Germany Backs EFSF Expansion With 523 Votes In Favor, 85 Against; EUR Sells On The News

Tyler Durden's picture

The German "TARP equivalent" EFSF expansion vote has passed with a resounding majority of 523 votes For and 85 Against. Obviously this was largely priced in judging by the rapid sell off in the EURUSd on the news. And now, back to focusing on the structural failure of the Eurozone which no vote can fix.

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papaswamp's picture

Slaves bitchez!

be back here in December when the whole thing starts all over again....Greeks immediately celebrate, pack the uzo and head for the beach.

Popo's picture

Watch oil priced in Euros.  It's going to crush them.

GetZeeGold's picture


All Greeks are cleared to head to the beach.....all Germans are cleared to head to the factory.......we're adding an hour to your workday.

Greeks love the beach....Germans love to work. Everyone's happy.


Thomas's picture

"Poor people form a rich country giving money to rich people from a poor country." Alternatively, bankers raping and pillaging. They shoot horse thieves don't they?

Weisbrot's picture




about 500 billion euro debt expansion europe wide - not just Germany - debt spread out, semi shared by all european nations ALREADY PRICED IN


one heck of a slippery slope though



covert's picture

interesting............ there is hidden danger here


sushi's picture

Man, ZH is fast with the news! 

Gandalf6900's picture

whats new people...need imput

swissaustrian's picture

Big surprise, not!

All this unfounded fear mongering about a German NO was nonsense. Merkel even got enough votes from her ruling coalition.

sabra1's picture

if you were threatened with suicide, your family included, what would you do?

swissaustrian's picture

Sure. But I remember some sensationalistic articles here at ZH that speculated about a German NO followed by a coalition breakup. Such "news" really hurts ZHs credibility... 

Peter Pan's picture

Agreed unless the opposition of voters to these extensions are also false or do not mean anything to their parliamentary representatives.

AnAnonymous's picture

Such "news" really hurts ZHs credibility...


Made me laugh. US citizens never stop.

On the contrary, it once again validated their credibility as a good provider of US cheap propaganda.

It is a for profit blog and there is a market for selling the possibility that a no would have emerged.

Your denial is a bit big to swallow: checking the vote, 500 + for, less than 100 against.

When one is able to capture an audience by claiming that a no vote is possible on such ground, high credibility.

Now, indeed, US citizens have a taste for cheap propaganda but still it is a remarkable deed.

swissaustrian's picture

I´m from Switzerland and I knew it would pass.

But I agree, the US posters here at ZH have no clue about Europe. 

Catullus's picture

Very true. US posters know nothing about Europe. And neither do Europeans.

Ahmeexnal's picture

Some of us knew it would pass. It's no coincidence that the vote was made right smack in the middle of Oktoberfest.
And if needed, Oktoberfest festivities will be extended yearlong so as to prevent the sheeple from revolting.

The results of the vote were exactly as predicted. Why? Because this is not about "bailouts". This is about neo-colonization by rich imperialist countries. No wars this time, just clean debt. Until someone wakes up. Then it'll get ugly. Really fucking ugly.

Dingleberry's picture

I'm an American. I went to public school, so I'm not that bright.  But let's see if I understand Europe: endless war interrupted by (relatively brief) periods of peace, along with the occasional bouts of genocide. The peace currently enforced by your local neighborhood superpower, the good ol' USA, after having to bail them out not once but twice in less than a century when shit hit the fan.  Of course, europeans hate the USA, except when the Germans get out of hand.  Looks like a 4th reich is coming yet again, as Europe is now basically Germany plus a dozen or so poodles, yorkies and chihuahuas masquerading as nations.  Do I have a good understanding???   

AnAnonymous's picture

Germans, US citizens, French and English, for the most of them are german.

jm's picture

Speak up about this pre-vote next time.

So easy to take a piss...

JOYFUL's picture

Well I'm Archie Bell from Houston TEXAS...n lemme be the one who suggests that you all  "Tighten Up"  my baguette eatin brothers....cause this Eurotrash 'poseur' crap just doesn't cut it here - we be an International COMMUNITY of folks what care enough to pass opinions about stuff -you can't dance to the floor vibe - there's the door-you free to leave take your accordion with you!

mirac's picture

" take your accordion with you!"

cracked me up!

NotApplicable's picture

Sounds like my teenage daughter, "You don't understand me at all!"

Meanwhile, I knew something would pass as soon as Obummer gave Merkel a prize. Everything since, is merely political theater.

edotabin's picture

What is there to have a clue about?  You make Europe sound like it needs some kind of special perspective.

The PTB have decided this will become one, contiguous trading bloc.  No amount of screaming, bitching, whining or truth will ever change that.

The end.

ISEEIT's picture

The possibility of merkel failing to achieve coalition backing was real. Everyone understood that the legislation would pass. So what? All this does is buy a bit of time. The upper house will sign-off on this crap as well, again, just buying time. In the end it will not matter. The pain will come.

AnAnonymous's picture

The possibility of merkel failing to achieve coalition backing was real.


Yes and?

You did not read what I wrote.

I wrote about selling the possibility.

A no vote is always a possibility. Now the possibility sells better when it looks very likely.

All the credit to this site to have managed to sell a possible but very unlikely outcoume.

With in mind that US citizens demand for this kind of shit... But at least, there was some market investigation job done.

faustian bargain's picture

If all anyone did was report on the probable, and not the merely possible, then the world would be covered in black swans.

I'm not sure what your problem is with this site. If you think you can make it better, stop being a snarky jerk and try to improve things. If you're just here to fluff up your puny ego by trying to insult your projected image of 'Americans', I suggest getting some therapy.

gwar5's picture

Speaking of propaganda, how's that whole European Union and Euro thing working out for you just 4200 days later?



Vergeltung's picture

my understanding was a 75% DISAPPROVAL of this amongst the German Volk. So, perhaps the sentiment of a NO vote was based upon that.


AnAnonymous's picture

Big surprise, not!

All this unfounded fear mongering about a German NO was nonsense. Merkel even got enough votes from her ruling coalition.


It was no surprise. As it is no surprise US citizens demand for propaganda denying the most obvious to come exists.

There is a market for selling that the vote would have given a "no"

faustian bargain's picture

'unfounded', not.

'fear mongering', not.

what is there to fear about economic accountability and responsibility? Indeed, the 'fear' factor is greater now than it was before. The threat of a continuation of Ponzi schemes is the real nightmare here.

papaswamp's picture

My bad...not through my first cup of 1 remaining brain cell isn't up yet.

JOYFUL's picture

Actually, it's not doin half bad: they're heading to the beaches with Uzis to welcome their new er, partners;  it's part of the goodies packet that came with the (not so anymore) secret defense pact  GPap signed with the Golem.

  Unlimited refills on armaments, (watch as Greece steps down from Nato committments) plus a huge horde of funny money (brought to you by way of the drug pipeline what all the goyboys been dying to protect since Gulf War1)

In return, the talmudists get unlimted access to Greek Island bases, open a second front on the Turks, and the much needed alternate flight path which will take the armaggeddom delivery of those big bunker busters OBomba handed over courtesy your tax $ to a place that rhymes with Barbara Ann(if you're twisted enuff!)

No, I think you doin pretty good...maybe put your hand to writing a screenplay sequel to 'On The Beach'  ...with your powers of prediction after that second coffee, who knows what cinema verite you could produce!



Peter K's picture

And now what? Answer: Leverage baby:)  

New shooter, coming out..........

jmcadg's picture

This is yesterday's news. The key is the leveraging of these funds to €2T. If they pass that, then we're fucked.

KlausK's picture

They don't need to "pass" that. They will just do it.

jdelano's picture

Constitutionality? Referendum?

KlausK's picture

They already announced that the law will be adjusted to fit. Don't forget: Those people make the laws, too.

jdelano's picture

god you're an idiot.  no they didn't, and no they don't.  

Panafrican Funktron Robot's picture

"Constitutionality? Referendum?"

Who's the idiot?  What on earth is causing you to think either concept is relevent or really at play here?

jdelano's picture

Exactly--these article titles are very misleading. Evidently the tylers are sucking wind on their pms. This vote has fucking NOTHING to do with "euro TARP" these votes are nothing more than a formality to ratify the 200bil addition settled on in July. I used to come here to get away from the SPIN. Now same shit, different URL.

citta vritti's picture

it's lke Robin Williams in Good Morning, Vietnam -- rip something off the teletype and throw it out there as click porn, diddit, da, ditda, dit (whatever). Sadly, I'm all too ready to click and have the Tylers do my thinking for me. Then the rest of you guys come along and tell me to think for myself. Lots of links to the side to provide other perspectives, and wham, the markets have moved. So much easier when QE2 was going strong. Hmmm, maybe it's going to come around again - Fred Bergsten in NYT saying cheap dolla will help create jobs. God help us, because we can't do it ourselves. 

TradingJoe's picture

Bundestag, the lower House, voted, now Bundesrat, the upper House, will vote tomorrow, has to "confirm" the vote, that's where Angie is going to run into major trouble!
Besides, 400x Billion ain't enough anyways, so this political theatre ain't over either!
Me stay short and short some more, buy more Physicals and all them other much needed items for "protection":)))!!!

papaswamp's picture

Might get pinched today as the markets will go nutty since more debt is good mentality rules. When this bill comes due there are going to be some serious crying.

Don Diego's picture

the politicians that voted "no" are traitors as well, TPTB have asked them to play the good guys so that they will have established their good credentials toward the people, so that they can continue screw the people.

Smiddywesson's picture

Absolutely great observation DonD.  Yes, TPTB will ALWAYS have their minions on both sides of each and every controversial issue so that they always have a useful pawn to push forward no matter the result. 

The Axe's picture

I am going to the gym, I can't watch my bloomberg terminal another day   I getting motion sickness