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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 | Link to Comment PaperBear
PaperBear's picture

Until it's off.

Tue, 11/01/2011 - 15:50 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment max2205
max2205's picture

Hanging CHADS will confuse the issue no doubt

Tue, 11/01/2011 - 16:05 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Ivanovich
Ivanovich's picture

I've gone long diners.

Tue, 11/01/2011 - 16:38 | Link to Comment 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 | Link to Comment 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 | Link to Comment eurusdog
eurusdog's picture

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

Tue, 11/01/2011 - 15:58 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Rhone_Ranger
Rhone_Ranger's picture

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

Tue, 11/01/2011 - 16:01 | Link to Comment 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 | Link to Comment LawsofPhysics
LawsofPhysics's picture

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

Tue, 11/01/2011 - 16:04 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Irish66
Irish66's picture

what is the date

Tue, 11/01/2011 - 15:46 | Link to Comment PaperBear
PaperBear's picture

Is the middle of next week too late ?

Tue, 11/01/2011 - 15:46 | Link to Comment 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 | Link to Comment Ancona
Ancona's picture

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

Tue, 11/01/2011 - 15:51 | Link to Comment 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 | Link to Comment 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 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

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

Tue, 11/01/2011 - 15:56 | Link to Comment 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 | Link to Comment slaughterer
slaughterer's picture

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

Tue, 11/01/2011 - 15:54 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment afdestruction
afdestruction's picture

I just bought those for my Kindle.

Tue, 11/01/2011 - 16:00 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

That's strange.  I bought them for kindling. 

Tue, 11/01/2011 - 15:46 | Link to Comment Mike2756
Mike2756's picture

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

Tue, 11/01/2011 - 15:46 | Link to Comment 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 | Link to Comment Tommy5454
Tommy5454's picture

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

Tue, 11/01/2011 - 15:59 | Link to Comment SaMsKy
SaMsKy's picture

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

 

 

Tue, 11/01/2011 - 16:09 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment fuu
fuu's picture

<golf clap>

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

Greece to markets:

 

TEOTWAWKI

ARGLEBARGLE

DERP

 

Place your bets accordingly.

Tue, 11/01/2011 - 15:48 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

Reset the Motherfucker. I beg you Greek people.

Tue, 11/01/2011 - 15:50 | Link to Comment drivenZ
drivenZ's picture

and....... there goes equities 

Tue, 11/01/2011 - 15:50 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment MarcusLCrassus
MarcusLCrassus's picture

That's kinid of what I thought.  Good. 

Tue, 11/01/2011 - 16:27 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment fuu
fuu's picture

HAHAHAHAHAHAH!

Looking With Amazement, wrong again!

Tue, 11/01/2011 - 15:52 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Timmay
Timmay's picture

Deibold Machines to Greece, STAT.

Tue, 11/01/2011 - 15:53 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment slaughterer
slaughterer's picture

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

Tue, 11/01/2011 - 15:54 | Link to Comment marcusfenix
marcusfenix's picture

time to bring out the deer?

Tue, 11/01/2011 - 15:55 | Link to Comment IrritableBowels
IrritableBowels's picture

GAME ON

Tue, 11/01/2011 - 15:56 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Timmay
Timmay's picture

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

Tue, 11/01/2011 - 15:57 | Link to Comment soopy
soopy's picture

Put up Donkey Kong!

Tue, 11/01/2011 - 15:58 | Link to Comment YesWeKahn
YesWeKahn's picture

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

Tue, 11/01/2011 - 16:00 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Roland99
Roland99's picture

time for the Cage Match!

 

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

must   not   finish   300  pts.   down.

Tue, 11/01/2011 - 16:01 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment catacl1sm
catacl1sm's picture

French invasion of Greece up next?

Tue, 11/01/2011 - 16:01 | Link to Comment 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 | Link to Comment wang (not verified)
Tue, 11/01/2011 - 16:16 | Link to Comment 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 | Link to Comment 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 | Link to Comment lolmao500
lolmao500's picture

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

Tue, 11/01/2011 - 16:04 | Link to Comment 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 | Link to Comment irishlink
irishlink's picture

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

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

Is Chaff a Greek word?

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

Lates, my b*tch

Tue, 11/01/2011 - 16:06 | Link to Comment 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 | Link to Comment WestVillageIdiot
WestVillageIdiot's picture

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

Tue, 11/01/2011 - 16:58 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment FinalCollapse
FinalCollapse's picture

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

Tue, 11/01/2011 - 16:39 | Link to Comment 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 | Link to Comment 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 | Link to Comment docmac324
docmac324's picture

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

Tue, 11/01/2011 - 16:08 | Link to Comment blindman
blindman's picture

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

Tue, 11/01/2011 - 16:09 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Blano
Blano's picture

Gotta get going on the overnight gap up.

Tue, 11/01/2011 - 16:12 | Link to Comment 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 | Link to Comment devo
devo's picture

Papandreou is a hero.

Tue, 11/01/2011 - 16:18 | Link to Comment Iriestx
Iriestx's picture

They're about to make him a martyr.

 

 

Tue, 11/01/2011 - 16:12 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment bill1102inf
bill1102inf's picture

Strike bitchez!

Tue, 11/01/2011 - 16:16 | Link to Comment Racer
Racer's picture

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

Tue, 11/01/2011 - 16:16 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment carbonmutant
carbonmutant's picture

Can Papandreou rig the vote?

Tue, 11/01/2011 - 16:29 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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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