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Must See: Greece Explained In One Picture

Tyler Durden's picture





 

We were going to do a caption contest out of this image, but unfortunately this is not funny. It is tragic. Many people will lose all their money, savings, livelihood, and more because of this...

What is it? It is a picture taken at the Athens ministry of finance.

It is part of a full documentary (go to 24 minutes in for the lack of money shot) released a few days ago by German TV station ZDF called The Greek Lie. It is self-explanatory, and shows where 2 years of bailout funds went, or rather didn't, and why 2 years to the day after the first bailout, not only is Greece not fixed, but is days away from leaving the Eurozone, but at a cost to taxpayers of nearly half a trillion.

We urge anyone, even non-German speakers, to set aside 45 minutes and view the clip below. It is unsettling at best.

 


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Mon, 05/14/2012 - 11:23 | Link to Comment vast-dom
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shit meet fan

Mon, 05/14/2012 - 11:25 | Link to Comment jcia
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Just keep on studying. One day you will be able to print money like bernanke.

Mon, 05/14/2012 - 11:26 | Link to Comment markmotive
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Love it.

Dr Jim Walker of Asianomics: "Worst yet to come for Europe"

http://www.planbeconomics.com/2012/05/14/dr-jim-walker-china-in-for-a-ha...

Mon, 05/14/2012 - 11:38 | Link to Comment hedgeless_horseman
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lol 

The taxonomy bot does have a sense of humor.

Mon, 05/14/2012 - 11:45 | Link to Comment AldousHuxley
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they are to be contestants on the TV show Hoarders

 

but what's in those black bags? IOUs? left over take outs?

Mon, 05/14/2012 - 11:49 | Link to Comment I Am Not a Copp...
I Am Not a Copper Top's picture

Olives

Mon, 05/14/2012 - 12:12 | Link to Comment The Big Ching-aso
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It's like a Bowery yard sale advertized on Christoslist.

Mon, 05/14/2012 - 12:19 | Link to Comment Harlequin001
Harlequin001's picture

Is Gpap still in there somewhere?

Mon, 05/14/2012 - 12:38 | Link to Comment iDealMeat
iDealMeat's picture

holey frickin eyebrows @ 1:11

 

Mon, 05/14/2012 - 12:51 | Link to Comment Xinu
Xinu's picture

LOL! I'm glad I'm not the only one who saw those monsters!

Mon, 05/14/2012 - 13:15 | Link to Comment Colombian Gringo
Colombian Gringo's picture

Yes, the topic  is serious, but that photograph of the finance ministry is  just still too fucking funny!

Mon, 05/14/2012 - 13:18 | Link to Comment blabam
blabam's picture

I want that chair! 

Mon, 05/14/2012 - 13:33 | Link to Comment The Big Ching-aso
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It looks like turd world donations at a Badwill Store.

Mon, 05/14/2012 - 13:58 | Link to Comment I am more equal...
I am more equal than others's picture

Going Greek - bending over and taking it since Alexander.

Mon, 05/14/2012 - 17:21 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

A day at the office in Greece sometimes feels like a day at the landfill.

Mon, 05/14/2012 - 17:37 | Link to Comment Carl Spackler
Carl Spackler's picture

The video showing pictures around the Finanz Amt (Greek Finance Office - with tax collection rolls) is just par for the course.

Fascinating piece.

Bottom line...the whole Greek and Euro crisis is built on political corruption gone wild...they are professionals in a game the Amateur, Obama, has been forcing the US populus to try and play. Of course, Immelt and Blankfein and Corzine and Dimon have been trying to master such.

Greek crooks in government do their quid pro quos with Greek crooks on yachts, over and over again, until the thing bankrupts.  Then, all of them escape to Monte Carlo on their yachts, while the naive Greeks starve and cannibalize each other on the land that is called Greece.

Such a Mediterranean mentalitty...when the boat starts sinking get off first with as much loot as possible and leave everyone else to go down with it.

 

Mon, 05/14/2012 - 18:51 | Link to Comment citta vritti
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loose translation/summary avaialbe at Day_of_the_Tentatcle's postings below.

"lack of money shot" is earlier than cited, at 5:20 or so; all the scarier because two or three scenes before was video of people and garbage in the streets and it looks just like this MoF storage area

Sat, 08/25/2012 - 16:02 | Link to Comment hbjork1
hbjork1's picture

Ah! Advanced risk management.

Mon, 05/14/2012 - 12:25 | Link to Comment WALLST8MY8BALL
WALLST8MY8BALL's picture

More like Storage Wars

Mon, 05/14/2012 - 12:39 | Link to Comment redpill
redpill's picture

I hear Dave Hester is setting up an auction house in Athens.  YYYUUUPPP!

 

Mon, 05/14/2012 - 13:01 | Link to Comment EndTheMedia
EndTheMedia's picture

This actually sounds like a great way to solve there problems. 

Mon, 05/14/2012 - 17:05 | Link to Comment The Big Ching-aso
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"To the right of our tour bus you'll notice one of our more famous ruins, The Ministry of Finance."

Mon, 05/14/2012 - 20:22 | Link to Comment palmereldritch
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The Acrapolis

Mon, 05/14/2012 - 13:03 | Link to Comment trebuchet
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Ok so THAT's Where the Troika funds are kept.

Mon, 05/14/2012 - 13:23 | Link to Comment johnnymustardseed
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I swear I see a picture of Jamie Dimon on the back wall

Mon, 05/14/2012 - 17:27 | Link to Comment The Big Ching-aso
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"The Sword of Dimoncles hangs like an angry penis across our land."

-George Michael

 

Mon, 05/14/2012 - 19:25 | Link to Comment Freddie
Freddie's picture

The irony is Jamie Dimon is a Greek-American married to a tr*be member.

Mon, 05/14/2012 - 15:02 | Link to Comment Bubble
Bubble's picture

The Greek MoF is merely storing all of the collateral the ECB received in their LTRO operations. The least they could do.

Mon, 05/14/2012 - 17:46 | Link to Comment Jendrzejczyk
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After rehypothication, that chair is worth 1.7 trillion euros.

Mon, 05/14/2012 - 15:20 | Link to Comment Peter Pan
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Maybe they could make an appearance on Storage Wars.

Mon, 05/14/2012 - 17:16 | Link to Comment The Big Ching-aso
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The good news is that if they start WWIII in Greece there'll be very little infrastructure around to destroy.

Mon, 05/14/2012 - 16:36 | Link to Comment americanspirit
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MF Global customer account documents. Plausible deniability for JPM London - damn, we just can't find those things. It's like they vaporized or something.

Mon, 05/14/2012 - 21:45 | Link to Comment The Big Ching-aso
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The Grape Leaves of Wrath.

-John Steinopolous

Mon, 05/14/2012 - 20:40 | Link to Comment mjcOH1
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"but what's in those black bags? IOUs? left over take outs?"

 

Small bills.   Not even the cleaning crew would take the bags of 1 euro notes.   Too close to the stink of work about that....

Mon, 05/14/2012 - 11:47 | Link to Comment Tortfeasor
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Dying for an english translation.

Mon, 05/14/2012 - 11:51 | Link to Comment Rainman
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Der mann, der lachelt, wenn Sachen falsch gehen, hat an jermand gedacht, um es an zu tadeln.

The man who smiles when things go wrong has thought of someone to blame it on.

Mon, 05/14/2012 - 12:12 | Link to Comment WonderDawg
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But the man worthwhile is the man who can smile when his shorts are too tight in the seat.

Mon, 05/14/2012 - 12:23 | Link to Comment WALLST8MY8BALL
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Are you my Pal? Mr Scholarhsip Winner? hmmm hmmmm hmm?

Mon, 05/14/2012 - 12:28 | Link to Comment Harlequin001
Harlequin001's picture

Nothing left to fight over now but the land itself.

Good stuff this fiat money eh,? It's amazing what you can do with it, given a banking licence and some pals in govt...

Mon, 05/14/2012 - 13:12 | Link to Comment mtomato2
mtomato2's picture

...Looks like they still have a couple of chairs... ...so they got that goin' for them... ...which is nice...

Mon, 05/14/2012 - 17:38 | Link to Comment Calmyourself
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Yeah, a few chairs but the music is about to stop and their are millions of them...

Mon, 05/14/2012 - 18:42 | Link to Comment gilliganis
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Gunga galunga!

Mon, 05/14/2012 - 13:17 | Link to Comment WonderDawg
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How 'bout a Fresca?

Mon, 05/14/2012 - 13:29 | Link to Comment The Big Ching-aso
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"Christos!    Where in the phuck did you put the abacus?"

Mon, 05/14/2012 - 14:38 | Link to Comment Beaver_Valley
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Nice one! I snickered and I've only had two glasses of wine - normally it takes more...

Mon, 05/14/2012 - 13:52 | Link to Comment Chief KnocAHoma
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How 'bout a Fresca?

Mon, 05/14/2012 - 12:24 | Link to Comment Harlequin001
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you see the real problem is that having just necked a few beers I actually understand German. Amazing...

Mon, 05/14/2012 - 13:09 | Link to Comment trebuchet
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and the man with the smile in the short shorts for a while will huff and a puff and tweet tweet

 

Mon, 05/14/2012 - 19:17 | Link to Comment BidnessMan
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We need Judge Smales as Attorney General.  Eric Holder is not doing anything

Mon, 05/14/2012 - 13:44 | Link to Comment Reptil
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Ok, but it was COMPLETELY CLEAR ALL THE TIME that it was a black hole.
The Brussels bookkeeping looks neater (computers) but is just as big a mess.

https://www.youtube.com/watch?v=uo1ygFynK30

 

Mon, 05/14/2012 - 14:25 | Link to Comment Catch-22
Catch-22's picture

OR

The man who smiles when things go wrong might not have fully understood the depth of his predicament 

 

Mon, 05/14/2012 - 12:00 | Link to Comment gdogus erectus
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"...I saw you deed around here somewhere..."

Mon, 05/14/2012 - 12:26 | Link to Comment The Big Ching-aso
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At least they took the time to organize their financial records in nice piles.

Tue, 05/15/2012 - 01:26 | Link to Comment matrix2012
matrix2012's picture

Yes, at least some summary in Eng will be quite helpful and appreciated!

Please, please... German speaking readers, please be kind to give some translation, minimally its summary, for ZH readers. Vielen dank!

ps. One with Eng subtitle is the most helpful :)

 

**** Thanks a lot Day_Of_The_Tentacle *****

for taking LOTS OF TIME to do the TEDIOUS, LENGTHY translation. It's definitely VERY HELPFUL  to understand the ZDF video!!

DANKE SCHÖN :D

 

ps. this is a great video to SPREAD OVER to those sheeples so they may grasp the essence of Greek crisis much better, a picture is worth of thousands of words. And the translation is surely very helpful!

Tue, 05/15/2012 - 08:00 | Link to Comment Day_Of_The_Tentacle
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Thank you all for the appreciation and upticks. I have learned so much on this site from others, who were willing to spend time on making the message more accessible. I am just trying to give a bit of that attitude back to the community.

Mon, 05/14/2012 - 13:39 | Link to Comment Day_Of_The_Tentacle
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My german is really bad, but here is some simplified and abbreviated take aways:

Intro: After the elections the country is in even deeper chaos, ungovernable. The greek young lady: The politicians have decieved people for many years and we are in deep trouble. The man: In a fallen state, there is a lot of corruption (EU paper:) and criminal energy. Next man: With the correct numbers, Greece would not have been admitted to the Euro. The Greek Politician: Frau Merkel - the austerity program is dead. Speaker: Germany must continue to pay. Next man: When it is said that until now this has not cost Germany, this is not true.

Headline: The Greek Lie

Greek Shipping Tycoon: We are overloaded with mismanagement. Hardly anything functions properly. The whole state is corrupt. If you had money, would you hand it over willingly to a bunch of Al Capones? and at the end of the program: We have to change or die! Described as youth friend of King Konstantin and part of greek elite.

The next guy: Didn't quite understand, but he said that the tycoons had been living so far on their yahts in Monte Carlo.

Pictures from central Athens. The billions from EU is nowhere to be seen here. Drugdealing, prostitution etc. People live on the streets. Handbags pinched. Police powerless watching the decay. The people are suffering.

Pictures from habour: They have started registering the boats to claw in tax money to pay "renten" (pension?) for people - enough for a whole village.

Pictures from Athens Finance Department: Non functioning state of affairs. Mountains of paper... paradise for tax evaders.

Prof. Heinz Richter - one of the few Greece experts in Germany. He is unhappy with the naivite by the politicians from Bruxelles to Berlin. He says that in Greece the state has always been the oligachy, and people who adapt to that as well as possible will make it.

Prof. Thomas Straubhaar - in a failed state you have corruption, nepotism, black economy etc. when the governing structures that has the power to end these things have failed.

All this was know, when Europa gave the greeks the Euro, and they were all in favour.

Helmut Kohl: in which ever way you look at it the European community is the only way to longstanding life in freedom and peace and wealth for the european people. 

Frits Bolkestein: Helmut Kohl was a romantic when it comes to the European Political Union. For him it was the way to put WWII behind us. He also wanted all in the Euro, whether they qualified or somewhat qualified, but that was a big mistake.

The political vision was more important than economical sence. When Greece was admitted to the Euro, only a short paragraph was included to the EU document with congratulations. The Red-Green government was on board. Doubts? None.

Hans Eichel: Greece had been through a long process of compliance and congratulations with the fine result.

1. Januar 2002 Greece becomes a member of the Euro. Great Enthusiasm. Finally a hard currency, and that is why they falsified their numbers.

>>>> stay tuned for part II

If there are mistakes, they are definately not intentional.

Mon, 05/14/2012 - 13:49 | Link to Comment Jena
Jena's picture

Thanks.  I'm stuck in the middle of Rosetta Stone German 2.

Mon, 05/14/2012 - 18:17 | Link to Comment dogbreath
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do you need a tutor

Sat, 05/19/2012 - 17:15 | Link to Comment Jena
Jena's picture

Sorry, just saw this.  Right now it's more a matter of time than anything else but if that changes, perhaps.

Tue, 08/28/2012 - 17:44 | Link to Comment hbjork1
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If you think Roseta Stone version is bad, wait until you get to Hohe Deutsch.

Mon, 05/14/2012 - 13:57 | Link to Comment AlaricBalth
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Thanks for taking the time to do this.

Mon, 05/14/2012 - 14:13 | Link to Comment vh070
vh070's picture

Sounds about right.  Thank you!

Mon, 05/14/2012 - 14:34 | Link to Comment Day_Of_The_Tentacle
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Summary Part II: (again simplified and abbreviated)

Theo Waigel: Greece would not have been admitted, with correct numbers. The greek politicians have a great responsibility to the greek people but also the european idea. 

From 2004 the Eurostat had problems with the numbers, and getting the correct numbers. Their hands were tied. Didn't quite understand this segment - others please chip in.

Walter Radermacher: Eurostat relies on the cooperation by the member states. When that cooperation fails, then /shrug/ it is a stopping block. We do not have the key to open the desks ourselves.

EU had to react. 2. April 2004. EU inspectors travel to Athens and what they uncovered was way beyond wildest fears. The numbers had been fudged. The debt was in reality much higher than stated. Greece was massively non compliant with the Stability Pact.

Panyaotis Carvounis: Greece was under survaillance because of the breach of the 3% but the situation was different and Europe was not in crisis like present so there were no sanctions.

Frits Bolkestein: His disappointment in Bruxelles was with the collective of commisionaries. They were far too scare-di-catty and politically correct, so he was often standing alone. Romano Prodi had even said that the Stability Pact was stupid, and he had said that in the parliament.

The selfdeciet continued. There was a whistleblower Anthon H, highlevel civil servant, who wanted to stay anonymous. The truth was not wanted, he said. There is criminal energy here which damages the european households. He had complaints but that was politically not wanted.

And there were reasons for this. The European heavyweights France and Germany did not care about the Stability pact either. 2004. German Finance Minister Hans Eichel in trouble. Germany had breached the Stability pact for the third time. Frances Sarkozy also. So they just agreed to make a change to the Pact instead.

Jean Claude Trichet: Italy, France and Germany would let go of the Stability Pact. So why would the smaller counties then adhere. It was realized that the Stability pact had no teeth.

And those who spoke out against it were pressed back.

Wolfgang Bosbach: Through his party, he had pressed for the truth. But it was as it is today, that when you operate with numbers, data and facts on the objective team, you will immidiately be confined to the corner as europe critic, as if you had not notion of the european idea and the purpose of peace.

So the money poured into Greece. The Olympics were to be spectacular. Building boom ensued. All financed "auf pump"

Prof. Heinz Richter: Suddenly you go fearlessly into debt and the problem was that Bruxelles was still sleeping or standing idly by.

Prof. Thomas Straubhaar: Didn't quite understand, but he said that since Greece joined the Euro with building boom and all, the wages had gone up, and competitiveness down. 

Which can be witnessed in Northern Greece. After 10 years the once vibrant tectile industry is in a dilapidated state. The few left are [doing something else] The middle class collapsed.

Among the exeptions we find a yarn spinning plant headed by the 25 year old Cecile.

Cecile Vavaressos: They have seen early that they needed to invest differently in other products and production technoligy because of great competition in cotton thread. She has seen nothing of the billion euro help packages from Germany and Europe. In opposition to this she has strict terms in the bank and she can no longer receive credit from the bank, so they use other capital. The bank does not lend anymore out of fear for defaults.

>>> Stay tuned for part 3

Mon, 05/14/2012 - 15:41 | Link to Comment Day_Of_The_Tentacle
Day_Of_The_Tentacle's picture

Summary Part III: (again simplified and abbreviated)

Gone were the golden "00" years. Back then lots of money was flowing. Credit was cheap. Luxury items in demand. The rich and beautiful were shopping - in Boutique Playboy. 

Georgios Papapanajotou: There was a great demand for really good clothes. Those were the good times.

Something about good pensions, blowted state, it was a land of milk and honey.

Antonis Boudouris: For him the cost of living is high, so he has 2 jobs like many other greeks. He has a private sailing school along with his job as civil servant harbour manager. In most other greek families you would find a person with a public job.

Takis Michas: Not only are many civil servants not actually working. They do not have to show for work, and many times they will only show up to collect their pay once a month. Sometimes they do not actually know who the civil servants for a given area are.

And then the Greeks was in victory mode again. It was a sensation when Greece won the Soccer Championship in 2004. Celebrations days and nights on end, as if there would there would be no morning. The Greeks felt like Kings, and their politicians enhanced the loss of reality. There is enough money they said. And Europe was a spectator.

The public debt had more than doubled between 2002 and 2010. 159 Bl Euros to 329 Bl Euros, but then came the rude awakening. Crisis meeting in Bruxelles 25.03.2010. Would the Euro fall. Merkel tried to calm the waters and said that Greece had not asked for money, but things went quickly and alas she had to pay. The greeks got 22 Bl Euros. Only 5 weeks later on 02.05.2010 it is friendly embrassing of the greek cousin finance minister. Greece was given 110 Bl Euros. A last minute save.

Jean Claude Trichet: We are in the worst crisis since WWII and possibly since 1929 if we had not acted. This is the reality.

So Merkel had to pay. She said that Germany would pay when conditions were met.

Wolfgang Bosbach: Backtracking talk on behalf of the politicians. First it was no money for Greece, then it was yes, but it cannot be extrapolated to the other southern nations. The tune has all changed and not over a decade but with a few months, so it leaves you with the question of whether the politicians can be trusted.

Then comes the question of the banks, [this part I did not fully understand] and i think the question on whether the banks should participate in the writedown on the public debt, when greece may have been a golden venture for the same banks during the good years. [can someone please chip in with this section?] Merkel said private sector participation was necessary. Possibly the german banks had long before disposed of their greek paper, but they should still participate?. The taxpayer would end up paying anyway.

Gerhard Schick: The federal government did not communicate clearly that the bill would end up with the taxpayer because behind the banks were state institutions and behind those the taxpayer.

The Hypo Real Estate cost the taxpayer 9 Bl Euros.

Wolfgang Bosbach: When they say that this has not yet cost the taxpayer money, this is not correct.

4Bl Euro in Greece papers, 23 Bl Euros credit in "Rettungs" package, Germany has a share of the obligations within the ECB 43 Bl Euros, so about 70 Bl Euros is at stake for the German Taxpayer.

That is why Germany sets hard conditions for the money. Greece must commit to austerity. The answer was mass protests, strikes, and civil unrest. The heart of the requirements sharpened the crisis. The greeks had to reduce 30% in renten (pension?) and 22% in wages, but they were to raise the military spending by 8%, of which the German Weapons Manufacturers would be a beneficiary.

Extremist parties on the rise with a third of the votes. Long gone grievances surface once again. Hostile words were once again aimed at the german people and their chancelor.

>>>>>Stay tuned for part 4

Mon, 05/14/2012 - 17:42 | Link to Comment citta vritti
citta vritti's picture

DOTT: much obliged. thank you. keep 'em coming

Mon, 05/14/2012 - 17:51 | Link to Comment Day_Of_The_Tentacle
Day_Of_The_Tentacle's picture

Summary Part IV: (again simplified and abbreviated)

In october 2011 a delegation of business people flew to greece headed by the minister of commerce Rosler to see if they could contribute with business investment, among others Wolfgang Meier: They met with big companies, but the overall impression of widespread corruption, meant no investments were to be made. When he is to invest his money, he would go where it is the easiest place to do business, and with all the strings attached and Greece politically unstable it was not attractive.

The Rosler trip appeared more to be a show/photo op.

The EU knows about the difficult conditions in Greece. In a confidential EU document a sobering conclusion is made: Slower recovery, Lower Privatization Proceeds, Under these assumptions the Greek debt levels are at very high levels.

The correction process seems faltered. The Austerity program has hindered people. The consumer has collapsed.

Prof. Thomas Straubhaar: Completing the austerity plan will result in hardship for regular people in the medium term

Very sad story about Raffaella Suleiman, a mother, who cannot afford food for her children, so she has put them into an orphanage, where she can only see them every 5 weeks. She makes 20 Euros per day working in a factory. During the crisis people would make as little as 13 Euros per day. The boy want to grow up and make a lot of money, so he can help his mother and move back home.

Georgios Basdaris: They have little money to look after the children, and they have to spend some of that elsewhere [didn't get what it was].

How does the economist respond to this.

Prof. Thomas Straubhaar: When it comes down to great political failure, when there is war or big conflicts, the regular people are always hardest hit, because they do not have the means to move their wealth and even themselves abroad like the more priveledged people can.

To London, a safehaven for capital on the move where multibillion coperations recide. The greek comunity of old times built the orthodox church in Westminister. We meet Effie, who is a banker, and Dimitrios, who is an economist, who have lived in London for many years and both well off. With the Euro crisis many greek nationals joined them in London, because many well educated youth flee the crisis also to bring their money to safety.

Effie Geraki: There is no prospect in Greece and no hope of a good job. 

Dimitrios Koufupolos: There are quite many well off greeks who want to protect their economical situation, so they bring their money abroad to invest them e.g here in London.

So the rich greeks invest in seriously expensive real estate in the posh parts of London, which can be rented out for maybe 15000 pounds per week. Super luxurious abodes with cellars of significant value in itself.

Noel de Keyzer: The real estate agent has benefitted from the crisis, since he has seen an influx of Italian, Spanish and also recently Greek wealth ready to invest in his high prized properties.

Meanwhile Greece goes down and the youth flee.

Anna Tourla: Young woman determined to leave. Well educated but unable to find work. Lives under same roof as mother and brother and feels like part of a lost generation. She wants to be independent, and have a private life, but that is not possible, when she makes no money of her own. Many of her friends have moved back with their parents.

For pocket money she works at the Goethe institute for a few Euros. Here she is learning the German language to improve her chances. She hopes for a better life in Germany. Since the beginning of the crisis, the Goethe Institute has been swarmed with applicants for their German courses. Whether doctors or engineers many are hoping to leave.

Anna Tourla: The younger generation would like to go to other countries to study and to work, and that is quite bad for Greece. Most believe that they will return, but she thinks that that is pie in the sky. For example her cousin, who went to Germany to study, and found a job, and now says she will never return to Greece.

Elections in Greece. Anna is joining the rallies with her friend Jannis, but they have no high hopes nor trust in the politicians. They hear empty words from the earlier finance Minister of the socialist PASOK party, on of two parties that have been in power for the last 40 years and part of the reason for the crisis.

Anna Tourla: He said that the country will be well, with stability, and that there would be no new taxes, but she does not believe him. 

Jannis Tsompos: He was there before the problem. He is a part of the problem.

Anna Tourla: Unfortunately she believes in noone. They have decieved for too many years. Mistrust is too deep because of all these lies.

The voters have run away from the established parties. Beneficiaries have been the radicals - right and left - Faschists and Communists. The biggest winner is the alliance of the radical left lead by a young and an old hero. Manolis Glezos is one of the last resistence fighters still alive, who fought the Nazis. His party wants to abolish the Austerity plan and the old system. 

Manolis Glezos: Those responsible for the catastrophy are shameless. They are letting the people bleed and [?].

After the elections noone knows what happens. Without the Austerity Plan, Europe will not pay, and then comes the bankrupcy. It is unclear who will lead Greece. Either way, Anna and her friends have had enough.

Jannis Tsompos: All people he knows, when they have the opportunity, they will leave. He loves his country and it is really bitter to have to leave. 

A difficult choice. "Heimat oder zukunft" - homeland or a future.

Jannis Tsompos: He thinks about what is good for his country and what is good for him, and the latter has the priority.

Greece - where to? The only thing that is clear, is that it will impact the saga of Europe and Berlin.

Alexis Tsipras: Frau Merkel, the austerity plan is dead. It has been a defeat.

A defeat also for the European Greece policy. New fear and uncertainty []. Euroland in even more trouble. And the perspectives...

Prof. Thomas Straubhaar: That Germany will spend very many years and transfer very much money to transform like they did in East Germany, the same will be needed for Greece [not quite sure about this one]

Jean Claude Trichet: Greece has a lot of hard work to do. They must adapt and take the pain to achieve the change and maximize the chance of the job being done.

Frits Bolkestein: There is no future for the Greek in the Euro. It would be better if they exit the Eurozone.

Prof. Heinz Richter: The EU should have had the state finances under control for the last 30-50 years but the oligarchy was against that.

Evangelos Angelakos: It is up to us to work. We must change or die. Change or die, finish!

>>>>>>>>

Phewww, that was a long one. I apologize for any mistakes. Hope you enjoy!

 

 

 

 

Mon, 05/14/2012 - 18:03 | Link to Comment tonyw
tonyw's picture

Thanks for the translation, much appreciated.

Summary - the people kept electing those who promised them the most then were surprised when the money ran out.

Mon, 05/14/2012 - 17:57 | Link to Comment Seer
Seer's picture

"Prof. Thomas Straubhaar - in a failed state you have corruption, nepotism, black economy etc. when the governing structures that has the power to end these things have failed."

And how is this any different than in a "non-failed" state?

"Success" and "failure" is primarily attributes given by the ruling elites.  Most often the appearance of propriety is just a well veiled copy of the crude crap.

Mon, 05/14/2012 - 12:37 | Link to Comment TheGardener
TheGardener's picture

On the tragic side of this caption contest, see that worn chair proving dealing and wheeling at least worth a million in back taxes? A shit load of phony junk evidence worth a lot of bribes collateralized against billions of bailouts for their backers.

Mon, 05/14/2012 - 11:36 | Link to Comment Manthong
Mon, 05/14/2012 - 11:38 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

What a tangled web we weave,

When first we practice to deceive.

Or rather when we hire GS to do the deceiving for us.

Mon, 05/14/2012 - 12:05 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

I'm wondering if the Minister of Finance is in one of those bags?

Mon, 05/14/2012 - 12:11 | Link to Comment LongSoupLine
LongSoupLine's picture

No, but he's left holding the bag...

Tue, 05/15/2012 - 03:38 | Link to Comment John Wilmot
John Wilmot's picture

Nah, he's in several of them

Mon, 05/14/2012 - 14:52 | Link to Comment Sudden Debt
Sudden Debt's picture

If you watched the movie, it's not GS it's fault, they where just a tool.
It's the politiicans and oliarchs who looted the country and europe itself who destroyed Greece.
By entering the union, waes went up because government workes urned more than private workers so wages rose and companies went bankrupt.
And now the need to restart for wages that are no more than 400 euro a month.
It's a tragedy out of which they can't escape.
They still need to find rock bottom and start from scratch. And they have absolutetly nothing to get them started.
Unlike for example eastern germany who had a history of industry, Greece has nothing.
Greece will really lose it all and those who have money are all gone now.

Mon, 05/14/2012 - 17:34 | Link to Comment smb12321
smb12321's picture

And my response - who elected those folks over and over and over?  No foreign power forced Greece to institute the absurd 13th and 14th payment or create pensions that could only be paid through massive debt?   I feel for the pensioners and those without a job but blaming foreigners is like blaming California "politicians" when the electorate sends them back to screw up again and again.

Mon, 05/14/2012 - 17:37 | Link to Comment Sudden Debt
Sudden Debt's picture

Hey, I'm with you mn, nobody hit the streets when their governments overspend and raised the wages by 400%.
those who matter are getting out now and those who stay will become our cheap labor force. Let's hope they're will to work for a living from now on.

Mon, 05/14/2012 - 11:50 | Link to Comment Chief KnocAHoma
Chief KnocAHoma's picture

Somebody go buy a really good shredder!

Mon, 05/14/2012 - 12:22 | Link to Comment smithcreek
smithcreek's picture

Somebody's gotta go back and get a shit-load of dimes!

Mon, 05/14/2012 - 12:01 | Link to Comment Widowmaker
Widowmaker's picture

Just remember, they steal all that is printed against.

Fraud Inc. is the fourth reich.

Mon, 05/14/2012 - 12:43 | Link to Comment pkea
pkea's picture

typical picture when the ECB, the IMF funds are at the proverbial hills with who ever run with them( the only hedge that did work but not enough and not to the expected extent for Chase)

Mon, 05/14/2012 - 11:23 | Link to Comment Jason T
Jason T's picture

I prefer, "Ship meet sand."

Mon, 05/14/2012 - 11:31 | Link to Comment GMadScientist
GMadScientist's picture

Ship meet rocky crags.

Mon, 05/14/2012 - 11:33 | Link to Comment CClarity
CClarity's picture

US equities trading with a lot of ouzo into the European close today.  Fixed income still telegraphing something much more dire.

Mon, 05/14/2012 - 11:37 | Link to Comment AlaricBalth
AlaricBalth's picture

Ship meet other ship.
Both go down.

Mon, 05/14/2012 - 13:31 | Link to Comment Jonas Parker
Jonas Parker's picture

Ship meet Marianas Trench!

Mon, 05/14/2012 - 11:35 | Link to Comment cossack55
cossack55's picture

"Ship meet shit"

Mon, 05/14/2012 - 13:02 | Link to Comment vast-dom
vast-dom's picture

how about:

 

SOUVLAKI meet GYROS

 

 

a bit of blood and flesh chunks would have rounded out that pic - looks like a zombie-sheeple apocalypse run!

 

 

Mon, 05/14/2012 - 13:02 | Link to Comment krispkritter
krispkritter's picture

Captain Schettino, meet ship.

Mon, 05/14/2012 - 11:27 | Link to Comment Pladizow
Pladizow's picture

Coming up next on Extreme Hoarders: Greece Buried Alive!

Mon, 05/14/2012 - 11:34 | Link to Comment DeadFred
DeadFred's picture

This is what the ECB portfolio would look like if you could see it.

Mon, 05/14/2012 - 12:31 | Link to Comment Zero Debt
Zero Debt's picture

I can see my loan contract from here!!!

Mon, 05/14/2012 - 11:33 | Link to Comment Sauk Leader
Sauk Leader's picture

Ha! Start digging, maybe thats where they "found" billions to keep the government running a while back.

Mon, 05/14/2012 - 11:50 | Link to Comment DosZap
DosZap's picture

Why act like this is a surprise, 99% here, have known Greece has been milking this since DAY one.Simply theft..............

Same thing will happen in the next domino..........................

 

Mon, 05/14/2012 - 12:25 | Link to Comment FREEEEEEEEEDOM
FREEEEEEEEEDOM's picture

Its not greeks fault, as the good Panos puts it: "its not the greek who has a problem, you gave greece money, you have a problem."

If anything the greeks should be celebrated fot ending this ponzi prematurely. Living in limbo is a horrible thing.

Mon, 05/14/2012 - 13:15 | Link to Comment mtomato2
mtomato2's picture

... if I owe you $100.00 then I have a problem.  If I owe you $100,000 then YOU have a problem.

Mon, 05/14/2012 - 11:57 | Link to Comment NumNutt
NumNutt's picture

And the crowd with pitch forks and torches come into view in 3, 2, 1......

Mon, 05/14/2012 - 12:18 | Link to Comment JohnKozac
JohnKozac's picture

Aren't they near "a deal?"

Mon, 05/14/2012 - 12:25 | Link to Comment jus_lite_reading
jus_lite_reading's picture

Literally...

Hearing more and more about Greece leaving after next payment...

Here is what is happening in central Athens...

http://blog.occupiedlondon.org/2012/05/11/may-9-police-and-nazis-in-joint-operation-against-migrant-traders-and-anarchists-in-central-athens-in-broad-daylight/

Beautiful place to vacation, don't you say?

Mon, 05/14/2012 - 18:42 | Link to Comment Freddie
Freddie's picture

Thank Tyler's for posting this.  I wish the German TV documentary crew would caption this in English.  I can understand some of the German.  What a tragedy of corruption like Chicago and California.

I would go nuts when Europeans would be so happy about the EU due to endless media propaganda.  "We are all Europeans."  Ah no you are not.  You are not the same.

The one German professor was furious.   The EUUSR is shit and Kohl was a fool and ditto his puppet Merkel.  Any idiot could have sen where this was going.  Greece is a pirate tolietten-land and eine scheisshaus.

Mon, 05/14/2012 - 19:48 | Link to Comment Freddie
Freddie's picture

A lot of what you are seeing too is "free trade" with China.  The Greeks switched to the Euro which was death to the textile factories.  Italy's garment and furniture businesses also got killed by China. 

It is ****ing madness because about all Greece had was textiles, shipping, olives and maybe a few other things. The Euro's high cost killed textiles.  

The EUSSR scum trying to get China to help with "bail out" money.  The Chinese must laugh because they wiped out a lot of European jobs.  In large part due to the expensive Euro and Chinese FOXCONN slave labour.

Mon, 05/14/2012 - 11:23 | Link to Comment Max Hunter
Max Hunter's picture

For Sale:  One Lot of Junk.. Local pick-up only..

Mon, 05/14/2012 - 11:44 | Link to Comment Raynja
Raynja's picture

They probably have more assets in the basement than 33 liberty does.

Mon, 05/14/2012 - 12:33 | Link to Comment Zero Debt
Zero Debt's picture

What you see in the video is the asset department, the liabilities department in the basement was not shown for reasons I cannot go further into.

Mon, 05/14/2012 - 11:24 | Link to Comment mantrid
mantrid's picture

is that Venizelos' chair in the center?!

Mon, 05/14/2012 - 11:23 | Link to Comment mantrid
mantrid's picture

nah.. on the second thought.. it's too small for him.

Mon, 05/14/2012 - 11:38 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

Financial records.  I wonder if that building is gonna get hit by an airline or something.

Mon, 05/14/2012 - 12:05 | Link to Comment Bam_Man
Bam_Man's picture

That is the chair for his left cheek.

Mon, 05/14/2012 - 12:35 | Link to Comment Zero Debt
Zero Debt's picture

This is where those musical chairs end up after you play the game.

Mon, 05/14/2012 - 11:24 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

My Big Fat Greek Hoarders.

Mon, 05/14/2012 - 11:25 | Link to Comment walküre
walküre's picture

Was thinking "Storage Wars - Athens"

Not even Brandi would bid on that shit.

Mon, 05/14/2012 - 11:42 | Link to Comment bdc63
bdc63's picture

think of it this way ... once hyperinflation sets in, all those binders filled with paper will make excellent firewood ...

Mon, 05/14/2012 - 11:43 | Link to Comment Loose Caboose
Loose Caboose's picture

Dave would...... Yuuuuuuuppppp!

Mon, 05/14/2012 - 11:48 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

 

 

The Fire Marshal must've said, "Phuck it.  I quit. If you need me I'll be on Lesbos."

Mon, 05/14/2012 - 11:53 | Link to Comment Global Hunter
Global Hunter's picture

fire marshal?  Oh yea that guy who's pay cheques I cut that kept bouncing a few years ago and then he stopped calling me and harrasing me.  Haven't seen him for years...

signed EU government

Mon, 05/14/2012 - 12:08 | Link to Comment DosZap
DosZap's picture

Was thinking "Storage Wars - Athens"

Be a hell of a place to open up U STORAGE units...................what a potential market.

But, who could pay the monthly fees?

Mon, 05/14/2012 - 15:51 | Link to Comment walküre
walküre's picture

You wanna make some real money on this deal? Open up storage units anywhere but in Greece, just a few miles across the borders in any given direction. That's where the Greeks are taking everything that's not nailed down to the floor.

Mon, 05/14/2012 - 11:23 | Link to Comment walküre
walküre's picture

Germany has first dips.

I guarantee you when Germany takes possession of the Acropolis that temple will be rebuilt in 2 years MAX.

Mon, 05/14/2012 - 11:23 | Link to Comment francis_sawyer
francis_sawyer's picture

'Pump & Dump'

Mon, 05/14/2012 - 11:24 | Link to Comment Jason T
Mon, 05/14/2012 - 11:23 | Link to Comment UncleBubba
Mon, 05/14/2012 - 11:30 | Link to Comment Manthong
Manthong's picture

 "This can't be good"

:D

Mon, 05/14/2012 - 11:53 | Link to Comment James-Morrison
James-Morrison's picture

"You're going to need a bigger boat."

(Or in this case a bigger room,  sounds like a great excuse for additional Greek stimulus:  hire some people,  get them working on that bigger room.  Problem fixed...) 

Mon, 05/14/2012 - 11:25 | Link to Comment Shizzmoney
Shizzmoney's picture

Are you sure this isn't the basement of the Federal Reserve?

Mon, 05/14/2012 - 11:38 | Link to Comment jus_lite_reading
jus_lite_reading's picture

If Greece returns those 3 shopping carts, they will receive at least 3 euros back...

Mon, 05/14/2012 - 12:14 | Link to Comment WillyGroper
WillyGroper's picture

Fort Knox.

Mon, 05/14/2012 - 11:24 | Link to Comment foxenburg
foxenburg's picture

I sincerely hope my taxman's office is in the same shape.

Mon, 05/14/2012 - 13:06 | Link to Comment wisefool
wisefool's picture

This is why we need a Ron Paul/Buddy Roemer ticket. Ron Paul needs to run Foriegn policy like a grown up would (stop the false flags, yankee white sex addicts, MIC creating a culture that will be used on americans) http://www.buddyroemer.com/

But Buddy's solution is better for the economy. The fed/fiat is secondarily responsible for the mess we are in. Many people forget that spain put itself in a depression and war because they brought too much gold back from the new world. Buddy would fix the tax code in that you can't deduct chinese crap from your taxation (as shown in the post's image and referenced in your comment foxenburg). When people see that works, he could go after the rest of the B.S. in the code. Also, CNBC hates Buddy. They tolerate Ron Paul.

Put another way, greece is in trouble because their taxation is fubared, not which potentate is on the money (including Ra,QE, etc).  The USA is in trouble because ...

Mon, 05/14/2012 - 11:26 | Link to Comment midgetrannyporn
midgetrannyporn's picture

half a trillion figments of merkel's imagination. ha ha

Mon, 05/14/2012 - 11:27 | Link to Comment El Oregonian
El Oregonian's picture

"Honey, where did you hide the ROLAIDS...?"

And all the King's horses and all the King's men couldn't put Humpty together again.

Mon, 05/14/2012 - 11:28 | Link to Comment pkea
pkea's picture

that's what happens to the majority of people's money, not only in greece. and then it turns out we don't have funds for education and basic infrustructure but have always enough for the JPM>>

how is zames turning into the jpm's cio different than this picture? where do all our tax money are going? the same pockets all over the world....

Mon, 05/14/2012 - 11:29 | Link to Comment Bring the Gold
Bring the Gold's picture

Right, people act like Greece is something other than a flow-thru valve for money from EU taxpayers to banks. Greece is the AIG (remember how Goldman got its backdoor bailout through them...yeah) of the EU, until its not tenable then you have Spain, Portugal, Italy, Ireland etc...Greece isn't getting the money people! It never was! It's a bailout of the BANKS HELLO McFly!

Mon, 05/14/2012 - 11:56 | Link to Comment Jack Burton
Jack Burton's picture

Yes Bring The Gold, this is what wwe all suspected, that Greece was simply a means to funnel money in and right out to the banks. Noboby in Greece saw a dime, except a few bribed politicians.

This is the stuff revolution are made of. "Head will roll"!

Mon, 05/14/2012 - 12:36 | Link to Comment Bring the Gold
Bring the Gold's picture

My sincerest hope is that the architects of this insanity have their hearts open and start to unwind this all. Humanity does have it in them to live together in harmony. Many on here will scoff but its true. It has to happen from within though. The time has come to make a choice about attention, either we discover the peace within ourselves and watch it flow without, or we continue to think objects "out there" are where happiness lies. If one chooses the latter we will once again watch a high tech repeat of the drama of the past 10,000 years play itself out. Central planning will never give us this harmony, neither will every man for himself. It comes from within or its just more of the same. Much love to everyone and may you find that peace within yourself. You can act rationally (stack etc.) and also find the peace which passeth understanding.

Mon, 05/14/2012 - 15:03 | Link to Comment matrix2012
matrix2012's picture

NOT THE SLIGHTEST!

The Grand Architects won't bother at all, unless they feel threatened by the development.

And perhaps those Overlords are quite aware of all the current events in advance, all of today's "noises" are just part of their grand plans...

Just to refresh, in the past they'd orchestrated the WWI and WWII and many other smaller ones, before the First one and after the Second one!!!

Only God knows what else they may have been planning ahead for the mankind...

Mon, 05/14/2012 - 11:38 | Link to Comment Sauk Leader
Sauk Leader's picture

This is what happens when the garbage collectors go on strike every other week.

Mon, 05/14/2012 - 11:39 | Link to Comment Bring the Gold
Bring the Gold's picture

How dare they strike when they aren't getting paid and/or their wages are being crushed! Btw, I sure hope JPM and Goldman get increased bonuses this year for all their excellent work.

Mon, 05/14/2012 - 13:36 | Link to Comment JB
JB's picture

not to mention inflation destroying the value of what little money they did have...

Mon, 05/14/2012 - 11:25 | Link to Comment SheepDog-One
SheepDog-One's picture

Couple NICE shopping carts in there!

Mon, 05/14/2012 - 16:41 | Link to Comment Chris Jusset
Chris Jusset's picture

Those shopping carts are CHOICE!  We're talking love at first sight ....

 

Does anyone know how I can make a bid on those shopping carts?  (and yes, that includes the contents of the carts)

Mon, 05/14/2012 - 11:25 | Link to Comment MsCreant
MsCreant's picture

This is your finance ministry on trannie porn.

Stop trannie porn now.

Mon, 05/14/2012 - 12:00 | Link to Comment Global Hunter
Global Hunter's picture

Your comment was OK, not bad I'm not sure was good enough for a green arrow but I gave you one to counter act the 3 red ones because it DEFINATELY wasn't worthy of the red one.  haha

Mon, 05/14/2012 - 13:20 | Link to Comment mtomato2
mtomato2's picture

MsCreant (where the hell you been, babe?) ALWAYS gets a greenie from me.

Mon, 05/14/2012 - 14:15 | Link to Comment Jena
Jena's picture

Agree, good to see you back around these parts!

Mon, 05/14/2012 - 14:19 | Link to Comment MsCreant
MsCreant's picture

Hi to both of you. I play in the chat room some but have not had as much time to play in the comments section. Busy with work and the house which is almost built. Glad to see you here too!

Mon, 05/14/2012 - 14:16 | Link to Comment MsCreant
MsCreant's picture

Thanks for your support. I'll go ahead and be a doofus and defend the comment.

The SEC, who is supposed to be watching things is at best fucking around watching trannie porn while the world burns, and at it's worst in on both the take and a conspiracy to bring the whole thing down and guide the world to a single "cashless currency."

The Greek finance ministry, who in my opinion should be running balanced books (though hard to do so if you have a legislative body who votes for dumb things OR masters with boots to be licked), is at best... 

Mon, 05/14/2012 - 12:27 | Link to Comment blunderdog
blunderdog's picture

     Stop trannie porn now.

Don't throw the baby out with the bathwater!

Mon, 05/14/2012 - 16:19 | Link to Comment Papasmurf
Papasmurf's picture

Who do you think makes trannie porn?

Mon, 05/14/2012 - 18:14 | Link to Comment midgetrannyporn
midgetrannyporn's picture

;)

Do NOT follow this link or you will be banned from the site!