It's (Re-Re-)Official: L-Pap Is PM

Tyler Durden's picture

To everyone who was hoping the latest Greek PM would be a double letter, triple word score game killer in Scrabble, our apologies. In the end the ECB's puppet ended up in control, just as initially expected. Kneejerek reaction in the EURUSD higher which will be promptly faded and all that jazz. Fact is nobody cares about the ECB/Fed protectorate known as Greece any longer.

From WSJ:

Lucas Papademos, a former European Central Bank vice president, has been named Greece's new prime minister, senior officials from Greece's main political parties said Thursday.


"It's finally over, we have a new prime minister," a senior socialist party official said. "Mr. Papademos will be sworn in today." An official from the conservative opposition party said an "agreement has been reached on Mr. Papademos to become prime minister and he has accepted."


"Senior members from both parties will make up Mr. Papademos's cabinet," he added.

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CPL's picture

Fed-Pap in da his-ouse!

bania's picture

Meet the new Pap. Same as the old Pap.

Taterboy's picture

Next week - Zorba the Greek

jdelano's picture

Damn.  All bets now transferred to Burlesqueoni.  

KlausK's picture

Yeah. Whatever.

fourchan's picture

they are still tits up broke.

CPL's picture

Well when you run out of rumours you recycle the stuff that seemed to provide traction before.

paarsons's picture


Another central banker is in charge of the world.

Happy days are here again.

centerline's picture

Yup.  Keep 'em coming.  A few more obvious plants and there won't be much to guess at anymore about who is in charge and where we are going.  People starting to wake up a little.  Just enough of them to make some waves.  At some point, critical mass is formed and the pitchforks come out.  These sort of moves show how desperate they are because they risk too much sheeple stirring.  Iron fist going to come down soon instead.  Or someone is going to stoke the fires of war.


GeneMarchbanks's picture

Rumor has it he's a banker.... so?

lapedochild's picture

I stopped caring a long time ago... Italy is where it's at... and Spain is trying to hide but can't for long...

Arius's picture

Tyler  - again on the money, after all the rollercaster your analysis, insticts proved right again ... and again ... and again ... i certainly feel sorry for those taking the other side of your bet - I really do understand their frustration and their wish that for once in awhile you be proven wrong ... but if they can keep betting who knows ....

i suppose if i put it in Dalio's terms you know how the machine works ... might be easier to make predictions after that .... i suppose the rule of thumb is look for the usual suspects GS, Fed etc...

Raymond Reason's picture

It's like predicting the behavior of a spoiled child.  It's ....predictable. 

Stylianos Kyriacou's picture

Xmm, is this good or bad for the European economy ?

Arius's picture

well ... anybody cares??? i suppose is all about power and control! will take care of the economy once we arrive to the mountain top ...

CPL's picture

Who? Fed-Pap?


He's a federal reserve puppet, seriously his background is being a professional fart catcher for Central bank interests for a loooong time.


Good to know they purchased and placed yet another puppet in the chair.

Stylianos Kyriacou's picture

Spot on CPL. But if referentum was bad (according to the market) then i guess he, beeing exactly the opposite, is good. Or not? 

Where, referentum == democracy and fed-pap == pupper . 

lolmao500's picture

Total sellout... look at his resume :

Governor of the Bank of Greece from 1994 to 2002
Vice President of the European Central Bank from 2002 to 2010
He has served as Senior Economist at the Federal Reserve Bank of Boston in 1980
During his time as Governor of the national bank, Papademos was involved in Greece's transition from the drachma to the euro as its national currency.
He has been a member of the Trilateral Commission since 1998.
Manthong's picture

You can't be a sellout if you are a born tool.

Coke and Hookers's picture

Look at the guy they are pushing as Italy's PM, Mario Monti:


He completed graduate studies at Yale University, where he studied under James Tobin, the Nobel prize-winning economist (Arch-Keynesian).[1]

He is also European Chairman of the Trilateral Commission, a neoliberal think tank founded in 1973 by David Rockefeller[2] and member of the Bilderberg Group [3].

In 2010, upon charge of president Barroso, Monti published a Report on the future of the Single Market, proposing further measure towards the completion of the EU single market[4]

On 15 September 2010 Monti supported the new initiative Spinelli Group, which was founded to reinvigorate the strive for federalisation of the European Union (EU). Other prominent supporters are: Jacques Delors, Daniel Cohn-Bendit, Guy Verhofstadt, Andrew Duff, Elmar Brok.


See the trend? Bloodless coups with the appropriate puppets installed. Better deal than Gaddafi got though. At least G-Pap and Berlusconi weren't shot when they were toppled.

longonSpam's picture

+1 send Kudlow to become governor of Corsica

Troy Ounce's picture




Ancona's picture

Hahahahaha to infinity and beyond bitches!!

This is fucking better than live theater! I love watching these asshats try and lie, cheat and obfuscate their way around the plainly visible truth. They are fucking doomed and they know it. The public knows it and the rest of the world knows it. the only dumbasses that do not want see the truth are those in power.

Fucking brilliant theater this!

CPL's picture

They don't need our money obviously anymore. 

Much like a game of monopoly, when the last player has everything it usually means the game is over and more than likely the other kids hate that kid's guts for a little while.

Zgangsta's picture

This name works much better with the "Rock Me Amadeus" parody.

Alex Kintner's picture

Greece is sooo Pre 11-11-11. Why are we still talking about it? It's Italy's 15 minutes now.

ziggy59's picture
France extends short-selling ban on bank shares



...because in the New Twilght Zone, which used to be the Eurozone, UP is the old down..

AngryGerman's picture

The only worthwhile part of the above statement is "It's finally over [...]"!!

yogibear's picture

Oust the current leaders and install the bankers. We know who the real masters are.

Raymond Reason's picture

Yes, let's stop the charade.  Stop the bs.  We all know who holds the power now.  And that fact alone is a big chink in their formerly impenetrable armor.

So, ironically this is actually progress for us. 

Hansel's picture

I don't understand how any new PM can be 'intsalled.'  Is voting dead in Greece?  Whenever a PM quits then the government gets to pick whoever they want?  Makes no sense to me.

lizzy36's picture

No this is awesome.

The are going to "aim" to implement bailout 3.0 (or was is 4.0?) Of course given that they are 0 for 6 on meeting their Troika targets, one can safetly assume that they will fail in their aim.

So can they extend this into q1 2012 or is Greece it fall apart in next 6 weeks?

longonSpam's picture

What's the take on this New Demo Party, I know Old Pap was Soc Party and there's a significant Communist Party but wtf is New Pap? Aside from a puppet obviously..

Turtlelord's picture

First of all, regardless of stance towwards new-pap, bear in mind that both parties fought long and hard to nominate as ineffectual a PM as possible while it was actually the street that went berserk upon learning of this.

New Dem is a traditional center-right party which has been taken over by fundamentalist nationalists that bear much more resemblance to the commies than a mainstream stalwart party. Most of their hardocre base is for ditching the euro, the eu and going it alone with help from the russians/chinese.

The parties' biggest fear is that this gov't actually does anything good and shows them two, for the kleptocracy they are. But the tide's changing (unknown whether for good or bad). These days both "main" parties (Pasok, ND) can't muster more than 37% between them when just 10 years ago they controlled 80+%

it's this irrelevance that's had them shitting their pants.

MS7's picture

Interesting perspective. But I don't think this guy will be ineffectual. He ushered Greece into the euro, but of course he knew nothing, saw nothing, heard nothing about the fake Greek statistics. Merkel and the rest wanted him. So they must have faith he will carry out his orders. The people will hate him and enough members of the two parties will protest his measures so their supporters can make excuses for them.

I think he was associated with the "socialist" party. But socialist is a fake title. They are far from socialists or leftists. They and the other "main" party are for sale.

As for nationalists, I do not believe there a lot of real nationalists in the New Dem Party. They just say things to gain votes. What is wrong with nationalism anyway? In the US they require their Presidents to be nationalists. A weaker country like Greece has even more need to have a nationalist in charge to protect the country's interests from bankers and others.

longonSpam's picture

Tux for the replies for a newbie, it's obvious that everything is fake & up for sale but I still don't get that nobody on any side has tried to assassinate anybody else yet, not that I'm advocating it but you'd think by this point somebody would start the fireworks. You'd think TPTB had figured out a way to take it witcha..

Withdrawn Sanction's picture

"But socialist is a fake title."

Except when it comes to socializing losses...

Bottom line, would it really have mattered if they changed captains on the Titanic.  From the moment Europe hit the ISDA iceberg (when they changed the rules mid-stream), the HMS EU was going down.

Eliminating ways to hedge risk have ensured a catastrophe because now the only way to transfer risk to send it to the ECB or other super-sovereign, institutions that are singularly unsuited to the task.

By the stern or by the bow makes little difference to the passengers; it's just now there are fewer lifeboats.  If banker tries to get in your lifeboat, push him out.

lolmao500's picture

The scum running the EU are like jet pilots trying to save their plane while it's just impossible to do... they stay until the plane crashes and they die doing so.

Good crashing!

JPM Hater001's picture

I think a better example would be:
"As fighter jet crashes new pilot brought in as original pilot smart enough to get out and new one dumb enough to get in."

btechtrader's picture

He was educated at MIT so he must be qualified to run a country.

web bot's picture

Well that says a lot... most of the wizards who developed the algos on Wall Street come from this fine institution.

yogibear's picture

The same group(s) of bankers/economist that fostered  the mess are called on to fix the problems. 

YesWeKahn's picture

We knew that the bankers own the world.The next US president could be Bernanke.

steadysteve's picture

So if the media diss him , is that a pap-smear?