Greece Runs Out Of Ink, Can't Print Tax Forms

Tyler Durden's picture

If you thought that last night's news that Greece had been consulting (and paying) the far more "stable" Irish Central Bank on how to, oh, avoid bankruptcy, this may jus top it. In an FT article describing the new set of austerity measures most of which are very loud threats that Greece will very soon (really) take austerity seriously (they promise), we stumble across the following gem: "The conservative opposition New Democracy party said a shortage of ink had prevented the computerised tax centre at the finance ministry from sending out claims to taxpayers over the last 10 days. There was no response from the finance ministry to the claim."...

So.... let's get this straight. If austerity does not force all the tax collectors to be on permanent strike which it appears it will, than the sharp ink shortage will surely destroy any attempts to generate state revenue through tax collections. And there is more bad news: when Greece goes back to its prior currency, the drachma, or the obolus, or goats, or whatever, there will be no ink to print it. And since Greece will enter hyperinflation shortly following its evolutionary transition from disorganized banana republic to organized hyperinflationary implosion, this may be a concern.

h/t Kalev

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j0nx's picture

Or hot hairy greek bitches. Fire sale on those? I'll take 2!

Gully Foyle's picture


Why do Italian men grow mustaches?

To look like their Mothers.

Mrs.Carberry: Fecking Greeks!
Colm: It isn't the Greeks, it's the Chinese he's after.
Father Ted: I'm not after the Chinese!
Mrs.Carberry:I don't care who he gets as long as I can have a go at the Greeks. They invented gayness!

GRsilverking's picture

Greek girls are not hairy any more & are the hottest in EU. Maybe get your head out of the sand and go visit someday. It's not 1970.

Greek gov may be thives & bastard but the Greek people are good. Since everyone including the tax collectrors were on the take they learned to no have to pay tax. Most employees are paid 30% of salary in cash in small or large business. As one teaches thier dog that's how is goint to behave.

Caveman93's picture

If they cannot afford ink, how on this Earth will their women afford Nair, razors and wax? Just asking. Yeah, pretty hairy indeed!

MS7's picture

What a fascinating question. Maybe you should do a study a report back to the geniuses here.

The Big Ching-aso's picture

"Greek girls are not hairy any more..."

Yeah he's right.    They're trying to be like Armenian chicks.


MS7's picture

Desperately seeking riot dog's mom?

doomandbloom's picture

Pls contact Bernanke for more ink...

Manthong's picture

Damn, Peak Ink..

Maybe gold and silver will be worth someting now.

Oh regional Indian's picture

Seriously though, if what it portends wasn't sad, it'd be funny.


HoofHearted's picture

You can't make this shit up...or can you? Is this the Onion back at it again? Unfortunately, life is often stranger than fiction.

turicum's picture

The Bernank is certainly able to "generate" more money from the same amount of ink than the greek tax departement.

RemiG2010's picture

I am sorry to inform you, that we at the FED as well ECB, are using an electronic ink only.

YesWeKahn's picture

Bernanke didn't need any ink, that was his lip work.

fockewulf190's picture

Nah, the ECB will spring another loan for the ink, as long as the Greek Parliment guarentees an ink tax is added to all greek electricity bills forthwith.

Ghordius's picture


won't work

what the "disappearing ink" incident really means is that the Greek Government is losing it's grip on the state burocracies

the tax-collectors are, instead of getting a lot of grief from the population, just being obstructive

the Greeks won't pay, period - and the squidwashed PM of Greece simply won't admit it

zuuuueri's picture

the greek state does not provide any useful services.

rather, the proper services you'd expect from a state (defense and courts) you have to pay extra for (for defense, there is a conscription, and service is not compensated).

any of the services of, say, civil urban society (like water, lets say) you pay for separately, and the services of local government like trash collection, well, theoretically local governments collect taxes too.. in practice it all goes through the  central government, so that Athens is often months or years behind in paying the money to city governments or paying the bills at e.g. hospitals etc, even if technically the budgetary funny money is supposed to belong to a city government..

Many municipalities actually pay the bills with income from renting out publicly owned assets, or from fees (which are skyrocketing) since that money doesnt go to athens and then theoretically return to the city, but stays in local hands.

but, again, bye bye services? they can keep 'em, nobody will miss them.



The Big Ching-aso's picture

I think the greek state should just become a volunteer nation and be done with it.

Mentaliusanything's picture

The Hospitals are not paying the bills for the Pharmacy goods, the only pay when they go on stop. Some bills are years behind

This was in june 2010

and  a year later its going to shit. I wonder if the Germans are happy lending them the money to pay the bills they sent them. 

GRsilverking's picture

That is a bounch of shit for sure. We do & say stupid retarded things like that. Yes, they are disconecting thier electricity on their second home so they don't pay. They are subscribing to the "We will not pay" movement. Yes, this is the new movement. They do not care if the lights go off.

krispkritter's picture

1-800-BEN-4INK... Mr. BernINKe answers the phone 24x7...

Edward Fiatski's picture

Oftentimes I think farce such as this is thought up on purpose by people in Power, only to laugh the peasantry in the eye.

turicum's picture

This is so, ahem, unbelievable, it can't be made up

LongSoupLine's picture

This is a direct result of Bernanke cornering the ink market...

Clint Liquor's picture

It was my understanding that the reason the USD is going up is that The FED had discovered a massive ink deposit in Alaska. If they can get through the permitting prossess the discovery will have a major impact on the supply/demand dynamics of ink. Greece should be Ok but they may need to buy some OCT.12 ink puts as a hedge.

A simple equation:


youngman's picture

Is there an Ink ETF.....I´m in

Dick Darlington's picture


The law allows borrowers to repay their foreign currency mortgages at exchange
rates c. 25% below current market rates

Maybe the attention will soon shift to Austria and her banks with big eastern european exposures...

papaswamp's picture

That is the really under reported aspect isn't it. Some of those E.Euros are in serious trouble.

trav7777's picture

why do you suppose the dollar hasn't imploded already?  75% of worldwide debt is denominated in FRNs. 

Sequitur's picture

I hope this EuroTalf bullshit blows up in LIESman's face. Just like a grenade, somone please pull the fucking pin, and take all of CNBC with it. Toss Santelli a bomb suit, only one worth saving.

LeBalance's picture

close; we are talking PIIGS after all.

papaswamp's picture

The excuses are just getting better and what point does German and France realize the Greeks have completely played them? 

I can hear the Greeks now...(snicker snicker)..."shhhh I told them we will make huge the unions and ask for some strikes and demonstrations to make it look real..." (giggle)

turicum's picture

You mean, the Greek are not really sincere about the measures?

Ghordius's picture

they are as sincere as on the day they left a beautiful wooden statue in honor of the horse-creator Poseidon on the shores of Troy

The Big Ching-aso's picture

" what point does German and France realize the Greeks have completely played them?"

I think France should be especially worried that when Greece goes up in flames all those Bavarian Germans in Speedos will be headed to their shorelines.


Comay Mierda's picture

we will see the real revolt when they run out of toilet paper

disabledvet's picture

it's when they offer "digital toilet paper" that you'll see some "angst spillover" is what my sources in Greek intelligence have told me. "wipe your ass with your i-pad" apparently while "befitting the current Greek zeitgeist" has some "downside risk as well" according to "the planning committee."

Arius's picture

thst doesnt sound good does it.... it reminds me of our FED on this side of Atlantic saving money by not publishing the M3 money supply report ... or at least that was the claim .... guilty as charged if i am mistaken ...

...the more things change the more they remain the same ...

Sequitur's picture

BAC on CNBC right now, claiming Treasury is "safe" investment. And inflation will be "low." If I hear "flight to safety" one more time, I'm going to destroy the big screen.

Salty Dawg's picture

Fed QInk 1 now officially part of Jobs pkg!!!