Greece Responds To Troika Deal With Immediate Two Day Strike, Threatens With "Social Uprising"

Tyler Durden's picture

Even as the ECB's very own Mario Draghi is now peddling Greek deal rumors, which are essentially a reaffirmation that the country will "pledge" to return to GDP growth in 2013, we are already seeing real, not pledged, or promised, consequences of this deal, whether real or not (ignoring that Venizelos just said that it would actually take up to 15 days to finalize it, something which means the Greek exchange offer is DOA) namely that the crippling economic collapse discussed extensively on these pages is about to get far worse. AP reports: "Angry union leaders announced a 48-hour general strike for Friday and Saturday." “We are moving to a social uprising," said ADEDY Secretary Genera Iliopoulos." Surely this is the fastest shortcut for Greece to meet or beat expectations of halting the 10% drop in its GDP and convert that number to positive. One can only hope that makers of bulletproof vests can compensate the economic collapse as every other part of the economy shuts down.

From PressTV:

The unions, General confederation of Workers of Greece (GSEE) and Civil Servants Supreme Administrative Council (ADEDY), announced on Thursday that their members will go on a two-day strike from Friday in protest at the controversial decision.


"We will hold a general strike on Friday and Saturday along with the civil servants' union," said a spokeswoman with GSEE which represents the private sector.


ADEDY's Secretary General Ilias Iliopoulos described the measures as “painful” which will “create misery for youths, unemployed and pensioners do not leave us much room.”


“We are moving to a social uprising," said Iliopoulos.


Greece has been the scene of repeated strikes since the country first resorted to bailouts from international lenders in 2010.


Leaders of the three parties backing Greece's coalition government approved new austerity measures on Wednesday but failed to agree to creditors' demands to make 300 million euros ($398 million) in pension cuts.


The country’s Prime Minister Lucas Papademos still hopes that the coalition leaders will strike a comprehensive deal by Thursday evening, his office said on Wednesday.


To secure a bailout package of 130 billion euros, Athens must first persuade the troika -- the European Union (EU), International Monetary Fund (IMF), and the European Central Bank (ECB) -- that it will implement long-delayed reforms and make further spending cuts.


Greece's current debt stands at 340 billion euros ($440 billion) -- a sum that equals around 31,000 euros debt per person in the country of 11 million people.


The country has, accordingly, the biggest debt burden in proportion to the size of its economy in the entire 17-nation eurozone.

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VisualCSharp's picture

And so it continues...

GetZeeGold's picture



This time it's the newly repackaged "Social Uprising"




Mr Lennon Hendrix's picture

Social Uprising

Is that their version of facebook?

Badabing's picture

Deadline is March 20th

Beware the ides of March

Spastica Rex's picture

What happens on the 15th?

Badabing's picture

That gives them five business days for the bailout check to clear!

battle axe's picture

The army is called out, then they realize that their pay checks bounced also and join the demonstrators in the streets of Athens. Viva la Revolution!

smiler03's picture

Greek police stage protest march:

This could be a very important step towards revolution. Maybe the police won't stop rioters burning parliament down?

ElvisDog's picture

Haven't we learned that deadlines don't mean squat when it comes to Euro-land. The 15th and 20th will come and go, and then they'll come up with some new plan to tell us everything has been fixed once and for all.

Sudden Debt's picture

Just check your facebook timeline!

Abitdodgie's picture

We invade Iran on the 8/9 of March so that should get things going.

dracos_ghost's picture

This just in:


"Greeks cancel 2 day strike because it felt too much like work and was exhausting. Ask the EU for credit for the 2 days and 3 more holidays to decompress."

American34's picture

I wonder what is really going to happen when this type of "Austerity/Only Spending what you make" is forced to occur here in the U.S.?

Ancona's picture

Has anyone seen Riot Dog? We're going to need him......

John Law Lives's picture

With Congress content to spend and the Great Chairsatan content to print, who knows how far away that day may be.

ElvisDog's picture

To paraphrase Keynes: they can kick the can down the road longer than you can stay sane.

Citxmech's picture

what's our debt per citizen again?

[Answer per debt clock: $48,943.00]

Vincent Vega's picture

Look again...PERSONAL debt ie mortgage, revolving and non revolving is about 50k. TOTAL debt is 180k.

X. Kurt OSis's picture

That's just personal debt.  Bottom right.

Including unfunded liabilities, we are over $1 million per tax payer!  U S A, U S A, U S A!!!!!!!

MachoMan's picture

It hasn't been forced on the greeks yet...  this is only lip service.

So, to answer your question, when austerity is discussed (it's still a negotiation), I think the united states citizenry will respond similarly, albeit with fewer molotov cocktails (and thus less police shooting protesters).

In the end, greece understands it has the entire developed world by the balls.  In the end, looking the citizenry in the face and saying, "you have been living a lie for decades that was based upon material misrepresentations by us and our predecessors and, as a result, you must now cut your standard of living by three quarters and hope to develop a replacement to oil with frozen credit markets" is simply not going to happen...  the only thing to do is what has been done before...  keep it going as long as possible until the currency is destroyed and then pretend like it was caused by some external, natural force that no one could have foreseen...  and, to aid this process, ensure that the educational infrastructure never teaches the populace the real cause.

The greeks are about as sincere to the thoughts of austerity as a puppy dog is to giving up a bone (or, alternatively, stolen underwear).

Mr Kurtz's picture

Today at CNBC:

" Greek political leaders have clinched a deal on austerity measures needed to secure a bailout to keep the country afloat, two government sources said on Thursday."

Translation: Shitty time to be a serf.

Guillotines, anyone?

SheepDog-One's picture

'Only spending what you make'?

Egads! You mean actually LIVING within your MEANS? Utter insanity!!

RSloane's picture

There has been very very limited, if any, implementation of any of the Greek austerity measures. The newest round will join the others in the 'we'll get around to it' pile.

The US has printing presses and a gold card from China.

Oztralian's picture

ZH boom, doom, and gloom continues

Zero Debt's picture

Legalize the constitution!

Dr. Engali's picture

You know you can be labeled as a terrorist for believing such radical thoughts.   See something say something bitches!

Mesquite's picture

Wow..What a GREAT Slogan...


fightthepower's picture

Worthless cowardly Greeks.  Unless they bring a gun to this "Social Uprising", it won't do any good. 

bigdumbnugly's picture

but achilles and ajax won't be walking through the door anytime soon.

maybe some modern day poet can conjure up another greek with gonads.

ilion's picture

This raises a question, is there anything in the world these days actually under control? Or is it just all going to blow up any day now?

MachoMan's picture

defer to poster below me stating the illusory nature of control

Alpha Monkey's picture

Control is an illusion.  Always has been, always will be. 

Temporalist's picture

That is my favorite thing to hear from the pilot when I'm at 30k ft...or on a cruise ship.

SMG's picture

i guess the best analogy is the Oligarchy (Illuminati) is controlling the plane and flying it into the side of the mountain.   They will jump out of the plane with parachutes just before it hits.  The passengers ("useless eaters")  get to experience controlled flight into terrain.

battle axe's picture

Wasn't there a "social upraising" a few months ago? Same shit, different day.

agent default's picture

I want to see half of what has been enforced in Greece against the population enforced in the US.  Lets see how quiet things will be here after that.

GetZeeGold's picture



Just get rid of the will get quiet pretty quick.


It's either that or kill 30 million people........again.




GetZeeGold's picture



It appears we have some genocide fans out there.


I'm not saying it's not a way to go.....ok you got me.......I'm not really up with it.



Spastica Rex's picture

Good thing we've got you to set it straight.

Gordon Freeman's picture

"Social Uprising"??? What does that mean?  A refusal to pay taxes?  Oh, wait--they already don't do that...

Lazy, worthless fucks