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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Thu, 02/09/2012 - 09:59 | 2141280 VisualCSharp
VisualCSharp's picture

And so it continues...

Thu, 02/09/2012 - 10:01 | 2141288 GetZeeGold
GetZeeGold's picture

 

 

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

 

 

 

Thu, 02/09/2012 - 10:05 | 2141319 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Social Uprising

Is that their version of facebook?

Thu, 02/09/2012 - 10:21 | 2141373 Badabing
Badabing's picture

Deadline is March 20th

Beware the ides of March

Thu, 02/09/2012 - 10:38 | 2141428 Spastica Rex
Spastica Rex's picture

What happens on the 15th?

Thu, 02/09/2012 - 10:44 | 2141452 Badabing
Badabing's picture

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

Thu, 02/09/2012 - 10:46 | 2141461 Dr. Engali
Dr. Engali's picture

The sun comes up.

Thu, 02/09/2012 - 10:58 | 2141511 battle axe
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!

Thu, 02/09/2012 - 13:20 | 2142394 smiler03
smiler03's picture

Greek police stage protest march:

http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_1_09/02/2012_426946

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

Thu, 02/09/2012 - 11:03 | 2141533 ElvisDog
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.

Thu, 02/09/2012 - 11:04 | 2141534 Sudden Debt
Sudden Debt's picture

Just check your facebook timeline!

Thu, 02/09/2012 - 11:17 | 2141630 Abitdodgie
Abitdodgie's picture

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

Thu, 02/09/2012 - 11:00 | 2141522 dracos_ghost
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."

Thu, 02/09/2012 - 11:22 | 2141666 Taterboy
Taterboy's picture

Will there be an IPO?

Thu, 02/09/2012 - 10:02 | 2141295 Temporalist
Thu, 02/09/2012 - 10:02 | 2141299 American34
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.?

Thu, 02/09/2012 - 10:04 | 2141304 Ancona
Ancona's picture

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

Thu, 02/09/2012 - 10:05 | 2141321 John Law Lives
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.

Thu, 02/09/2012 - 11:37 | 2141773 ElvisDog
ElvisDog's picture

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

Thu, 02/09/2012 - 10:19 | 2141364 Citxmech
Citxmech's picture

what's our debt per citizen again?

[Answer per debt clock: $48,943.00]

Thu, 02/09/2012 - 10:39 | 2141431 Vincent Vega
Vincent Vega's picture

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

Thu, 02/09/2012 - 10:59 | 2141517 X. Kurt OSis
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!!!!!!!

Thu, 02/09/2012 - 10:30 | 2141400 Id fight Gandhi
Id fight Gandhi's picture

Add more bread and circuses

Thu, 02/09/2012 - 11:52 | 2141854 SaulGood
Thu, 02/09/2012 - 10:32 | 2141408 dbTX
dbTX's picture

It won't be funny !

Thu, 02/09/2012 - 10:35 | 2141421 MachoMan
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).

Thu, 02/09/2012 - 11:08 | 2141513 Mr Kurtz
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?

Thu, 02/09/2012 - 10:43 | 2141450 SheepDog-One
SheepDog-One's picture

'Only spending what you make'?

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

Thu, 02/09/2012 - 11:29 | 2141715 RSloane
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.

Thu, 02/09/2012 - 10:10 | 2141340 Oztralian
Oztralian's picture

ZH boom, doom, and gloom continues

Thu, 02/09/2012 - 10:42 | 2141446 _ConanTheLibert...
_ConanTheLibertarian_'s picture

With good reason...

Thu, 02/09/2012 - 10:56 | 2141506 Vince Clortho
Vince Clortho's picture

Buy a Clue.

Thu, 02/09/2012 - 10:10 | 2141341 4realmoney
Thu, 02/09/2012 - 10:28 | 2141394 Zero Debt
Zero Debt's picture

Legalize the constitution!

Thu, 02/09/2012 - 10:31 | 2141404 Dr. Engali
Dr. Engali's picture

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

Thu, 02/09/2012 - 10:56 | 2141503 Mesquite
Mesquite's picture

Wow..What a GREAT Slogan...

Thanks...

Thu, 02/09/2012 - 10:13 | 2141352 fightthepower
fightthepower's picture

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

Thu, 02/09/2012 - 10:28 | 2141391 bigdumbnugly
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.

Thu, 02/09/2012 - 10:15 | 2141357 ilion
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?

Thu, 02/09/2012 - 10:47 | 2141426 MachoMan
MachoMan's picture

defer to poster below me stating the illusory nature of control

Thu, 02/09/2012 - 10:45 | 2141457 Alpha Monkey
Alpha Monkey's picture

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

Thu, 02/09/2012 - 11:06 | 2141561 Temporalist
Temporalist's picture

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

Thu, 02/09/2012 - 10:53 | 2141482 SMG
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.

Thu, 02/09/2012 - 10:54 | 2141497 battle axe
battle axe's picture

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

Thu, 02/09/2012 - 10:00 | 2141283 agent default
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.

Thu, 02/09/2012 - 10:04 | 2141308 GetZeeGold
GetZeeGold's picture

 

 

Just get rid of the marxists......it will get quiet pretty quick.

 

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

 

 

 

Thu, 02/09/2012 - 10:24 | 2141377 GetZeeGold
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.

 

 

Thu, 02/09/2012 - 10:45 | 2141459 Spastica Rex
Spastica Rex's picture

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

Thu, 02/09/2012 - 10:15 | 2141359 Gordon Freeman
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

Thu, 02/09/2012 - 10:26 | 2141383 dwdollar
dwdollar's picture

How dare they not pay their taxes to the bankers!!! Half-Brain.

Thu, 02/09/2012 - 10:30 | 2141402 Gordon Freeman
Gordon Freeman's picture

Fuck you

Thu, 02/09/2012 - 10:33 | 2141415 GetZeeGold
GetZeeGold's picture

 

 

You must be an intellectual.

 

 

Thu, 02/09/2012 - 10:29 | 2141398 Fremen Sharpshooter
Fremen Sharpshooter's picture

Seriously! Tax the hell out of them all!  They have to pay for huge bureaucratic centralized nanny state somehow...

nevermind the bondholders!

/sarc

Who in their right mind wants to pay taxes to a banker-controlled protectorate?

Thu, 02/09/2012 - 10:39 | 2141432 fightthepower
fightthepower's picture

No only should they not be paying taxes to their shitty government, they should be shooting bankers and dragging their politicians into the street and hanging therm. 

Thu, 02/09/2012 - 10:48 | 2141470 Spastica Rex
Spastica Rex's picture

Just like the French paisans!

louis, c'est que vous?

Thu, 02/09/2012 - 11:06 | 2141549 Mr Kurtz
Mr Kurtz's picture

Well one thing you can be sure of when it comes to the "Rule of Law" and taxes. Stop paying your tribute (taxes) to the rulers and you'll see how fast the law gets applied.

Thu, 02/09/2012 - 11:27 | 2141711 Abitdodgie
Abitdodgie's picture

You people are STILL paying taxes , you people are such internet heros , some day you might grow balls and deal with the real world. If everyone stoped paying taxes we would not have a problem with the Government any more DUH.

Thu, 02/09/2012 - 12:00 | 2141904 Buckaroo Banzai
Buckaroo Banzai's picture

Refusing to pay their income taxes-- that's one thing I can admire the Greeks for.

Now they have to follow through, and reduce the size and scope of their government by 50%. THAT'S the hard part.

Thu, 02/09/2012 - 10:38 | 2141423 Shizzmoney
Shizzmoney's picture

It will be dirty and nasty, but also lulzy.

As Max Keiser said, "I'd love if they would try in Greece what they are trying here.  Considering that there are 250 million guns in the United States, it adds a little 'spice' to the whole situation."

Why do you think the government wants to take away our guns? 

That's why I love, but also hate, pacifists.  I love the fact they want a peaceful world, an end to violence.  It's an admirable gain.

But that goes against, you know, SCIENCE. I hate the fact they ignore the fact that not all organisms think on their level, especially humans.  That we can mave some magic wand, that will eliminate violence, guns, passion, and feeling. 

For example: not all chimps in the jungle are compassionate as their peers.  There are just as many chimps who would break a coconut open for his fellow mate as there are as many who would rather break a coconut over a fellow chimps' head so he will have all the coconuts. 

Until the environment changes, surivival instincts kick in, and that usually leads to cooperation.  Or clan cooperation, as we see with Baboons.

There are evil people in places of high power who know once they take away the threat of retalitory violence, they know they have us by the balls.

And not all psychopaths are dumb, frothing drug addicts.  Some happen to be the heads of police forces, states, and banks. 

Thu, 02/09/2012 - 11:21 | 2141658 Think for yourself
Think for yourself's picture

I disagree with the meaning of pacifism as you use it; I do not deny that it is an existing ideology, but rather affirm it does not make sense. So I understand why you "hate" it.

A "pacifist" without means of defense, be it guns, martial arts training or other weapons, is weak and powerless. Then is it really a choice for him to dismiss the use of violence? No it isn't, he simply doesn't have the means! His philosophy has disempowered him.

Now, I regard much more highly the real pacifism that can be seen in spiritual martial arts (i.e. most except krav maga). The martial artist is trained to his weapons so that he might be competent in their use. He is led to understand that legitimate defense is not aggression, i.e. not violence and does not go against the roots of his peaceful attitude. Yet he does not intend to use that power and his whole philosophy centers around averting whichever conflict presents itself peacefully, self-defense being the last resort.

The real power of pacifism lies not in being disempowered but rather in having the means to fight back yet not wanting to use them, exploring all other possible avenues to avoid conflict escalation.

 

Thu, 02/09/2012 - 11:54 | 2141869 Shizzmoney
Shizzmoney's picture

The real power of pacifism lies not in being disempowered but rather in having the means to fight back yet not wanting to use them, exploring all other possible avenues to avoid conflict escalation.

I 100% agree; I guess I was more referring to utopian pacifists, like my friend Jen (who literally gets mad when you swat a fly). Not the ones you mentioned above.

I know quite a bit of MMA guys; even had the pleasure of taking bong hits with the awesome Eddie Bravo (10 Planet Jiu-Jitsu owner) when I was in Vegas last year for the WSOP.  Just an awesome, fun, happy stoner dude.  But also one who, if you crossed, would take your neck and snap it in a second with a crossover triangle.

I do believe in the Man who walks Quietly with a Big Stick.  That in a sense is why I hate guns (but understand their need for survival); it's taken the morality of violent action away from the aggressor (it's phallic origin is prt of this). 

Thu, 02/09/2012 - 17:54 | 2143669 Things that go bump
Things that go bump's picture

Or like, Gandi and the Quakers, you stand up to them morally and let them hurt and kill without resistance, the theory being that the cognitive dissonance becomes so great that your opponent can't stand themselves anymore. ("Then they fight you, then you win.") I believe most people want to think they are the white hat guys, but I don't think this works with sociopaths.

I have been telling my grandchildren since we invaded Iraq that we are the bad guys here, that our government is evil personified and any cooperation with it is immoral.  I don't know how they reconcile that with what they learn in school.

Thu, 02/09/2012 - 10:00 | 2141286 orangedrinkandchips
orangedrinkandchips's picture

Addicts rarely change....i know...it takes one to know one!

 

I'll sober up tomorrow....i'll stop getting high tomorrow....for sure!

 

 

Thu, 02/09/2012 - 10:51 | 2141481 Conrad Murray
Conrad Murray's picture

Not me. I'm doubling my doses.

Thu, 02/09/2012 - 10:01 | 2141293 _ConanTheLibert...
_ConanTheLibertarian_'s picture

REVOLUTION BITCHEZ!!!

Thu, 02/09/2012 - 10:42 | 2141444 tim73
tim73's picture

Greeks are unable to agree when and where but further revolution negotiations will be held today, Sunday, surely next week. Sorry, not next week but no later than April 4th. Sure thing. No problem. Maybe instead a picnic with rioting? May 7th at earliest? OK! Done deal except who is gonna pay for the picnic? Germany? 

Thu, 02/09/2012 - 10:48 | 2141469 _ConanTheLibert...
_ConanTheLibertarian_'s picture

Well, we got politicians who have to think about their hidden agendas....and we got the people who are literaly starving. I'd say the people will quickly unite and bring on the revolution. Nothing complicated about that.

But the deal can still fail due to some stupid reason. Let's hope for that.

Thu, 02/09/2012 - 10:02 | 2141294 GeneMarchbanks
GeneMarchbanks's picture

M.A.D always prevails in the end.

Thu, 02/09/2012 - 10:01 | 2141296 Gauthijm
Gauthijm's picture

What a farce

As if anything the Government of Greece can actually deliver with the country torn apart by unions and sociatal collapse

Over

Jean

Thu, 02/09/2012 - 10:02 | 2141298 fightthepower
fightthepower's picture

Revolt you Greek LOSERS!

Thu, 02/09/2012 - 10:12 | 2141351 Dr. Engali
Dr. Engali's picture

It's kind of hard to call the Greeks losers when you look at the banana republic we have become.

Thu, 02/09/2012 - 10:45 | 2141458 Temporalist
Temporalist's picture

Who is we? If you're not already on the moon base with Newt you're nobody.

Thu, 02/09/2012 - 11:10 | 2141584 pods
pods's picture

Perfect comment Doc.  What is going on in Greece WILL happen here.  Greece is just at the margin, so they are seeing it first.

To the Greek socialist, marxist, communist lazy fucks credit, when things happen in THEIR nation, they actually do something about it.  Of course, even here many fail to see what is actually going on.  Instead they run with the something for nothing crap.  When what is going on is the merely the planned result of contraction in a world of debt money.  But we have to blame the greeks, who are the first in line.

You can even see it to a degree in the USSA, where people at the margins have been portrayed as deadbeats, etc.  Just futher along the same timeline we are all on.

pods

Thu, 02/09/2012 - 10:02 | 2141300 youngman
youngman's picture

"will "pledge" to return to GDP growth in 2013"....that had to be a typo..it should be 2103....there fixed

cue in the year 2525...hager and owens

Thu, 02/09/2012 - 10:11 | 2141343 Imminent Collapse
Imminent Collapse's picture

That's Hager & Evans

Thu, 02/09/2012 - 10:14 | 2141353 youngman
youngman's picture

Hager and Owens were the B side...lol...my bad

Thu, 02/09/2012 - 10:32 | 2141414 Gordon Freeman
Gordon Freeman's picture

It's actually Zager and Evans--terrible song...

Thu, 02/09/2012 - 10:42 | 2141442 Ralph Spoilsport
Ralph Spoilsport's picture

It's actually Zager and Evans--terrible song...

 

You had to be there.

Thu, 02/09/2012 - 10:42 | 2141443 Clueless Economist
Clueless Economist's picture

It's actually Eager & Zevens

Thu, 02/09/2012 - 10:43 | 2141449 Ralph Spoilsport
Ralph Spoilsport's picture

Zager sells his own guitars now:

 

http://www.zagerguitar.com/

Thu, 02/09/2012 - 10:54 | 2141483 Badabing
Badabing's picture

It's Zorba & Greek

 

If man is siill alive they may find.

Thu, 02/09/2012 - 10:03 | 2141301 CClarity
CClarity's picture

US Treasuries not "buying" it.

Thu, 02/09/2012 - 10:03 | 2141302 youngman
youngman's picture

Hey but the bankers will get their payouts...incredible...

Thu, 02/09/2012 - 10:14 | 2141356 Dr. Engali
Dr. Engali's picture

And the sad thing is the Greeks ,and eventually us, will fight amongst ourselves instead of against the fuckers causing this mess.

Thu, 02/09/2012 - 10:44 | 2141451 Shizzmoney
Shizzmoney's picture

I actually think the opposite here.  Why? hacktivists.

I can see, in the coming years, a great "revelation" happening due to some 16 year old kid getting a file on his hands he not supposed to.  He'll dox it, we'll read it, and the populace will then kind of start to figure out what its going on.

People are more efficient today.  People also know where Jaime Dimon lives.

Remember, this isn't anti-slavery v slavery; or colonialists vs royalists.  This is haves vs have-nots.....and have-nots, in history, tend to be on the winning side of these battles. 

There was a reason why Haitian slaves revolted against Frace, and were one of the few slave citizens to actually beat their masters.  It was because fo the "printing press", moreso than their swords (although they were up against the French, not saying much). 

Thu, 02/09/2012 - 10:48 | 2141464 Temporalist
Temporalist's picture

You're probably right and nothing like what happened with Assange and B.Manning will ever happen again too.

Thu, 02/09/2012 - 17:58 | 2143684 Things that go bump
Things that go bump's picture

Where does he live again?

Thu, 02/09/2012 - 10:03 | 2141303 John Law Lives
John Law Lives's picture

Somebody over there get Sausage a bulletproof vest.  He is the leader of the angry mob.

Thu, 02/09/2012 - 10:04 | 2141307 bigwavedave
bigwavedave's picture

So Greece gets to borrow more money. Perfect!

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