Slovakia On Why It Votes "No" To EFSF Expansion: "The Greatest Threat To The Euro Is The Bailout Fund Itself"

Tyler Durden's picture

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Silver Bug's picture

"The greatest threat to the euro is the bailout fund itself."


Completely true, but don't expect the beaurocrats to believe it.

Cynical Sidney's picture

what's mentioned below in my post, is meant as a mocking parody of der spiegel's interview of richard sulik. please see poe's law.

strannick's picture

When you hear the truth told like in that article, it sure makes the half truths and ephemisms of the interviewer sound pathetic.

navy62802's picture

I, too, am glad to finally hear someone in Europe say this. But coming from Slovakia, it doesn't mean much. It's like the scrawny kid who decides to stick up for himself during recess ... then promptly gets the shit beat out of him.

ISEEIT's picture

Exactly. This means jackshit for now. Most likely just bear feed.

SheepDog-One's picture

Or, the straw that breaks the camels back.

kaiserhoff's picture

Let's give Sulik an Hawaiin birth certificate, get him a 2 week gig as a community organizer, some fake ivy league shit, and like, y'know?

BurningFuld's picture

I was going to say Sulik for POTUS.

Western's picture

Sulik is basically the Don Draper of the EU.

Spiegel "Are you not afraid that the markets might go down?", Sulik "Fuck the markets."


Pure Evil's picture

Damn straight.

Obama set the pecedent that a non-natural born citizen can become POTUS.

Who would think that a straight talking, truth telling individual could even make it into politics, whether in Slovakia, or in the country running the greatest ponzi scheme the world have ever known.

So, if we elect Romney will we get Obama's second term, while a Perry win would just be Bush's third term.

Primaries pick the party's Presidential candidate, while the November election picks the President.

So get out and vote during the primaries and choose Sulik's American counter part.

See in the pink's picture

<quote>So get out and vote during the primaries and choose Sulik's American counter part.</quote>

The last time we had someone like that, he was taken out during the last year that most of our coins contained silver. How blatantly fucking transparent...

tarsubil's picture

You know what else. Reagan was shot just 69 days after his first election. Kinda didn't follow his own tune after that.

phyuckyiu's picture

"It's ridiculous how politicians orient themselves based on whether stock prices rise or fall a few percentage points." This guy Sulik is my fucking hero. Yeah I wouldn't be surprised if he got death threats. Notice how as soon as Sulik says, "How am I supposed to explain to people that they are going to have to pay a higher value-added tax (VAT) so that Greeks can get pensions three times as high as the ones in Slovakia?", Maria's tone changes from confrontational to asking for his opinion. She got Pwned.

123dobryden's picture

i am from slovakia, reforms he talked about, were really painful, unemployment jumped over 20pc, costs of bank bailouts were over 3bl of euros.....


the fall of soviet empire was also very unexpected, none believed that someone like Havel, Walensa can in few months or weeks be elected president, no one now knows how this crisis will play out, and thats why a majority of people will be again caught by surprise when theirs savings will evapourate, then someone will definitelly get beaten the shit out of him, and it will not be Sulik, nor Slovakia

eureka's picture

European banks will take haircuts. Maybe not as much as they should, and as Sulik - and all free market believers - want them to - but they will take haircuts.

And Merkozy et al will spit in, one way or another. As it must - EU & EUR will prevail.

Too bad for the US elite, who rigged Europe to fail with weapons of financial mass destruction - i.e. toxic US Wall Street garbage paper stuffed down EU banks..

Next chapter: watch US finance collapse over next 6 months.

As you sow, so you reap. US goes down.

Cynical Sidney's picture

"do you want to go down in European Union history as the man who destroyed the euro?"

YES I DO, that's exactly what i want to be known for going down the history books! I want to be remembered as the man who destroyed greece, spain, italy, portugal, ireland uk france belgium! I am the harbinger of debt war, I will deliver wholesale debt default across the continent! put your faith in me and you will never be afraid of banksters again!

Zero_Sum's picture

Yeah, that was quite a combative tone for Spiegel to take at the beginning of the interview. Then there was the accusation of Nationalism, which is the European equivalent of Democrats implying that all Republicans are racist. I thought Sulik acquitted himself quite well. I wish more American politicians would stick to their convictions like this when actually in power, rather than only when running for office.

Thomas's picture

Ambush journalism at its finest.

Lord Koos's picture

No, it's actually the way journalists are supposed to work -- they are supposed to ask tough questions.  The problem is that they don't ask them equally of everyone.

HoofHearted's picture

What surprises me is that Germany seems to have lost all its Austrian economic ideas. I have a degree in economics from one of the top German universities. I learned a whole lot of Austrian values there. Keynes was taught...with derision. And it wasn't all that long ago that I earned that degree....

Obviously, Merkel and Der Spiegel have changed.

reload's picture

Money printing eventually corrupts almost everything.

We need some zero hedge "Sulik" merchandise. The man is a heroic truth speaker, despite the viscious smear campaign doubtlessly just about to kick off.

Pinto Currency's picture



That article was one of the best articles by der Spiegel to date as it showed that publication for what it was.


Best use for der Spiegel is under a beagle.

Bring the Gold's picture

Your point is somewhat valid as we surely don't see equal questioning of bankers, but those weren't tough questions they were designed to shape the thinking of the reader. They put him in a harsh light. It wasn't a challenging question, it was psychologically directed propaganda.

That's not good journalism, it is akin to journalists this past summer asking Tea Partiers why they hated America by not raising the debt ceiling, or the same of war protestors against the Iraq invasion circa 2003 "Making America vulnerable to terrorists".

It's not a tough question, it is pure propaganda intended to skew the viewpoint of the reader, not to get the interviewee to dig deeper for an answer.

Xaqaria's picture

A good Journalist knows how to play the devil's advocate to pull the truth out of someone. No one answers more vehemently than someone who is defending their principles, and no one shows their true colors more clearly than someone who is put on the spot. I think the journalist asked the right questions that allowed Sulik to produce the right answers.

Cynical Sidney's picture

i thought it's hilarious that spiegel accuse this one politician in the slovakian opposition of bringing down the euro. isn't it convenient that spiegel fails to mention, germany's trade benefit tremendously from using the same currency as much weaker countries, german exports are cheaper and go further in the international trade, they get to buy more imports. then they come to slovakia, the country with the second lowest gdp per capita in the eu, and expect slovakians to bail out greece which have a much higher gdp per capita. disingenuous and disgraceful indeed.


defencev's picture

Sulik, Shmulik who cares? Only idiots can believe that insignificant politcian in Slovakia may change anything. Just sheer nonsense.

macholatte's picture

Yes. The comments and questions asked by the interviewer are quite revealing.  They tell me the story of how the propaganda machine is brainwashing the sheeple (including the MSM Sheeple). However, I cannot fault the interviewer for parroting what has been flooding the media for many, many weeks. I can, however, extend a Hat Tip to Mr. Sulik for his cool and logical approach to the emotional situation. I wish him success.



Nearly all men can stand adversity, but if you want to test a man's character, give him power.
Abraham Lincoln


macholatte's picture

and one more thing...... Good Job, Tyler.

Many more thousands of people will read that interview now.

Manthong's picture

"It's a good project. Everyone involved can benefit from it -- but only if they stick to the ground rules."

If just a few more important politicians in the US took that position about the American Experiment and the Constitution, we might not have to be totally flushed down the tubes of history that we are sluicing down now.

TheFourthStooge-ing's picture

"It's a good project. Everyone involved can benefit from it -- but only if they stick to the ground rules."

If just a few more important politicians in the US took that position about the American Experiment and the Constitution, we might not have to be totally flushed down the tubes of history that we are sluicing down now.

Absolutely agreed. Fortunately for Sulik, he lives in Slovakia, a nation with a multi-party political system. He'd never make it to a position of influence in a single-party system like the United States.

What Sulik has done in this interview is far more interesting and significant than is readily apparent. In most nations, politics at the national level has attained two Nash equilibria: one with truthfulness and the other with TBTF finance.

Politicians of all parties know that the truth is dangerous and so the unwritten rule is to avoid it if at all possible. At best, they can accommodate a truth from a parallel universe Earth if forced to do so. The tacit agreement is that the game is played by hurling well rehearsed cartoon-like talking points about wedge issues at each other.

They also know that elections are bought, not won. The TBTF financiers control big media, big advertising, and big public relations via multiple redundant backchannel money conduits. When it comes to financial shenanigans at the TBTF level, politicians prefer to ignore it, minimize it, and/or blame the victims. In a worst case scenario, they will pass hollow legislation like Frank-Dodd and then, with a wink and a nod to Wall Street and/or the City of London, trumpet it as significant reform.

Sulik must have expected this line of questioning because his answers were rational and precise. He spoke the unspeakable truth when he said that going broke as a result of poor decisions is a consequence of the market economy. He also named those who must not be named when he pointed out that the beneficiaries of the bailouts are the TBTF banks.

If Sulik succeeds with the radical strategy of telling the truth and naming names, the Nash equilibria mentioned above could easily fall apart. In their place would be a Prisoner's Dilemma where the greatest political advantage would go to those who are first to admit to mistakes and embrace the truth.



lewy14's picture

This interview would be amazing as an xtranormal cartoon.

CrazyCooter's picture

Excellent idea!



ISEEIT's picture

As the EURO RIPS. I'm tired off this bullshit.

GeneMarchbanks's picture

Who woulda thunk Slovakia so sober?

Bob's picture

That was a breathtaking exhibition of sanity, I thought.  What a shock! 

bartek's picture

We should breed people like that. Let's get him to impregnate a few hundred women around the world so that we can spread around some good genes.

CharlieSDT's picture

Slovakia is a good place for that.  I remember several years ago on my first trip to eastern Europe I was just astounded at the number of smoking hot chicks walking the street in Bratislava.  Eastern Europe is really where it's at in that regard.

Randall Cabot's picture

Plenty of hot Slovak chicks around Wilkes-Barre, Pa-still have some Arthur Treacher's Fish and Chips joints there too!

LooseLee's picture

Most women, the world over, are not interested in good genes or intellignce, but some pretty boy who has a lot of income or popularity (e.g. one long line of bullshit). Those rare women who think otherwise are few and far between.

reader2010's picture

every one of them is a whore basically.

Bring the Gold's picture

I'm shocked by your sexism given your feminist avatar. It is a pro-breast feeding pic right? Right?! Riiiiiiiiight.

cnsteph's picture

Speak for yourself.  I chose well.    Geeks/Nerds rule.

SilverTech's picture

Hohoho. Here's a guy who hasn't gotten any action for a long time. If all the women are rejecting you, maybe it's you.

Adrian Cronauer: "You are in more dire need of a blowjob than any white man in history."


SilverTech's picture

Hohoho. Here's a guy who hasn't gotten any action for a long time. If all the women are rejecting you, maybe it's you.

Adrian Cronauer: "You are in more dire need of a blowjob than any white man in history."


dark pools of soros's picture

does that country have an invisibility cloak??  how come they haven't been suicided, attacked by 'rebels', bribed, drugged, blackmailed or framed for sex crimes???