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Meet Greek Austerity...At Long Last

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Wed, 09/21/2011 - 13:15 | 1693116 SGS
SGS's picture

Riots in 3....2...1.....

Wed, 09/21/2011 - 13:17 | 1693128 Ahmeexnal
Ahmeexnal's picture

Forget riots.

This is an outright declaration of war by the francogerman (via their puppet G-Pap) banking mafia upon the greek population.

Time for Greece to declare war on SarkoGela.

 

Wed, 09/21/2011 - 13:19 | 1693161 Oh regional Indian
Oh regional Indian's picture

hoooooly Halooooomi!

Wed, 09/21/2011 - 13:28 | 1693232 A Man without Q...
A Man without Qualities's picture

Load of bollocks.  The wages of public sector workers in Greece is often as much as 30% higher than in Germany.  When you actually work in out in terms of wages plus bonus and benefits per hour of work, it's more than double.  However, most public sector workers live in urban areas and the rents have risen dramatically, which is why they haven't seen a significant rise in standard of living.  Those who own the properties find ways of evading property taxes (you claim the property is unfinished) or paying tax on the rent (through dubious expenses claims). 

The problem for the Germans is they cannot intervene on domestic matters, such as tax code and collection standards, so the strategy is to make life unpleasant enough for the average citizen that they demand a change in the culture.

 

Wed, 09/21/2011 - 13:38 | 1693280 duo
duo's picture

And we thought the Irish got boned.

1000 Euro/month isn't luxury by any means

something Freudian about Greece "remaining the hard core" of Europe

Wed, 09/21/2011 - 17:30 | 1694579 Judge Holden
Judge Holden's picture

I don't get how the Greek government is still in power?  Why have their not been massive recall elections by the population?

Wed, 09/21/2011 - 13:20 | 1693163 agent default
agent default's picture

Riots serve to unleash anger.  It when you don't see riots in situations like these, that's when you should brace youself for outright war. 

I am going long 5.45x39 and RGD5

Wed, 09/21/2011 - 13:21 | 1693174 The Third Man
The Third Man's picture

"Woof, woof!!" ~ the greek riot dog

Wed, 09/21/2011 - 18:50 | 1694917 Anonsters
Anonsters's picture

Green for you, sir. Maximum green for Riot Dog.

Wed, 09/21/2011 - 13:29 | 1693242 Which is worse ...
Which is worse - bankers or terrorists's picture

SLAUGHTER.

Thu, 09/22/2011 - 07:44 | 1693371 MassDecep
MassDecep's picture

Yeah, Riots and then Compliance.

That is exactly how it will play out, here and there.

Keep watching that tv and listening to the spew. Your brain will conform, sooner or later. Or you die.....

Greece is the ant in the realm of elephants. Wait until French banks default in regards to Belgium obligations.

 

 

 

Thu, 09/22/2011 - 04:37 | 1696008 Nussi34
Nussi34's picture

The ratio colleted taxes / GDP is smaller in Greece than in Switzerland. What does this tell us? They pass laws and do not enforce them! So all this austerity is just on paper. Not even Excel savings, only ppt savings....

Wed, 09/21/2011 - 13:15 | 1693118 Moe Howard
Moe Howard's picture

50% reduction in vaseline use between men and boys.

Wed, 09/21/2011 - 13:23 | 1693194 Manthong
Manthong's picture

Peak vaseline?

Wed, 09/21/2011 - 13:57 | 1693385 HoardeBilly
HoardeBilly's picture

Has NAMBLA been notified!?!?

Wed, 09/21/2011 - 13:15 | 1693120 Bananamerican
Bananamerican's picture

"one riot gyro coming up"

Wed, 09/21/2011 - 13:50 | 1693344 WoodMizer
WoodMizer's picture

Does that come with teargas tzatziki and a molotov to wash it down?

Wed, 09/21/2011 - 13:15 | 1693121 Dreadker
Dreadker's picture

Sweet incentives to live in greece... So about a year from now we'll be replacing the word 'Greece' in the is article with 'USA' right?

Wed, 09/21/2011 - 13:40 | 1693304 Let them eat iPads
Let them eat iPads's picture

40% less food stamps for all.

Wed, 09/21/2011 - 21:41 | 1695368 Joseph Jones
Joseph Jones's picture

Yeah, all the people we know collecting $1150 on SSI: dropping down to $1049 immediately! 

Wed, 09/21/2011 - 13:15 | 1693124 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

And Greece is still in the game!

Wed, 09/21/2011 - 13:17 | 1693125 cossack55
cossack55's picture

Welcome to Debt Slavery dear Grecians.  One might consider a move to Sparta.  On second thought, Iceland would be a better move.

Wed, 09/21/2011 - 13:18 | 1693149 GeneMarchbanks
GeneMarchbanks's picture

Your new overlords(IMFecked) are here with a plan!

Wed, 09/21/2011 - 13:23 | 1693200 Spitzer
Spitzer's picture

If you think going back to the Dracma and taking the hit that way would be better, just ask the Wiemar Germans or the Zimbabweans.

Wed, 09/21/2011 - 13:54 | 1693368 Gold Man-Sacks
Gold Man-Sacks's picture

It's going to suck, regardless.  But, that would be the only way to get out from the iron grip of the banksters.

Wed, 09/21/2011 - 13:15 | 1693127 pain_and_soros
pain_and_soros's picture

Opa!! I'll have some flaming cheese with that

Wed, 09/21/2011 - 13:16 | 1693129 Irish66
Irish66's picture

No way

Wed, 09/21/2011 - 13:16 | 1693130 johnconnor
johnconnor's picture

Harcore man, really hard core... grandpas being forced to take a 20% cut and return to the laboral market making 40% less... in the meantime Goldman Sach Greece will raise the Christmas bonuses for the architect of this disaster another 20%

Wed, 09/21/2011 - 13:40 | 1693307 KidHorn
KidHorn's picture

Nobody is taking a 20% haircut. The 20% applies to amounts over 1,200 euros. I would guess many pensioners wont get a cut at all.

This is going to accomplish next to nothing. It's no different than US politicians announcing cuts that sound impressive on the surface, but when digging into the details, aren't cuts at all.

Wed, 09/21/2011 - 15:31 | 1694023 johnconnor
johnconnor's picture

Okay, sure, nobody is going to get a nominal haircut of 20%, but you tell me how Grandpa Milos and his wife Elena, 67, on a 2000 euro pension, will survive with 1840 euros, after he has to pay the new "solidarity tax" on top of all the other taxes, leaving him with around 1400 euros when you are having near double digit inflation in Greece.

Wed, 09/21/2011 - 17:32 | 1694586 Judge Holden
Judge Holden's picture

Double digit inflation?  I would think they'd be suffering from massive deflation?

Wed, 09/21/2011 - 18:02 | 1694735 johnconnor
johnconnor's picture

For food, I am just talking about food...

Thu, 09/22/2011 - 04:30 | 1696000 Nussi34
Nussi34's picture

Yes, but it is a bit difficult to spend significant amounts of money on food! Unless you want to weigh 200kg

Wed, 09/21/2011 - 13:16 | 1693132 Don Birnam
Don Birnam's picture

Now apply those same cuts to both Congress and the Executive Branch.

Wed, 09/21/2011 - 13:16 | 1693133 fdisk
fdisk's picture

Time to come back from sunny beach back to work at least

for few hours a week :)))

Wed, 09/21/2011 - 13:16 | 1693134 walküre
walküre's picture

Pensions for those UNDER 55????

Are we talking current pension payments or their planned pension payments?

If the first, how many Greeks UNDER 55 are eligible for pensions at this time?

WTF???????????

Wed, 09/21/2011 - 13:18 | 1693144 Dreadker
Dreadker's picture

I think its basically saying if you're under 55 forget about a pension... and if you're not born yet don't bother ;-)

Wed, 09/21/2011 - 13:21 | 1693181 scatterbrains
scatterbrains's picture

put another way,  if your a Greek cop expected to hold back the rioters, it's time to mix gas cocktails in your basement with the peoples.

Wed, 09/21/2011 - 13:20 | 1693167 reload
reload's picture

Must mean - projected pensions for those under 55 or `future entitlements`

After Italy, France Portugal etc etc have all been `bailed out` the above list will be aplied to all the citizens of Europe - in the interests of harmonisation. Except of course the beurocrats in Brussels will not have any of their fantastic, tax free, lifetime benefits reduced - at all.  

 

Wed, 09/21/2011 - 13:25 | 1693209 walküre
walküre's picture

I don't think so. It means that if you're pushing 55 and think you can retire, think again.

Let's wait for some clarification. The 20% cut on pensions over 1200 Euro is hardcore. I understand the reason behind it but that is a tough decision. That 20% cut is not going to come back into the economy which of course is the double whammy and the crux of all austerity.

Wed, 09/21/2011 - 13:22 | 1693176 Debugas
Debugas's picture

i'd screw it and stop paying and accumulating at all

shadow economy will get a huge boost

Wed, 09/21/2011 - 13:22 | 1693185 Galen Slade
Galen Slade's picture

Work 20 years, retire by 38 with a full pension.   Sounds good to me.  I could have retired about 20 years ago...  

Wed, 09/21/2011 - 18:25 | 1694836 DosZap
DosZap's picture

Galen,@13:22

This is COMMON practice for US Police,Fire,Fed,etc,etc,etc....................

Start at 20, retire 100% bennies at 40, and start a second career at 40, for a double dip.

Wed, 09/21/2011 - 13:40 | 1693305 PaperWillBurn
PaperWillBurn's picture

In the U.S you can get a pension much younger than that. Retired Military??

Wed, 09/21/2011 - 13:16 | 1693136 BrocilyBeef
BrocilyBeef's picture

Ahh, finally my vacation to pleasant, quiet and sleepy GREECE!

I smell Greek Bullshit.

Wed, 09/21/2011 - 13:18 | 1693147 HpDeskjet
HpDeskjet's picture

Lol, these "words" will/can never be implemented. Anyway, default is postponed to december. This is all political theatre to give ECB/EU time to develop restructuring plan for the Greece (and EU) banking sector. The default will come this year.

Wed, 09/21/2011 - 13:18 | 1693148 tawdzilla
tawdzilla's picture

just a matter of time until austerity finally makes its way to the US

Wed, 09/21/2011 - 13:18 | 1693150 alien-IQ
alien-IQ's picture

glad to see all the worlds problems are fixed. what a relief huh?

wait a minute...do you smell that?...what's that smell?...it smells familiar...I'm sure I've smelled this before...yes i do know this smell...it's BULLSHIT!

Wed, 09/21/2011 - 13:21 | 1693154 lolmao500
lolmao500's picture

Time for a coup d'état. What the hell is the greek military doing? Military coups we can believe in.

Wed, 09/21/2011 - 18:49 | 1694907 edotabin
edotabin's picture

Busy looking at Turkey who are there to remind them not to screw up the bankers plans.

This all encompassing.  You don't just say "haircut" and that's it. You don't just say "drachma" and "opa" and that's it. Should the Greeks revolt, leave the Euro etc. the bankers will make their lives a true, actual and literal hell.

Watch the correlation between how Greeks are progressing with the Troika and Turkish aggression.

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