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Germany Speaks: Not So Fast On The Greek "Deal"

Tyler Durden's picture




 

Europe's now painfully transparent policy of demanding that Greece decide to default on its own is becoming so glaringly obvious, we truly fear for the intellectual capacity of everyone who ramps the EURUSD on any incremental "europe is saved" rumor. As a reminder, yesterday we said, in parallel with the Greek irrelevant MoU vote: "The only real questions are i) what the Greek population may do in response to this latest selling out of a population "led" by an unelected banker, which if history is any precedent, the answer is not much, and ii) how Germany will subvert this latest event, and put the bail [sic] back in Greece's court once again." We documented on i) earlier today - a couple of burned down buildings, a few vandalized store fronts, lots of tear gas and that's about it, as people still either don't believe or can't grasp the seriousness of the situation. As for ii) we now get the first indication that not all may be well on Wednesday. From the FT: "European officials rushed to finalise details of a €130bn Greek bail-out on Monday amid signs Germany and its eurozone allies may not be prepared to approve the deal at a finance minsters’ meeting on Wednesday, despite Athens backing new austerity measures." And so the bail [sic] is once again back in Greece's court, where however since the last such occurrence, the parliament has 43 MPs less. Quite soon, the only person left in "charge" of the country will be the ECB apparatchick and unelected banker Lucas Papademos.

Germany's ulterior motives are so bright, we gotta wear shares:

One eurozone official said the group had come up with a list of at least a half-dozen items that Greece must accept before the deal will be moved to finance ministers for final approval on Wednesday.

 

The items on the list include, according to several officials, proof of the €325m in cuts, clarification on how Greece intends to reduce labour costs 15 per cent, and reassurance that all Greek leaders will back the deal – especially after Antonis Samaras, head of the centre-right New Democracy party and Greece’s presumptive next prime minister, indicated that he may try to renegotiate the pact after April elections.

But the biggest weakness? The very item we noted earlier this morning, namely that "Samaras Pledges To "Renegotiate" Bailout Pact After April Elections"

The parliamentary vote is important, but it’s not the be all and end all,” said another eurozone official. “Samaras’s explanations are shifty.”

So what is next up on deck: a "conditional" bailout of Greece.

If the German-led group of creditor countries emerges unconvinced, officials said lenders may turn to a plan B, where the bail-out is given “conditional approval” and is reassessed at the next scheduled meeting of eurozone finance ministers next week.

 

In that case, ministers would only give the go-ahead for a critical part of the new bail-out, a €200bn restructuring of privately held debt which must begin in a matter of days in order to be completed before Greece’s next bond comes due – a €14.5bn redemption on March 20.

 

To complete the voluntary restructuring, where private debt holders have agreed to cut their bonds in half, eurozone lenders must approve €30bn in new cash to serve as a “sweetener” for bondholders to participate.

So even as the fallback plan continues to be "baffle them with bullshit" literally every day, and delay, delay, delay, while America's seasonal adjustments somehow make it a self-contained economy in its own right, which no longer needs the benefit of the world's largest economy (and judging by the EURUSD traders out there, this just may pass), while slowly but surely everyone becomes convinced that it will be in everyone best interest just to let Greece go, and that everyone is sufficiently prepared for just that "contingency."

As was the case with Lehman... At least, until the Fed had to step in with a $20 trillion bailout to preserve the Western way of life of course.

 

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Mon, 02/13/2012 - 18:02 | 2155352 lolmao500
lolmao500's picture

Man up already and ask total control of Greek's finances. We know you want that, they know you want that... so say it's that or nothing bitchez!

Mon, 02/13/2012 - 18:05 | 2155360 Silver Bug
Silver Bug's picture

The German people know that Greece is a sinking ship. Save yourself Germany. Don't go down with the boat. It is a lost cause.

 

http://ronpaul2012blog.blogspot.com/

Mon, 02/13/2012 - 18:19 | 2155406 lolmao500
lolmao500's picture

It's not about money. It's about banksters control. They don't give a fuck about money, they print it.

Banksters : Give me total control over your economy and I give you this nice paper money.

Greece : Eh wait a second... it's just paper money you printed! Why would I become a slave and work in exchange for paper?

Banksters : that's how it works sheeple! Now shut up and pay me with interest!

Greece : Yeah but you only give me 230 billion! How can I pay you with interest if I don't own a printing press?

Banksters : Well you can't and that's the point!! Mwahahahahaha

Mon, 02/13/2012 - 18:37 | 2155464 toothpicker
toothpicker's picture

Crete (and maybe Lesbos) would do just fine for me

Mon, 02/13/2012 - 19:25 | 2155676 MarketWatchTerrorist
MarketWatchTerrorist's picture

Keyesian economics and fiat currency and blah blah...wait...

 

Isle of Lesbos?....

 

4 minutes later...what were we talking about?

Mon, 02/13/2012 - 19:30 | 2155696 trav7777
trav7777's picture

yeah no shit...Greece clearly doesn't at all grasp that their days of lounging in cafes and getting paid for it are over.  They are facing total economic collapse and having to live on what they can produce.

The EU should tell them to just fuck off.

Mon, 02/13/2012 - 19:55 | 2155779 trebuchet
trebuchet's picture

When it emerges that greece sent out €8/9bn(?) in fines for unpaid taxes, troika were happy, only later they found out that less than 1% were collected. 

 

Greece has ZERO trust with its partners, heck in their position they have EVERY incentive to squeeze as much out of the deal as possible and squirm as much out of their end of the bargain as possible. 

 

The Germans/EU are just learning the greek way of negotiating, and smartened up: Greeks have a saying "siga siga" which means literally "slowly, slowly" which also means take it easy, one step at a time..... 

the 20 MArch deadline, is not a hard deadline if someone puts 14 bn on the table, and then we kick the can down the road a bit more.... 

THIS IS EUROPE that is how the politics of business and business of politics is done. 

Why would EU and Greece want to sign up to a 130/150/160/+ + + ..... bailout now when you can convince people you are doing stuff with 30bn? and promises? and get some of those banks to take the first hit? 

and get everyone else running for the hills scared so they start coughing up money to the IMF? 

in 3-6 months, US "decoupling" + China "mild stimulus" + euro devaluation brings net exports back up, LTRO 1, 2, 3 have "fixed" liquidity problems,  EU data show its not in recession, downgrades look unnecessary, EFSF is up and running, playing ping pong with private sector holdouts plus there is a financial tax and so on to bring "banksters" into line. 

All they got to do is kick the can down the road till then, equity can wobble all it likes, gold can wobble all it likes, oil can wobble all it likes.

 

 

Mon, 02/13/2012 - 19:55 | 2155780 walküre
walküre's picture

Total economic collapse? Not really. They will have to adjust and downsize and all that but there's no total collapse of anything.

Iceland hasn't collapsed into anarchy either.

The truth of the matter is that when you show the banksters what you're made of, they come crawling back to the table and offer to make you a deal.

THEIR lives depend on US accepting THEIR paper for OUR hard work and products.

THEY contribute NOTHING OF VALUE. WE work day after day, so WE may be able to afford us a car, a house, a vacation typically paid with loans THEY give US from OUR efforts.

The term "bankster" describes perfectly well the true state of these parasites.

IT IS NOT THEIR MONEY!

Mon, 02/13/2012 - 20:18 | 2155852 trebuchet
trebuchet's picture

@walkure   (im too lazy to but the umlaut..... ) you speak for Merkel and Schauble I think  

[edit] what i was trying to say is that you expressed very clear insight and was trying to pay you a compliment but expressed it in the wrong way

This is the sentiment governing the moment of the day in Europe.... post Davos..... now who said that cocktail party is a waste of space?

Mon, 02/13/2012 - 22:45 | 2156234 walküre
walküre's picture

It's all on the table. People are paying attention and understanding that indeed, all is relative.

Banksters wealth, the elite, debt. It's all relative.

 

Mon, 02/13/2012 - 20:14 | 2155850 Eally Ucked
Eally Ucked's picture

you're realy fucked  as me with your brain a bit screwed

Mon, 02/13/2012 - 18:37 | 2155466 fourchan
fourchan's picture

the system is working perfectly all around the world.

Mon, 02/13/2012 - 19:26 | 2155682 MarketWatchTerrorist
MarketWatchTerrorist's picture

You're right, so long as you understand that the system is designed to destroy national sovereignty and bring about the New World Order.

Mon, 02/13/2012 - 18:40 | 2155476 aleph0
aleph0's picture

VERY ACCURATE & CLEAR ... well said.

Mon, 02/13/2012 - 18:55 | 2155539 ChrisFromMorningside
ChrisFromMorningside's picture

Those who haven't done so yet need to read up on the various historical forms of debt bondage and so-called 'peonage.' Individuals right here in the good ole U.S. of A were trapped into prolonged contractual relationships wherein they provided years and years of labor yet never managed to pay off their "debts," which were perpetually augmented by their "employer." Example: share-cropper tenant farmers who farmed land for 20+ years but never got out of debt because they had to purchase seed and other inputs from the company store at inflated prices that just so happened to coincidentally add up to more than the return from selling off the crops that were grown (sale of which was usually mediated by the company or landowner, leaving the laborer in the dark about the true market value). Think "pay day loans" and some forms of consumer credit.

This is the system that the financier elites are dragging the Western world back into. Except now they're placing entire nations into this perpetual debt bondage (Greece, soon Portugal). And the "consumerist lifestyle" that so many aspire to has brainwashed millions of others into *voluntarily* acceding into this relationship.

Meanwhile, deindustrialization and the rise of agribusiness has asset-stripped the U.S. and made it that much more difficult to opt out of these schemes and live independently (not impossible, I know many many here do it, but we're in the stark minority).

Mon, 02/13/2012 - 21:24 | 2156061 lolmao500
lolmao500's picture

Those who haven't done so yet need to read up on the various historical forms of debt bondage and so-called 'peonage.'

I like pownage instead!

Mon, 02/13/2012 - 18:23 | 2155427 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They can't bail Greece out because then they have to bail everyone out, but they have to do a bailout or else the Europonzi collapses. 

Catch-22 at its best.

Mon, 02/13/2012 - 20:26 | 2155886 TonyCoitus
TonyCoitus's picture

Then don't do a bailout, call it a stimulus!  Problem solved.

Mon, 02/13/2012 - 18:37 | 2155465 Piranhanoia
Piranhanoia's picture

The people of Greece know that Germany is sinking in it's own shit.  Save yourself Greece,  don't get on a boat that needs to be bailed out.  Fixed it for you.

 

Mon, 02/13/2012 - 19:57 | 2155790 walküre
walküre's picture

Correct. Germans will soon learn that their wealth is really very short term and that the banksters will come for them when they've bled everyone else dry.

Mon, 02/13/2012 - 19:18 | 2155655 MarketWatchTerrorist
MarketWatchTerrorist's picture

You still don't get it.  Greece is exhibit A in the E.U. power grab and its ultimate goal of destroying national sovereignty for all E.U. member states.

Mon, 02/13/2012 - 22:53 | 2156253 Buck Johnson
Buck Johnson's picture

Your correct, Germany knows it and have already put a moat (as far as they think) around their banks when Greece defaults.  In the Lehman case, if the Fed knew how much it would cause to let Lehman fail the US maybe wouldn't have allowed Lehman to fail.  We know that the dominoes will start to fall when Greece fails and the amount of CDS's that are outstanding is increadible.

Mon, 02/13/2012 - 18:27 | 2155436 ACP
ACP's picture

It's not a question of who's dump enough to ramp; the question is moot. It's who has a bunch of money that's not his and who has a giant ego with a chip on his shoulder:
Madman Bernanke.

Mon, 02/13/2012 - 19:22 | 2155667 MarketWatchTerrorist
MarketWatchTerrorist's picture

Correct.

 

It's actually not a very complex process, yet so few seem to "get it."

 

1. Lend money (fiat currency, of which you have infinite supply) to nations that you know will squander it.

2. Entangle those nations in your European Union/Euro zone

3. Eventually those nations have managed their economies so poorly, with your "free money" to help them along the way, that they come to the point of default

4. Drama

5. Offer to save them, if only they give up national sovereignty

 

What you people don't seem to understand, beyond even what I've just explained, is that how this Greece situation is resolved will likely decide the fate of the European Union and the New World Order itself.  As goes Greece, go all European Union nations...eventually.

 

So which is it, Europeans?  National sovereignty, preservation of national identity, and Democracy; or sacrifice of sovereignty, economic slavery, and subservience to the supranational European Union and New World Order - forever?

 

Make your choice, but this choice, once made, is quite permanent.

Mon, 02/13/2012 - 20:00 | 2155797 walküre
walküre's picture

How about making mortgage loans to illiterate people who can't even sign their own names?

You think there's a pattern there... ?

I know people who have PERFECT credit scores but they won't get loans unless they put up massive collateral. No rhym or reason.

Banks know FULL WELL who the most lucrative VICTIMS are!

Banks are no different than drug pushers roaming your local high schools.

Mon, 02/13/2012 - 20:15 | 2155853 MarketWatchTerrorist
MarketWatchTerrorist's picture

The banks are quite benign in the grand scheme of things.  It's the people using them as a weapon against Democracy and national sovereignty that are at issue.

Mon, 02/13/2012 - 18:05 | 2155359 Zola
Zola's picture

Europe is like an angry girlfriend who doesnt want to be the one to break up with you and makes your life more and more difficult until you dump her.

Mon, 02/13/2012 - 18:17 | 2155413 lolmao500
lolmao500's picture

Except the girlfriend is mind controlling you with a chip so you don't leave her and instead become her slave. (you know, like the unelected bankster running Greece now?)

Mon, 02/13/2012 - 18:40 | 2155478 maxmad
maxmad's picture

Except that your girlfriend is pregnant with your kid and you know she's got you by the ballz!

Mon, 02/13/2012 - 22:57 | 2156258 StychoKiller
StychoKiller's picture

"There must be 50 ways to leave your lover..."

Tue, 02/14/2012 - 04:38 | 2156718 The Navigator
The Navigator's picture

Like a Vampire Squid???? Where have I seen that before? Oh yeah, 2008! AIG, GM, GMAC (now Ally Bank, WTF???), GS Brokerage (now GS Bank,WTF??????).

Just take the WT out of WTF and now you know what you got, FUCKED.

Mon, 02/13/2012 - 18:05 | 2155363 cossack55
cossack55's picture

Yeah, USSA, USSA, we gots us at least 6 bankers in charge of the USSA. Take THAT Greece.

Mon, 02/13/2012 - 18:07 | 2155366 IdioTsincracY
IdioTsincracY's picture

This is what Greece gets after having been forced for years to spend 3%+ of their budget on military acqisitions coming mainly from France and Germany.

 

F@ck 'em all!!

Mon, 02/13/2012 - 19:28 | 2155687 MarketWatchTerrorist
MarketWatchTerrorist's picture

It was for protection.  Against sie Germans.  Oh wait...

Mon, 02/13/2012 - 20:03 | 2155813 walküre
walküre's picture

barely makes a dent in anyone's pocket.

but fooling a nation into endless wars and a constant state of panic with a false flag attack, billions in war spending and countless new alphabet organisations to spy on your own people, now that's worth considering.

Mon, 02/13/2012 - 18:06 | 2155367 francis_sawyer
francis_sawyer's picture

Lee Corso moment

Mon, 02/13/2012 - 18:27 | 2155438 maxmad
maxmad's picture

<as Lee puts on the Hitler bobble head>  Not so fast Greece!

Mon, 02/13/2012 - 18:06 | 2155369 ttown
ttown's picture

LMAO, extend and pretend. Hopium + QE to infinity and beyond. This market is a complete farce and a joke full of rampant fraud in compaines like CRM, PCLN, and AZO. Goodluck with that crap bagholders, ill keep my phsyical sivler!

Mon, 02/13/2012 - 19:17 | 2155652 ChrisFromMorningside
ChrisFromMorningside's picture

The bagholders will be ... whoever is depending on a 401K or a CALPERS-type pension to finance their retirement, along with the public treasury of the U.S. of A. These institutional players are the only ones still in the market. The retail investors have all either left the building or have nothing left to rob.

Mon, 02/13/2012 - 18:07 | 2155372 mayhem_korner
mayhem_korner's picture

 

 

They're just buying time for either (i) ISDA to ink a statement saying it would not be a "credit event", or (ii) the CDS-underwriting banks give them the thumbs up they've got it "covered."

Mon, 02/13/2012 - 18:12 | 2155387 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

$20 trillion will look like peanuts during the next round of collapse.

Mon, 02/13/2012 - 18:15 | 2155397 mayhem_korner
mayhem_korner's picture

 

 

$20 trillion will barely buy peanuts soon enough...

Mon, 02/13/2012 - 19:04 | 2155577 francis_sawyer
francis_sawyer's picture

Eat your PEAnutS...

Mon, 02/13/2012 - 22:32 | 2156217 BigJim
BigJim's picture

A trillion here, a trillion there... and pretty soon, you're talking real money.

Tue, 02/14/2012 - 04:43 | 2156721 The Navigator
The Navigator's picture

Yeah, like Quadrillions or Centillions - get used to THOSE numbers, we may be using them, or.................

Mon, 02/13/2012 - 18:15 | 2155401 falak pema
falak pema's picture

Even VGE, ex french President who promoted greek adhesion to Eu, also fathered the blueprint of the EU Constituion (which was never adopted), now says that it may be too difficult to keep Greece in Euro zone. So Greece loses its best advocate as member of Euro... bad sign.

Mon, 02/13/2012 - 18:37 | 2155462 Escrava Isaura
Escrava Isaura's picture

Falak, at least one in Germany knew what to do:

“Once the printing press stoppedthe prerequisite for the stabilization of the markthe swindle

would be at once brought to light…., the State itself was the biggest swindler and crook”

Adolph Hitler – Dying of Money page 14.

Mon, 02/13/2012 - 19:53 | 2155775 Babushka
Babushka's picture

good book 100%. Although Adolf was a bit of a kant and I don't mean philosopher ...

Mon, 02/13/2012 - 18:17 | 2155411 carbonmutant
carbonmutant's picture

DRYS is skyrocketing on the news of a bailout... and a positive BDI.

Mon, 02/13/2012 - 18:19 | 2155418 fonzannoon
fonzannoon's picture

Whats up with the BDI lately? Is everything fixed?

Mon, 02/13/2012 - 18:40 | 2155481 IndicaTive
IndicaTive's picture

CNBS says YES! Throwing charts up left and right for around 5 minutes this afternoon. Indeed, it is fixed.

Mon, 02/13/2012 - 18:43 | 2155491 Non Passaran
Non Passaran's picture

A small barge sunk somewhere - less capacity, bullish!

Tyler, I guess you meant "wear shades", not "shares"?

Mon, 02/13/2012 - 19:39 | 2155738 GiantVampireSqu...
GiantVampireSquid vs OWS UFC 2012's picture

Freudian slip

Mon, 02/13/2012 - 20:04 | 2155820 walküre
walküre's picture

It was partly a seasonal correction in prices. Let's see if it goes back to well over 1000. There is still no demand for anything out there.

Mon, 02/13/2012 - 18:17 | 2155414 EyeQ
EyeQ's picture

The NeverEnding Story (A troubled boy dives into a wonderous fantasy world through the pages of a mysterious book.)

 

This was a German story and it appears we are seeing The NeverEnding Story 2 (A troubled EURO ZONE dives into a wonderous fantsy world through the pages of the MSM.)

Mon, 02/13/2012 - 18:19 | 2155416 Dugald
Dugald's picture

The Greek National flag would mean more it is depicted

   Thalia & Melpomene......

Mon, 02/13/2012 - 18:18 | 2155417 scatterbrains
scatterbrains's picture

How long do we have to wait for Goldm.. I mean the EU aparatchick to declare Primae Noctis upon the Greeks?  

Mon, 02/13/2012 - 18:20 | 2155421 Peter Pan
Peter Pan's picture

There is more going on than meets the eye. Germany is not trying to impose conditions. She is instead trying to break the will of the Greek people. If she doesn't succeed then future measures will fail and other nations will seek to copy Greece.

Either that or Merkel stared into the bottomless pit of the Greek rescue bid and has now lost her nerve. She reakises that her voters will send her there if the rescue backfires.

Clearly the measures are back breaking and cannot succeed given the weakened state of the Greek economy.

If i was Grrece i would be printing so as to have some form of plan B. better still I would be using my last 5 billion to put in an order for silver that would send the markets in free fall.

Mon, 02/13/2012 - 18:47 | 2155510 Non Passaran
Non Passaran's picture

Your first theory is nonsense. Breaking the will doesn't make Germany any money. They just want to make sure everyone does what they committed to, that's normal. (I am NOT saying Greece should have done that, on the contrary, but they did!)

Mon, 02/13/2012 - 22:43 | 2156231 BigJim
BigJim's picture

You're conflating Greek politicians with the Greek populace. Yes, some of the latter voted for some of the politicians who borrowed the money (most of which was completely wasted) but why does that mean ALL the Greeks are on the hook for money that was created out of thin air via fractional reserve banking? Many of the people who will be expected to pay for this 'costless' money weren't even voters when the money was 'borrowed' and spent, and many of the voters who did benefit from it are now dead.

Majoritarian 'democracy' is a vicious farce. As George Bernard Shaw observed, "a government that robs Peter to pay Paul can always rely on the support of Paul."

Mon, 02/13/2012 - 19:58 | 2155794 trebuchet
trebuchet's picture

Please see my post above above can kicking

Mon, 02/13/2012 - 18:23 | 2155426 maxmad
maxmad's picture

Looks like they just ran out of road to kick the can on!

Tue, 02/14/2012 - 02:13 | 2156589 vh070
vh070's picture

And the can is getting heavier and heavier.

Mon, 02/13/2012 - 18:24 | 2155428 Manthong
Manthong's picture

Conditional bailout is OK as long as it is definite and it cannot be transitory.

Permanently conditional fits the European Banking requirement of not being mandatory.

Transitory conditional mandates imply certainty that precludes extending the conditions permanently. 

 

Mon, 02/13/2012 - 18:25 | 2155429 maxmad
maxmad's picture

I knew Angie wouldn't part with that money! 

Mon, 02/13/2012 - 18:26 | 2155435 maxmad
maxmad's picture

Just one question would you give your 30 year old son money if he refused to work and played video games all day?

Mon, 02/13/2012 - 21:27 | 2156074 johnnynaps
johnnynaps's picture

Only if he came to me and said "I disagree with phony wars, the FED, the dept. of justice, bailouts, our politicians and I refuse to support this beast and ponzi scheme anymore"!

Mon, 02/13/2012 - 18:32 | 2155446 Joebloinvestor
Joebloinvestor's picture

They are gonna end up paying Greece to leave the EU as long as it doesn't trigger the dreaded CDS.

How long can one "hold back the night?"

Mon, 02/13/2012 - 18:34 | 2155458 Alpacanio
Alpacanio's picture

You may have somthing there.

Mon, 02/13/2012 - 18:40 | 2155479 Piranhanoia
Piranhanoia's picture

thats what it's about.

Mon, 02/13/2012 - 18:33 | 2155447 Conrad Murray
Conrad Murray's picture

Shifty!

Mon, 02/13/2012 - 18:41 | 2155451 SwingForce
SwingForce's picture

The Eurozone is in shambles, and they are playing us for fools as we watch Banksterz 3 Card montie.    Its a CON GAME.

Mon, 02/13/2012 - 18:38 | 2155453 Texas Ginslinger
Texas Ginslinger's picture

Surely the ISDA is looking for every alternative to a default, which then triggers a credit event, which costs their masters (US banks) dearly in debt insurance payments.

Or they declare whatever happens a non-credit event.

As the European financial crisis worsened during the first half of 2011, U.S. banks increased sales of insurance against credit losses to holders of Greek, Portuguese, Irish, Spanish, and Italian debt.Guarantees provided by U.S. lenders on government, bank, and corporate debt in those countries rose by $80.7 billion, to $518 billion, according to the Bank for International Settlements.  Five banks—JPMorgan (JPM), Morgan Stanley (MS), Goldman Sachs (GS), Bank of America (BAC), and Citigroup (C) — write 97 percent of all credit-default swaps in the U.S., according to the Office of the Comptroller of the Currency. http://www.businessweek.com/magazine/us-banks-guarantee-more-european-debt-11032011.html

 

Mon, 02/13/2012 - 19:09 | 2155619 earleflorida
earleflorida's picture

JPMC & GS not to worry about, with BAC on the fringe - but, C & MS will certainly feel some pain

jmo 

Mon, 02/13/2012 - 20:34 | 2155906 Bringin It
Bringin It's picture

Let's hope so.

Mon, 02/13/2012 - 18:34 | 2155456 Newsboy
Newsboy's picture

Time for Global Jubilee yet?

No, not quite yet...

Mon, 02/13/2012 - 18:38 | 2155468 maxmad
maxmad's picture

Why would the Elites want that?

Mon, 02/13/2012 - 18:41 | 2155484 barliman
barliman's picture

 

Tyler

The question is not how many MP's are resigning.

The question is, "What is the resignation/retirement/sick rate of the Greek police forces?"

Why get your head bashed in today when you can wait for tomorrow (or next week) and only encounter token defensive measures?

PM Papademos must have great faith in his Black Helicopter showing up in the nick of time ...

barliman

Mon, 02/13/2012 - 19:04 | 2155584 Tao 4 the Show
Tao 4 the Show's picture

There are moments when all is going well for the Europaths and the political leaders feel powerful and connected. But when the tide ebbs, these same pols know in the back of their minds that they are fully expendable once the plans of the Europaths are forced to change. This is the fear, I think, forcing Laguarde's clenched fists in the photo from an earlier post. The pols are on the line.

The Europaths have decimated much of Europe and no one can bear to face reality. Nearly everyone finds it better to join the illusion of a vision for the future projected by the Europaths. There is no such vision except for the dark face of mindless and deadening authoritarian control, similar to what was abandoned in East Germany only a couple of decades ago.

The pols - who are the willing foot soldiers of the Europaths - sense the darkness that will engulf them when they are no longer useful. The Greeks feel the darkness closing around them, but have neither the leaders or any vision to substitute for the hollow illusion of the Europaths.

The painful choice to be made is not a bill or plan receiving approval in some political body. It is decision of whether to face the harsh facts of reality and take responsibility for the future, or to surrender not only body and wealth, but also soul and spirit to the gaping and never-satisfied mouth of the monster.

Mon, 02/13/2012 - 19:07 | 2155589 Use of Weapons
Use of Weapons's picture

Currently trending across tumblr and the wider anarchist net. Note: Euripides never wrote these lines.

"Athena: I do only as I am asked. Ask for the city to function with harmony, and I will bind the slave and fatten the master. For this is how harmony is forged from chaos. All of those who flock to and live off fair Athena accept this bargain, whether their ignorance of this bargain be sincere or feigned. To dwell within my city requires submission. Just as the ox that carries water submits to a yoke, so must the citizen submit to the laws of the city.

But should you grow tired of this, should the wine cause sickness and the grapes rot on the vine, I will gladly destroy what you have asked me to create. But I have yet to hear any of you mortals, rebels or kings, ask me to carry out this final task: let Chaos reign over the fields of Athena. You lack the courage to see burn everything that gives you comfort and shelter. Even the strongest of you fear mighty Chaos and what he will do should I let him run free. But remember this, young soul: I do only as I am asked.

Ask me to build you a city and I shall make it function. Ask me to end the misery of the city, and I will have only one option: to destroy it, utterly."

Euripides, ATHENA POLIAS (Athena of the City), from the Lost Plays

 

He did write this, however:

O Zeus and Zeus's justice, o light of the sun, now, my friends, I shall be victorious over my enemies: I have set my foot on the path. Now I may confidently expect that my enemies will pay the penalty. For this man, at the very point where I was most in trouble, has appeared as a harbor for my plans: to him will I tie my cable when I go to the city of Pallas Athena.

Mon, 02/13/2012 - 19:12 | 2155632 Atomizer
Atomizer's picture

 

 

Catching up on my emails. Have a look at this from yesterday.

Vítor Gaspar & Wolfgang Schäuble:

http://www.youtube.com/watch?v=mIfaoTPRmj0

Mon, 02/13/2012 - 20:13 | 2155838 Money 4 Nothing
Mon, 02/13/2012 - 21:05 | 2156007 samwell
samwell's picture

game theory big time.

Mon, 02/13/2012 - 21:14 | 2156009 slewie the pi-rat
slewie the pi-rat's picture

how much for the little girl?

just kidding

in case germany didn't get the memo, greece is not feeling up to this right now

waiting for more tear gas, stuff like that;  putting out fires;  fixing stuff

so you just go ahead and tell the finiMinis that they're sorry, ok? this is it for now

see ya!

Mon, 02/13/2012 - 21:17 | 2156042 chump666
chump666's picture

Ok Greece has no balls, maybe Germany can grow some steel ones and end this BS

in respect a beatdown is needed

http://www.youtube.com/watch?v=Ac6cOJb2FvI&feature=related

Mon, 02/13/2012 - 21:25 | 2156064 williambanzai7
williambanzai7's picture

This kind of reminds me of the Fukushima thermometer: a +/- 200 Billion EURO margin for error...

Mon, 02/13/2012 - 21:44 | 2156112 Alpacanio
Alpacanio's picture

Go long on Merkels new Waffen SS...

Mon, 02/13/2012 - 21:49 | 2156119 chump666
chump666's picture

Luxembourg Finance Minister Luc Frieden:

--Athens may exclude itself from the euro zone if its doesn't fully comply with loan terms, minister says
--Although not his preference, a default would give Greece a "new start," minister says
--It is yet unclear if an expanded loan program for Greece will meet IMF debt targets, he says

Greece back on within 48hrs mania. 

Mon, 02/13/2012 - 22:26 | 2156205 slewie the pi-rat
slewie the pi-rat's picture

maybe the banksters" money will just sit there b/c nobody wants it

L0L!!! this shit is really good!

i'm not sure what greece "gains" by getting up off the fainting couch for a few daze

the vapours, you know!

but, i'm open to suggestions!

Mon, 02/13/2012 - 22:47 | 2156237 chump666
chump666's picture

lol maybe!

like i said 48hrs and it's back on again. 

market is gearing up for payback

Mon, 02/13/2012 - 23:37 | 2156339 Ropingdown
Ropingdown's picture

I don't think anyone wants control of Greece.  They just want to fight off mark-to-market for a few more months.  Nothing more.  There is nothing more there.  Nothing to want.  The corruption is so great, the capital flight so vast, the trade-union (syndacalist) geist so deep in the workers' bones, the Swiss accounts of the upper class so large, that the place is nothing but a tear-down, in RE speak.  Sure, leave the monuments.  The rest?  A tear-down.  Tent space for backpackers.  Germany needs to focus its capital on Russia, Asia, and the Americas, and they know it.

Tue, 02/14/2012 - 02:19 | 2156595 smb12321
smb12321's picture

Roping - Yet for some reason (guilt, pride, historiy, fear?) Germany keeps playing this stupid gane of "Approve this...now that....then this."  They should say, "We are not going to throw more money down the black hole of endless debt and French banks."   Like the black hole of US debt the MSM says we can solve by :more revenue".  Greeks are not asking for BMW or Mc Mansions - simply a retirement age of 50 with a 13th and 14th payment.

Tue, 02/14/2012 - 03:38 | 2156654 IQ 101
IQ 101's picture

An Unelected banker running the country! that should end well, how embarassing for the Greek people, At least they could have faked an election like the bankers who run the USA do!

You would get a better deal than that from a hooker in Vegas, faking it is part of the rules of the profession, but then I never met a banker who has the honour of a whore.

Greeks, Romans, Madridanidians, bow now to your new masters in the new capitol, New York City, the Curdle of civilization.

Tue, 02/14/2012 - 06:59 | 2156773 vassilip
vassilip's picture

a lot of people around the world write about the "greek case"
but i do not see any article on some crusial facts:

1/  the huge quantities of OIL and GAS that Greece has - especially south of Krete
2/  the geo-strategical significance of  Greece for Israel-American planes in the region (and the Turkish aspirations)
3/ what Greece represents for the europian political collective awareneness

also:

the Greece as a country and a society is not at all in dept (absolutely the opposite) but the greek State is, though a lot less than the so called "rich" states (Germany, UK, France, ....)
 the whole story is very stinky - a case of treason against not only against Greeks but World itself

/??

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