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Greece Spends Bailout Cash On European Military Purchases

Tyler Durden's picture


As Greek standards of living nose-dive, loans to households and businesses shrink still further, and Troika-imposed PSI discussions continue, there is one segment of the country's infrastructure that is holding up well. In a story on Zeit Online, the details of the multi-billion Euro new arms contracts are exposed as the European reach-around would be complete with IMF (US) and Europe-provided Greek bailout cash doing a full-circle into American Apache helicopters, French frigates, and German U-Boats. As the unnamed source in the article notes: "If Greece gets paid in March the next tranche of funding (€ 80 billion is expected), there is a real opportunity to conclude new arms contracts." With the country's doctors only treating emergencies, bus drivers on strike, and a dire lack of school textbooks and the country teetering on the brink of Drachmatization, perhaps our previous concerns over military coups was not so far-fetched as after the Portuguese (another obviously stressed nation), the Greeks are the largest buyers of German war weapons.  It seems debt crisis talks perhaps had more quid pro quo than many expected as Euro Fighter commitments were also discussed and Greek foreign minister Droutsas points out:"Whether we like it or not, Greece is obliged to have a strong military".


From Zeit Online: Fine Weapons For Athens (Via Google Translate)

Frigates, tanks and submarines: A Greek military passes any savings package. And Germany benefited.


The Gift of the Greek Ministry of Defense has the man in the head: up to 60 fighter aircraft fighter for maybe € 3.9 billion euros. French frigates for about four billion, patrol boats worth 400 million euros, as much is the necessary modernization of the existing Greek fleet. Then it still lacks of ammunition for the Leopard tank , also would have two American Apache helicopters will be replaced. Oh, and one would like to buy German U-boats, total price: two billion euros.


What the man who goes in and out of Greece's Defence Ministry, in an Athens cafe is because of the sounds absurd. A State which is on the verge of bankruptcy and is supported by billions of the European Union wants to buy tons of weapons? The man in the café is often seen in photos next to the generals of the Army or Defense, he phoned often with these people, so he knows his way around. He knows how sensitive the issue, and would therefore - like most other party - are not named in the newspaper. He even holds for arms purchases currently not communicable. But could soon change that, he says: "If Greece get paid in March the next tranche of funding of € 80 billion is expected, there is a real opportunity to conclude new arms contracts."


If only one billion staying left, so the man could be, for example, the first Euro Fighter frigates or a binding order.


Really incredible: This spring, decides whether Greece survives in the euro area or the drachma back . On the morning of the internals in the café are freely divulged, physicians treat in Athens hospitals only in emergencies, bus drivers on strike, are still missing textbooks in schools and thousands demonstrate against state officials announced their dismissal. Greece's government announced a new savings program that barely spared a Greek.


Unless he works for the military or the armaments industry . On these two areas is in fact still almost passed without any austerity.




Under Greece's EU partners, there are few who speak out publicly in favor, stop the project immediately and Greek armor for a long time. One is Daniel Cohn-Bendit, leader of the Greens in the European Parliament: "From the outside, access to EU countries in practically all the rights of Greece. Nurses will cut the wages and everything should be privatized. Only in the defense budget, it means a sudden, it was a sovereign right of the state. It's surreal. "


Cohn-Bendit believes that behind the hesitation of Europe to entrenched economic interests. Main beneficiary of the Greek armament policy in Europe is just saving champions Germany. According to the just-released report, Arms Export in 2010 after the Portuguese, the Greeks - a state on the verge of bankruptcy - the largest buyers of German war weapons. Spanish and Greek newspapers spread the rumor at all, Angela Merkel and French President Nicolas Sarkozy would have remembered former Prime Minister of Greece George Papandreou nor the end of October at the edge of a summit meeting to finding solutions to existing or new arms orders complete. In Papandreou's environment is not confirmed, the federal government decided denied "messages, Chancellor Merkel and President Sarkozy had recently urged Greece to new arms deals, baseless," said a spokesman via e-mail.




Clearly this is apparently also become a state visit in Greece: German Government members expressed their export needs, and the Greeks reiterated their demand for imports. It has every known, "that Greece had invested too much in its military," so Linnenkamp. Yet the Greeks piled on over the years, enormous obligations.




But in the spring of 2010 reminded Foreign Minister Guido Westerwelle (FDP), the Greek government to the order of € Fighter, just weeks before the Greek bankruptcy. "Westerwelle called for a commitment to the Euro Fighter," says someone who has experienced the talks closely. The Foreign Minister also assured again in the Greek daily newspaper Kathimerini: "We do not urge the Greek government to buy. If (they) but, at any time whatsoever, a decision to purchase fighter aircraft meets the Euro Fighter countries want to be represented here by Germany, will be considered in the decision. . This is within the European Union, but completely normal, "A few weeks later Westerwelle called in the stock market newspaper more discipline from the South:" We expect before, there are discussions about aid that Greece executes fully their own homework to consolidate policy. "


How does that work? Not at all, is the defense expert Linnenkamp: "It was totally irresponsible to speak in the midst of severe economic crisis, the issue of Greece's Euro Fighter at all."




Dimitris Droutsas is one of the few Greeks who speak openly about these figures. By June 2011, he was of Greek foreign minister. "We have not spent so much money on defense, because we made it fun," he says. The Greek foreign borders must be secured against the waves of migration from North Africa and Asia, almost daily there are conflicts with Turkey. "As Foreign Minister I was always in the afternoon a message from the Defense Department with the list of Turkish violations of our airspace." Greece also been watching with concern the increasing activity of the Turkish navy in the Aegean Sea and have seen a good 35 years on the "Turkish invasion" Cyprus . Since then, the Greeks lived in a state of fear. That with Turkey give an arms race, although both countries are in NATO, Droutsas deems legitimate: "Whether we like it or not, Greece is obliged to have a strong military" point.




Resistance in its own population as Droutsas Greeks need not fear. The Greek military security sector promises to the people - and jobs. In a country without its own significant industry that is worth much. German defense companies have recognized this early and with Greek companies closely intertwined. Someone who mitverhandelte long, says: "In Greece, the arms deal as a give and take anywhere. What do I get in return when I buy a tank with you? Always it was also about compensation. Any politician who signed a treaty with the Germans hoped that a corresponding portion flows back. "


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Mon, 01/09/2012 - 13:34 | 2046962 littleguy
littleguy's picture

This is a fucking joke. 

They almost DESERVE to get fucked over.

Mon, 01/09/2012 - 13:35 | 2046964 trav7777
trav7777's picture

at least they can "defend" the drachma

Mon, 01/09/2012 - 13:39 | 2046979 SheepRevolution
SheepRevolution's picture

Bomb the persons who put you in debt. Brilliant idea...

Mon, 01/09/2012 - 13:45 | 2047006 SokPOTUS
SokPOTUS's picture

Goldman Sachs?

Mon, 01/09/2012 - 14:36 | 2047211 Don Birnam
Don Birnam's picture

Who the Devil do these Hellenes believe they have to defend themselves against ? The ghost of Hydarnes and his Immortals ? Or perhaps Berlusconi is actually the direct descendant of Titus Flamininus, and is raising an army as we speak ?

Profligate, statist fools.

Mon, 01/09/2012 - 14:41 | 2047236 ElvisDog
ElvisDog's picture

Well, historically it would be Turkey, but I don't know what the current state of Greece-Turkey relations are.

Mon, 01/09/2012 - 15:04 | 2047316 BigJim
BigJim's picture

They're both NATO, members, too, so if Turkey 'annexed' a few of the islands just off their coast, things could get interesting.

Not that we lack things of interest at the current moment, of course.

Mon, 01/09/2012 - 15:28 | 2047403 BigJim
BigJim's picture

....The Gift of the Greek Ministry of Defense has the man in the head: up to 60 fighter aircraft fighter for maybe € 3.9 billion euros. French frigates for about four billion, patrol boats worth 400 million euros, as much is the necessary modernization of the existing Greek fleet. Then it still lacks of ammunition for the Leopard tank , also would have two American Apache helicopters will be replaced. Oh, and one would like to buy German U-boats, total price: two billion euros.

I must be getting jaded - €12-18 billion just doesn't sound like a lot of money to me any more.

Mon, 01/09/2012 - 19:54 | 2048129 RealFinney
RealFinney's picture

Give it a couple of years and a croissant on des Champs-Élysées will be €20 billion.

Mon, 01/09/2012 - 15:18 | 2047370 chubbar
chubbar's picture

More likely he's a descendant of Anus Flamininus.

Mon, 01/09/2012 - 13:50 | 2047020 Ghordius
Ghordius's picture

You mean who had the diplomatic idea of pushing Greece in the NATO and then in the EU?

mhhhh... this is a long story, the short version: first the British and then the US...

Mon, 01/09/2012 - 14:30 | 2047166 Bananamerican
Bananamerican's picture

"economic hit man", a person whose job is to convince people to accept his economic claims to the long-term detriment of their press a form of economic servitude on other countries, where their leaders are pressed to accept loans, allow multi-national corporations to enter the country (arms contracts, privatization) and engage in rapacious development (infrastructure etc)...spelling out the political consequences if the leaders try to assert independence.... 

Mon, 01/09/2012 - 17:17 | 2047729 PORTA PORTA
PORTA PORTA's picture

how many of those you see on tv every day ??



Mon, 01/09/2012 - 18:22 | 2047892 YHC-FTSE
YHC-FTSE's picture

Every time I think the Greeks can't do any worse, they exceed my expectations. I think it's going to be that sort of year. 

Mon, 01/09/2012 - 13:53 | 2047022 eureka
eureka's picture

All US'ians need to start focusing on the internal shortcomings of the US economy.

Forget Greece - and start cleaning house, here, in The HomeLand.

US is losing competitive advantage in important future oriented technologies.

For anyone who is sick and tired of KEYNESIAN Fiat-Print-and-Miltary-Empire "solutions" - that's right indeed -  US EMPIRE IS A KEYNES'IAN CONSTRUCT - read here, learn, get focused and push to RE-STRUCTURE THE US ECONOMY -  by pushing the US corporate crony scumbags out of office and LOUDLY & PUBLICLY demanding US returns to R&D, education, manufacturing AND ENERGY-&-MANUFACTURING INDEPENDENCE.

Know the facts - get politically active - or die with US EMPIRE.

Mon, 01/09/2012 - 14:53 | 2047285 IBelieveInMagic
IBelieveInMagic's picture

Energy independence is desirable but is it really feasible beyond platitudes?

Mon, 01/09/2012 - 20:27 | 2048206 Dr. Acula
Dr. Acula's picture

>LOUDLY & PUBLICLY demanding US returns to R&D, education, manufacturing AND ENERGY-&-MANUFACTURING INDEPENDENCE.

If you know best how to spend other people's money, then maybe you should be in charge of the socialist central planning committee. Please let me know how much of my paycheck I need to send in.

BTW, along with energy independence, I think a strong USA also needs medical independence. In particular, I'm learning how to perform brain surgery on myself.


Mon, 01/09/2012 - 13:58 | 2047051 IBelieveInMagic
IBelieveInMagic's picture

No doubt comes fully installed with remote disabler...

Mon, 01/09/2012 - 13:36 | 2046967 TruthInSunshine
TruthInSunshine's picture

This is Sparta.

Mon, 01/09/2012 - 13:47 | 2047013 Rakshas
Rakshas's picture

.....or a seth macfarlane take on greece and the eurozone.....


{I know I've used this one before for american politics but it's just so ubiquitous lately}

Mon, 01/09/2012 - 13:55 | 2047037 Ghordius
Ghordius's picture

...go tell the Spartans that modern Greece has nothing to do with "old Sparta" (where gold was forbidden and only fiat money - made of iron - allowed)

Mon, 01/09/2012 - 14:27 | 2047170 dugorama
dugorama's picture

Go tell the Spartans, passerby:
That here, by Spartan law, we lie

Mon, 01/09/2012 - 14:44 | 2047248 ElvisDog
ElvisDog's picture

And you couldn't live with your wife until you were 30.

Mon, 01/09/2012 - 14:37 | 2047215 resurger
resurger's picture

you are fucking EPIC! Dedication



Mon, 01/09/2012 - 13:39 | 2046983 BandGap
BandGap's picture

Oh sure, but you don't have the Albanians breathing down your neck.

Mon, 01/09/2012 - 13:48 | 2046986 HamyWanger
HamyWanger's picture

"They almost DESERVE to get fucked over."

People like me have been saying that for years: i.e. that the Greeks were filthy pigs who lived like kings and behaved like arrogant parvenus for more than 10 years on borrowed (i.e. stolen) money.

But for whiny leftists, it it always the fault of capitalism, never the fault of the people. It is so easy to accuse something invisible and vaporous when the fucking responsibles are RIGHT in your eyes. 

Mon, 01/09/2012 - 13:54 | 2047035 john39
john39's picture

willing, if not ignorant, participants in the NWO scheme...  but same could easily be said of Americans, from either side of THE PARTY.

Mon, 01/09/2012 - 17:36 | 2047789 PORTA PORTA
PORTA PORTA's picture

you are completeley ingorant..

tell me smthing u IQ master. Whos teh worse economy in the world ? = US/UK and Japan.

tell me smthing else.. who;s the only country in the world who decided byitself to increase its Credit Limit in order not to default on August 2 2011 ?? = US

Have you any idea why US just decided to increase its debt limit ? Why no other country in the world can do it ?

DO you know why you are still and AA- ??

Do you know that the FED has lended 60bio Euro to ECB ?? ( swaps not loans axxaxaa so you dot get it ! ) why they did it even if the FED is not allowed to lend money to ECB ??


Do you know how many trilloins $ you ve paid to bailout your Banks so far ? YOU paied.. personally.. not me... and WHY ?


Mon, 01/09/2012 - 18:04 | 2047866 Dugald
Dugald's picture

The Fed has lended? eh? do you also say 'gots' and gotten.....English was a good commercial language till clots like you started to bastardise it...

Mon, 01/09/2012 - 18:29 | 2047906 smiler03
smiler03's picture

How good is your Greek? 

Mon, 01/09/2012 - 15:56 | 2047489 midtowng
midtowng's picture

It's not anymore insane than what is happening in America. You could say that we "deserve" to get fucked too.

Mon, 01/09/2012 - 16:32 | 2047588 equity_momo
equity_momo's picture

The Greeks are learning. After wasting billions on allowing hairdressers to retire at 50 theyre slowly investing in something that will matter. Although military software engineers and net intelligence would be more useful. Its not like they can go out and buy an oil well and expect to keep it. What else are they going to spend fiat on? They will need all the help they can get to keep the sheeple from running amok when their country is ultimately forced out into the wildnerness.

Mon, 01/09/2012 - 16:33 | 2047591 equity_momo
equity_momo's picture


dupe post.

Mon, 01/09/2012 - 13:35 | 2046965 SHEEPFUKKER

Bankrupt governments spending money they don't have on defense? Where have I seen that before?

Mon, 01/09/2012 - 13:37 | 2046970 LawsofPhysics
LawsofPhysics's picture


Mon, 01/09/2012 - 14:43 | 2047198 hedgeless_horseman
hedgeless_horseman's picture




Not really.  Greece isn't defending the Petrol Dollar. 

Bankrupt governments spending 0% money they don't have on defense of happy motoring

I'd sure love to play with Timmy's Excel macro that models the US defense budget versus oil price.  I bet the DOD gives him a ref sheet for casualties and the USDA one for the price of Cheerios.

Mon, 01/09/2012 - 13:39 | 2046978 EscapeKey
EscapeKey's picture

Africa? South America? Southeast Asia? United States of America?

Mon, 01/09/2012 - 13:40 | 2046988 SokPOTUS
SokPOTUS's picture

Those people are so screwed..........oh, wait...

Mon, 01/09/2012 - 13:51 | 2047023 EndTheMedia
EndTheMedia's picture

Did they use the cash they got from bonds backed in Greek property?

Mon, 01/09/2012 - 14:40 | 2047222 Lets Hang Parliament
Lets Hang Parliament's picture

Quite so - no different from anywhere else in the world where TPTB hold sway. And dear Ron Paul thinks he can get elected on a mandate which includes the cutting of military expenditure...regretably that aint going to happen which is a tragedy even the Greeks might understand.

Peace and war - two sides of the same coin - but let's have it that way around rather than war and peace. You can't have one without the other but as the contemporary Liverpudlian bard put it "Give peace a chance"

Mon, 01/09/2012 - 15:18 | 2047366 Cathartes Aura
Cathartes Aura's picture
Ministry of Peace (Newspeak: Minipax)

Minipax reports Oceania's perpetual war.

The primary aim of modern warfare (in accordance with the principles of doublethink, this aim is simultaneously recognized and not recognized by the directing brains of the Inner Party) is to use up the products of the machine without raising the general standard of living. Ever since the end of the nineteenth century, the problem of what to do with the surplus of consumption goods has been latent in industrial society. At present, when few human beings even have enough to eat, this problem is obviously not urgent, and it might not have become so, even if no artificial processes of destruction had been at work.

the liverpudlian bard, middle name "winston' by the by, also realised:

You say you'll change the constitution
Well, you know
We all want to change your head
You tell me it's the institution
Well, you know
You better free your mind instead

Mon, 01/09/2012 - 15:27 | 2047397 carguym14
carguym14's picture

You just earned yourself an increase in the monthly chocolate ration-from 8oz to 4oz.

Don't fall in with Goldstein.....

Mon, 01/09/2012 - 16:53 | 2047649 Cathartes Aura
Cathartes Aura's picture

as the man says,

"you better free your mind instead"

Mon, 01/09/2012 - 14:41 | 2047239 Zero Debt
Zero Debt's picture

Euro governments issues more debt. States use debt for war spending. Banks buy debt. Banks post debt as collateral to ECB. ECB gives loans. Banks use loans to buy more debt. States use debt for war spending. Cash-rich corporations can now lend money to banks through repo deals. Those banks then buy more debt. States use debt for war spending. Rinse and repeat.

Thu, 01/12/2012 - 16:49 | 2059709 zeroflow
zeroflow's picture


Mon, 01/09/2012 - 13:36 | 2046968 LawsofPhysics
LawsofPhysics's picture

Awesome, simply awesome.

Mon, 01/09/2012 - 13:40 | 2046972 Rakshas
Rakshas's picture

B-e-a-u-t-i-f-u-l ; bring on the dancing sheep......

edit almost forgot:



Mon, 01/09/2012 - 13:37 | 2046973 SheepDog-One
SheepDog-One's picture

SURE theres always enough money for a few more F-16's! SQUEEZE those olives harder! Damn peasants! 

Mon, 01/09/2012 - 13:55 | 2047038 john39
john39's picture

another slave state, er ally, needed to help bomb Iran...

Mon, 01/09/2012 - 13:58 | 2047054 Ghordius
Ghordius's picture

very kind of you, the word you are looking for is probably vassal

Mon, 01/09/2012 - 13:38 | 2046976 pufferfish
pufferfish's picture

Perhaps they're Hungry for Turkey?

Mon, 01/09/2012 - 14:05 | 2047075 Caviar Emptor
Caviar Emptor's picture

Nope. It's to foght off their own citizens. Happened many times before

Mon, 01/09/2012 - 14:32 | 2047183 kito
kito's picture

i really doubt they need 3.5 billion dollar of modern weaponry to fight off their own citizenry.....

Mon, 01/09/2012 - 13:39 | 2046980 Catullus
Catullus's picture

Circle jerk

Mon, 01/09/2012 - 13:42 | 2046990 pufferfish
pufferfish's picture

Syria's'ly. Olive oil might not be the only type they obtain soon. 

Mon, 01/09/2012 - 15:08 | 2047323 Think for yourself
Think for yourself's picture

Well said. How to get rich while fucking the peasants?


  1. Secure massive bailout with the peasants as collateral.
  2. Spend bailout money on MIC gear, thereby sending the principal to the same agentur that created the debt in the first place without actually paying the debt.
  3. Argue for the danger of debt crisis.
  4. Go to 1.
Mon, 01/09/2012 - 13:39 | 2046981 ThisIsBob
ThisIsBob's picture

Can we sic them on Iran?

Mon, 01/09/2012 - 13:41 | 2046989 SokPOTUS
SokPOTUS's picture

*That* would be unexpected.

Mon, 01/09/2012 - 13:57 | 2047049 lolmao500
lolmao500's picture

Sell that as ``payback`` for when Persia tried to invade Greece.

Mon, 01/09/2012 - 15:08 | 2047333 BigJim
BigJim's picture

Wasn't Alexander the Great payback enough?

Tue, 01/10/2012 - 08:50 | 2049692 Archduke
Archduke's picture

+1. Another way to read this is "Europe is investing in its Mediteranean armed forces".

With elements of the Russian fleet parking off Syria, uncertainty with regards to Suez,

and a major power struggle happening over Hormuz and the Caspian, this may not seem

like a bad idea.  Now core european nations in this austerity climate could not possibly

justify a spending boost, but greece does nicely: it can't possibly sink faster at any rate.

This is win-win for Europe.  the handouts boost core production and serve its interests.

Mon, 01/09/2012 - 13:39 | 2046982 BlueStreet
BlueStreet's picture

Sorta like folks buying Christmas gifts with their welfare payments.  What a great world we live in.  



Mon, 01/09/2012 - 13:43 | 2046996 SokPOTUS
SokPOTUS's picture

I think they *should* get me a gift for all I do for them.  I'm sure it will be arriving any day now...

Mon, 01/09/2012 - 13:52 | 2047029 NotApplicable
NotApplicable's picture

More like using the last of your remaining credit at the payday loan place to borrow the money to build the gallows from which you will swing. Well, that and a forty.

Mon, 01/09/2012 - 14:28 | 2047171 Cathartes Aura
Cathartes Aura's picture

it's the JPM SNAP benefit card model - issue the card with credits, add limitations on what can be "purchased" with the credit, and stick the populace with the debt.

just expanded to nationstate level, tested on amrkns, exported.

Mon, 01/09/2012 - 13:39 | 2046984 Council of Econ...
Council of Economic Terrorists's picture

Unicorns, Skittles, Rainbows and Apaches.

Mon, 01/09/2012 - 13:40 | 2046985 ebworthen
ebworthen's picture

You can't make this stuff up.

"Reach around", aye.

Mon, 01/09/2012 - 13:43 | 2046995 EndTheMedia
EndTheMedia's picture

Germany just sold greece a stealth 60 foot wooden horse. 

Mon, 01/09/2012 - 13:44 | 2047002 SokPOTUS
SokPOTUS's picture

Who are they going to use it on this time?

Mon, 01/09/2012 - 13:46 | 2047009 EndTheMedia
EndTheMedia's picture

They are not sure yet. The germans just told them to store it in on there largest airfield.

Mon, 01/09/2012 - 14:23 | 2047157 wandstrasse
wandstrasse's picture

like in 'Monty Python and the Holy Grail' we forgot to get inside the horse before placing it in Greece...

Mon, 01/09/2012 - 13:45 | 2047000 NotApplicable
NotApplicable's picture

Molon Labe!

Mon, 01/09/2012 - 13:44 | 2047001 tony bonn
tony bonn's picture

yes greece is obliged to have a strong military to destroy its people and to attack on a moment's notice whenever the usa orders it to do so...

Mon, 01/09/2012 - 14:01 | 2047061 agent default
agent default's picture

Oh yaeh?  Have you ever taken a casual look at the weapon systems deployed by the Greek armed forces?  It is a clusterfuck of Russian, East European, West European and US systems.  Exactly how they run logistics for all this crap is beyond me.  Then again, if weapon purchases are governed by politics, this is what you get.

Mon, 01/09/2012 - 14:32 | 2047189 Cathartes Aura
Cathartes Aura's picture

it's more about the purchasing, less about using what one bought.

growth, passed hand to insane hand.

Mon, 01/09/2012 - 14:36 | 2047208 Zero Debt
Zero Debt's picture

Simple. Greece military procurement department got tired of Russian hookers and wanted to try something new, and so on.

Mon, 01/09/2012 - 13:47 | 2047010 non_anon
non_anon's picture

a bloodbath awaits

Mon, 01/09/2012 - 13:47 | 2047012 Alex Kintner
Alex Kintner's picture

If they won't eat the cake, Let them eat Hellfire Missles.

Mon, 01/09/2012 - 13:49 | 2047018 Reptil
Reptil's picture

Oh... great. Dutch taxpayer money (roughly 5 billion) for useless secondhand militairy equipment.


Mon, 01/09/2012 - 13:50 | 2047019 yogibear
yogibear's picture

Their getting into the guns, ammo and food thing.

Mon, 01/09/2012 - 13:52 | 2047030 Hephasteus
Hephasteus's picture

So the IMF is doin the same playbook. GE needs money we'll give you money to buy a nuclear power plant but you have to pay us back a debt that can't be repaid. A defense contracter needs money. We'll pay for your social programs if buy enough planes.

Also used by Intel. 1986. You can buy 100 286 chips if you buy 1000 8086 chips. But we don't want your 8086 chips we want your 80286 chips. You can buy 100 286 chips if you buy 1000 8086 chips.

Same playbook. You can pay your government employees and keep them from rioting if you buy 3 planes.

Fair efficient markets run entirely off coersion.

Mon, 01/09/2012 - 13:54 | 2047034 lolmao500
lolmao500's picture

Greece needs to overthrow these scumbags, get the fuck out of NATO and the EU, arrest all the bankers, HANG THEM. And tell any fucker who is upset to FUCK OFF.

Mon, 01/09/2012 - 14:03 | 2047070 Caviar Emptor
Caviar Emptor's picture

It will take lives. Actually, the exact number of lives equals the killing potential of the arms they bought

Mon, 01/09/2012 - 14:09 | 2047098 lolmao500
lolmao500's picture

Of course it will take lives. Freedom is paid for in blood.

Mon, 01/09/2012 - 14:04 | 2047071 Rakshas
Rakshas's picture

They could take the Icelandic aproach default on the lot, then invite the GOP candidates over for another debate, pipe the bullshit into the Santorini Caldera  that should increase the pressure to critical levels enough to cause an eruption that should finish off what's left of the EU........ just a thought...

Mon, 01/09/2012 - 14:05 | 2047076 MsCreant
MsCreant's picture

We all need to overthrow these scumbags, Greece is not special. Different fucking day, same fucking shit.

Mon, 01/09/2012 - 15:15 | 2047359 BigJim
BigJim's picture

If Greece displeases its masters, they'll just let Turkey annex the Dodecanese Islands and most of the Northern Aegean.

Mon, 01/09/2012 - 13:57 | 2047039 AC_Doctor
AC_Doctor's picture

A new leader of the Greek people will soon emerge and the Greeks will take back what is rightfully theirs and litter the streets with traitors hanging by short ropes.  It will also happen here someday soon...

Mon, 01/09/2012 - 13:59 | 2047040 Manipulism
Manipulism's picture

Next Bilderberger meeting 2012 at Haifa - Hotel Rothschild.

No joke.

So no war with Iran until then.

Dont know the date.

Mon, 01/09/2012 - 14:45 | 2047254 Cathartes Aura
Cathartes Aura's picture

with more and more "conspiracy theory" stuffs becoming so obvious, rubbing the collective noses in their own denial, some folks will have steep learning curves this year, and some will continue to pay close attention to the final puzzle pieces being fit into the story.

they really don't care to be "secretive" about much any more, do they.

Mon, 01/09/2012 - 15:55 | 2047485 Manipulism
Manipulism's picture

Why should they?

Nobody cares or do something.

I am amazed not one banker or Pol is shot down from a broken shee so far.

What are your guns for mericans?

Shoot yourself?

Mon, 01/09/2012 - 13:57 | 2047041 agent default
agent default's picture

Apparently the way it works is this:  Greece agrees to buy useless European junk in return for a bailout.  It is just extortion from France and Germany, to sell crap that would not stand a snowball's chance in hell in a real war, to a country whose economy doesn't stand a snowball's chance in hell.   Don't you just love European solidarity?

Mon, 01/09/2012 - 13:56 | 2047042 LongSoupLine
LongSoupLine's picture

Iranian attack puppets.  Look deeper folks...look deeper.

Mon, 01/09/2012 - 13:58 | 2047043 Jack Burton
Jack Burton's picture

Fucking beautiful!  What more do you need to know about the elite 1% who have carried out a revolution from above against civil society.

Doctors only treat emergencies while billions of Euros pour into weapons systems. So Greece needs to be able to fight who? Turkey? They are both in NATO aren't they? Or does NATO want Greece well armed in order to boost it's invasion and bombing forces for the next attack on an oil producing state?

The great rip off continues, Greeks are being suckered big time.

Mon, 01/09/2012 - 14:08 | 2047091 MsCreant
MsCreant's picture

The average Greek does not know about this shit at all. They are not being suckered, they are being lied to. 

Austerity, riiiight.

Mon, 01/09/2012 - 14:56 | 2047293 wandstrasse
wandstrasse's picture

well said, JB. It is a shame to be human. Very few ones are the incarnation of evil while most - including myself - are stupid enough to eat the bad tasting and viscous bait of some ridiculous wealth illusion.. whoa shopping useless stuff via my smartphone..this is really it... while others let themselves enslave / slaughter / starve and blame everyone but not the right ones for their dire fate, if they blame anyone at all... <\rant>

Mon, 01/09/2012 - 13:56 | 2047044 americanspirit
americanspirit's picture

In the midst of all this let's keep in mind that Greece has leased major airbase space to Israel and that Israeli AF aircraft are now more or less permanently stationed in Greece. So of course Greece has to update its own war machinery to be able to keep up with the pace of its new best friends. One wonders if Israel is also sharing a few of its nukes with the Greek Generals - you know, just between friends.

The psychopaths are indeed running the asylum.

Mon, 01/09/2012 - 14:49 | 2047270 Cathartes Aura
Cathartes Aura's picture

batting a thousand on that one sir!

not much else needs be said.

Mon, 01/09/2012 - 13:57 | 2047047 Kaiser Sousa
Kaiser Sousa's picture

hilraious...every day brings a new insult to the debt slave citizenry of this bankrupt, bullshit, banker run kleptocracy,. but oh wait...

did u c Tebow yesterday???

the bitch ass american populace deserves the ass fucking their getting on the daily...WHAT YA'LL GONNA DO ABOUT IT????????

now, off to my coin dealer....ur welcome

Mon, 01/09/2012 - 14:02 | 2047063 Jack Burton
Jack Burton's picture

I missed Tebow! But I did catch ManU against ManCity in the FA cup!

Who cares about being ripped off by the elites when Ronney scores a cracking header and ManU moves on in the FA cup!

The bread and circus shows must go on, and they will go on! Ingnore the giant banker rip offs, watch the games. Pretty soon we will be thowing Muslims to the lions at the forum.

Mon, 01/09/2012 - 14:10 | 2047107 MsCreant
MsCreant's picture

"Pretty soon we will be thowing Muslims to the lions at the forum."

What do you call all the wars we are conducting now?

Nothing personal, I am just so tired and feel pretty worthless myself...

Mon, 01/09/2012 - 15:29 | 2047408 slewie the pi-rat
slewie the pi-rat's picture


try this maybe:

  1. tell you're degenerate spawn they are going for a walk or ride with you.  mandatory
  2. when you arrive @ the dollarStore, wait outside while you give any that didn't flee $1 (+ tax?) so they each can buy you something, and you want it in a bag, so you can look in when you choose and see what you got
  3. then, when they come out and give you the bags, asks them what they're planning on making for dinner...


Mon, 01/09/2012 - 14:01 | 2047064 Caviar Emptor
Caviar Emptor's picture

With that Greek arms deal, you can subtract the number of lives equal to its killing power. That's what it was meant for and that will be the price to settle the score

Mon, 01/09/2012 - 14:05 | 2047079 john39
john39's picture

bread and circus...  the playbook is as old as time, but damn if it isn't still effective. 

Mon, 01/09/2012 - 13:57 | 2047048 fuzed
fuzed's picture

Calling President Eisenhower:  time to start spinning faster.

"In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the militaryindustrial complex. The potential for the disastrous rise of misplaced power exists and will persist.

Mon, 01/09/2012 - 13:58 | 2047052 stant
stant's picture

meanwhile afganistan gets the new a 29 super tucano. think of a p 51 on botox

Mon, 01/09/2012 - 13:59 | 2047057 Caviar Emptor
Caviar Emptor's picture

Don't you get it yet? The elite need to arm themselves. Think the US is different? Local law enforcement bought APCs this summer in response to OWS

Mon, 01/09/2012 - 14:21 | 2047147 MsCreant
MsCreant's picture

I'm pissed so I'm picking on you. Fight club.

How the fuck do you use 60 jets and all those boats on your own citizens? Huh? Makes no sense.

Mon, 01/09/2012 - 15:10 | 2047340 MachoMan
MachoMan's picture

Because they won't bow and kiss the ring... 

it's THE defining characteristic of self motivation when power has been accumulated...  do EVERY thing you can to keep it...  barriers to entry...  legal prohibitions...  etc.  At some time, the powerful become consumed by the power and become more and more brazen and open about its exercise...  sometimes this is confidence based in reality...  sometimes it's fictional puffery...  I fear the former. 

Tue, 01/10/2012 - 00:59 | 2049151 MsCreant
MsCreant's picture

Hey MachoMan,

My question was literally HOW? I don't think it is doable.

Tue, 01/10/2012 - 11:10 | 2050099 MachoMan
MachoMan's picture

Do you mean physically or mentally?  The mental exercise has already been done...  e.g. why did we drop our pants and grab our ankles in the hopes that Japan would attack?  Morally speaking, I see no material difference between this and doing it ourselves.  And the mental part is the "tough" part...  once you can look past the morality to the end, then you're able to come up with a myriad of excuses to justify the means.

Physically, it's very easy...  you just push a button or give a command...  becoming mentally and morally capable of pushing the button or giving the command is another thing entirely.  I'll posit that the people who are capable of self-determining that they're capable of speaking for and leading the rest of us are people who have likely already made the pre-requisite moral preparations...  (this is why they keep happening...  think of the woman who keeps finding abusive men for sexual partners).

Tue, 01/10/2012 - 11:14 | 2050135 MsCreant
MsCreant's picture

Jets, flying over Athens, firing on the people?

I am with you conceptually. The jets however are quite literal over kill. That is why I called bullshit on the idea that the planes and boats were purchased to use on their own people.

Tue, 01/10/2012 - 14:15 | 2050916 MachoMan
MachoMan's picture

At the very least, overkill is the basis of deterrence...  I don't think they even need to get used to portray a desired message...  whether it be to the local citizenry or surrounding countries...

This is the problem with defense spending, be careful what you wish for...  all those neat toys might come home to roost.

Mon, 01/09/2012 - 14:00 | 2047058 agNau
agNau's picture

This is the most interesting story I have seen in quite some time. Implications:
The "Front Line" of broke, is attempting to lay down their last line of defense. Their "Front Line"!
This would be the epitome of confirmation.
In the end all countries turn to their military.(ME and the US)
I have said for some time, things will accelerate. Thought outcomes will transpire much more quickly due to information sharing speeds. The only thing slowing down the process is the "Amazing Sheep's" inability to gather, process, and turn out the proper result with that information.
Combine the "normalcy bias" and the "deer in the headlights" reaction, along with the above, and you will know why we are still Airborne.
They indeed fiddle while Rome burns!

You may want to move your timeframes a little closer in.
You are behind schedule.

Mon, 01/09/2012 - 14:06 | 2047082 The Ram
The Ram's picture

Wowl! Imagine using bail-outs for cover to further fund the multi trillion dollar Military Industrial Complex.  Yep, these are the worlds's best and the brightest!  Best criminal minds money can buy!

Be shocked!


Mon, 01/09/2012 - 14:08 | 2047092 Caviar Emptor
Caviar Emptor's picture

Maybe use citizens as slave labor, ya think?

Mon, 01/09/2012 - 14:08 | 2047094 Clifhanger
Clifhanger's picture

Following the KIM JONG IL business model.  A bit late to the game though I'd say.

Mon, 01/09/2012 - 14:12 | 2047111 Shizzmoney
Shizzmoney's picture

From Fargo to Athens, Governments are becoming more militarized in their efforts to get ready for the collective Global Uprising against Banker epic fail rule.

That's why if protestors attack the cash, then we will see how much the bankers' protectors (military/police) will have the deisre to protect these assholes from the millions' of hungry, pissed off masses.

As Bart Scott says, "Can't Wait".

Mon, 01/09/2012 - 14:17 | 2047113 carbonmutant
carbonmutant's picture

10 to 1 they have an unapproved customer who will pay them more... Profit Margin bitchez

Mon, 01/09/2012 - 14:24 | 2047153 MsCreant
MsCreant's picture

This is plausible. We are all arms dealers now...

If the inventory leaves the show room floor though, someone who won't like it, would notice...or is it just that fucked?

Mon, 01/09/2012 - 14:18 | 2047115 TruthInSunshine
TruthInSunshine's picture



Greece & Portugal have entered into a reciprocal military alliance, obligating each other to assist the other in attacking any nation that "dares to utter the word 'austerity' with respect to either of their budgets again."

De Facto Greek Leader, Leonidas, has stated that Greece's recent purchase of "asininely expensive Eurojet Fighters on terms of credit that would make the average Aaron's Rent-A-Center customer blush with embarrassment," which Greece plans on deploying jointly with Portgugal, will "make anyone intent on forcing economic reality on insolvent nations such as ours think twice or three times before doing so."

Portuguese officials have declined comment for the time being, but one high ranking minister was spotted by neighbors practicing military tactics in his back yard, using a hoplite & doru, assisted by a team of Greek advisers, over the past weekend, while a man appearing to be Italian ex-Prime Minister Silvio Berlusconi held a bunga-bunga session on another portion of the property.



Mon, 01/09/2012 - 14:23 | 2047116 Zero Debt
Zero Debt's picture

Greece is also proud to be a public customer of Raytheon for the Patriot missile system.

But in a way, this defense stuff is old news. Back in March 2011 the German company Ferrostaal AG was making bribes to get Greece to buy submarines:

"Greece is the largest importer of conventional weapons in Europe and its military spending, the highest in the European Union, is widely accepted as one of the main reasons for the parlous state of its finances."

Just following the trail of this company alone reveals massive audit issues, corruption, bribery and global business deals. Here's a 140+ page audit:

Ferrostaal is owned by MAN which is a major German industrial company:,1518,686513,00.html

Turns out they were bribing Portugese officials as well. And then Germany goes out of their way to bail out Greece and Portugal. What a club.

Mon, 01/09/2012 - 15:18 | 2047369 The Reich
The Reich's picture

"Ferrostaal is owned by MAN which is a major German industrial company"


Ferrostaal has been sold to the German investment company MPC in Dec 2011.

Mon, 01/09/2012 - 14:13 | 2047117 agNau
agNau's picture

Massive inverted Head and Shoulders (Consolidation/Continuation)pattern forming in Silver. Starting at the record setting high the end of April. B/O through downtrend line, will complete "head" and finish the pattern(exit shoulder) in an abbreviated fashion as with all highly bullish markets within this type of pattern.

End Game.

Mon, 01/09/2012 - 14:14 | 2047123 Sandmann
Sandmann's picture

Arms deals are the  best commission business and Greece has a tank army bigger than Britain - even Germany is running down its tank stocks now it has abolished the draft and needs money. Greece has started defence cooperation with Israel to ward off Turkey. No doubt the commissions will be deposited at the ECB

Mon, 01/09/2012 - 14:18 | 2047136 ozziindaus
ozziindaus's picture

Doe's anyone know what ever happened to that old drunk Greek guy that used to hang around Brunswick street? You Good Boy?

Mon, 01/09/2012 - 14:21 | 2047148 slewie the pi-rat
slewie the pi-rat's picture

it's always reassuring to consider the world-wide love for blowing stuff up

Mon, 01/09/2012 - 15:02 | 2047308 Cathartes Aura
Cathartes Aura's picture

global village rape and pillage.

Mon, 01/09/2012 - 14:22 | 2047152 Matt
Matt's picture

Defense Contractors need their share of the pie too. This allows the countries that donate to Greece to boost their own GDP numbers so they can "afford" to borrow more money themselves. If maintaining the status quo as long as possible is the goal, this seems like a decent strategy.

Mon, 01/09/2012 - 14:23 | 2047154 marcusfenix
marcusfenix's picture

what Iron Maiden sang about in 1984 remains true the world over today, the names might change but the song and dance remian the same-

Two minutes to midnight-

Kill for gain or shoot to maim
But we don't need a reason
The Golden Goose is on the loose
And never out of season
Blackened pride still burns inside
This shell of bloody treason
Here's my gun for a barrel of fun
For the love of living death

The killer's breed or the Demon's seed,
The glamour, the fortune, the pain,
Go to war again, blood is freedom's stain
Don't you pray for my soul anymore?

2 minutes to midnight,
The hands that threaten doom.
2 minutes to midnight,
To kill the unborn in the womb.

The blind men shout "Let the creatures out
We'll show the unbelievers."
The napalm screams of human flames
Of a prime time Belsen feast ... yeah!
As the reasons for the carnage cut their meat and lick the gravy
We oil the jaws of the war machine and feed it with our babies.

The killer's breed or the Demon's seed,
The glamour, the fortune, the pain,
Go to war again, blood is freedom's stain
Don't you pray for my soul anymore.

2 minutes to midnight,
The hands that threaten doom.
2 minutes to midnight,
To kill the unborn in the womb.

The body bags and little rags of children torn in two
And the jellied brains of those who remain to put the finger right on you
As the madmen play on words and make us all dance to their song
To the tune of starving millions to make a better kind of gun.


Mon, 01/09/2012 - 16:12 | 2047538 PORTA PORTA
PORTA PORTA's picture

Great song

The Greatest group of all times ( in Metal )


my fav song is Hallowed by Thy Name...


I'm waiting in my cold cell, when the bell begins to chime.
Reflecting on my past life and it doesn't have much time.
'Cause at 5 o'clock they take me to the Gallows Pole,
The sands of time for me are running low...

Running low--ooohhh...
When the priest comes to read me the last rites,
I take a look through the bars at the last sights,
Of a world that has gone very wrong for me.

Can it be that there's some sort of error?
Hard to stop the surmounting terror.
Is this really the end, not some crazy dream?

Somebody please tell me that I'm dreaming,
It's not easy to stop from screaming,
But words escape me when I try to speak.
Tears flow but why am I crying?
After all I'm not afraid of dying.
Don't I believe that there never is an end?

As the guards march me out to the courtyard,
Somebody cries from a cell "God be with you".
If there's a God then why does he let me go?

As I walk my life drifts before me.
Though the end is near I'm not sorry.
Catch my soul, it's willing to fly away.

Mark my words believe my soul lives on.
Don't worry now that I have gone.
I've gone beyond to see the truth.

When you know that your time is close at hand,
Maybe then you'll begin to understand
Life down here is just a strange illusion.

Yeah, Yeah, Yeah...Hallowed be Thy name
Yeah, Yeah, Yeah...Hallowed be Thy name




Mon, 01/09/2012 - 14:33 | 2047193 JohnG
JohnG's picture

More lunacy:

Should pedophiles get disability pay? Greece says yes, along with pyromaniacs and kleptomaniacs: -EF



Mon, 01/09/2012 - 14:44 | 2047250 MsCreant
MsCreant's picture

I'd give you an up tick for posting this, but then would that mean I like this? 


Mon, 01/09/2012 - 14:50 | 2047274 JohnG
JohnG's picture

Yeah, I see the dilemma......

It is insane.  Greeks gone mad.

Mon, 01/09/2012 - 14:35 | 2047206 Odin
Odin's picture

Well of course they are buying weapons... How else are they going to keep their people subdued?

Mon, 01/09/2012 - 14:39 | 2047228 FairyTale
FairyTale's picture

Goldman Sachs militarising itself to protect puppet bankers.  Will soon have enough weapons to take on .............

Mon, 01/09/2012 - 14:42 | 2047242 brent1023
brent1023's picture

Let me see - huge deficits, continue to spend on the military far beyond reason, ..

Who else could that apply to? Hmm...

Mon, 01/09/2012 - 14:47 | 2047267 Peter Pan
Peter Pan's picture

They are buying all this equipment but i can assure that very soon they will be out of fuel and soon thereafter out of ammunition.

Mon, 01/09/2012 - 14:54 | 2047287 Dick Darlington
Dick Darlington's picture

OT: Austerity in Belgium. Lol! Politicians NEVER fail...

Mon, 01/09/2012 - 15:04 | 2047319 blindman
blindman's picture

got the engines, can't afford the fuel or
pilots/drivers etc...what a country / union!
Tom Waits Big In Japan

Mon, 01/09/2012 - 15:06 | 2047325 pcrs
pcrs's picture

Repression is the health of the state. To tax your servants, you need a strong military to rob their hard earned money. Like a lion or eagle needs sharp claws to kill the prey that grazed for hours to collect proteines, the state needs claws as well in the form of the military. Usually the state reveals their nature by putting an eagle or lion in their flag.

Mon, 01/09/2012 - 21:37 | 2048353 Dr. Acula
Dr. Acula's picture

>Usually the state reveals their nature by putting an eagle or lion in their flag.

"Ballot Measure 1069[2] was proposed in the State, which would alter the seal. This measure would require the Seal of the State of Washington to be changed to depict a vignette of a tapeworm dressed in a three piece suit attached to the lower intestine of a taxpayer shown as the central figure. The seal would be required to be encircled with the following words: “Committed to sucking the life blood out of each and every tax payer.”"

Mon, 01/09/2012 - 15:14 | 2047354 HarryM
HarryM's picture

Who would invade Greece , when you can buy it for 50 cents?

Mon, 01/09/2012 - 16:01 | 2047506 xela2200
xela2200's picture

Are You Crazy? They have a negative net worth. You would have to pay me to take off your hands.

Mon, 01/09/2012 - 16:09 | 2047530 PORTA PORTA
PORTA PORTA's picture

you think we re so cheap ??

in the states you are the JOKE fo the CENTURY... you incerased your cr line by yourselves !! xaxaaaa in order not to default... and you wull increase it again in 2012...

so you are the only contry in teh world in the deepsest shipp of all ( together with UK and JAP ), who HAS THE RIGHT TO INCREASZE THE CREDIT/BORROWING LIMIT..!!! WITHOUT BEING DOWGRADED FOR THAT REASON ALONE...

So tell me... who's in better NPV?? Hellas or USA ?

It seems you are not aware of who owes us money... lots of them.. ( 200dio E )...



Mon, 01/09/2012 - 15:46 | 2047459 bigfire
bigfire's picture

If I remember correctly, one of Greece's favorite budget trick is not counting ANY military expenditure in their budget, thus seriously under report the problem with their deficit.  This comes as no surprise, as the current unelected technocrats government obiviously still does not see any issue with this behavior.

Mon, 01/09/2012 - 15:59 | 2047502 xela2200
xela2200's picture

Another welfare check finds its way to the malt liquor section.

Mon, 01/09/2012 - 16:04 | 2047516 PORTA PORTA
PORTA PORTA's picture

The same ponzi strategy all over again.

Thay pass loans, countries get the loans and order cars and weapons.. from Germany/France..

Same time, Siemens ect the atrists of bribery, make sure that the loans/orders will be executed, and the keep Gwermn workers busy, and add to the surplus og germany.

What is left? Countries in deep shit-debt, politicians with Phd in money laundering ( with a little help from Juenker and Lichenstein ).... in one case.. we ordered 4 submarines, we paid for 5 !!! and one of those was damaged ( tilted ) lol...

So today they plan the new business. Pass New Loan Facilities, and behind the schenes get he contracts for weapons ect.

Do you wish to have a look on the Greek Sustainability Analysis - ( CONFIDENTIAL doc )??


here it is.


i wish i was the minister of Finance.. in 5 hrs i d have all the whitecolar a/h running for their lives.






Mon, 01/09/2012 - 16:50 | 2047643 Hephasteus
Hephasteus's picture

Nice analysis.

Now how did greece get france to loan them so much money that thier banks were stinking holes in the ground who then go off and steal everything they can without looking too much like bad guys from Libya while greece threw more and more meat shields in front of government buildings. And is libya oil going to come online fast enough to supply europe while the iran fiasco get's too much urgency and out of step with plans.

Mon, 01/09/2012 - 17:26 | 2047757 PORTA PORTA
PORTA PORTA's picture

The Libyan oil needs another 6-12 months.......

Today only Iran accepts Gov Guarantees ( not only the Greek ones !! )

You know Airbus cannot deliver to Emirates because German/French bank stopped giviong cretid ??

My friend we had corrupt politicians. Siemens. Ferrostaal ect.. bribed them in order to get the contracts ! The same time they offered cheap loans ( 100-130bp ) !! The German coutrs have made it clear...

What is important to know and to understand is that Merkel KNOWS the names of Greek politicians who were paid in order to sign... and today THE SAME POLITICIANS "negotiate" the Loan Facility Agreements..

its a JOKE.. but they will all ago to jail one day.

Germany has Austria to take car off and France Italy.. Q1 2012 will be very interesting..

I am waiting tomorrow;'s meeting between Langadre-Merkel..




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