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Greek Finance Minister Resigns Just Days After Appointment; Cyprus Officially Requests Bailout
This has to be a record:
- GREEK FINANCE MINISTER RAPANOS RESIGNS; PRIME MINISTER ACCEPTS
This is the same guy who was appointed last week, and who fainted after seeking the official Greek numbers. In fact we are not sure he ever got an official appointment. And elsewhere:
- CYPRUS REQUESTS EU AID
- CYPRUS SEEKS EXTERNAL FINANCIAL ASSISTANCE FROM EURO AREA: China just said NEIN
Prepare the bath salt firehose.
Repanos: we hardly knew thee. Courtesy of William Banzai, this is what happened when Rapanos...
...saw the inside of the Greek Finance Ministry:
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Someone just spent the weekend looking at the books.
Exit stage right.
And he finally saw the basement at the Finance Ministry for himself. It looked better than the books.
Saw? The Greeks are getting their eyes burnt looking at these books like they were staring at Madusa.
wasn't this in an original Star Trek episode?
Yes, the episode is called "The Trouble with Tribles".
Debt seems to replicate like tribbles do. This episode brought to us by the ECB has no James T Kirk, Spock or McCoy.
It does have the annoying characters. A red shirt, the guy that is addicted to holosuites and wesley Crusher. They sit around all episode attempting to will the tribbles to cease reproducing. Episode ends when the ship they are on is overrun with furry annoyances and the hull breaches are they all die horribly from the vacuum of space.
I think the FinMin saw there was nothing to scrape off for himself, nothing left to extort, no Greek isle to claim ownership of, no babes to be had by talking about his cushy government post, so he said, "Aw, screw it. I'll go wait in line for free vegetables with everyone else. I don't need to have this responsibility if there is no extra graft for me."
a rat leaving titanic...
You couldn't even make this stuff up.. No really, it is beyond fucked up.
He left the Titanic. Probably to a vacation/retirement home in Cyprus...should be fun sailing and great retirement plan.
Don't forget that most of the Tribbles died in the show and what few remained were "beamed away" because they were found to be toxic to humanity.
The Star Trek episode was "Is There In Truth No Beauty?"
The Greek prime minister also did not like what he saw (hence his detached retina) and I suspect he will be the next to abdicate.
Good riddance to the finance minister as he was just another lackey of the banking mafia although I wish him a good recovery.
Greece has cooked her goose. She now has two hundred thousand people less than she had a decade ago and her population has aged. The oldies at the last election voted to keep the sick bastards who destroyed the nation for over 30 years becuase they feared for their pensions more than they feared for their children's future.
What's the most stunning is that it sounds as if finally, a Greek politician actually understood numbers. That kinda paradoxal for a socialist in any country.
Politicians of any stripe or nation know this much about numbers:
“If you torture the data long enough, they’ll admit to anything!”
But eventually the tales they tell become so divorced from reality that the "torches and pitchforks" moment arrives. Are we there yet?
But on the brighter side, his 5 days of work entitle him to a full government pension under Greek law ....
Right-e-oh! Probably $250,000 per year and health benes. He better hope he was sworn in or else maybe can't collect.
On the prime minister front, he won't be able to fly if he had a vitrectomy and long acting gas injected into his eye. I know, I had the same procedure in early May and can still see the gas and cannot fly nor go to altitude. Had to cancel Tahoe, Yosemite, Washington DC, San Diego and Austin within past 4 weeks. But maybe he can take speed trains and use those Greek shipping lines to get to meetings about Europe.
So . . . Greece has no big guns able to "do the work".
Maybe this is the strategy. Just rotate in as many citizens as you can into the government, because they are guaranteed pensions under EU law too.
I assumed that was the strategy all along. Theft, robbery and make our old mothers weep in poverty while hyperinflating anything of value.
Did they post-date or pre-date the resignation..its important if he is to receive his FULL benefits, including hospital stay and nurses, wet-nurses, long-term wet nurses, home-care, long-term home care, and feedings. Where is WB7 ? we need a better picture of this situation.
no loss there. samaras is a certifiable moron. really, in the spectacular company of the greek parliament, which is already pretty much stacked with clowns wall to wall, samaras stands out as below average. basically anybody who has sat in parliament in the past 25 years needs to be sent directly to prison, no exceptions.
Thank God the U.S. is nothing like Greece in this respect.
I just clicked my Danger-O-Meter from 8 to 9.
Danger Will Robinson! Take some $$$ out of the banks and buy gold. Dow -176 I just heard.
Ugh.
Agree 100%. Just made a larger than normal purchase of PSLV and CEF....going into the week its going to be heck. Cyprus and Spain both making official bailout requests. Where does this end ?
This just went from Greek tragedy to a Greek JOKE.....
Because ZH must examine all possibilities . . .
If I were in hospital from fainting and tests indicated something very serious, I would probably resign too so that the the country could have a Fin Min fully capable in such a difficult time.
So this finance minister walks into a government and asks for a pension....Same as in town!!! <rimshot>
ok needs a little work.
"Heavens to murgatroyd!"
I hope to look like that when my Silver and Gold stash is finally (fairly) valued as more than "just" a commodity.
That is some seriously funny shit. Thanks for the laugh, WB. I'll be chuckling all day.
+1285 - still laughing!
Guaranteed fucking click magnet. $$$$$$$. A must for every website.
Too funny! Looks like Barney Fife on acid.
+10 minutes and still laughing.
Umm...
Isn't that cat exiting stage left?
;)
His other left......aka his right. :>)
Is there another direction that you would expect Socialists to move?
Nope.
My kids are in theater. They have to learn all this stage stuff.
But will he draw a finance ministers pension?
I wonder how large his golden parachute is.
He probably saw the fine print that said he had to clean up that room in the basement.
pods
And pay out of pocket for paper and ink toner
Finally got to the fine print about the gold transfers.
Bullish. He already fixed Greece
I believe it's more of a neutering.
I almost can't believe it.
A greek finally shows some FUCKING BALLS and quits.
Now he can show COURAGE and tell how bad it really is, that is if he can take a break from packing that trailer and getting the hell out of Dodge.
He probably watched by mistake a movie about the French revolution, guillotines and stuff...
He knew he was going to get killed
Yup.
There won't be another qualified "Greek FinMin" for at least 20 years. Anyone who takes the job now won't know the score, is just filling the seat, and will keep a chopper idling on the roof.
I'm sure he just decided that he wanted to spend more time with his family ...
A quite understandable reaction when faced with an upcoming zombie apocalypse ...
Basically, he opened the vault at the ministry of finance and instead of seeing glimmering bars of gold, he saw these neatly stacked and relatively clean pile of Spiderman towels ...
...Grabbed 'em and ran.
Tangible, bitchez!
I bet he stayed just long enough to set up that Swiss account, wire a bundle of euros to the new account, make sure the transaction cleared, and then resigned.
LOL!
"Problem? What problem?"
What - Me Worry?
http://dangitbill.files.wordpress.com/2010/03/what-me-worry.jpg
Thanks, love Alfred.
this is just a greek way to start negotiations by scaring shit out of your opponents (the troika)
It's beginning to be more pertinent to ask: what can possibly happen in the next few weeks to prevent a collapse?
doom loop
PM accepted cause he couldn't care less - he's next.
Just the same way Orszag, Summers, Roemer and Goolsbee did once they realized the truth here in America. The only reason Geithner has stayed on so long is because he was the head of the NY FED and is one of them.
I believe Orszag knew he was lying.
Europe is a farce.
Global Fiat Finance is a farce.
Fixed.
"China just said nein"
Tyler, you f**kin kill me, you just f**kin kill me ! Are you the real Jon Stewart ?
Calling someone Jon Stewart is an insult IMO. Jon is there to keep the left 18-32 demographic entertained/docile. His writers point out all of the hilarity of the right, while barely touching the left. He is status quo.
The man you know as "Jon Stewart" was born Jon Stuart Leibowitz. His brother is COO of the NYSE. Sounds like a pretty damn connected family.
I watch his show sometimes, just so I can see why the people I meet my age in bars think they know it all in regards to politics.
Hey, I remember S&P 1250--let's go check it out. For that 'market retro' vibe...
Besides, if the one indicator that matters besides unemployment is the gas price, then Europe needs to stay critical to goose the USD and keep downward pressure on the commodities complex.
Eye on the prize, peeps.
Why would stocks fall? Why not the DXY? Doesn't economic policy dictate to keep asset prices high to stave off depression? Or maybe Obma wants to throw this next election, and he doesn't care if the ecoonomy tanks.
He tried, right? But it was the political process that tied up his best wishes, right? This is why we need a New World Government system, right? Because we can't get anything done with the system we have, and we the people could not do better, because we are a bunch of dumb slaves. Right?
Yes, yes, yes, and yes.
Or so I gather.
Asset owners are not the voters they have in mind.
No but the CEOs are, and the board members are. The name of the game is corporations > governments. When the governments of the world fail due to their ineptness, the corporations will take over. Rise of the Machines, if you will.
"Rise of the Machines, if you will."
I'm fond of reminding people that corporations are not immoral, they're amoral. Yes, yes that is scarier.
- Why would stocks fall?
Stock prices are based on the tangible value of the company as tinged by PE ratio. PE ratio is in effect, the measurement of hope that people feel in the global economy - it describes how rosy the color of your lenses are. If PE ratio is low, it means things are not so rosy. If its high, it means things are going gangbusters. Its a subjective number. Typically below 10 means things suck; 13'ish things are 'normal' and over 15 things are 'smokin'. The current PE ration is around 18. This implies that things are going 'smokin'. A look at the unemployment numbers in the US and Europe as well as the various debt issues everyone is going through does not say 'smokin', it says things are on the low end of 'normal' potentially heading into 'suck'. This implies that PE ratio synchs up with reality that stocks are going to take a massive hit.
http://seekingalpha.com/article/317930-p-e-ratios-in-recessions
- Why not the DXY?
The great unwinding of the Euro will eventually trigger a fire sale in the periphery. If you feel Germany will be a buyer than a seller, the DXY will be a bit volatile, but not trashed.
- Doesn't economic policy dictate to keep asset prices high to stave off depression?
Economic policy is tied to and is an extention of the power of the state. Read your Clausewitz.
- Or maybe Obma wants to throw this next election, and he doesn't care if the ecoonomy tanks.
Obama is a paid servant and employee of the people that own the country. Like all employees he does what he is told. Unfortunately there is some confusion of late in the minds of certain non-cynics as to the definition of who the owners are.
- He tried, right? But it was the political process that tied up his best wishes, right?
His wishes? LOL
- This is why we need a New World Government system, right? Because we can't get anything done with the system we have, and we the people could not do better, because we are a bunch of dumb slaves. Right?
Already been built. All we are seeing is a friendly disagreement between certain departments over who gets a bigger slice of the budget ...
"Stock prices are based on the tangible value of the company as tinged by PE ratio."
ROFL. Holy fuck this guy.
I'm laughing very hard. I don't know how long it will take for me to recover...
Greece has a Finance Minister? ;-)
//////////////////
Now I'm thinking about his duties as "Finance Minister" with no national finances really to speak of.
Its coming to me now...shuffling around the Parthenon, with a placard around his neck, Will Prostrate Myself Before You For A Buck.
Very dignified.
No different than a "Treasury Secretary"
Donkey...Kong
No math courses with imaginary numbers, nor exponential series of () Therefore I am not qualified
To quote Tony Montana: "This is bad. This is sooo f**king bad."
Has Herman Von Rumpoy commented yet?
he will...just soon as he returns from his blind hair stylist.
LOL!
Maybe Nik Wallenda will take the job, if he was bored by the Niagara thing.
Don't knock Nik...he fucking did it.
This time of year the water along the shores of Greece are just starting to warm up. The thermocline is at about 15 feet so why don't the Troika people just go to the beach and enjoy Greece? Take a drive down to Sounion and look out over the wine blue seas. Why worry? This is Greece, it's been here forever and will be here when the Troika are gone to hades.
What color was his parachute?
"This is the same guy who was appointed last week, and who fainted after seeking the official Greek numbers." I guess he couldn't stomach the real numbers... and the PM can't bear to look at them in the eye =)
/es is down -20, i'll just sell my short and go long as soon as i see the deer picture.
Obviously, Rapanos failed to meet the narcissistic/psychopathic/sadistic requirements for the position.
Next!
In other news, Silver and Gold just got a woody.
he thought V-man was kidding when he said he wouldn't join a goobermint unless syrizzza/opposition didn't get paid untill after his check cleared...
...he gets a full pension, we must assume...
...human rights, you know...
They probably told the Finance minister that he would have to sleep with Merkel for the next loan installment.
this time next year, we will be millioners!
by Derek Trotter
maybe even billioners......
Spain and Cyprus begging for bailouts. Which of course Germany (and ultimately the USA) must fund. Cyprus deficits are huge!!!!!!!!!!!!!!!!!!!!!111
http://confoundedinterest.wordpress.com/2012/06/25/the-new-siegfried-line-merkel-dismisses-eurobonds-and-eurofdic-while-spain-and-cyprus-seek-aid/
Cyprus rocks! Fuck all y'all bailout poseurs! Malakos motherfuckers!
As mentioned by others. This greek finance minister saw Tyler's picture of the tax collectors office. I anticipate this picture will rival the "Deer" picture use here on Zerohedge.
Remember folks, we are 100% garenteed to get a new treasury secretary in the USA in 2013 (comprable to this greek position). And I doubt there are many clinical retards like timmay, or facists like Hank "Al Haig" Paulson left for the role thanks to alternative media such as Zerohedge.
Who says there will be a 2013...smarty pants ?
Remember in order to have 'interest' you need time. So if interest rates go to the moon in EZ or USA...then the only option is to 'cancel' time....got Time ?
Where are the Time Lords ? If Time is cancelled then no interest....zero time=zero interest....no hands ! no time !
I guess your only hope is that somehow Romney can use quantum physics to explain why his 14% "carried interest" personal tax status is reconcilable with a "somewhere between 20-25%" rate for the "other" IRS tax slaves he called out in the republican debates.
Maybe these other people are the aliens we can tax, instead of going to war with them as krugman reccomends?
some mornings you feel like this old VW bus being battered
by car after car ... How much more can Greece take...
http://www.youtube.com/watch?v=KcosvnoQPPc
foolhardy for Greece to allow being given an old VW hippie bus... it was only going to end badly
for them...
ROFLMAO!!!! Now, if only Obama would resign, we might be getting closer.
Stockton CA ... soon to file bankruptcy? http://www.washingtonpost.com/national/stockton-faces-mediation-deadline...
I heard Meredith Whitney was going to be the Grand Marshal in Stockton's 4th of July Parade this year.. I would love to see her in the back of a car waving to all the squatters as the parade makes its way past the empty, gang slanged store fronts of one of Wall St's biggest abortions.
And the Euro pops 30 pips. Hmmmmmmmmmmmmmm.
No doubt due to insider trading on information available to outsiders in 15 minutes.
You couldn't make this crap up.
Trouble is, somebody does.................
We need a +6 rating for articles such as this!
TD + WB7 + (where's TLK to cap it off?) = TOO funny!
Sorry that I'm a little late to the party boys and girls...some of us have to work for a living!!! ;-)
OK, in the meantime, try this one:
How deep of a hole have we dug?
Their only reply was a shrug,
It can’t be that bad,
Oipho*, I’ve been had
Wish I’d never looked under that rug.
* Ancient Greek: Fuck, or Fuck Off
here's an extremely wounded singing of New York New York by
actress Carey Mulligan (soon to be Daisy Buchanan in the The Great Gatsby)
http://www.youtube.com/watch?v=sRGlyc2-Chk (from movie Shame)
what does it have to do with Spain... not much really...
Ten billion € golden parachute?
Rumor has it that Rapanos did not want to be the financial minister, when he realized that Stournaras and Giannitsis wouldn't also be ministers in the new cabinet.
Historical note: Stournaras (technocrat) and Giannitsis (former minister) were close associates of Simitis, former primer minister of Greece . Simitis was the prime minister that went in bed with GS to "hide" debt thought financial innovation (the now infamous Greek swaps program).
They need to quit trying to "fix" an unfixable circumstance. The attempts to "fix" it have just made it worse and prolong the pain for the many.
They need a real hard nosed guy to come in and make the difficult decisions and let the market repair itself. I love the story about Schacht in hyperinflation Germany. He just issued the Rentenmark and holed up in a small office not taking calls or otherwise. The circumstance stabilized, Schacht did his job, but the damage was done.
All this fixin ends up fixin nothin. And we ultimately end up with Hitler-esque type leaders. Will man ever learn?
sschu
FOOK ME?????????????????????????
NO, FOOK YOU
looks like al sharpton