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New Democracy Unable To Form Government, Anti-Bailout Parties Now Get Opportunity To Eject Greece From Euro
Well, that lasted far less than the three days expected:
- SAMARAS SAYS WAS UNABLE TO FORM GOVERNMENT
- SAMARAS SAYS DID ALL POSSIBLE TO FORM GOVERNMENT
- SAMARAS HANDS BACK MANDATE TO PRESIDENT PAPOULIAS
- SAMARAS SAYS AIM TO KEEP GREECE IN EURO
And now the broad-left coalition Syriza gets the mandate to form a coalition government. If successful, and with nearly 60% of the parties in parliament being anti-bailout it would not take much for differences to be resolved, all bets are off as the anti-bailout powers will finally gain control of Greece, effectively ending European control over Greece. Alternatively, if nothing is achieved, then it is very likely that Greece will have another election within 3-4 weeks. And then another. And then another.
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CNBC is spinning this as bullish.
Heard that shit....one country ejected is bullish...2,3 or 4 will spark parabola
Greece has no money in the bank and relies on the EU to provide day to day financing of all government employees plus pensions.
What will happen when that funding is cut off? The Greece government will be unable to operate and the whole thing will collapse. Lemmings.
It's the Greek peoples' best chance at living as something other than debt slaves, so while it may suck in the short term, in the long run it's better than remaining under the banksters' boots.
If that's true then that must mean there are "boots on the ground," i.e. Men In Black running around and the bribes are flowin'.
Because escape from debt slavery is
just
not
allowed.
Oh it's far from a done deal. Expect the other party leaders to wake up to the Greek version of severed horseheads on the pillow next to them. The bankers know how to drive a hard bargain.
Waking up next to a live abby cohen would be scarier imo.
The emperor returns:
http://www.irishtimes.com/newspaper/breaking/2012/0507/breaking4.html
Mr. Putin then proceeded to his private restroom where he used that copy of the constitution to wipe...
Listening to Putin talk about protecting freedom and the nation's constitution would almost be as absurd as hearing Obama talk about protecting freedom and the nation's constitution...
oh wait...
Mr. Obama ........ There fixed it for ya....
^
Putin is not Gorbachov. He is just a pathological thief and assassin with nowhere to run.
As many time before, Russia and China will change the history. Greece, Ireland, and Portugal are just pawns. Remember, Iceland has changed nothing.
In Greek version that would be goat heads. But I do expect some nice offers that nobody can refuse.
Iceland proves you wrong Seize Mars.
Greece will print its own currency, pay its employees, wipe out all debt and start over. Reduce public workers by freezing hiring, increase the retirement to 62-65 incrementally, and by exporting agri products and tourism will grow again. Let's not forget that Greece has one of the largest shipping fleets in the world by tonnage.
http://propaganda-dimitrios.blogspot.com/2011/01/greece-has-bigest-merchant-marine-fleet.html
After all these months, how can ZH still not understand.
Greece pulling out of the euro and printing drachmas and saying to the IMF and ECB, the holders of its remaining debt, "go to hell"
ACCOMPLISHES NOTHING.
The ECB and IMF can ignore their statement and carry the debt and compound it. Forever.
They can't escape it by saying "we aren't paying". That doesn't work. They owe the money and they will pay or it will be collected by confiscating goods they might ever export. The EU could put a special tax on any oil allowed into Greece. There are many things that can be done to collect the debt.
They can't just walk in front of a microphone and declare that they default and think that the debtors have to accept that.
There is no EU charter mechanism for leaving the Euro or the EU. Either voluntarily or involuntarily. The debt they owe is in Euros. They can't print drachmas and pay it because the debtors will refuse that and demand payment in Euros.
None of this is going to work. This is all posturing.
Didn't Iceland do just that?
No. Iceland did not default on it's Sovereign debts.
Lead is heavier than paper.
Oil? What the fuck would Greece use to pay for oil? Seriously doubt the oil producing countries would accept the toilet paper drachma.
"The EU could put a special tax on any oil allowed into Greece."
Iran will be delighted and Israel will be screwed. Greece, let go for it!
If they can't form a coalition government, then there is no givernment. Odius debt comes to mind...it is international law...
Export agri?
The Greeks can't farm enough to feed themselves.
AccreditedEye: I'm not sure. When I look at Iceland, I see a country that has fiat money, whose rate is pegged to the Loonie, which in turn has the USD as its reserve currency. So American inflation is exported to Iceland. No escaping it - Iceland, though brave to decline the usual IMF-ing, is still stuck in the tar pit. They will have inflation, and the first principal component of it will be from the Bernank.
Jekyll Island wins again.
Which is probably why nobody talks about Iceland anymore.
I'm waiting for the "28 Days Later" scenario for that island to be launched.
You might want to read the Iceland wiki.
Iceland was an FDIC-style guarantor of deposits. Not a borrower of money. They reached agreement with the creditors and paid portions of money.
They didn't default and walk away. They walked two steps away and then came back to the table and worked out deals that required them to pay significant money.
But the key point was this was not money owed from run up deficits. It was depositor money that disappeared when banks folded. Significantly different thing.
It is unrealistic to expect a "People" to form anythign close to balanced self-rule after this century of madness.
ochlocracy, the worst of all possible out-comes. Democracy is a close second.
In-dependence, FTW!
ori
/the-year-the-time-and-the-place-of-our-dam-ming/
Ochlocracy is the degenerate form of democracy. Worked in the polis in Antiquity times in regards to a very specific peoples: the Greeks.
You mean to tell me the same concept can't be applied to the 10+ million metro populations world-wide thousands of years later?
Learned it from you Gene. So Grazzi and yes, exactly, that is what I'm telling you. ;-)
ori
BTW, I got some Greek sayings that are less clever but more wise than the Romans:
https://en.wikipedia.org/wiki/List_of_Greek_phrases
this is true
but i have tried to also point out, throughout, that it doesn't matter what the "form" of goobermint is here, in a way: it is the COST of the governance that is primarily fuking this up, imo
so: the form is negotiable, in many ways, but the functions of the governance and the amount of resources devoted to governance seem to me to be the key issues, guys
if you need clever and wise sayings about this, please check my prior posts on the subject, ok?
Darn straight! Just look at Iceland: it told the banksters to f*ck off and is doing very nicely thank you. It's amazing what a nation can do without a gaggle of Energy Vampires sucking its vitality out through its jugular.
Imagine what America would have been capable of, what we and the world would be today, had the Money Power not transformed it into a fiefdom of the undead?
Imagine the world without Them, it's where it all starts
zaphod
Um maybe not. It's all perception.
Pre European Union Greece operated, maybe all smoke and mirrors, but it ran.
Then when the ugly truth seemed to be revealed, shit fell apart starvation, parents abandoning their children.
Why not return to a Pre European state? It may run on illusion, but frankly all currency is run on illusion.
It isn't like debt is paid with real currency, it's all numbers on some server.
The whole debt scam is based on the perecption of owing something physical for something illusory. A cow for magic beans, European magic carpet ride.
Isn't that what Iceland did? A nation of Amazing Randi's stood up and said fuck off to the weak trickery of financiers.
They can survive in that climate without heat and AC.. plenty of fish in the sea… its growing season.. do what you need to keep the tourists coming and the bare essentials going.. cut the government to the bone.
It would be well worth the pain to be free of the banks
If they do it right, they can be the envy of the South.. anything less and it will be nothing but crap there.
They will have to learn agaon to get up in the morning and work in the fields. The days of buying cheap Dutch tomatos wit hard Euros are gone!
"plenty of fish in the sea…"
No, there aren't. The Mediterranean around Greece is long fished out.
I was there not so long ago and any decent fish was imported and 50 euro per kilo.
From everything I've read on the subject, the bailout money is not going to the Greek pensioners. Almost all of it is going to bondholders and banks. The ECB has convinced the Lemmings that they need to take on more debt to save themselves, but they have been taking on more debt to save the banks.
That's the purpose of socialism.
Funny how the idiots believe it is intended to help "the little people".
That's the purpose of facsism and/or feudalism. According to Webster's, Socialism is: "any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods, or 2 a: a system of society or group living in which there is no private property b: a system or condition of society in which the means of production are owned and controlled by the state."
Feudalism is: "the system of political organization prevailing in Europe from the 9th to about the 15th centuries having as its basis the relation of lord to vassal with all land held in fee and as chief characteristics homage, the service of tenants under arms and in court, wardship, and forfeiture."
We are heading from facsism to feudalism.
Stop confusing with your clear definitions, the socialism forced them to their bunkers.
Cultural Dictionary
fascism [( fash -iz-uhm)]
A system of government that flourished in Europe from the 1920s to the end of World War II. Germany under Adolf Hitler, Italy under Mussolini, and Spain under Franco were all fascist states. As a rule, fascist governments are dominated by a dictator, who usually possesses a magnetic personality, wears a showy uniform, and rallies his followers by mass parades; appeals to strident nationalism; and promotes suspicion or hatred of both foreigners and “impure” people within his own nation, such as the Jews in Germany. Although both communism and fascism are forms of totalitarianism, fascism does not demand state ownership of the means of production, nor is fascism committed to the achievement of economic equality. In theory, communism opposes the identification of government with a single charismatic leader (the “ cult of personality”), which is the cornerstone of fascism. Whereas communists are considered left-wing, fascists are usually described as right-wing.
Note : Today, the term fascist is used loosely to refer to military dictatorships, as well as governments or individuals that profess racism and that act in an arbitrary, high-handed manner {see Obama}
Is it similar to UrbanDictionary.com?
Everything done IN THE NAME of socialism,IS NOT socialism
@ LetThemEatRand,
Absolutely! The French got duped, just like the Americans. You think Sarkozy was bad? Just wait until this guy is in full control.
The NWO wants global Fascism.
Resist or become the NWO.
Americans are not allowed to challenge the two-party duopoly/false Right/Left Paradigm.
Romney/Obamney is really no change in the NWO order agenda, as well. Look at the folks Romney has surrounded himself with. Same old games from both political parties in this country.
So essentially, socialism is the same thing dressed up in BS marxist terminology.
The Fatherland- Socialist/Nazi German
The Motherland - Communist Russia
The Homeland (USA)? – An Unspeakable Bastard crossbreed of the two above!
Because Greece has no euros, they will start using local or a national currency locally. That way, Greeks can buy bread and pay for electricity, and they can begin to pay back the Euro. A first period of payments would be devastating to their economy; however, how long do you think the Euro - with it's current purchasing power - will last after that? I think the chances are favorable to Greece that the exchange rate over time will work in their favor. That is, if they do not plunge into violent civil war.
Using 2 currencies will directly lead to hyperinflation for the local currency . The local currency wont be accepted by anyone and everyone will be asking for euros.
Zaphond,
Drachmas.
Greece leaves the Euro and prints its' own currency.
Not only Drachmas, but barter. In this emerging paradigm, they can conduct international barter for energy. Because a national currency requires the good will (trust) of the people, the central government must win that first. Greece's government has been unable to collect taxes for decades, so I believe it will be many local currencies before the success of any "neo-drachma." Whatever it is, it will be used because it works, not because it has been mandated.
I keep suggesting to my relatives Greece that when they start printing their own monday again that the call it the SKATA. If you're money is going to b pretty multicolored crap you might as well br honest about it.
PS - I'm hoping the the US dollar gets replaced by the GUANO but that may take a while.
Ok, I am going to give you the benefit of the doubt. Are you new here? Drachma anyone?
Greece has drachmas in the bank, so can be self reliant in providing day to day financing of all government employees plus pensions.
What will happen when their funding is cut off? Their foreign debtors won't get paid via the Greek escrow account and nothing will collapse. Lemming.
Plus they've got all the new found gas fields in the Aegean and they can re-nationalise the gold mine that was fire sold to Qatar amongst other things.plus value hunting tourists (non german) to provide foreign clown bux.
I kinda agree, although keep in mind that the greek central bank is privately owned, and all (even foreign) the shareholders have full voting rights. This means they maybe could sabotage any drachma move.. oh and another thing : nobody knows who the shareholders are, or the true economic state of the bank because they have the right to not disclose some info , and to not be controlled by anyone...
In that case, come the glorious revolution then the central bank will be first against the wall. (figuratively perhaps)
Did they get there hands on all of Greece's gold yet? If they did leave the euro how would they create a new monetary system without gold to back it?
They wI'll do what all countries do - create fiat currency which is nothing more than an expression in the people faith in their elites.
5.55pm Greece might run out of cash by end-June if it does not have a government in place to negotiate a next aid tranche with the EU and the IMF and projected state revenues fall short, three finance ministry officials told Reuters on Monday. "If there is no government to negotiate the next tranche with the (EU/IMF/ECB) troika and if the state does not get the projected monthly cash flow, then we could have a liquidity problem from the end of June onwards," one of the officials said.
source: www.athensnews.gr
Here w go again, my my...
hmmmm ... one country ejected will cause mega-capital flight from several others, along with probably a number of broke banks.
Your comment implies that there actually is capital to take flight. I am not so sure there is any real capital.
But it is bullish although cnbc was broadcasting it..
Bullish for precious metals...
Why is a smart bloke like you watching CNBC? It is pure excrement (imho). Get the truth from ZH.
the question is whether Hollande will break the ECB and germans back on eurobonds. i don't think so as much as the rest of the world hopes.... get ready for the fall show in october... popcorn anyone
D E F A U L T !!!! Throw off your chains....
This and more over at my blog:
http://jmcaule-whatimlookingatrightnow.blogspot.ca/
No kidding, they are spinning this as good and nothing to see over here. Once greece goes, it will take everyone else.
This shocking, no one saw it coming! sarc//
Dogs and cats living together - mass hysteria!
Yup. Found Zuul in my fridge just this morning. Gozer is coming - but who you gonna call?
OT: I'm so sick of Warren Buffett's intellectually dishonest position on gold, and his cherry picking time line of BRK stock and gold performance.
this is great news for a gold investor. the day buffett gets on cnbc and says gold is a great investment i will sell all my holdings. the oracle is no longer a contrarian, just a lap dog licking up the piss of his masters
He still has to face daddy in the ntdf.
I hate how Bloomberg and the other TV meat puppets kiss Buffet's ass! Everyone holds him up as a great investor, but the truth is this - Buffet makes money in a way no normal investor ever could. Buffet makes money by being a Vulture Investor who swoops in when a company is in trouble and needs a huge investment. If I went to GE and asked for preferred stock with 10% dividend plus warrants attached they would tell me to go fuck off.
He makes money not on his stock picking accumen, but instead makes it by being large enough to ask for concessions that no investor could get. That does not mean he is a smart investor - it just means he is big enough to either save a company or wait for another sucker to come along.
Fuck Buffet!
Fine, let the greeks take care of the greeks. Does anyone really care anymore, possession is already the law. This isn't the end, it never is.
Were they able to stop the armored cars from removing the gold?
So Jim O’Neill is gonna say this is BULLISH...right??? After all, they only have an UNKNOWN amount $$$ on loan to them....so I guess we can take his word for it?
Isn't this a scene from a Mel Brooks movie?
A Nazi and a Communist try and form a gvt....
don't use the schwartz.
Form a government now and end the euro bullshit.
Merkel was on the BBC this morning still trying to tell Greece what it should do... lol
" Greece will have another election within 3-4 weeks. And then another. And then another."
Long Diebold!
If nothing else then understand that a Greek election is conducted fairly and properly.
The United States is home of the corrupt and falsifiable election system, aka "Diebold" to you.
I don't think any of the big three can form a government. Syriza does not want anything to do with the extremists and hence cannot form a majority government. I think Syriza will take all 3 days though, due the fact they also check the minority government possibilities. Then ball is passed to Venizelos, who will toss it immediately back to Pres. and new elections at 10. of June (or 16.).
see my post above, we get there and we are in trouble since greece needs to make next installment on bond payments
ha ha no PSI lined up for the PSI.
Tell President Poopooless? Tell President Poopooless what? Poopoo more?
SWEET! DO IT ALREADY!
Pasok gets the mandate first...
why's that then?
no, it doesnt
PASOK came third.
Fuck'em all and let's just get on with it!
EXIT THE EURO GREEKS OR FOREVER OBEY YOUR MASTERS
EU troops to invade Greece/coup d'état in 3...2...1...
No way the banksters take that laying down.
You haven't given the bankers enough time to buy the new politicians.
Dow 13,000 crossed again!
NCIS (tv show) features whitey as terrorist and mentions to gitmo without trial. Banksters Attack America now on a TV near your kitchen.
Bring back King Constantine II, long live the King.
Unfortuntely for the greeks, it will devolve into a :"WE want to control the central bank that prints worthless drachmas" as opposed to:"we are forced to accept worthless euros printed by a central bank we dont control". So maybe it's a small improvement but no big change...Unless they include gold back in the equation...
that is how all mercantile economies accumulate doolars and Youro, by having weak currencies.
It seems Samaras is doing exactly what he promised during his campaign: forcing new elections if he does not get absolute majority. Apparently he is betting that the Greeks were merely using this election as a one-time chance to voice their frustration and that at the 2nd attempt, they will vote more 'rationally' to produce the 'desired' outcome. This is how EZ works: vote as many times as necessary in order to get the result you want beforehand.
Was wondering why the stock market was going up...
Who would have thought that the end of the euro would be bullish for the euro?
The worse the prognosis, the sooner it gets bailed out by Benron's magic swap lines, again.
Or maybe... this time they can provoke the ECB into action. I noticed Hollande's platform had "direct ECB lending to governments" as a goal.
Just curious ... are those 112 Tons of Gold still in Greece ?
Crazy ... with all those Paper Billions and Paper Trillions floating around ... and 112 Tons of Gold only priced at EUR 5 Bio. ?
No1 can know except the private owners of the greek central bank..............
Bullishh for Drachmas!
Merkel busy campaigning just outside my hotel right now ... trying to avoid the fate of the others?
Three days? lol in Belgium we just get started then, after one year we're happy if there's a government.
I wanna go for a cheap holiday, price tag in drachma
I'm getting impatient with all of this ... wish the Greeks would just tell the troika to go to hell and be done with it.
So the euro can't survive if any one country pulls out.
France elects an anti - austerity, print monkey for president. ( print you fuckers )
Greece forming anti - bailout govt. ( we don't want your fucking handouts! )
After Chicago, Hollande goes to Germany and tells Angie she needs to print. ( you will print bitch. Got it? )
Spain requires another 2, 3, 400B euro's, like, yesterday. ( WTF?? have you forgot about us? )
Italy waiting to see how much Spain gets. ( were not fucking this up again. )
So, all in all, the Euro looks solid as a rock...
If the euro can go up when it dies, can I buy stocks in a company that collapsed. I may make a fortune that way.
Sure, all you have to do is start a bank and get a bailout.
theres no way i been watching cnbc all day bc if it was true i would have heard it on the radio nigga it'd be all over the radio in a darwinian free market w a free press. I have to trough to some backwater blog after learning at some point the difference between a call and a put and perhaps at some point trying to manage a position or god forbid a portfolio in todays irrational insolvent algo driven market
Today, the euro is stronger than gold, stronger than it was yesterday.
In other news:
Italians reject Monti's austerity in local vote
(Reuters) - A maverick comic who wants Italy to quit the euro made big gains in local elections on Monday while former Prime Minister Silvio Berlusconi's party lost heavily as voters joined a wave of anti-austerity anger across Europe and punished incumbent parties.
http://www.reuters.com/article/2012/05/07/us-italy-vote-idUSBRE8460SM201...
Greece isn't going to leave the euro; they would have an immediate hyperinflation, bank run, and depression.
Even if the government was stupid enough to try it (they aren't), Greeks could would scramble to hold physical euros.
Ok so instead of having this tomorrow, they'll have it in some years with the currency being euro... so what
Re-elections it is.
There is no way this borad-left coalition guy of Syriza can form a government, since the number of places in the parliament needed to form a government cannot be reached, since he didn't find out a solution with Samaras.
In simple words, numbers do not sum up to at least 150 places needed to form a government, for all possible combinations of coalitions.
Then: voting again ...
The UN has been looking for an excuse for a regime change in Syriza for months, but the Russians and Chinese are none too keen
;¬)
Reminds me of the day I ran over the bunny. It was flopping all over the road and wouldn't stop. I had to pick up a big rock and smash it until it stopped wriggling.
If there is a repeat election next monh, it will be meltdown redux for the two ex-big parties.
The mood is ugly,the totems are trampled over and the peasants are ready for more.
Get ready for the sequel...
Next election will be mysteriously won by the GoldmanSakos party...................
you da man, tyler!
Greece could be the next "Icelandic Success Story."
And I feel that these pissed off Greeks won't be as nice to the bankers as Iceland was.
DEATH TO THE EU!!!
The more failure by the global elite the better. And save me the conspiracy bullshit they did this on purpose, this is an outright failure of a bunch of bullshit ideas coming from complete fucking idiots with too much $.
Only problem is these elitest cum belching whores still have too much $ and their stupid fucking ideas will just manifest elsewhere.
They need to have their fucking heads cut off is what they need.
Come on Greece, pull an Iceland!
We're all Icelanders now. It's just a matter of time; Banksters beware!
Greece
should just issue their own currency, drachma, without any debt attached to central bankers and then collect interest on the loans they make to their PEOPLE to use the proceeds of the interest to recycle back in to their own economy. That would really stick it to the bankers.
Forgiving the debt is possible, some third world countries have. But I imagine they would have to be real nice and it would take a long time,
This and more over at my blog:
http://jmcaule-whatimlookingatrightnow.blogspot.ca/