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Slovenian Government Collapses After Confidence Vote Loss; EFSF Ratification To Be Delayed Until 2012

Tyler Durden's picture




 

As expected earlier, the next domino in the European contagion cascade, has just tumbled after the local government has collapsed following loss of parliamentary confidence vote.

  • SLOVENIAN GOVT LOSES PARLIAMENTARY CONFIDENCE VOTE - BBG

This means that the pan-European EFSF vote, originally scheduled to be completed by the end of this month, will likely be delayed until 2012 which means at least 4 more months of SMP bond purchases and more anger at direct ECB monetization of Peripheral debt.

 

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Tue, 09/20/2011 - 12:04 | 1689040 RSloane
RSloane's picture

I was very very wrong in the other thread. My bad.

Tue, 09/20/2011 - 12:08 | 1689056 MillionDollarBonus_
MillionDollarBonus_'s picture

This is what happens when a country gives its people referendums. I hope it's now perfectly obvious to all observers that referendums are a FAILED policy.

Tue, 09/20/2011 - 12:10 | 1689064 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

agree, democracy is just mob rule - why should I be governed by what joe 6 pack thinks??

Tue, 09/20/2011 - 12:16 | 1689100 MillionDollarBonus_
MillionDollarBonus_'s picture

Democracy is fine as long as the elected leaders are left for a good number of years to run the country on their own. Professional politicians are specialists at what they do, and should not have to address the endless tantrums of uneducated voters while they are trying to do their jobs.

Tue, 09/20/2011 - 12:21 | 1689123 SilverRhino
SilverRhino's picture

Wow, thanks for that breathtaking display of idiocy and naivety. 

Do their jobs?  Their fucking jobs are to keep getting elected.   You want real reform?  TERM LIMITS.   One term, 4 years any office. 

Tue, 09/20/2011 - 12:29 | 1689154 RemiG2010
RemiG2010's picture

So after this breathtaking exchange , let's all sing together ...   http://www.youtube.com/watch?v=NmRXH7RkCZQ

 

Tue, 09/20/2011 - 12:28 | 1689157 papaswamp
papaswamp's picture

Yea it's hard work running up those massive debts.

Tue, 09/20/2011 - 12:38 | 1689203 Lord Welligton
Lord Welligton's picture

You're getting good at this Hamy.

Tue, 09/20/2011 - 13:14 | 1689350 Panafrican Funk...
Panafrican Funktron Robot's picture

Yeah, countries that frequently participate in direct democracy are abject failures.  Like Sweden, for example.  Oh, wait.

Wed, 09/21/2011 - 06:44 | 1691574 matrix2012
matrix2012's picture

YES, let the DEMOCRACY screws the people till them flat like what happens in DC, it has been setting up very good example for the European govts and the rest of the world...in the name of the DEMOCRAZY, people are sacrificed and victimized!!

I love the ideas esp when the victims are yet aware like the frog put in slowly boiling water :D

Tue, 09/20/2011 - 12:53 | 1689263 Nothing To See Here
Nothing To See Here's picture

"The conception that government should be guided by majority opinion makes sense only if that opinion is independent of government. The ideal of democracy rests on the belief that the view which will direct government emerges from an independent and spontaneous process. It requires, therefore, the existence of a large sphere independent of majority control in which the opinions of the individuals are formed."

- F.A. Hayek

Tue, 09/20/2011 - 12:11 | 1689070 Gandalf6900
Gandalf6900's picture

I only hope you are sarcastic

Tue, 09/20/2011 - 12:13 | 1689084 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

I'm serious - why should my life be affected by whatever lollipops the politicos are waving in front of brain dead voters??

Tue, 09/20/2011 - 12:56 | 1689272 LoneCapitalist
LoneCapitalist's picture

Maybe if you pay attention, you wont be so braindead.

Tue, 09/20/2011 - 16:10 | 1689971 Pure Evil
Pure Evil's picture

The real problem that I see is that the lollypop being waved in front of you ain't as big as the lollypop being waved in front of your neighbors.

I think you have lollypop jealousy.

Tue, 09/20/2011 - 12:04 | 1689041 Manthong
Manthong's picture

Archduke Ferdinand?

Tue, 09/20/2011 - 14:33 | 1689608 CH1
CH1's picture

Well, you'd have to be on the ground there to have a real idea of what it means. But... maybe.

Tue, 09/20/2011 - 15:40 | 1689843 bankruptcylawyer
bankruptcylawyer's picture

funny you mention him, i'm still predicting that at some point a disgruntled young man is going to publicly murder a top european financial official. i'd put the odds of this happening within 3 years at 35%. 

 

it just seems to me there are too many riots and too much anger for someone at some point to get the nerve to do it, because it's a fact that there are many young european men thinking about doing this. the prediction is when does someone get the opportunity, means, and the desire to turn their desires into action. 

 

Tue, 09/20/2011 - 16:14 | 1689984 Pure Evil
Pure Evil's picture

The Europeans no longer have the standing armies they use to have to make this scenario worth worrying about.

Even with NATO, the US has the biggest military presense on the EU continent.

And, even if a top European financial official was murdered, their would probably be celebrations in the streets instead of the next world war.

Tue, 09/20/2011 - 12:05 | 1689042 Drag Racer
Drag Racer's picture

can you say 'Kansas City Shuffle'?

Tue, 09/20/2011 - 12:07 | 1689052 jdelano
jdelano's picture

Comments posted by HFT bot in advance on behalf of the ZH users that will be arriving here momentarily:

 

--Nothing to see here.

--Move along, Bitchez.

--What's the definition of insanity again?

Tue, 09/20/2011 - 12:12 | 1689075 scatterbrains
scatterbrains's picture

you feeling any tingling sensation anywhere ?  just curious not asking for any particular reason.

Tue, 09/20/2011 - 12:15 | 1689092 jdelano
jdelano's picture

lol.  but so you know--you've got the clap now.  

Tue, 09/20/2011 - 12:15 | 1689096 X.inf.capt
X.inf.capt's picture

yep.

Tue, 09/20/2011 - 12:12 | 1689077 Gandalf6900
Gandalf6900's picture

implosion in 3...2...1

Tue, 09/20/2011 - 12:08 | 1689054 LawsofPhysics
LawsofPhysics's picture

I love it.  Since we can't kick the can, we are simply going to ignore it.

Tue, 09/20/2011 - 12:09 | 1689060 Larry Darrell
Larry Darrell's picture

Stocks will ramp into this news.  Since the EURO can't move "forward," Ben will be forced to print in their absence.  Dollar destruction moves full retard.

Tue, 09/20/2011 - 12:09 | 1689059 Robslob
Robslob's picture

This is BULLISH!

Tue, 09/20/2011 - 14:34 | 1689609 CH1
CH1's picture

Totally!

Tue, 09/20/2011 - 12:10 | 1689065 Coldfire
Coldfire's picture

Thus began the winter of our discontent.

Tue, 09/20/2011 - 12:11 | 1689067 Irish66
Irish66's picture

Did the denial hit yet?

Tue, 09/20/2011 - 12:12 | 1689073 theMAXILOPEZpsycho
theMAXILOPEZpsycho's picture

Slovenia has some of the hottest chicks in the world...if anyone's thinking of opening a brothel with bullion profits (as I am) this could be just the country to watch...

Tue, 09/20/2011 - 12:14 | 1689085 Gandalf6900
Gandalf6900's picture

wait a minute, wait a minute, you might be onto something here...sold!!!

Tue, 09/20/2011 - 12:18 | 1689113 X.inf.capt
X.inf.capt's picture

do they have redheads overthere,

LOL

Tue, 09/20/2011 - 12:42 | 1689223 jekyll island
jekyll island's picture

Probably, but I mainly saw rich black hair and Kardashian like complexions.  Even in Kosovo, where the Albanians outnumbered the Serbs 9:1 it was stunning the amount of beautiful women you would see.  I can only imagine what Slovenia contains.  

Tue, 09/20/2011 - 12:53 | 1689264 Herman Strandsc...
Herman Strandschnecke's picture

My first imageination is of ladies dribbling.

Tue, 09/20/2011 - 12:38 | 1689202 jekyll island
jekyll island's picture

I agree, I saw hundreds of beautiful women when I was deployed to Kosovo courtesy of Uncle Sugar.  One personal observation though, take some extra bullion to pay for dental work.  It was all good until the girls would smile, and you could see the cavities and poor dental hygiene.  I just want you to be successful in your business venture, that's all.  

Tue, 09/20/2011 - 12:59 | 1689285 Picaferaj
Picaferaj's picture

Dude, you were in Kosovo - do you understand yourself what you're saying? Albanian chicks are not the same as Slovenian chicks. No need for dental work there. Just some bitch slapping.

Wed, 09/21/2011 - 17:00 | 1694453 jekyll island
jekyll island's picture

Read my earlier post.  Albanians outnumber Serbs 10:1 but Serbs were 10x more beautiful.  Didn't waste any time looking at the Albanian women, all the Serbian women had half their teeth falling out.  Damn, that is one place that could use some fluoride treatments.  

Tue, 09/20/2011 - 12:56 | 1689271 Picaferaj
Picaferaj's picture

That's true.

Tue, 09/20/2011 - 17:04 | 1690121 CitizenPete
Tue, 09/20/2011 - 12:12 | 1689074 vote_libertaria...
vote_libertarian_party's picture

'SMP'?

Tue, 09/20/2011 - 12:15 | 1689093 Dick Darlington
Dick Darlington's picture

ECB's fraudulent "securities markets program" under which it monetizes the debt of the insolvent member states.

Tue, 09/20/2011 - 12:13 | 1689082 Mitch Comestein
Mitch Comestein's picture

This is more bullish news.  Well, bullish for gold.  Check out GDX and GDXJ.  They are both up big are large volume!....bitchez.

Tue, 09/20/2011 - 12:13 | 1689083 dark pools of soros
dark pools of soros's picture

JPM already raped their coffers and took tons of public assets ..  no need for that group of foolish/bought government anymore once the bucket is dry

Tue, 09/20/2011 - 12:15 | 1689095 Everybodys All ...
Everybodys All American's picture

No governments in Belgium, Slovenia, ( who is next? ) ...

Tue, 09/20/2011 - 12:19 | 1689115 RSloane
RSloane's picture

Maybe this will be a trend we can trade on!

Tue, 09/20/2011 - 12:39 | 1689210 Lord Welligton
Lord Welligton's picture

Greece.

Tue, 09/20/2011 - 12:17 | 1689098 kurzdump
kurzdump's picture

Well this is good news! However, Merkozy cant postpone its plans so Greece has to default without the upgraded EFSF. It will find an alternative solution to bail out the banks for sure.

Tue, 09/20/2011 - 12:16 | 1689102 sabra1
sabra1's picture

don't they have voting HFTs?

Tue, 09/20/2011 - 12:20 | 1689116 pods
pods's picture

And *poof* it's gone!

pods

Tue, 09/20/2011 - 12:23 | 1689131 lolmao500
lolmao500's picture

Slovenia matters for the first time in their history. Congratulations.

Tue, 09/20/2011 - 12:40 | 1689219 Herman Strandsc...
Herman Strandschnecke's picture

I've never heard of Slovenia. Is it anywhere near the Bailiwick of Fenwick?

Tue, 09/20/2011 - 12:48 | 1689247 UGrev
UGrev's picture

it's on platform 10 1/2.

Wed, 09/21/2011 - 03:06 | 1691418 StychoKiller
StychoKiller's picture

It lies between Pottsylvania and Mooseylvania:

http://en.wikipedia.org/wiki/File:Map_of_Pottsylvania.jpg

Tue, 09/20/2011 - 12:23 | 1689133 porrannor
porrannor's picture

Yes, it's so much better when the elitist few makes all the decision for us.

Tue, 09/20/2011 - 12:28 | 1689151 youngman
youngman's picture

Is a collapse the same as a default....lol...I bet they get some free money to hurry up..

Tue, 09/20/2011 - 12:29 | 1689156 Waffen
Waffen's picture

So in practical terms what does this mean? It doesnt seem to make much difference whether the ECB or the EFSF is buying the bonds, just slightly more money printing?

Tue, 09/20/2011 - 12:55 | 1689268 kurzdump
kurzdump's picture

In case of a default it makes a difference. The ECB has to be refunded by the national central banks while the EFSF just issues new bonds.

Tue, 09/20/2011 - 13:11 | 1689188 falak pema
falak pema's picture

In any case it will take Angela Merkel four months to iron out if its possible the wrinkles in Germany about the debate concerning the implications both statuatory and political about more federation in EU, to save the Euro. 

This is a long drawn out painful process in both Germany and France as in all other member nations. You cannot go to federation without more pain and more debate in each nation state. Its the stark reality of the spiral from Greece to the other peripherals which will dictate how far EU will sink before it eventually rises. In its current mind frame, this will not occur in four months but more likely in four years...IF AT ALL. It's make or break time over this time frame : four years, when the US-EU stand-off will have come to a point where each side will have chosen its political destiny/direction, relative to the events now in motion in the ongoing wind down of western civilization; economic, political, financial, moral-ethical-value centered and finally psychological and confidence levelled. 

Wed, 09/21/2011 - 02:59 | 1691410 Cashboy
Cashboy's picture

I think Merkel has already decided that the PIIGS are not worth saving; just as virttually all the atcual German people concluded a few months back.

The German finance leader is now trying to lower exposure of the German Government, German Banks and German Corporations  to the PIIGS debts; hence Siemens pulling out Euros 500 Million from a French bank etc.

Germany's export trade is slowing down and the longer the delays in the bail out continue the more evident it will become that Germany would be stupid to bail out the EC.

Charity starts at home!

Wed, 09/21/2011 - 03:02 | 1691412 Cashboy
Cashboy's picture

I think Merkel has already decided that the PIIGS are not worth saving; just as nearly all the atcual German people concluded a few months back.

The German finance leader is now trying to lower exposure of the German Government, German Banks and German Corporations  to the PIIGS debts; hence Siemens pulling out Euros 500 Million from a French bank etc.

Germany's export trade is slowing down and the longer the delays in the bail out continue the more evident it will become that Germany would be stupid to bail out the EC.

Charity starts at home!

Tue, 09/20/2011 - 12:35 | 1689189 papaswamp
papaswamp's picture

heard Slovakia isn't too keen on the ESFS either. SaS is holding out.

http://spectator.sme.sk/articles/view/43919/2/could_slovakia_be_eurozone...

Be something if the 2 little guys turned out to be the powerhouses.

Tue, 09/20/2011 - 12:43 | 1689231 Lord Welligton
Lord Welligton's picture

It seems the Law of Unintended Consequences is at work.

Even the Universe is kicking the can down the road now.

Tue, 09/20/2011 - 13:01 | 1689301 Nothing To See Here
Nothing To See Here's picture

IMO, part of the answer to the market run today is that the forthcoming news that North Korea will bail out Italian banks is already priced in.

Tue, 09/20/2011 - 13:44 | 1689314 Cpl Hicks
Cpl Hicks's picture

OMG!

This is rilly big news!

Yes, this may seem to be just a tiny, insignificant country but Slovenia is the keystone, the veritable linchpin to the whole damn house of cards over there.

I predict catastophic flooding and seven years of bad luck.

Tue, 09/20/2011 - 13:07 | 1689316 JLee2027
JLee2027's picture

Left field?

Tue, 09/20/2011 - 13:10 | 1689329 whisp
whisp's picture

It seems that in Slovak republic ratification vote of ESFS will be bounded with confidence vote. Coalition party SaS just said in TV  they wil vote NO in any case so expect another government collapse in Eurozone almost for sure.

Tue, 09/20/2011 - 13:13 | 1689341 glokk26L
glokk26L's picture

Read Ferfal's blogspot about prostitution, how in Argentina the womenfolk a lot of the time would just moonlight so to speak, and model quality ladies would have to sell it.

Figure it'll be here soon enough, just the menu will be priced in silver I'm betting.

Tue, 09/20/2011 - 13:42 | 1689439 catacl1sm
catacl1sm's picture

I don't think it will work out as well here, what with all of the Jersey Shore like bitches.

Tue, 09/20/2011 - 13:46 | 1689452 Zenster
Zenster's picture

All it takes is one little push.

Tue, 09/20/2011 - 14:55 | 1689699 Negro Primero
Negro Primero's picture

..not so fast, Euro-Mafia at work:

"There’s a procedure under EU law called “enhanced cooperation,” which means that when all the countries can’t agree to cooperate, a subset comprising those who can can go ahead alone. That might be a guiding principle for a MEFSF. But it’s not really necessary: the MEFSF would be a private company. Any subset of countries could choose to take part, or not."

http://blogs.wsj.com/brussels/2011/09/20/slovenia-could-delay-efsf/

Tue, 09/20/2011 - 17:10 | 1690135 arizona11912
arizona11912's picture

Another shuffle to the day the ECB announces "Euro-bonds" baby!!

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