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Greek Election Cheat Sheet

Tyler Durden's picture


Information surrounding the Greek Election, Courtesy of Global Macro Leverage Sales:

  • 12:00 EDT/17:00 London                                                 Polls close
  • 14:00 EDT/19:00 London – 15:00 EDT/20:00 London       First official projection
  • 17:00 EDT/2200 London                                                  Updated projections
  • 19:00 EDT/24:00 London                                                 another updated projection
  • 1:00 EDT/6:00 London (Monday)                                      Final results expected

The outcome will be too close to call if the difference between the first two parties is less than 2%-3% with strong precedent of exit polls failing to predict the outcome when the race is tight.


Where can I follow the results?

  • Official results are to be streamed onto the Ministry of Interior website (
  • These results will NOT be an accurate representation of the final outcome. Numbers are fed through as they come in and this strongly biases the sample towards the rural regions in the early hours of counting.
  • The Ministry of Interior will be releasing more reliable estimates of the final result on Greek TV - this will not be available on the website.
  • The international press may also be reporting the unweighted "raw" results rather than the weighted sample - so, care needs to be taken in interpreting these results.


Who will win?

  • Polls released before the blackout period pointed to a moderate lead for New Democracy over SYRIZA, but with a large number of undecided.
  • The absence of a TV debate (talks on arranging that broke down one week ago) is likely to have worked in favour of New Democracy leader, Samaras.
  • The Spanish bank recapitalization package has not had a major influence on the strength of the political discourse of either SYRIZA or New Democracy, merely strengthening both parties' calls for the need to re-negotiate.


What happens on Monday?

  • In Greece, coalition talks will begin immediately.
  • It is unlikely that any party wins a sufficient number of votes to form an independent government.
  • A combined 35-40% of the vote (depending on how many parties cross the 3% threshold to enter parliament) is required to have a sufficient number of MPs (more than 150) to form a government.
  • The party leader of the top three parties each has the right to attempt to form a government for three days.
  • If these attempts fail, the President of the Republic convenes all leaders to try and generate consensus.
  • If this fails, a third election will be called.

Will a government be formed?

  • If New Democracy comes first, a government with PASOK (and possibly Democratic Left) will be formed in a relatively short period. Participation from the Democratic Left would be a positive as it would broaden the new government's democratic legitimacy and increase its stability.
  • If SYRIZA wins, formation of a government would be more difficult. This would likely involve support or "tolerance" from one or more of the Independent Greeks, Democratic Left, PASOK and the Communists, in roughly that order of likelihood.
  • Tolerance" would involve the parties abstaining from parliament during the confidence vote. Confidence vote can be obtained (subject to 120 being present in parliament) subject to a majority of MPs present voting in favour.

Via: Citigroup


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Sat, 06/16/2012 - 17:29 | 2532679 Mr. Fix
Mr. Fix's picture

I'll be watching with bated breath!............(not)........


This will be like the next U.S election........compleatly irrelevant!

Sat, 06/16/2012 - 17:53 | 2532712 slewie the pi-rat
slewie the pi-rat's picture

it's not greece if we don't cheat!

in totally unrelated news, the summer0lympics are july 27 - aug 12; inLondon

no wonder the brits have gone turbo to her majesty's ink supply

this could be the last great hurrah of the horsey set b4 the collapse of civilization when the bills are due

Sat, 06/16/2012 - 18:04 | 2532722 Mae Kadoodie
Mae Kadoodie's picture

Are Diebold voting machines being used?

Sat, 06/16/2012 - 18:16 | 2532728 bank guy in Brussels
bank guy in Brussels's picture

It's worse ... Diebold makes some of the European bank ATM machines

Sat, 06/16/2012 - 19:11 | 2532765 AldousHuxley
AldousHuxley's picture

what the heck is the election about anyway?


pain now or pain later......either way people will pay and government elites and banksters will retreat in a foreign hideout.


If you are a greek, ask a frenchy on how to bring about a real change.....bring out the GUILLOTINE.

Sat, 06/16/2012 - 21:55 | 2532988 RiverRoad
RiverRoad's picture

 I've been sitting here with my knitting needles for a hell of long time now.....

Sat, 06/16/2012 - 23:01 | 2533081 Newsboy
Newsboy's picture

Harvard history prof, Niall Ferguson makes a bold call.

"If Europe is to have a Lehman moment, it will be this coming week"

This is a testable hypothesis in a relatively short time frame.

Sun, 06/17/2012 - 01:17 | 2533226 nevadan
nevadan's picture

Europe is going to have a Lehman moment.  It could be as soon as this week.  :)

Sun, 06/17/2012 - 10:05 | 2533671 Newsboy
Newsboy's picture

Testable hypothesis...

Sun, 06/17/2012 - 10:52 | 2533786 The Monkey
The Monkey's picture

Response is the prime time event, not Greece.

Sun, 06/17/2012 - 11:02 | 2533814 francis_sawyer
Sat, 06/16/2012 - 22:15 | 2532947 algol_dog
algol_dog's picture

Makes sense doesn't it ... As the vote count comes in the software can instantaneously shut down the ATM's if the results look unfavorable. Just what do you think those "preparations for Greek default" discussions were about?

Sun, 06/17/2012 - 11:28 | 2533875 AldousHuxley
AldousHuxley's picture

elites hate making it easier to vote.

people do online banking and day trading of thousands of dollars every day.

surely vote machine can be more honest than humans putting their hand in the vote jar.


elite know that when online voting comes, they actually have to work for people instead of  lobbysts.


there is a reason why they don't want a more efficient voting system in this day and age......they don't want you to vote!

Sun, 06/17/2012 - 11:10 | 2533829 Short-Squizz
Short-Squizz's picture

For a failed bank...

Sat, 06/16/2012 - 18:27 | 2532737 slewie the pi-rat
slewie the pi-rat's picture

the muslimBrotherhood is gonna do the purple finger thing just in case it goes to the courts

slewie's prediction: 29%,  28%,  27% ,  15% other,  and  1% still undecided

uPikEm on syrizzza, newD and the incrediblePasokPie-Hole:  V-man   and...good luck, BiCheZ!!

Sun, 06/17/2012 - 08:12 | 2533493 Motorhead
Motorhead's picture

Hehe.  And why did Goldman Sachs come to mind?

Sat, 06/16/2012 - 18:09 | 2532725 macholatte
macholatte's picture




In an annual survey, the Greek branch of Berlin-based Transparency International said the overall estimated cost of petty corruption for 2011 had fallen from €632m in 2010 to €554m last year.


Greek debt crisis hits bribery culture

Sat, 06/16/2012 - 23:06 | 2533090 Newsboy
Newsboy's picture

"Bribes", what an unpleasant term.

American corporate medicine would describe these as "copays until the annual deductable is met".

There, isn't that much more reasonable?

(Well, the deductable is whatever you've got...)

Sun, 06/17/2012 - 04:44 | 2533369 YuropeanImbecille
YuropeanImbecille's picture

I am hoping that "Golden Dawn" or whatever they are named and/or the communist get more votes than last time. It is time to send a clear message to the satanist-zionists in charge of the EUSSR.


Today you need to go with fringe parties to make your voice heard, if they are communist or right-wing is of lesser importance. Those who can not understand this deserve what is coming.

Sun, 06/17/2012 - 07:23 | 2533462 smb12321
smb12321's picture

That kind of thinking is EXACTLY what happened in Germany pre-Hitler.  Folks kept voting further and further for the fringes until one side (the Communists) were eliminated.  Of course, liberal democrats had been sidelined for so long the other devils took over. 

Sun, 06/17/2012 - 12:37 | 2534074 bankruptcylawyer
bankruptcylawyer's picture

not quite the berlin olympics of 1936. but the olympics of 2012 could concievably be the last olympics before 2020.

Sat, 06/16/2012 - 21:53 | 2532986 RiverRoad
RiverRoad's picture

Democracy in action!

Sat, 06/16/2012 - 22:48 | 2533060 Mareka
Mareka's picture

Irrelevant US election....

Yes, you have 2 choices CFR-Bilderberg Team "A" or CFR-Bilderberg Team "B".

If you attempt to vote outside of column A or column B or you are obviously a nut job.

To avoid the risk of any voter related mistakes there will be no elections held for the individuals actually controlling the direction of the country.

They will be appointed by Goldman Sachs on an as needed basis.

Thank you for participating and have a happy 4th of July.

Sun, 06/17/2012 - 04:51 | 2533373 inca
inca's picture


By Jon Rappoport

Well, we must vote in the upcoming presidential election, right? How can we abdicate our right? How can we leave the battlefield to the robots? If we don’t vote, we can’t criticize what happens in the next four years.

On the other hand, if we’re standing in a room behind a table that holds two levers, and if we pull lever 1 a bullet is going to come out of the wall and kill us, and if we pull lever 2 a flame is going to shoot out of the wall and burn us down, it becomes a matter of idiosyncratic preference, doesn’t it?

Aren’t we entitled to consider that levers 1 and 2 conspire to produce a false dichotomy?

Or is that act of considering an indication that we’re too intelligent for the society we live in, and therefore we should sign up for “re-education?

No matter how much passion we have for choosing a true leader who is independent of “the bullet and the fire,” suppose there is no lever 3?

Should we exercise our passion by pretending lever 1 or 2 is really the object of our desire?

“You know, at first I thought Candidate A was a dangerous idiot and a puppet of larger sinister forces, but after brainwashing myself into oblivion, I realize he’s quite a patriot and has godlike attributes. How could I have missed that?”

(By the way, it turns out that, since 1960, the three highest-percentage turnouts among the voting-age population, in a presidential election year, were 1960, 1964, and 1968. And those three weren’t anything to write home about: 63.1, 61.9, and 60.8.)

We’re told that political change comes slowly, and working within the two-party system, we have to satisfy ourselves with the slightly better candidate, or the lesser of two evils. This is what responsible adults do. But suppose this system is terminally corrupt, and suppose that is precisely the reason for...

more here:

Sun, 06/17/2012 - 10:47 | 2533767 RiverRoad
RiverRoad's picture

Democracy in action!

Sun, 06/17/2012 - 10:48 | 2533774 tempo
tempo's picture

Merkle is the only vote that counts and she will know here vote. "Simple adding more debt will not solve the crisis" per Merkle. But it will elect Obama.

Sat, 06/16/2012 - 17:24 | 2532680 Earl of Chiswick
Earl of Chiswick's picture

not to forget the second round of France's parliamentary elections also on Sunday

Sat, 06/16/2012 - 17:24 | 2532681 Black Forest
Black Forest's picture

It is completely uninteresting who will win. They, and a lot of other big guys out there, are unable to settle their nominal debt anymore.


Sat, 06/16/2012 - 17:26 | 2532682 valley chick
valley chick's picture

any more details about the bank holiday in Greece?

Sat, 06/16/2012 - 18:15 | 2532727 slewie the pi-rat
slewie the pi-rat's picture

hey, v_c!  i saw stuff here about a certain trading platform not gonna open sunday and then others joined in and saying wait till later when certain markets can't get isolated, swamped, and illiquid

then, the central banks (G-20?) said the global central bankstering system would provide any liquidity and support needed

there have been some stories about heavy cash flows outa greek banks, and some trading platforms won't open on time

maybe others have more

i just opened the local weather:  the hi was forecast @ 92;  the current temp = 102;  but:  it only feels like 100 on the heat index

i think that is b/c it is a dry heat...  

Sat, 06/16/2012 - 18:52 | 2532754 valley chick
valley chick's picture

Slewie!! :)   Saw it posted on the the Investment Watch blog..but don't know how accurate it is. 

Sat, 06/16/2012 - 19:38 | 2532822 slewie the pi-rat
slewie the pi-rat's picture

we also have an unconfirmed rumor than benzelbub has promised both prez0 and mittens that he and timmah can keep the checks in the mail here thru bastilleDay [7/14]

he kids!  great kidder!  we needed that! 

Sun, 06/17/2012 - 11:15 | 2533846 buckethead
buckethead's picture

Central banksters provide liquidity..... AND solvency. Single stop shopping.

Sat, 06/16/2012 - 17:27 | 2532683 JackT
JackT's picture

Runners..take your mark....get ready...set...

Sat, 06/16/2012 - 17:28 | 2532684 orangegeek
orangegeek's picture

Greece is screwed regardless - government to rescue when government is the problem.


Sat, 06/16/2012 - 17:30 | 2532686 Stackers
Stackers's picture


Sat, 06/16/2012 - 17:30 | 2532687 Boilermaker
Boilermaker's picture


It isn't the amount of votes that count.  It's the people that count the votes that count.

This will be more rigged than the S&P 500.

Sat, 06/16/2012 - 18:18 | 2532730 johnnynaps
johnnynaps's picture

I can't handle all that truth! Actually, I can. Just time for another Jameson and ice!

Sat, 06/16/2012 - 18:46 | 2532747 Amish Hacker
Amish Hacker's picture

Hey, go easy on the ice.

Sun, 06/17/2012 - 03:21 | 2533323 jumblies
jumblies's picture

It isn't the people who count the votes, it's the people who tell the people who count the votes what the vote count will be.

This whole sham has become so brazen it's a wonder they haven't just bypassed the whole election thing and simply just told the people what the election result is. That way the people don't have to miss Who Wants to be a Trillionaire, Dancing With the Proles and Greece Has Talent (but Goldman Sachs has more).

Sun, 06/17/2012 - 11:37 | 2533892 Marginal Call
Marginal Call's picture

If their elections were all rigged up like ours the "right" people would have won the first time.

Sat, 06/16/2012 - 17:38 | 2532697 Negro Primero
Negro Primero's picture
Greek legislative election (scheduled 17 June 2012)

Sat, 06/16/2012 - 18:13 | 2532721 LMAO
LMAO's picture

Ahh, good to see that there is a 105.1% chance that both combined .....Never mind, it's either central planning gimmickry or Diebold engineering?!

Sat, 06/16/2012 - 18:25 | 2532699 Griffin
Griffin's picture

June 17th is Icelands Independence day, a great day for elections.

Iceland held its first referendum in 1918 and became a sovereign state again after being under Danish and Norwegian rule.,_1918

That same year Iceland got the longest and coldest spell of frost ever recorded, Katla volcano erupted and the Spanish flu killed a huge number of people.

Eventful year for Iceland. The event that stands the test of time is Icelands independence, everything else is now history.


Iceland finally got free from Danish rule June 17th 1944.

Sat, 06/16/2012 - 22:48 | 2533061 robertocarlos
robertocarlos's picture

What happened to the Danesgold?

Sat, 06/16/2012 - 17:44 | 2532705 Whoa Dammit
Whoa Dammit's picture

I thought that the last poll had Syriza in the lead. Which was why they stopped polling a week before the election. Which was also why all the bankers had their panties in a wad. Citi (source of the above info) must be getting its talking points from the Ministry of Information.

Sat, 06/16/2012 - 17:49 | 2532709 Joebloinvestor
Joebloinvestor's picture

They will not have a government, and will try to drag it out even longer.


Expect major finger pointing at everyone else except Greece.

Sat, 06/16/2012 - 17:51 | 2532716 billwilson
billwilson's picture

Watch the rural areas. Last time PASOK kept a lot of strength in the rural areas, but melted in the cities, with Syriza benefitting. If the wave of chnage has now made it to the countryside Syriza will win. I also expect a lot of the smaller parties to do worse this time as the vote coaleses with the main parties.

Sat, 06/16/2012 - 18:55 | 2532755 Crab Cake
Crab Cake's picture

Ooh ooh so intense. Im on pins and needles. /sarc

As if voting makes one damned bit of difference in these dog and pony shows anymore; if it ever did.

Sat, 06/16/2012 - 18:50 | 2532752 Crab Cake
Crab Cake's picture

Outcome = Whatever the people that have bought and fixed the election want it to be.... just like here in Amerika.

The shadowy hands behind the scenes are fucked anyway though because within a year Greece wont be in the EU, and Egypt will be a revolutionary hotbed.

Sat, 06/16/2012 - 18:57 | 2532756 dir
dir's picture

@Crab Cake -

You are correct. You should come back exactly one year from today and highlight these predictions, because I'm thinking 98% probability of accuracy.

@Valley Chick - 

New econ site is an algorithmic news feed, which monitors Twitter for financial headlines getting retweeted.  That's what I'm plugged into for the moment.



Sat, 06/16/2012 - 18:57 | 2532757 dir
dir's picture

@Crab Cake -

You are correct. You should come back exactly one year from today and highlight these predictions, because I'm thinking 98% probability of accuracy.

@Valley Chick - 

New econ site is an algorithmic news feed, which monitors Twitter for financial headlines getting retweeted.  That's what I'm plugged into for the moment.



Sat, 06/16/2012 - 19:00 | 2532758 valley chick
valley chick's picture

Thanks dir ! :)

Sat, 06/16/2012 - 20:14 | 2532872 Iwanttoknow
Iwanttoknow's picture

I thought it was illegal under greek law to poll in the last two weeks.BBC engaging in illegal stuff?

Sat, 06/16/2012 - 21:44 | 2532966 Duke of Con Dao
Duke of Con Dao's picture

edit out... needs work, sorry


Sat, 06/16/2012 - 23:02 | 2533082 surf0766
surf0766's picture

Communist , socialist, and anarchist . What a choice for the people of Greece. Add in some corrupt bankers and politicians and call it shit soup.

Sat, 06/16/2012 - 23:39 | 2533127 Tom Green Swedish
Tom Green Swedish's picture

SYRIZA is gaining momentum.  From 2004 to now they have went from 3.26 to 16.78 percent. Even if there is no decision now SYRIZA will probably gain momentum.


Although Alexis Tspiras is a total idiot.  He thinks Greece is in a better position than Italy, even with 165 percent debt to GDP and Italy's 120 percent debt to GDP. Nevertheless Greeks people are putting their money in Italian banks.  


If Greece had any kind of Brain at all they would stop the bank runs

Sun, 06/17/2012 - 00:41 | 2533191 Zgangsta
Zgangsta's picture

Would you say that Greece is in a better position than Japan, just because's Japan's Debt to GDP ratio is higher?  There's a lot more to it than that...

Sun, 06/17/2012 - 03:14 | 2533305 Tom Green Swedish
Tom Green Swedish's picture

but also that all private creditors should agree to a restructure of the Greek debt, reducing the debt burden from a forecasted 198% of GDP in 2012 to 121% of GDP by 2020.  Greece took 230 billion dollars, their debt to GDP is much higher than Japan's.

Italy's proejcted 2012 debt maturity in 2012 is 19.3 percent, right on par with Greece.  That means 1/5 of their GDP in debt is due this year, they need to refinance 400 billion at 6 percent.  That is not going to work well.  But they do have a "to big to fail" stick.  They are the second largest economy in Europe, which creates a problem one with no growth. How do you pay any money back if you owe 120 percent of what you make each year and never get a raise. It is impossible.  Italy will only be able to survive a little while longer without taking down the black market.  Just think, how well you think the USA would work if nobody paid any taxes.


So lets analyze your argument a little further Mr. John Q Public Retard.  I would say both Italy and Greece are entirely screwed. Greece has just borrowed 208 billion dollars.  Their GDP is 300 billion.  Italy at this point has not received anything but are in just as bad of shape (maybe about half as bad).  They will deny they need no help but pretty soon Mr. Wolfy is going to be knocking on their door, and Mr World Economy is not going to like one of the largest countries in the world asking for money, when they can't pay it back.  Would you rather have a credit card with 1.5 percent interest and a job, or a credit card with 6 or 23 percent interest and no job? This is the difference between Japan and the PIGS, plus a large trade surplus and stable currency, one which even if they printed would put them in better shape. Plus they don't have major bank runs everyday. If you want you can even answer the question. I would be interested to hear your answer.

Sun, 06/17/2012 - 03:25 | 2533327 Zgangsta
Zgangsta's picture

I was being facetious.  I agree with you.

What I meant to say that you cannot measure the stability of a country by its debt to GDP ratio alone.

Sun, 06/17/2012 - 07:46 | 2533471 toomanyfakecons...
toomanyfakeconservatives's picture

Soap box, ballot box, jury box, ammunition box.

Sun, 06/17/2012 - 03:45 | 2533338 Tom Green Swedish
Tom Green Swedish's picture

If Italy takes a haircut and taxes they will have 30,000 per person wealth.  If the Usa takes a haircut and pays down all the debt 25 Trillion is still left on the table.  Thats 10 times the GDP of Italy.  The USA has 40 percent of the entire worlds wealth. If we get our act together again, we can start growing, but probably not because the rest of the world is in the shit bin and we'll have to bail them out again.  They need our help.  They are stupid and hopeless, and have big problems.

Sat, 06/16/2012 - 23:50 | 2533139 New American Re...
New American Revolution's picture

Heard any word on Egypt?    I understand that at 15:30 EDT on Monday everyone in Cairo and throughout Egypt are going to get together and sing cumbaya... and watch the markets rally.

Then at 16:30, EDT (of course), they'll come out and announce that the Brotherhood candidate stuck a fountain pen in the military candidates eye....

Sun, 06/17/2012 - 00:03 | 2533151 Rattling Bones
Rattling Bones's picture

If a a third election can be called then that will be the kick the can kind of thing that will happen.

Sun, 06/17/2012 - 00:17 | 2533167 SmoothCoolSmoke
SmoothCoolSmoke's picture

Greek soccer win over Russia today could be a factor.  I think it helps New Democracy.  Will have Greeks harkening back to 2004 when they were on top of the heap in Europe after winning the Euro championship.  DO NOT underestimate the power of soccer in these cultures.

Sun, 06/17/2012 - 00:39 | 2533187 Zgangsta
Zgangsta's picture

Why New Democracy?  If the Greeks feel more empowered, wouldn't they support SYRIZA instead?

And I predict that Golden Dawn will get 10% of the vote, as Greek Pride is emboldened further.

Sun, 06/17/2012 - 06:08 | 2533423 YellowBrickSWE
YellowBrickSWE's picture

I also think Golden Dawn will get more than the 7% they got the last time (unless the election is rigged).

Once you have decided to support Golden Dawn you won't change your mind easily.
It is like voters who once voted for Ron Paul all of a sudden start to vote for Obama :S

Sun, 06/17/2012 - 02:40 | 2533292 mt paul
mt paul's picture

ron paul

wins greek election

Sun, 06/17/2012 - 04:45 | 2533370 Inthemix96
Inthemix96's picture

Lets cut to the jist folks, does it fucking matter who wins?  The simple fact of the matter is that whoever gets in, the Greek population is still fucked, sryzia?  Fuck off still fucked. ND?  Fuck off still fucked. PASOK?  Aye, the fuckers who caused the mess?

Listen up my Greek brothers.  Pop down to the parliament and hang the lot of the fucking treasonous bastards pronto.  Then hang your fucking even more corrupt bankers who got away with mass fraud.

Follow this two step easy plan and find release from all that ailes you.  Come on, it might spur the rest of the world into action, I implore you my Greek friends, the answer is easy, and quite possibly a vote catcher for whomever kicks it off.  Think like this and call your new party the "Hang the fuckers" HTF, got a nice ring eh??

Sun, 06/17/2012 - 05:42 | 2533392 marco1324
marco1324's picture

Hello all @Zerohedge

Got a feeling ND will win because they will rig this one and severe social unrest will develop from that and you will see a tough crack down on the population. One area that has stayed free from the cuts is the military.

Sun, 06/17/2012 - 08:36 | 2533519 greenspanator
greenspanator's picture

Elections don't matter. German politicians have everything under control. Their Greek puppets are going to sell the populations and even their mothers to keep what they have. And German banks need repayment. It is just amazing to hear the comments by German politicians demanding undemocratic measures be taken in Greece. Oh my God, nazis never left the power.

And then we have those sons of a bitc* of May '68 thak graduatedly took power and are those who are opressing the following generations (those who are not family, of course).

Sun, 06/17/2012 - 09:22 | 2533585 Grand Supercycle
Grand Supercycle's picture

Rally warning continues...

SPX bullish daily chart strengthened further on Friday & more rally expected.

DOW initial target approx 13,170 & more upside after that.


Sun, 06/17/2012 - 11:04 | 2533815 HastaLaVista
HastaLaVista's picture
Exit-poll leaks from blogs and sites:ND 29,2 SYRIZA 27,9 PASOK 10 DIMAR 6,3 IND GREEKS 5,4 GCP 5,3 GDAWN 5
But again this is around 1-3 pm. This is not a final estimate
Waiting for quite a bullish market rally in Europe tomorrow
Sun, 06/17/2012 - 11:05 | 2533818 I am Jobe
I am Jobe's picture

All bought and paid for


'It's Not the People Who Vote that Count; It's the People Who Count the Votes'- Stalin



Sun, 06/17/2012 - 11:11 | 2533830 HastaLaVista
HastaLaVista's picture

BTW, everyone has completely forgot (never knew) that Stalin told it with some irony about elections in the western countries. But in case with Greece you are completely right.

Sun, 06/17/2012 - 11:12 | 2533834 mm17101978
mm17101978's picture

Bank Guy in Brussels, you are right. Infact, Diebold manufactures some of the ATM machines used by BNL (the insolvent Italian bank owned by BNP Paribas, which is an incident waiting to happen on its own, given its TCE and leverage!). Oddly enough, others (Intesa Sanpaolo, for example) have chosen ATM machines manufactured by NCR....itself an S&P 500 company, if I remember much for buying European-made products! My humble hope would be that the outcome of the Greek elections will give everyone a bit more time to buy gold on the cheap (I'm only hoping to get another 45 days or so of time!).....wishful thinking????

Sun, 06/17/2012 - 11:13 | 2533839 michaelsmith_9
michaelsmith_9's picture

Regardless of the catylist, the markets remain in a down trend.  Whether its Greece or not, there will be a catylist soon.  Elliott Wave analysis allows traders to forecasts these movements, and our charts suggests more downside ahead.

Sun, 06/17/2012 - 12:11 | 2533971 Jake88
Jake88's picture

Elliott wave is not the least bit predictive. There is ALWAYS an alternative count to allow for any movement of the market.

Sun, 06/17/2012 - 11:13 | 2533841 michaelsmith_9
michaelsmith_9's picture

  Is Apple suggesting more downside for the markets? It appears that way.

Sun, 06/17/2012 - 11:17 | 2533847 pcrs
pcrs's picture

I don't think it really makes any difference, smoke and mirrors. All parties are parties of plunder and they all are broke and credit bility

Sun, 06/17/2012 - 11:40 | 2533898 denny69
denny69's picture

Costas Douzinas and Joanna Bourke write: The Financial Times Deutschland last week published an article on its front page headlined “Resist the demagogue“. It was written in Greek. The article advised the Greeks to reject the radical left Syriza party and vote for the rightwing New Democracy today. It is the culmination of an astounding campaign of fear and blackmail against the democratic right of Greeks to elect a government of their choice.

Angela Merkel, the European commission president José Manuel Barroso, and even George Osborne, have ordered the Greeks to vote the right way. This direct intervention into the democratic process of a sovereign state follows a plethora of threats and rumours, secrets and lies, telling people that if they vote for Syriza, the country will be ejected from the euro and untold catastrophes will follow.

Why are the European elites carrying out this unprecedented campaign, which strikes at the heart of the EU and would lead to outrage if the target were the British, the Italians, or the French? The reason is simple. If the Greeks vote a Syriza government into office, the EU and the IMF will have to drastically change the austerity policies that created an economic disaster and a humanitarian crisis.

Sun, 06/17/2012 - 11:44 | 2533908 caimen garou
caimen garou's picture

12:00 edt polls close, 12:01 edt bullshit begins!

Sun, 06/17/2012 - 11:46 | 2533913 Teabunny
Teabunny's picture

YYYAAAAWWWNNN (cough, rigged, cough, bullcrap, cough, cakes and circuses, cough) 


hey, unrelated...heads up to St Louis...High radiation in your area today...keep the kiddies inside! run your air conditioner (hepa filter preferable!)

Sun, 06/17/2012 - 11:55 | 2533929 Teabunny
Teabunny's picture

oh...why isn't the government telling you these things you ask? (heh heh heh) well, its thanks to all the mark 1 reactors here there and everywhere! courtesy of GE! (GE WE BRING EVIL TO LIFE ~ Glenn Beck Show)

Sun, 06/17/2012 - 12:01 | 2533935 Teabunny
Teabunny's picture

for any of Y'all who give a hoot about  what they have done to us, by not responding to fukishima (yes, that crap is still floating didn't just go bye bye the coverage did) check out radchick on facebook (she is like really watching this, and she has a network around the country behind her) (also check out dutchsinse on you tube...citizen reporter...jus sayin...the news you won't get anywhere else....though you should !)

Sun, 06/17/2012 - 11:49 | 2533917 French PCC
French PCC's picture

Georges W.Bush Recommend the electronic vote to the Greek people ! héhé

Sun, 06/17/2012 - 11:53 | 2533921 TraderTimm
TraderTimm's picture

As the years pile on, I become very weary when elections are pending in the USA.

It kills me to see people arguing over which 'side' to be on, who is better than whoever, like some ill-conceived reality show with audience participation. There is no proper 'side'.

It is all a distraction-fest for what is really going on, wholesale bartering and financial transactions. It doesn't matter who is in the presidential hot-seat, at all. The whole thing is biased towards the biggest money-pot, and the maneuvers taken to get a slice of it.

I have a fantasy where in the near-future, people become so disenchanted with the lack of real choice, nobody goes to the polls. Wouldn't that be something? Have an election and nobody comes? Of course, like most fantasies, I don't see it happening - but damn, I can't help but smile thinking about it.

Its okay, I'm sure other things will provide a measure of independence, even if voting in our current corrupt system doesn't provide a proper outlet for it.

Viva ZH, the Internet and encryption.

Sun, 06/17/2012 - 12:04 | 2533939 carbonmutant
carbonmutant's picture

Megatv poll:

ND 27.5-30.5%

Syriza 27 - 30%

Pasok 10-12%

IndGreeks 6-7.5%

Sun, 06/17/2012 - 12:09 | 2533959 Teabunny
Teabunny's picture

can you say JUNTA? 

Sun, 06/17/2012 - 12:10 | 2533968 Teabunny
Teabunny's picture

hey, isn't Egypt leaning the same way? HMMMM>>>military industrial complex? are the big boys set for a testosterone fight? (Men...what cha think gals...castrations in order? make them sane!)

Sun, 06/17/2012 - 12:12 | 2533976 Teabunny
Teabunny's picture

PS..Happy Fathers day fellas! ;)

Sun, 06/17/2012 - 12:08 | 2533957 Jake88
Jake88's picture

The wheels have come off the Euro. The Greeks don't have the balls to do the right thing and leave.  They want to stay and suck the teat of Germany as long as they can. Spain Portugal Italy et al will do the same thing. Suck the teat and refuse austerity.  Why not. They will blackmail the EU. The banksters seem to have brainwashed everyone into believing that the Euro is a sacred cow that must not fail. Either Germany will be the first to leave or one government will be put in place by force. It stands to reason that the original intent of the EU all along was to implement one government.

Sun, 06/17/2012 - 12:10 | 2533966 mjk0259
mjk0259's picture

At least the Greeks have a choice of candidates with widely differing views. In US, it's one wall st whore vs another almost always.

Sun, 06/17/2012 - 12:18 | 2533995 Atomizer
Atomizer's picture



It has all come down to whether the EU core can support the periphery states. The elections don’t really matter. Extending the soap opera series for another year is what really matters to the quasi monopolizing families. Once you understand the list of families and their businesses, this is the last subsidy they will receive before too big to save takes effect. As sales revenues spiral in the red, so does the government financed monopoly. True capitalism will be reborn. 

10 Oct 2011 Bloomberg Mark Hale is CIO of Prytania Investment Advisors. He is also former financial analyst and economist at the Bank of England. Background: Osborne says Eurozone package must be ready no later than Cannes Summit. He won't allow the deficit-cutting program to falter. 

Axial Division of Labour 

Happy Father’s Day to all!

Sun, 06/17/2012 - 18:51 | 2534992 marco1324
marco1324's picture

Would be interesting to see a breakdown of the votes based on age. Maybe most of the older people voted with their pockets with the shadow of a 70% devaluation of their meager savings hovering over them.

You can just see the eurocrats in Brussels slyly looking back at the Greeks and with a smirk saying, now pay your debts, get back to picking olives and shut the fuck up, you're rocking the gravy train and its spilling over our Armani pants.

1.5 million people unemployed, 23%, what a waste of a fine resource, the story will be about the young ones, the ones with with no hope, no jobs, no future. They will be on the streets within weeks burning BMWs.

On a positive note, maybe go long on BMW.DE



Sun, 06/17/2012 - 20:58 | 2535196 covert
covert's picture

1000 to 1 says the elections are rigged.



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