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Greek Referendum Is On

Tyler Durden's picture




 

Contrary to rumors that the entire referendum will be called off, and be replaced with elections instead, it appears that it won't be, and instead, per the BBC, will progress based on G-Pap's fatal assumption that the public will actually vote for the bailout, the loss of sovereignty, and perpetual austerity. Via Bloomberg:

  • Papandreou Adviser Sees Greek Public Backing Bailout Plan: BBC

and it's official:

  • GREEK GOVERNMENT SPOKESMAN TOLKAS SAYS REFERENDUM TO GO AHEAD

Good luck.

 

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Tue, 11/01/2011 - 15:44 | 1833777 PaperBear
PaperBear's picture

Until it's off.

Tue, 11/01/2011 - 15:50 | 1833829 slaughterer
slaughterer's picture


G-pap going to get banged up bad by the pro-Euro posse in Cannes tommorrow: Germany's Merkel, France's Sarkozy, ECB's Draghi, IMF's Largarde will meet tomorrow in Cannes at 1800 CET

- Greek PM will join at 2100 CET

Tue, 11/01/2011 - 15:56 | 1833895 WestVillageIdiot
WestVillageIdiot's picture

And right now stocks are shitting the bed, getting ready for tomorrow's stick save that will squeeze shorts for the 187th time since March 2009.

Tue, 11/01/2011 - 16:06 | 1833962 SilverIsKing
SilverIsKing's picture

We need to compare notes.  I count only 186.

Oh wait, I missed this one.  You're right...187.

Tue, 11/01/2011 - 16:18 | 1834042 irishlink
irishlink's picture

Your math is getting as bad as the Germans and the Irish except theirs are always positive corrections !

Tue, 11/01/2011 - 16:24 | 1834059 hambone
hambone's picture

FUCKING A - had to share this dipshit...explains why gold is no good and stock market ready for mega bull...oyveeee!!!

http://finance.yahoo.com/blogs/breakout/bull-market-taking-pause-don-hays-123632436.html

 

Tue, 11/01/2011 - 16:09 | 1833984 Roland99
Roland99's picture

http://blogs.marketwatch.com/thetell/2011/11/01/the-magic-number-for-the...

 

Not looking good for the S&P for November. Not good at all.

 

Tue, 11/01/2011 - 15:57 | 1833901 espirit
espirit's picture

Of course the Greek Referendum Is On /Off /On. 

MF Global was going to privately finance the Geek debt.

Back to buy the rumor, sell the news again.

Tue, 11/01/2011 - 16:01 | 1833931 Michael
Michael's picture

Now we just have to convince the Greek people to vote the same way as Iceland.

Screw the bankster bitches.

 

Tue, 11/01/2011 - 16:07 | 1833967 TruthInSunshine
TruthInSunshine's picture

 

 

Michael :

Now we just have to convince the Greek people to vote the same way as Iceland.

Screw the bankster bitches.

 

Was Iceland a Target for Economic Hit Men?

Tue, 11/01/2011 - 16:18 | 1834038 Popo
Popo's picture

As if there aren't a room full of Euro spooks working hard to rig the vote now. 

Come on folks.  This is a rigged game.  

 

Yes the Greek people want to shove this up the ass of the Germans.  

 

No, no one will ever know about it.

 

 

Tue, 11/01/2011 - 16:29 | 1834092 walküre
walküre's picture

Iceland isn't a nation of crooks sucking the government teet.

Good luck to Greeks when their currency is worthless and they're trying to collect on their socialist entitlements!

At the end of the day, their currency won't even allow them to pay for the gas to drive to work.

Socialist former Yugoslavia was able to deal with this issue because as part of the former USSR, they were supplied by the Russians with fuel no matter what the currency was worth.

Greece doesn't have that "luxury". If they vote against the package, they're on their own. Period.

Do you really understand what that means for a former industrial nation gone bankrupt with liabilities up the ying yang and a worthless currency?

Tue, 11/01/2011 - 16:36 | 1834133 max2205
max2205's picture

Hanging CHADS will confuse the issue no doubt

Tue, 11/01/2011 - 16:05 | 1833957 Belarus
Belarus's picture

G-pap holds all the cards. He essentially holds the nuclear option in his hand. It's why Merkozy will be begging for mecry tomorrow. Remember, everyone has a price. 

Tue, 11/01/2011 - 17:47 | 1834493 Cole Younger
Cole Younger's picture

Yep...Maybe G-pap is holding out for 100% haircut. Get rid of our debt or the EU and euro dies...politically a smart manuever.

Tue, 11/01/2011 - 15:51 | 1833844 Financial_Guard...
Financial_Guardian_Angel's picture

A fresh greenie vote for you.

THEY WILL NEVER ALLOW A VOTE. TPTB will never let the fate of the free world rest in the hands of some over-entitled Greeks. Too much at stake...

Should I sell my shares of Grecian Formula???

Tue, 11/01/2011 - 16:11 | 1833990 Ivanovich
Ivanovich's picture

I've gone long diners.

Tue, 11/01/2011 - 16:38 | 1834140 upWising
upWising's picture

Democratic Votes by Greek people with paper ballots are so OLD SCHOOL.  I have some better ideas:

--> DIEBOLD voting machines.!! They are very modern, easy to program, easier to count!  Just pick the result you want and JUST LIKE MAGIC...DONE!

--> How about asking the U.S. Supreme Court to vote?  They are very Wise, we know that.  (That's why they are there!!!)  Instead of 9 million crazy Greeks voting, just leave it up to 9 old people in Black Robes.  Much faster, cleaner and slicker!!!  Besides all 9 of them will fit in a clown car!

--> Before we do all of this, we should set up an ETF so we can bet on the outcome, or a SIV so we can leverage the results to out favour.

LET'S BE MODERN ABOUT THIS!

 

Tue, 11/01/2011 - 15:53 | 1833861 Pool Shark
Pool Shark's picture

 

 

It'll be easy for them to win the referendum - don't forget:

It's not who votes that counts; it's who counts the votes...

Tue, 11/01/2011 - 15:58 | 1833907 eurusdog
eurusdog's picture

Then who burns down the building the votes were counted in!

Tue, 11/01/2011 - 15:58 | 1833911 WestVillageIdiot
WestVillageIdiot's picture

Just ask Kirov.   He can tell you about rigged elections.  Oh, wait, you can't. Stalin had him killed for getting too many votes.  Here we are 77 years later and how little the world has changed. 

Tue, 11/01/2011 - 16:06 | 1833925 ArkansasAngie
ArkansasAngie's picture

Boy ... I can't wait to see the referendum ads come out for this.

I guess that means buy stock in Greek ad agencies

Tue, 11/01/2011 - 16:10 | 1833985 agrotera
agrotera's picture

...sad but true Pool Shark...but since the referendum is on, I am going to hope for a true count!!!

Tue, 11/01/2011 - 16:23 | 1834056 Quantitative_Ap...
Quantitative_Appeasing's picture

Komrade Stalin is that you??

 

Have been thinking the same thing ever since referendum was announced. Question is -  if you fake the results with greece already at the boiling point would it matter?

 

 

Tue, 11/01/2011 - 15:55 | 1833887 Nascent_Variable
Nascent_Variable's picture

If G-Pap sees the referendum polling at 30% and tries to cancel, Greece is done.  The backlash will be ungodly.

There was never a solution to the Greek problem, that's why Europe never "got it."

Tue, 11/01/2011 - 15:56 | 1833890 Ruffcut
Ruffcut's picture

If I didn't like to pretend, I would officially announce that this seems to be a staging ground of numerous dog turds.

Perhaps a circle jerk with whole global neighborhood.

A bad TV season of american idol.

Or maybe a defective board game of CLue. (to be remamed clueless)

Tue, 11/01/2011 - 16:00 | 1833922 Rhone_Ranger
Rhone_Ranger's picture

No referendum/election will be held until the results are known!

Tue, 11/01/2011 - 16:01 | 1833932 Clueless Economist
Clueless Economist's picture

HAH!  and who counts the ballots?  I'm guessing G-Pap and his socialist scum party.

Tue, 11/01/2011 - 17:00 | 1833936 LawsofPhysics
LawsofPhysics's picture

Sweet, a simple on/off switch for the corresponding market melt down/up.

Tue, 11/01/2011 - 16:04 | 1833944 Akrunner907
Akrunner907's picture

Awww, my friend we are only at the beginning of the race.  The camals are all getting lined up and the bets are being laid.  We will soon see the shakeout.

Tue, 11/01/2011 - 16:05 | 1833946 LiquidityandLunacy
LiquidityandLunacy's picture

Furthermore, besides my doublepost, Why is CNBC running this story so hard into the close?

 

Perhaps they have had enough (the eurofriends) with Greece?

Tue, 11/01/2011 - 16:04 | 1833949 LiquidityandLunacy
LiquidityandLunacy's picture

So lets just say that it isn't going to be called off. All that will happen is there will be unrest in Greece, they will exit the Euro and leaders will print money to save Italy. The question becomes, how much and when.

Tue, 11/01/2011 - 16:04 | 1833952 LiquidityandLunacy
LiquidityandLunacy's picture

So lets just say that it isn't going to be called off. All that will happen is there will be unrest in Greece, they will exit the Euro and leaders will print money to save Italy. The question becomes, how much and when.

Tue, 11/01/2011 - 16:23 | 1834057 He_Who Carried ...
He_Who Carried The Sun's picture

On that very day of that ominous Referendum Greece needed to be isolated economically in order to shield the rest of the union from a possible NO. If the Greek say NO Greece must leave, but not because its the economically most viabble solution but because it would be nigh impossible to explain to anybody that a NO TO REFORMS AND AUSTERITY should merit further aid.     Checkmate!

I think this government won't survive the next confidence vote.

Tue, 11/01/2011 - 15:45 | 1833782 Irish66
Irish66's picture

what is the date

Tue, 11/01/2011 - 15:46 | 1833789 PaperBear
PaperBear's picture

Is the middle of next week too late ?

Tue, 11/01/2011 - 15:46 | 1833790 vote_libertaria...
vote_libertarian_party's picture

What?  You can't have market crushing headlines the last 30 minutes of trading.  Only happy rally inducing vapor headlines are allowed.

Tue, 11/01/2011 - 15:49 | 1833825 Ancona
Ancona's picture

....ha said as he watched the red on the screen deepen...

Tue, 11/01/2011 - 15:51 | 1833851 WestVillageIdiot
WestVillageIdiot's picture

It looks like the market IS melting right back down.  Good for the market.

I was watching QQQ this afternoon on Yahoo.  At exactly 1:30 the thing went apeshit.  I knew something was funny.  I figured I would wait a while and then check out ZH.  I read a few articles, surfed around a little and then went back over to ZH.  Sure as shit, there was a rumor about no Greek referendum that caused the sudden rise, like a 90 year old taking half a bottle of Viagra.

It is really a sick system.  The fact that we even have to debate whether Corzine will go to prison is ridiculous.  All of the shitheads that bought into Obama's bullshit should be looking at this and realize what a fraud he is.  Don't get me wrong.  The Republicans suck, too, but Obama is the most blatant of the hypocrites so he deserves special mention. 

Tue, 11/01/2011 - 16:14 | 1834016 SilverBaron
SilverBaron's picture

If I gave you a few billion and the exact timing on when these announcements would be made, could you make us rich?

Tue, 11/01/2011 - 15:53 | 1833870 HelluvaEngineer
HelluvaEngineer's picture

G-Pap is the real honey badger.  He doesn't give a shit.

Tue, 11/01/2011 - 15:56 | 1833896 homersimpson
homersimpson's picture

As a recovering FAZ owner, it's nice to know that those happy vapors will not ruin my day today.

Tue, 11/01/2011 - 15:46 | 1833792 slaughterer
slaughterer's picture

Tomorrow S&P sub-1200 if this is true.  

Tue, 11/01/2011 - 15:54 | 1833883 WestVillageIdiot
WestVillageIdiot's picture

Until the next rumor of bailout by ________________ (fill in the blank).  It could be the IMF, The Fed, The ECB, China, Little Sisters of the Poor and Meek. 

I don't remember this many rumors going around in junior high.  At least in junior high you could get a handjob from some impressionable young girl.  You might even get to feel her up.  This market is far less pleasing. 

Tue, 11/01/2011 - 15:46 | 1833795 oogs66
oogs66's picture

i think g-pap is going to have a change of heart at last minute, negotiate some back up finding from china, and tell the people to vote against...and get re-elected

 

Tue, 11/01/2011 - 15:51 | 1833831 TruthInSunshine
TruthInSunshine's picture

Wax on, wax off.

Send in the Jackals.

Harvest time cometh.

Insiders LOVE harvest time.

It was rumored to be AM Rothschild's favorite time of the year ("Oh the most wonderful time of the year").

I recommend reading Paul Krugman's latest books:

How Old Man Rothchild Turned My Generation Into His Personal Bitch & We Learned To Love It

-or-

Digging Deeper Into Debt To Free Ourselves From Debt Serfdom; A Keynesian Love Story

Tue, 11/01/2011 - 15:52 | 1833862 afdestruction
afdestruction's picture

I just bought those for my Kindle.

Tue, 11/01/2011 - 16:00 | 1833926 WestVillageIdiot
WestVillageIdiot's picture

That's strange.  I bought them for kindling. 

Tue, 11/01/2011 - 15:46 | 1833796 Mike2756
Mike2756's picture

Don't worry about that, just buy amzn, you'll be fine.

Tue, 11/01/2011 - 15:46 | 1833797 Tommy5454
Tommy5454's picture

You've got to figure an insider like GPap, to go this way all alone, knows the potential ramifications: both personally (assisination) and politically (loss of his PASOK majority and position). There is something more going on here. Do sociopaths all of a sudden get a conscience? Saul to Paul? No, more likely does not want to be remembered as a traitor and wants to spread the blame like that Kew Gardens murder we all learn in psychology 101.

Tue, 11/01/2011 - 15:49 | 1833817 Tommy5454
Tommy5454's picture

Oh and as soon as you printed this, markets tanked. I love ZH.

Tue, 11/01/2011 - 15:59 | 1833869 SaMsKy
SaMsKy's picture

 still would the greek people reeeaally want it?  if so, everything was for nothing.

 

 

Tue, 11/01/2011 - 16:09 | 1833976 Tommy5454
Tommy5454's picture

Sheeple are and will always be sheeple, that is where we come in. We know the Greek people are against this specific bailout, our job is to teach them that giving in to the EU in any way will continue this into the future. Same stuff different year. We need to teach them that independent auditors found over 90% of Iceland's debt was from the bank and derivatives, not from them "living beyond their means." Now, 3 years later, their debt is back to investment grade. The greedy hedge fund manager have a short memory when they can make an even quicker buck.

In that vein, ZH / Tylers, can we get a Greek translator in here (Greeks do not speak as much English as a second language as their Northern European "benevolent" bailouters)? We need to get your crucial information and any research ZHers do about who really owes the "Greek" debt onto every Greek language board and make it go viral to voters on the Pelepponesis (sp?).

Tue, 11/01/2011 - 16:30 | 1834093 xcehn
xcehn's picture

Great idea for ZH to have links translating their articles about the referendum into Greek.

Tue, 11/01/2011 - 15:48 | 1833803 Dr. Engali
Dr. Engali's picture

They keep trying to rally this pig. Looks like Robo is out of luck today.

Tue, 11/01/2011 - 15:52 | 1833859 fourchan
fourchan's picture

roboplunge team is doing some heavy lifting today.

 

the markets have ten minutes to comply.

Tue, 11/01/2011 - 16:06 | 1833965 WestVillageIdiot
WestVillageIdiot's picture

I am sure Robo zigged and zagged in and out of all the momo stocks today like an Olympic slalom skier.  He is now partying with a plate full of blow and a lap full of hookers on Sunset Boulevard. 

Tue, 11/01/2011 - 16:18 | 1833991 TruthInSunshine
TruthInSunshine's picture

+1

RoboMomoRearViewMirrorPaperTrader&Fader has timed the millions of tops and bottoms perfectly, whether intrasecond, intraminute,intrahour, intraday, intramonth, intrayear, intradecade or intracentury, and in fact, is a singular, perfect track record endowed, HFT-AlgoBot-CarbonLifeForm hybrid variant.

Tue, 11/01/2011 - 16:50 | 1834204 fuu
fuu's picture

<golf clap>

Tue, 11/01/2011 - 15:48 | 1833807 carbonmutant
carbonmutant's picture
A confidence vote in the Greek government will be held on Friday
Tue, 11/01/2011 - 15:48 | 1833808 Jim in MN
Jim in MN's picture

Greece to markets:

 

TEOTWAWKI

ARGLEBARGLE

DERP

 

Place your bets accordingly.

Tue, 11/01/2011 - 15:48 | 1833810 Silver FoxNJ
Silver FoxNJ's picture

Very strategic by G-Pap, now we will here rumors that they will pass the referendum and all is normal!! The CAT , I mean Italian Bonds, is out the BAG!! Game on!!

Tue, 11/01/2011 - 15:49 | 1833815 hambone
hambone's picture

Wait - Wait - rumor of a nursing home womens investing group steping to bail out the euro zone now...markets should react shortly

Tue, 11/01/2011 - 16:08 | 1833971 WestVillageIdiot
WestVillageIdiot's picture

That seems fitting since stocks are drooping like an old lady's tits right now. 

Tue, 11/01/2011 - 15:51 | 1833824 GeneMarchbanks
GeneMarchbanks's picture

Reset the Motherfucker. I beg you Greek people.

Tue, 11/01/2011 - 15:50 | 1833827 drivenZ
drivenZ's picture

and....... there goes equities 

Tue, 11/01/2011 - 15:50 | 1833828 carbonmutant
carbonmutant's picture
In another surprise move, Panos Beglitis, Greek defence minister, sacked the armed forces chiefs of staff, after an unannounced meeting earlier on Tuesday of the inner cabinet, which takes responsibility for defence decisions. No reason was given, writes the FT’s Kerin Hope in Athens.
Tue, 11/01/2011 - 15:50 | 1833830 Racer
Racer's picture

Wow, they got their gags off and managed to get that out before the market closes!

 

Tue, 11/01/2011 - 15:51 | 1833839 MarcusLCrassus
MarcusLCrassus's picture

Does the G-Pap actually think they will pass this?   Or is he just using this as a convenient 'out' so he can say "I couldn't just pass it without a vote, and they said no, so what do you want me to do?"

 

I have a really hard time thinking that he actually thinks it will pass.  Unless the fix is in.   

Tue, 11/01/2011 - 16:01 | 1833934 surf0766
surf0766's picture

Everyone know it will not pass. It just sets the stage for  him to say we must default and leave the Euro. It is just a cya game now. He now puts the defaut on the sholders of the people . If they complain he can say they voted against it.

 

Tue, 11/01/2011 - 16:08 | 1833975 MarcusLCrassus
MarcusLCrassus's picture

That's kinid of what I thought.  Good. 

Tue, 11/01/2011 - 16:27 | 1834081 MS7
MS7's picture

I don't know that it won't pass. It will likely be phrased as -- Do you want to stay in the euro or go back to the drachma? They could use a lot of scare tactics about the drachma, and people will vote to maintain the status quo.

Tue, 11/01/2011 - 15:53 | 1833846 Sequitur
Sequitur's picture

Get ready, here comes the banker bullshit bible:

Quantitative easing: printing

Accommodative policy: printing

Open market operations: printing

Stimulus: printing

Measures: printing

Tue, 11/01/2011 - 16:16 | 1833915 hambone
hambone's picture

one important clarification....

Golden shower: not printing and different than BB helicopter w/ cash...please don't get confused but bankers love this one

 

Tue, 11/01/2011 - 16:09 | 1833981 Ruffcut
Ruffcut's picture

The banker bible? That's it? 1 quarter page? I thought stealing and fraud might be embolded somewhere.

Bitchezz don't even respect their own bible. That's crazy....

Tue, 11/01/2011 - 16:16 | 1834029 common_sense
common_sense's picture

It's an idea of Central Banks, dont be afraid, if they have decided to tell Papandreu go for a referendum it must be good for economy, so very soon, with the same news, stocks will arrive to the sky...because merkozy is going to meeting again and again and again , and bernanke is going to promise "all necessary" to keep SP above 1100... don't worry, the printer machine is working fine, just one or two more bad news and lets go UP UP UP again....

MODERN ECONOMY IS FINE, ONLY CENTRAL BANKS PRINTING IS  ENOUGH TO KEEP QUIET EVERYBODY, WITH CHINA AND JAPAN AND BRICS READY TO HELP JUST IN CASE. PEOPLE UNEPLOYED...WELL, THIS IS NOT TO BAD IF THERE IS PEOPLE RICH SPENDING MONEY. THIS IS CALLED THE NEW MODERN COMUNISM IS REPLACING CAPITALIST SYSTEM, WITH THE SAME PRINCIPLE, MONEY IS GOD AND CENTRAL BANKS ARE ANGELS.

AMEN.

Tue, 11/01/2011 - 15:53 | 1833848 fuu
fuu's picture

HAHAHAHAHAHAH!

Looking With Amazement, wrong again!

Tue, 11/01/2011 - 15:52 | 1833850 Joe Sixpack
Joe Sixpack's picture

Democratic Jiu-jitsu, or advanced Greek negotiating techniques. If they make it until the referendum, the deal is guaranteed to get even better than it is now.

Tue, 11/01/2011 - 15:52 | 1833857 tallen
tallen's picture

Let the Re-Tankage begin. Bye bye S&P 1200.

 

Also, is Corzine still not getting pounded in the ass yet? JAIL NOW PLEASE.

Tue, 11/01/2011 - 15:52 | 1833860 slaughterer
slaughterer's picture

Everything is OK, Benny is manning the helicopter and taking it across the Atlantic tonight.  

Tue, 11/01/2011 - 15:52 | 1833867 Timmay
Timmay's picture

Deibold Machines to Greece, STAT.

Tue, 11/01/2011 - 15:53 | 1833871 the not so migh...
the not so mighty maximiza's picture

I think it will be very difficult to vote in Greece, you will have to dodge the tanks and the snipers to get to the voting booth, it will pass.

 

 

Tue, 11/01/2011 - 15:53 | 1833873 FinHits
FinHits's picture

I am enjoying this: the black hole vortex of Greece is self-destructing, and will stop sucking attention, resources and money.

Greece will vote against the deal and will get (kicked) out of Euro. That will open the gates for Northern block to escape Euro as well. When that movement becames apparent, I trust the whole Euro will break up to 17 national currencies at 1:1 exchange rates.

Sanity is worth a few % of losses.

Tue, 11/01/2011 - 15:53 | 1833875 scrappykoala
scrappykoala's picture

Dont be surprised out how stupid the average voter is. Look who is president of the United States. One of the countries in Europe voted to stay in the Union. Look at who is president of France or Britain. There is no limit to the stupidity of the average voter.

Tue, 11/01/2011 - 15:53 | 1833876 unionbroker
unionbroker's picture

the person to create the last rumour of the day wins look for these stories to come out closer and closer to the bell

Tue, 11/01/2011 - 15:57 | 1833904 slaughterer
slaughterer's picture

New rumor: S&P downgrade of France after the close.

Tue, 11/01/2011 - 15:54 | 1833882 marcusfenix
marcusfenix's picture

time to bring out the deer?

Tue, 11/01/2011 - 15:55 | 1833885 IrritableBowels
IrritableBowels's picture

GAME ON

Tue, 11/01/2011 - 15:56 | 1833891 Pool Shark
Pool Shark's picture

 

 

And by the way:

That sound you're hearing is the market augering in like a P-51 at the Reno Air Races...

[closing at LOD]

Tue, 11/01/2011 - 15:56 | 1833894 Josh Randall
Josh Randall's picture

Vote wisely Greek Pols, or prepare to face Riot Dog for the last time

Tue, 11/01/2011 - 15:56 | 1833900 catacl1sm
catacl1sm's picture

Let's see who can come up with the best 'story' of how/why this went down. I believe that G-Pap announced the referendum after being unable to get a bailout from Uncle Benny. Benny calls G-Pap and was like "WTF!?". G-Pap 'calls-off' the referendum to show Benny how much power he has right now. After a few hours of "negotiating" and G-Pap not getting everything he wants it's referendum back on time. Tomorrow, Benny will be begging G-Pap to back off the referendum and will suck his dick.

Tue, 11/01/2011 - 15:59 | 1833916 Timmay
Timmay's picture

G-Pap can only hope this is the "outcome"....

Tue, 11/01/2011 - 15:57 | 1833903 soopy
soopy's picture

Put up Donkey Kong!

Tue, 11/01/2011 - 15:58 | 1833909 YesWeKahn
YesWeKahn's picture

I am sure that it will pass,    with german gun pointing at the head.

Tue, 11/01/2011 - 16:00 | 1833913 xcehn
xcehn's picture

You have to smell more than a few rats here. This will likely be a rigged referendum if in fact, it goes forward. But on the very slim chance that it is honestly on, the Greeks will not be voting in favor of the banksters and the Euro experiment.

Tue, 11/01/2011 - 16:29 | 1834090 MS7
MS7's picture

In polls, Greeks say they do not want austerity. They also say they want to stay in the euro. If given the referendum, they would have to decide which one is going to give.

Tue, 11/01/2011 - 15:59 | 1833917 youngandhealthy
youngandhealthy's picture

Well...next headline will be Merkozy permit Greece to leave the Euro.

That would absolutely be the smartest move of the Berlin-Paris axis of Euro.

Tue, 11/01/2011 - 15:59 | 1833918 Roland99
Roland99's picture

time for the Cage Match!

 

Tue, 11/01/2011 - 15:59 | 1833920 Dr. Engali
Dr. Engali's picture

must   not   finish   300  pts.   down.

Tue, 11/01/2011 - 16:01 | 1833930 slaughterer
slaughterer's picture

must continue to go down below 300 pts.  (so the Ben-effect is even greater tomorrow). 

Tue, 11/01/2011 - 16:04 | 1833947 Dr. Engali
Dr. Engali's picture

Mission accomplished. The down draft tomorrow will give him plenty of cover. Don't worry he will print like a fother mucker.

Tue, 11/01/2011 - 16:05 | 1833940 Pool Shark
Pool Shark's picture

 

 

Still; 572 DOW point loss in 2 days is a pretty good selloff...

 

Tue, 11/01/2011 - 16:00 | 1833923 Xtreeeme
Xtreeeme's picture

So market is going down on news that there is going to be referendum. What does it say about the politicians "representing" the people when "elections" are good news and referendums are bad news???

Tue, 11/01/2011 - 16:00 | 1833924 catacl1sm
catacl1sm's picture

French invasion of Greece up next?

Tue, 11/01/2011 - 16:01 | 1833928 earleflorida
earleflorida's picture

man

can you imagine the money these guys are making from the cboe on timing their rumors

unbelievable says Barnum Bailey

W.C. Fields - never give a sucker a second chance

whoa nellie!

Tue, 11/01/2011 - 16:06 | 1833963 wang (not verified)
wang's picture

it might be as simple as that, the guy is a slime

Tue, 11/01/2011 - 16:16 | 1834022 TruthInSunshine
TruthInSunshine's picture

Let's not be hasty, and wait for the results of the Diebold voting machines, after the referendum takes place, to be tallied.

 

 

/SARC

Tue, 11/01/2011 - 16:18 | 1834039 youngandhealthy
youngandhealthy's picture

The guy is just not a slime he is a true socialist ass hole...the people to vote....give me a break

Tue, 11/01/2011 - 16:01 | 1833929 lolmao500
lolmao500's picture

They should do it quick... screw the G20.

Tue, 11/01/2011 - 16:04 | 1833941 Iriestx
Iriestx's picture

Predator drone strike on G-Pap in 3.... 2..... 1.....

 

 

They can always blame it on the muslim threat du jour.

Tue, 11/01/2011 - 16:23 | 1834062 irishlink
irishlink's picture

start something in beleagured Cyprus and Turkey will fall into line.

Tue, 11/01/2011 - 16:04 | 1833943 El Viejo
El Viejo's picture

Is Chaff a Greek word?

Tue, 11/01/2011 - 16:04 | 1833948 xcehn
xcehn's picture

Full damage-control in progress.  Corrupt Eurocrats frantically scrambling to prevent the referendum and ensuing Euro-meltdown.

Tue, 11/01/2011 - 16:04 | 1833950 Rat King
Rat King's picture

Lates, my b*tch

Tue, 11/01/2011 - 16:06 | 1833951 Pancho Villa
Pancho Villa's picture

For GPap to sit quietly while all the European leaders negotiate their 'solution', and then to spring this on them with no warning after everything has seemingly been agreed to is just plain malicious. GPap is clearly jerking the Europeans around, probably hoping for more concessions.

Greece is just not suited to be part of the EZ. The best thing that could happen for Greece (and for Germany) would be for the Greeks to vote for default.

Tue, 11/01/2011 - 16:13 | 1834011 WestVillageIdiot
WestVillageIdiot's picture

It is reminiscent of Czeckoslovakie 1938.  How did that work out? 

Tue, 11/01/2011 - 16:58 | 1834244 Pancho Villa
Pancho Villa's picture

To me it seems opposite. If I were a German, after all the trouble the Greeks have caused, I would want them out of the EZ.

Tue, 11/01/2011 - 17:15 | 1834331 PY-129-20
PY-129-20's picture

Honestly, I don't care about whether Greece is part of the EZ or not. I want my country to be out of the EZ. I was against this whole Euro project from the beginning. A liberal (not neoliberal) vision of Europe where nations cooperate - yes.

As a democrat (not the party) I applaud G-Pap's decision. If only German leaders would have asked their population more than ten years ago if they want to be part of this. Because Germans never wanted the Euro. The DM was a fine, not perfect currency. And I want the DM back. That will be a great day for all Germans.

Tue, 11/01/2011 - 16:04 | 1833953 Mediocritas
Mediocritas's picture

Unfortunately for Greek people they're damned if they do, damned if they don't. If they vote to leave then there will be a run on banks as people desperately try to hoard euros in anticipation of a return to a rapidly devaluing drachma. This will create an Argentina style situation and lockdown of the economy.

Then, once the drachma comes back, Greek people will get their austerity measures anyway via a sharp decrease in purchasing power felt most immediately in the supermarket. Correct me if I'm wrong, but Greece is a net food importer.

If they leave the euro then they're guaranteed to suffer in the short term but will ultimately recover faster. If they stay on the euro, they will suffer less in the short term, but might ultimately never recover. If people understand these terms then they'll likely go for the immediate option and choose to stay on the euro.

Personally, I think they should leave. They were never qualified to join the euro anyway and lied (with help from GS) in order to do so. Punishing inflation, government overthrow, political instability, etc might be the fire Greece needs to actually create a solid foundation for a better economy in the future.....or it might mark the start of a spiral into an even more economically incompetent military dictatorship. One way to find out. Default and leave.

Of course, if G-Pap figures out that leaving might trigger a cascade of CDS that takes down the global financial sector, then he's got some pretty powerful blackmail material to buy his way out of the mess he's in. Perhaps he should start selling "protection" to the world.

Tue, 11/01/2011 - 16:12 | 1833999 youngandhealthy
youngandhealthy's picture

If Greece default (or permited to leave) Argentinas missery 10yrs ago will be like a summer breeze compared to the gail force 9 Greece will suffer.

 Argentina defaulted but had the "luck" of a neighbor who turned ultra-strong. Greece have just a-fucked all its friendly neighbors.

Good luck Athens...you need all your gods now.

Tue, 11/01/2011 - 16:35 | 1834121 FinalCollapse
FinalCollapse's picture

They just destroyed the CDS market. We are having fun without protection.

Tue, 11/01/2011 - 16:39 | 1834148 walküre
walküre's picture

Agree with your sentiment but your premise is wrong.

The Greeks had 10 FUCKING FANTASTIC YEARS as a member of the Eurozone and the benefits of holding a "hard" currency. They cooked the books and as it turns out, they're a nation of crooks when it comes to accounting and taxation.

So, you tell me how this nation will ever RECOVER when they return to the Drachma? They can kiss all their entitlements GOOD BYE. They can forget about getting any handouts from the government as their government will be preoccupied securing any fuel to run the operation!

Greece and Greeks would be fast approaching the lifestyle of the common man and woman in Zimbabwe.

There is absolutely nothing of value in Greece! No resources, no manufacturing, no service sector that could compete globally!

They were very fortunate to have had the last 10 years and they know it too. That's why prudent Greeks (the best of the crooks) have taken their money out of the country and deposited in Switzerland, Luxemburg and the UK.

After a "no" vote, Greece will be going the way of Albania.

Tue, 11/01/2011 - 17:04 | 1834275 Pancho Villa
Pancho Villa's picture

Greece is a much better tourist destination than Albania. So many historic sites, and the Parthenon at night is absolutely beautiful.

And they have fishing, and tending their olive groves and goat herds.

I think they would get by.

Tue, 11/01/2011 - 16:05 | 1833955 docmac324
docmac324's picture

Sure they'll vote, with AK-47's.

Tue, 11/01/2011 - 16:08 | 1833973 blindman
blindman's picture

send in diebold, count, recount, call it a draw.
then what?

Tue, 11/01/2011 - 16:09 | 1833982 Cone of Uncertainty
Cone of Uncertainty's picture

Oh fuck, I just puked a little in my mouth.

And now I'm off to the crapper to pull a Dumb and Dumber.

Tue, 11/01/2011 - 16:09 | 1833983 pmcgoohan
pmcgoohan's picture

erm...whats with the post market ramp up? Did someone forget to switch off the bot on the way out?

Tue, 11/01/2011 - 16:13 | 1834010 NDXTrader
NDXTrader's picture

This is not being reported by the "main stream" press. They get it out good rumors in under 30 seconds...bad rumors not so much

Tue, 11/01/2011 - 17:03 | 1834267 Blano
Blano's picture

Gotta get going on the overnight gap up.

Tue, 11/01/2011 - 16:12 | 1833988 Schmuck Raker
Schmuck Raker's picture

This is like having a young child that just got big enough to reach a light switch:

On, Off, On, Off, On, Off, On, Off...

Annoying at best.

Tue, 11/01/2011 - 16:11 | 1833994 devo
devo's picture

Papandreou is a hero.

Tue, 11/01/2011 - 16:18 | 1834043 Iriestx
Iriestx's picture

They're about to make him a martyr.

 

 

Tue, 11/01/2011 - 16:12 | 1833996 NDXTrader
NDXTrader's picture

You might all find this shocking, but still no reports on MarketWatch or CNBC of this counter-counter-rumor. Just headlines on Marketwatch of the counter-rumor that some socialist politician doesn't like the referendum.

Tue, 11/01/2011 - 16:12 | 1833997 allenaki
allenaki's picture

Do you have the link please from the greek press?
Where did he say that?

Tue, 11/01/2011 - 16:12 | 1834005 marcusfenix
marcusfenix's picture

and here we go-

Will the Greek referendum snatch economic defeat from the jaws of victory?

can't have people deciding their own fate now, can we?

what a sad twisted little world we live in...

Tue, 11/01/2011 - 16:13 | 1834007 eurusdog
eurusdog's picture

Quoted form another post on zerohedge "10yr Ink Bonds will be sold to finance the printing of the ballots"

Tue, 11/01/2011 - 16:13 | 1834009 NEOSERF
NEOSERF's picture

Don't forget that Greece has it's own version of the 1% and the 99% too.  The 1% are in the Greek legislature or have them by the scrote anyway.  Not voting for it is political suicide...they would rather try to spin it to the plebs as good for Greece and live another day.

Tue, 11/01/2011 - 16:15 | 1834018 bill1102inf
bill1102inf's picture

Strike bitchez!

Tue, 11/01/2011 - 16:16 | 1834027 Racer
Racer's picture

oh look out of hours futures soar...... what a surprise

Tue, 11/01/2011 - 16:16 | 1834028 lolmao500
lolmao500's picture

Later tomorrow : Greek PM plane crashed due to unknown reasons on his way to Cannes, no survivors.

Tue, 11/01/2011 - 16:17 | 1834034 vote_libertaria...
vote_libertarian_party's picture

Uhhh...Is G-Pap flying to the G-20 meeting?  I would not fly with him anytime soon.

Tue, 11/01/2011 - 16:20 | 1834035 Gene8696
Gene8696's picture

Perfect timing.. Was just about to cover my S&P shorts, which finally dropped back to my price after last week's run-up. Guess I'll hold them another 24hrs and hope for more bad news from the Pantheon tonight...

Tue, 11/01/2011 - 16:18 | 1834041 youngman
youngman's picture

So far the vote is  One= Yes One = No

I´ll do an exit poll

Tue, 11/01/2011 - 16:24 | 1834065 lolmao500
lolmao500's picture

Most Greeks (about 60%+) are against the ``bailout``...

We could say today that GREECE IS THE MOST POWERFUL COUNTRY IN THE WORLD right now... they hold EVERYONE by the balls.

Tue, 11/01/2011 - 16:33 | 1834113 Eally Ucked
Eally Ucked's picture

You right but at the same time 70% of them are for staying in the union, so we will see how they will formulate the referendum questions.

Tue, 11/01/2011 - 16:24 | 1834066 carbonmutant
carbonmutant's picture

Can Papandreou rig the vote?

Tue, 11/01/2011 - 16:29 | 1834089 Mark123
Mark123's picture

I would imagine that the Greeks will get some punishment before the vote, and lots of scary warnings from their leaders.

 

How about gas, food shortages.  Pensions scaled back (temporarily of course pending the vote)....a 5000% tax on liquor....there is no end to how they can be turned into cowering sheep.

Tue, 11/01/2011 - 16:26 | 1834070 Mark123
Mark123's picture

Reading the comments on ZH is such great entertainment!  There are some very sharp, witty people posting here.

Tue, 11/01/2011 - 16:27 | 1834082 Mutatto
Mutatto's picture

Referendum =

 

"Do you really wish to leave the EU monetary union and the endless supply of free Eurodollars right when we have them where we want them?

Really?"

___YES

___NO

"Do really you wish to have your pensions devalued by 66% and have fuel and all other import prices increased by 300%?

Really?"

___YES

___NO

 

Not so sure this referendum will be a slam dunk.  Hopefully the Greeks can see past a two year period of pain and see the benifits of a full default.

 

 

 

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