Rush

*Thought Southern in this case was a good replacement for 'sullen'...

Thu, 05/24/2012 - 03:50 | Link to Comment THX 1178
THX 1178's picture

I thought it was a Snagglepuss reference.

Wed, 05/23/2012 - 21:41 | Link to Comment Michael
Michael's picture

In my wildest of imaginations I congered a plan that would destroy the world banking oligarch structure by their own hands.

I taunted them to pile on gargantuan amounts of un-payable debt day and night for 15 years. I relied on their huge egos to prove I was wrong and they performed admirably.

The self destruct sequence has been initiated and there is no fail-safe. Complete and total worldwide economic collapse is the only way to solve our most tyrannical problems.

 

Wed, 05/23/2012 - 21:45 | Link to Comment jus_lite_reading
jus_lite_reading's picture

You forgot one itsy bitsy tinnie weeny consequence of this great plan... WWIII and depopulation of tens of millions...

Wed, 05/23/2012 - 21:52 | Link to Comment Michael
Michael's picture

It's only money, nothing to get upset about.

Thu, 05/24/2012 - 01:56 | Link to Comment MayerRothschild
MayerRothschild's picture

It's only fiat paper money, nothing to get upset about.

 

Fixed...

Thu, 05/24/2012 - 03:51 | Link to Comment THX 1178
THX 1178's picture

"WWIII and depopulation of billions..." there fixed it for you.

Thu, 05/24/2012 - 01:00 | Link to Comment eatthebanksters
eatthebanksters's picture

Or debt forgiveness...which is worse?

Wed, 05/23/2012 - 21:49 | Link to Comment Stoploss
Stoploss's picture

Surely JPM has no exposure to this....... Right?

 

Jaime?

Fuzzy?

Wed, 05/23/2012 - 22:07 | Link to Comment Freddie
Freddie's picture

If only Mark David Chapman had s**t Yoko - there would have been a reunion and we would have been saved from Sir Paul's solo shit.

Wed, 05/23/2012 - 21:11 | Link to Comment Cursive
Cursive's picture

 

The EU has finally realized that the Greeks have not met any agreements and will not continue not to meet them.

If true, then dumbest motherf*****s on the planet.

Wed, 05/23/2012 - 21:26 | Link to Comment jus_lite_reading
jus_lite_reading's picture

I know, I still have tears in my eyes from reading that and literally ROTFLMAO!! You can't make this shit up!! Seriously!!

I'd have to be piss drunk off Belvedere and taking 50cc of full strength morphine to believe ONE SINGLE word from ANY EU politician... liars and thieves, just like the US... GAME OVER!!

Wed, 05/23/2012 - 22:26 | Link to Comment Joe The Plumber
Joe The Plumber's picture

Just now realized greece would never comply?

I shit all over myself after reading that one!

Thu, 05/24/2012 - 07:00 | Link to Comment Winston Churchill
Winston Churchill's picture

Can't find any heroin ?

Wed, 05/23/2012 - 21:12 | Link to Comment BeetleBailey
BeetleBailey's picture

Jeez Louise...this is akin to a crappy B movie that rambles on...when 90% of the audience knows the ending already.

Greece will exit the Euro. The Euro will go on. Banks will take a pounding short term, then the ECB will print money (bonds, thin air ka ka/all of it), and everything will swept under the rug.

The Drachma will re-appear. Greeks will live.

Ta Da.

Wed, 05/23/2012 - 21:30 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Not quite... if only it were that simple they would have done it long ago. Germany has a lot riding on Greece holding the Euro down at 1.30 handle (besides other things ;) ... ) and they know the word already on the street is contagion... hearing "whispers" of bank runs in Portugal now. Only a matter of time before the whole theater is in flames!! GAME OVER

Wed, 05/23/2012 - 21:13 | Link to Comment Dr. Engali
Dr. Engali's picture

Let the games begin.

Wed, 05/23/2012 - 21:43 | Link to Comment Melin
Melin's picture

Let the games end.

Thu, 05/24/2012 - 01:18 | Link to Comment prains
prains's picture

Let the games go on indefinitely or until there is war

Thu, 05/24/2012 - 06:40 | Link to Comment Mitzibitzi
Mitzibitzi's picture

They better get on with it! Be difficult to have a decent war when 9/10th of your population are starving to death.

Wed, 05/23/2012 - 21:13 | Link to Comment monopoly
monopoly's picture

I have no idea how this plays out when Greece exits the Euro. But I do know I am not selling any of my gold or silver. Lets rock!

Wed, 05/23/2012 - 21:21 | Link to Comment Marginal Call
Marginal Call's picture

Hopefully the gold / Euro link will be shattered.  I still can't wrap my head around how the dollar is any better vs. gold when the euro tanks.

Thu, 05/24/2012 - 00:08 | Link to Comment post turtle saver
post turtle saver's picture

Because petro-dollar backed by unprecedented insanely huge military/industrial complex governed by a federal republic, that's why.

Remember Saddam Hussein? You know, Spider Hole Guy? The guy who stated in 2000 that he wanted to be paid in euros for his oil? Anyone here remember what happened when he started spitting that mad BS and threatening to give Euro countries a leg up on contracts? Anyone?

The euro started dying when the tanks rolled into Baghdad and we made Pakistan our staging area bitch for taking over Afghanistan. Anything after that was just the inevitable process unfolding.

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

Thu, 05/24/2012 - 07:19 | Link to Comment youngman
youngman's picture

Today is Silver expire day and next week is Gold expire day....so the New York Boys and banks with the HFT's willl keep it down...because they have no metal to settle...

Wed, 05/23/2012 - 23:07 | Link to Comment StateofFraud
StateofFraud's picture

Here is the play: panic move into $. gold/oil fall. buy the (big) dip. People realize dollar is still stinking pile, fed pumps. $ index resumes downward trend. gold/oil rise in response. okay?

Wed, 05/23/2012 - 23:07 | Link to Comment StateofFraud
StateofFraud's picture

doubletap

Wed, 05/23/2012 - 21:13 | Link to Comment pupton
pupton's picture

Proofreading...fucking proofreading. Please.

Wed, 05/23/2012 - 21:14 | Link to Comment Tyler Durden
Tyler Durden's picture

Just what part of "Full article, google translated" is confusing?

Wed, 05/23/2012 - 21:31 | Link to Comment disabledvet
disabledvet's picture

because you left out the German phrase "NOW BUY FACEBOOK YOU DUMKOPF" in your so called translation. i'm outraged myself. and i'm calling my Congressman...to see how his a lot ment is treating him.

Wed, 05/23/2012 - 21:33 | Link to Comment jus_lite_reading
jus_lite_reading's picture

You are a terrorist if you don't own FarceBook!! 

Wed, 05/23/2012 - 22:33 | Link to Comment Yen Cross
Yen Cross's picture

FaceF**k is / FantasyLand...   800 million false {identities} and growing!

Wed, 05/23/2012 - 21:37 | Link to Comment A Lunatic
A Lunatic's picture

Jeebus Tyler, you mean you don't have time to learn German?  LOL

 

 

Wed, 05/23/2012 - 21:42 | Link to Comment Global Hunter
Global Hunter's picture

Who that guy is that thumbed you down cums hear for the grammer?

Wed, 05/23/2012 - 23:41 | Link to Comment Central Bankster
Central Bankster's picture

I honestly didn't understand the translation by google.  Can someone translate this a little better?  perhaps just the "bolded" parts would help.

Thu, 05/24/2012 - 01:59 | Link to Comment Cosimo de Medici
Cosimo de Medici's picture

Regarding Google translation, that there is much work to be done, clear to anyone, is.

Thu, 05/24/2012 - 03:59 | Link to Comment Grimbert
Grimbert's picture

I find German on Google translate worse than other languages. The word order must for a computer a nightmare be.

Thu, 05/24/2012 - 06:43 | Link to Comment Mitzibitzi
Mitzibitzi's picture

Nah, it translates German brilliantly. Just read the translation with the mental 'Yoda' voice and it makes perfect sense.

Thu, 05/24/2012 - 06:31 | Link to Comment Forgiven
Forgiven's picture

The english is cleary whacky throughout the whole article, for example: "The loud sounds of the left-politician Tsipras were just the straw that has brought the camel's back."

That idiomatic expression has been butchered...unless the vampire squid has taken their camels!  ;) 

Wed, 05/23/2012 - 21:30 | Link to Comment ThaBigPerm
ThaBigPerm's picture

0_o

What one of the Tylers just said

Wed, 05/23/2012 - 21:29 | Link to Comment Zgangsta
Zgangsta's picture

It's okay.  You'll learn from this and do better next time.

Wed, 05/23/2012 - 23:10 | Link to Comment John_Coltrane
John_Coltrane's picture

"'Tis better to have no comment and be thought a fool than to comment foolishly and remove all doubt"

Wed, 05/23/2012 - 21:16 | Link to Comment Coke and Hookers
Coke and Hookers's picture

"The EU has finally realized that the Greeks have not met any agreements and will not continue not to meet them."

I don't buy that. Everybody has known that from the beginning. If this is indeed happening, it's something else. Probably some sort of damage control panic thing. Look for the MSM trying to spin Greek exit as a good thing for the eurozone in coming days. Greek exit will be bullish tomorrow instead of disaster today.

Wed, 05/23/2012 - 21:23 | Link to Comment Global Hunter
Global Hunter's picture

give up Greece to focus efforts on "saving" Spain or Italy? (or JPM)

Wed, 05/23/2012 - 22:38 | Link to Comment Doña K
Doña K's picture

Not possible. the die is cast. IMHO the Irish are next.

Wed, 05/23/2012 - 21:42 | Link to Comment FinalCollapse
FinalCollapse's picture

Yup. At this point of time the Germans got tired of bailing out the French banks while Greece burns.

Greece exits. Panos for president. Drahma gets cheap and Greek feta cheese sells all over the world. Germans keep their money. Greeks get to screw the visiting German bitches. The media focus is on Greece and away from Spain and Italy. French - who cares...

Winner!

Wed, 05/23/2012 - 21:34 | Link to Comment Vince Clortho
Vince Clortho's picture

You must have peeked at the CB playbook.  The summit was not about keeping Greece in the EU.  The summit theme was how to manage the spin and play this event for the maximum possible gain for the parasites.

Wed, 05/23/2012 - 22:23 | Link to Comment Coke and Hookers
Coke and Hookers's picture

The EU commission is now suggesting transforming the EU into further economic and political union and issuing eurobonds. Apparently, Hollande likes that so it's back on the table - which means a lot of arm twisting going on in Germany. I think they will try that regardless of whether Greece exits or not. Problem reaction solution. Don't let crisis go to waste.

Edit: That makes sense too because they'll need all hands on deck bailing out the banks when they take the Greek exit hit. Economic union is EU newspeak for 'forced payments from members to banks' in this case.

Wed, 05/23/2012 - 23:19 | Link to Comment Evil Bugeyes
Evil Bugeyes's picture

The departure of Sarkozy and entrance of Hollande breaks the Franco-German alliance. France becomes an adversary instead of a partner. So from the German point of view the situation is deteriorating badly. Time to think seriously about exit plans and cutting losses.

Germany is holding all the cards. I doubt Hollande will have much luck in his arm twisting.

Wed, 05/23/2012 - 21:15 | Link to Comment sunnydays
sunnydays's picture

It is about time the truth comes out.  Let the fall out be as it may.  All I can say there will be two winners at the end of it all and the are Gold and Silver

Wed, 05/23/2012 - 21:17 | Link to Comment Hossboxer
Hossboxer's picture

haven't the markets already priced in a greek exit? i feel like they probably have

Wed, 05/23/2012 - 21:22 | Link to Comment web bot
web bot's picture

The problem is not the markets... its the banking system and the spread of contagion. #uck the markets... 89% of all trades are done by robots.

Wed, 05/23/2012 - 21:23 | Link to Comment pemdas
pemdas's picture

Agree.  The Greek economy is the same size as Mississippi.  Would the world be in an uproar if they were going off the dollar?  The day Greece leaves, the market will probably be up 300 points.

Wed, 05/23/2012 - 21:31 | Link to Comment Dr. Engali
Dr. Engali's picture

Remind me again.... How big was Lehman ?

Wed, 05/23/2012 - 21:41 | Link to Comment A Lunatic
A Lunatic's picture

The real question is how much political expedience was priced in.........

Wed, 05/23/2012 - 22:06 | Link to Comment Calmyourself
Calmyourself's picture

Remind me how many derivatives tied into Miississippi's economy?  The point is this, no more dumb money to bailout Greece ( French banks) but enough to ring fence and firewall them and show what happens to a country in the euro proper that messes with the banksters.

Wed, 05/23/2012 - 22:20 | Link to Comment Joe The Plumber
Joe The Plumber's picture

The germans see ringfencing and surviving the grexit as a one time expense.

But subsidizing the piigs is forever

Wed, 05/23/2012 - 21:32 | Link to Comment Global Hunter
Global Hunter's picture

Well if Alabama, Georgia, Tennesse and Florida were all teetering Mississippi leaving would be huge

Wed, 05/23/2012 - 22:09 | Link to Comment brettd
brettd's picture

Lord knows, many there would like to!

Wed, 05/23/2012 - 22:27 | Link to Comment Coke and Hookers
Coke and Hookers's picture

Wrong. The euro banking system is leveraged up to 70:1. If Greek exit results in a loss of 5% of their assets, they are done for and the whole system goes down like a stunned pig.

Wed, 05/23/2012 - 21:24 | Link to Comment surf0766
surf0766's picture

Priced in. Down 150 on Greek fears before the bullshit rumor machine started up again. Nothing is priced in until after the event happens.

Wed, 05/23/2012 - 21:36 | Link to Comment khakuda
khakuda's picture

Dont bet on it. Lehman was gone in September of 2008 after a long decline and the market tanked for the next four months as the inter connections became clear.

Wed, 05/23/2012 - 21:44 | Link to Comment A Lunatic
A Lunatic's picture

Thank God that can never happen again thanks to the quick thinking and oversight of our Government. It's good to know that our own house is finally in order..............

Wed, 05/23/2012 - 21:21 | Link to Comment web bot
web bot's picture

This is like sitting in the back of a plane and its going down with no engines... get ready for a rough, rough landing. This is not going to be pretty.

Contagion is going to get messy... real messy.

 

 

Wed, 05/23/2012 - 21:35 | Link to Comment Joebloinvestor
Joebloinvestor's picture

Kind of like the Peruvian crash where they ended up eating each other.

Wed, 05/23/2012 - 21:40 | Link to Comment web bot
web bot's picture

Yep - once they're done with Greece, then on to Spain, Portugal and Ireland. I think Italy will be left alone because over 50% of debt is held by Italians... sort of a Japan scenario.

Wed, 05/23/2012 - 21:45 | Link to Comment A Lunatic
A Lunatic's picture

Plus, you just don't screw around with the Mafia.

Wed, 05/23/2012 - 22:01 | Link to Comment delacroix
delacroix's picture

vatican

Thu, 05/24/2012 - 02:06 | Link to Comment anonnn
anonnn's picture

You likely mean 1972 Andes crash of Uruguayan airplane carrying rugby team.Several days afyter the crash, with recognition of some food hoarding and other selfish acts, the entire group agreed that their best chance to survive was to havee total fairness, because it was ck]lear anything less would cause chaos.

Yess, there was some eating of already-dead bodies.

A first-person account, Miracle In The Andes by Nando Parrado is an awesome account of his and others' physical and spiritual struggles. Very reccoomended reading.

Thu, 05/24/2012 - 02:21 | Link to Comment anonnn
anonnn's picture

Read this summary of the incident:

http://en.wikipedia.org/wiki/Uruguayan_Air_Force_Flight_571

Then read Parrado's book. He rites only of what he knows first-hand and by actual experience. Itis so applicable to the human condition. Then and now.

 

Thu, 05/24/2012 - 07:25 | Link to Comment youngman
youngman's picture

Just don´t buy his follow up cookbook....

Wed, 05/23/2012 - 21:22 | Link to Comment surf0766
surf0766's picture

They were only playing for time anyhow. Kicking the can allowed them time to prepare. Time to put new boarder rules in place with the ability to close the boarders for 30 days or so. If they are now letting greece go they must think that are prepared enough. Time will tell. More time for us to prepare.

Wed, 05/23/2012 - 22:08 | Link to Comment Calmyourself
Calmyourself's picture

Repel boarders...  At the boarders, you damn hoarders.

Wed, 05/23/2012 - 22:17 | Link to Comment Joe The Plumber
Joe The Plumber's picture

Dont want no damn greek boarders

Go seek habitation in ur own country you lazy happy greeks

Wed, 05/23/2012 - 21:24 | Link to Comment Keith Piccirillo
Keith Piccirillo's picture

It was only a bit coarse as it was in his mother language.

Wed, 05/23/2012 - 21:25 | Link to Comment ghenny
ghenny's picture

All will be well.  A very wealthy Europe cand deal with this and the problems with Portugal, Ireland, Spain and Italy as well.  It just means at some point the printing presses will need to get the Euro down to parity with the US dollar and the top 10% in Europe will have to pay much higher taxes for the next decade.  This is all very possible.  The beneficiary will be the US stock market.  The wealth in Europe who are able to conceal vast amounts of money will pour it into the US market.  Thank you Europe.  

Wed, 05/23/2012 - 21:31 | Link to Comment Vince Clortho
Vince Clortho's picture

and the tooth fairy will leave a quarter under your pillow.

Wed, 05/23/2012 - 23:00 | Link to Comment Overfed
Overfed's picture

To go with the grease in his ass...

Wed, 05/23/2012 - 22:09 | Link to Comment Calmyourself
Calmyourself's picture

Gosh Ghen, that sounds really swell so I should be loading up on FB and retail.. great plan thanks..

Wed, 05/23/2012 - 23:45 | Link to Comment Central Bankster
Central Bankster's picture

Incorrect if history is a predictor of the future: they are going to be pulling money OUT of US markets because their standard of living is threatened and fear causes people to seek safety, IE cash (even if we see the dangers of cash here at ZH).

Wed, 05/23/2012 - 21:25 | Link to Comment riphowardkatz
riphowardkatz's picture

posturing. Germany exits not Greece.

Wed, 05/23/2012 - 21:35 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Or France.... now that would make my day!!

Thu, 05/24/2012 - 07:28 | Link to Comment youngman
youngman's picture

I have been thinking Germany too....this is going to go on for years....and cost trillions....why not pull out now...let France destroy the Euro...while germany becomes the new Swizerland...strong...they will still export...but a 20% cut is better than a 200% increase in costs

Wed, 05/23/2012 - 21:28 | Link to Comment fourchan
fourchan's picture

the greeks are john gault.

Wed, 05/23/2012 - 21:30 | Link to Comment Keith Piccirillo
Keith Piccirillo's picture

The Northern countries will have to show the Southern countries a Greek alien autopsy to dissuade them from getting the same idea.

Wed, 05/23/2012 - 21:36 | Link to Comment pleseus
pleseus's picture

Billions Lost. Massive debt deflation. Bullish. Risk on. Facebook to $ 100.00 a share

Wed, 05/23/2012 - 21:39 | Link to Comment geewhiz190
geewhiz190's picture

somebody writes something in some newspaper no one's ever heard of and its "German Press".  and this crowd is all in

Wed, 05/23/2012 - 21:49 | Link to Comment Global Hunter
Global Hunter's picture

Where there's smoke there's fire

http://www.telegraph.co.uk/finance/financialcrisis/9286309/Debt-crisis-Germany-holds-a-gun-to-Greeces-head.html

There was confusion in Brussels over leaks that EMU finance ministry officials had agreed in a meeting on Monday – allegedly in the name of Eurogroup executives – that each state should draw up a national plan to cope with a Greek exit.

Thu, 05/24/2012 - 00:38 | Link to Comment Alpacanio
Alpacanio's picture

Lol. I laugh at the thought of the EURO countrys coming up with any solution for anything! This will not end well.

Wed, 05/23/2012 - 22:13 | Link to Comment Joe The Plumber
Joe The Plumber's picture

We can always dream cant we?

Hope springs eternal?

Hurry up and collapse my popcorn is getting stale

Wed, 05/23/2012 - 23:01 | Link to Comment Overfed
Overfed's picture

'Cause we all know how reliable and truthful the mainstream media are.

Wed, 05/23/2012 - 21:39 | Link to Comment Trimmed Hedge
Trimmed Hedge's picture

So how soon will we be seeing $45 FB again??

 

Askin' for a friend...  ; )

Wed, 05/23/2012 - 21:50 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Teach your friend the difference between nominal and real returns.

If USD down, not long.  If USD up, maybe never.  We are all currency traders, now.

Wed, 05/23/2012 - 22:27 | Link to Comment Freebird
Freebird's picture

Agreed Horse

Wed, 05/23/2012 - 22:40 | Link to Comment Doña K
Doña K's picture

After the reverse split of 10/1 when it gets to $4.50

Wed, 05/23/2012 - 21:40 | Link to Comment Piranhanoia
Piranhanoia's picture

But wait;  no money went to the people of Greece,  it only went to prop up their banks that owed Germany money.  So the noise is coming from the anal sphincter because it sounds better than the truth.

Wed, 05/23/2012 - 22:05 | Link to Comment brettd
brettd's picture

The banks get money because it replaces the money they lent to "the people" which is not being repaid.

"The People" already got their money.

Thu, 05/24/2012 - 13:31 | Link to Comment miltiadis
miltiadis's picture

are you a Bankster?

Wed, 05/23/2012 - 21:45 | Link to Comment chump666
chump666's picture

And the  borderline communist mania in Spain should prompt Germany to kick Spain out too. 

Pending if Germany has the balls to now begin to slowly kill off the ECB and EU

Last gasp of fools (Spain):

--Rajoy calls for ECB to support sustainability of governments' debt
--Says the EU will have to discuss euro bonds and role of ECB
--Says EU needs to send message euro is irreversible

 

Wed, 05/23/2012 - 21:44 | Link to Comment Conman
Conman's picture

On that note ES futures ramp up. Weee, up up and away to the moon we go.

Wed, 05/23/2012 - 21:45 | Link to Comment Fantasy Planet
Fantasy Planet's picture

A whole country living in a van down by the river!

Wed, 05/23/2012 - 21:59 | Link to Comment Marginal Call
Marginal Call's picture

Heh, we've got the same guy for an avatar.

Wed, 05/23/2012 - 22:53 | Link to Comment Fantasy Planet
Fantasy Planet's picture

Your avatar shames him.  My avatar conveys respect and dignity for the most talented individual in entertainment history. 

Wed, 05/23/2012 - 22:02 | Link to Comment Ineverslice
Ineverslice's picture

Killin' me!  Chris Farley, David Spade and Applegate.

Wed, 05/23/2012 - 21:55 | Link to Comment Arnold Ziffel
Arnold Ziffel's picture

ZH is soooo good....

Muchas gracias for the education every day......

Wed, 05/23/2012 - 21:58 | Link to Comment Melin
Melin's picture

I hope Greece adopts Laissez-Faire. 

Basically, the first economically ruined locale on Earth that sincerely shouts "Over here!!!  Over here!!! We're doin' Capitalism over here!!!" will be the wealthiest in human history in no time.

Thu, 05/24/2012 - 04:41 | Link to Comment THX 1178
THX 1178's picture

An invitation for every "private" bank in the world to come in and ruin everything with fractional reserve lending... and bribing the government... and other shenenigans. There is no solution. Humanity is fucked every which way from Sunday.

Wed, 05/23/2012 - 21:57 | Link to Comment MyKillK
MyKillK's picture

Yea right, as if they would make this decision before Bilderberg

Wed, 05/23/2012 - 22:01 | Link to Comment brettd
brettd's picture

Is the USA a safe haven for Euro refugees?

Wed, 05/23/2012 - 22:07 | Link to Comment Global Hunter
Global Hunter's picture

There may be some space in Camp Fee-mah but I don't know if that meets "safe" criteria

Wed, 05/23/2012 - 22:03 | Link to Comment Angel Face
Angel Face's picture

An exit over this (long) weekend would be par for the course.

Wed, 05/23/2012 - 22:10 | Link to Comment Joe The Plumber
Joe The Plumber's picture

I think the germans have known for over a year it wouldnt work but didnt want to be accused of breaking up the euro. If reggie and his small team of analysts figured out the numbers dont work, dont you think the bundesbank with all their resources couldnt figure it out also?

I think germany has been using this time to get ready for the grexit

Wed, 05/23/2012 - 22:11 | Link to Comment Go Tribe
Go Tribe's picture

This whole thing just has a Year 2000 smell about it. Lot of noise and eventually about nothing but the hucksters getting rich.

Wed, 05/23/2012 - 22:13 | Link to Comment world_debt_slave
world_debt_slave's picture

it's not over 'til the fat lady sings

Wed, 05/23/2012 - 22:18 | Link to Comment JackT
JackT's picture

Yasu Bitchez...Let's Roll

Wed, 05/23/2012 - 22:22 | Link to Comment bob_dabolina
bob_dabolina's picture

The French banking system is FUCKED.

If the Germans are for real...shit is about to get s.e.r.i.o.u.s

Wed, 05/23/2012 - 22:22 | Link to Comment Diablo
Diablo's picture

quoting a barely one year old blog "news agency" with barely 100 facebook followers? come'on dude.

 

Wed, 05/23/2012 - 22:32 | Link to Comment Global Hunter
Global Hunter's picture

Telegraph reported today that they're making contingency plans for the Grexit

Thu, 05/24/2012 - 00:41 | Link to Comment Alpacanio
Alpacanio's picture

Plans??? lol.

Wed, 05/23/2012 - 22:33 | Link to Comment Joe The Plumber
Joe The Plumber's picture

Shut up!

We are enjoying this!

Collapse, bitchez

Wed, 05/23/2012 - 22:52 | Link to Comment Diablo
Diablo's picture

sorry. didnt mean to disturb the circle-jerk. bring on mike baloney and max keiser to tell me how to crash JPMorgan by buying some silver coins next....bitchez. 

 

Wed, 05/23/2012 - 23:00 | Link to Comment centre.europe
centre.europe's picture

yo - sounding ghetto makes ur 1 inch dick little longer?

Thu, 05/24/2012 - 02:13 | Link to Comment MayerRothschild
MayerRothschild's picture

According to my ex-wife's husband you must call it a 'cock' to sound bigger...

Personally, I think the makes one sound like said cock.

Thu, 05/24/2012 - 04:47 | Link to Comment THX 1178
THX 1178's picture

Shouldn't MANkind want a really long name for it like "COSOOSIFAMPFOEOOFKMZOXOOOOOOOOOOOOADFAMIIIIIEOEPASODFKAFOCK"?

Wed, 05/23/2012 - 22:27 | Link to Comment tbd108
tbd108's picture

The Greeks will be alright. The Great Bear of the North, co-religionists for over a thousand years, will help them. The bloodsucking European banks can suck wind.

Wed, 05/23/2012 - 22:31 | Link to Comment Atomizer
Atomizer's picture

Central Planner's last turd thrown at the wall... 'So maybe I'll win, saved by Zero'

The Fixx -- Saved By Zero

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