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Syriza Takes Advantage Of Spanish Bailout To Boost Its Winning Odds

Tyler Durden's picture




 

On Saturday, when we discussed the impact of the Spanish bailout for other European countries, focusing on Ireland which had promptly requested a renegotiation of its own terms to match those of Spain, we noted that "Syriza's Tsipras should send a bottle of the finest champagne to de Guindos - he just won him the election." It appears that the leader of the Greek anti-bailout party wasted no time to capitalize precisely on just this.

From the FT:

Alexis Tsipras, leader of Greece’s leftwing Syriza coalition, seized on news of the Spanish bailout to bolster his position ahead of next week’s crucial general election, which may determine whether the country stays in the euro.

 

“The developments in Spain confirm the position we adopted from the start – that the crisis is a pan-European problem, and the way it has been handled so far has been socially catastrophic and completely ineffectual,” Mr Tsipras, who opposes the bailouts, told a newspaper.

 

Antonis Samaras, the pro-bailout conservative leader, said the Spanish bailout terms showed “the benefits of taking the road of responsibility”.

What we wonder is why did Europe cave to the Spanish demands before the Greek elections. Because, paradoxically, by yielding to a bailout plan, which at least superficially has been painted as one without conditions, it just cemented Syriza's entire electoral platform as having absolute validity.

Then again, on the insolvent continent, nothing really surprises us any more.

 

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Mon, 06/11/2012 - 09:14 | 2514060 Sudden Debt
Sudden Debt's picture

the road of responsibility......

WHOEHAHAHAHAHAHAHAHA!!!!!!!!

Mon, 06/11/2012 - 11:24 | 2514733 gojam
gojam's picture

And also this zerohedge article which correctly predicted that this would be the consequence before the bailout plan had even been announced.

http://www.zerohedge.com/news/guest-post-how-will-spanish-bailout-deal-effect-greek-elections

Mon, 06/11/2012 - 09:16 | 2514065 LULZBank
LULZBank's picture

Vote me, I'll be gentle!

Mon, 06/11/2012 - 09:17 | 2514074 Winston Churchill
Winston Churchill's picture

Vote for me ,I'll use vaseline.

Mon, 06/11/2012 - 09:24 | 2514095 GubbermintWorker
GubbermintWorker's picture

Vote for me, I'll use Vaseline and throw in a reach around :-)

Mon, 06/11/2012 - 09:32 | 2514128 tarsubil
tarsubil's picture

I'll just have to vote for the lesser of many evils.

Mon, 06/11/2012 - 09:40 | 2514147 mick_richfield
mick_richfield's picture

Vote for Cthulhu, and you will be eaten last.

Well, last-ish.

Mon, 06/11/2012 - 09:59 | 2514207 Nobody For President
Nobody For President's picture

And which country would that be, tarsubil?

Ans: All of them

Mon, 06/11/2012 - 09:19 | 2514083 Sudden Debt
Sudden Debt's picture

LESS WHIPS

MORE CHAINS!

Mon, 06/11/2012 - 10:21 | 2514338 slewie the pi-rat
slewie the pi-rat's picture

altho slewie is not known for being a big tipper, sodden_D,

you can keep the chains

Mon, 06/11/2012 - 09:34 | 2514133 LULZBank
LULZBank's picture

I'll do it in a way, you'll come to like it!

Mon, 06/11/2012 - 09:16 | 2514068 Snakeeyes
Snakeeyes's picture

Hey, at least Greek and Portuguese yields have been falling. More than I can say for Spain!

http://confoundedinterest.wordpress.com/2012/06/11/spains-bank-bailout-fizzles-italy-now-in-the-bailout-cross-hairs/

Mon, 06/11/2012 - 09:25 | 2514069 SeverinSlade
SeverinSlade's picture

Burn the mother fucker to the ground (The Euro/EU/ECB etc).

Mon, 06/11/2012 - 09:17 | 2514077 LULZBank
LULZBank's picture

What we wonder is why did Europe cave to the Spanish demands before the Greek elections. Because, paradoxically, by yielding to a bailout plan, which at least superficially has been painted as one without conditions, it just cemented Syriza's entire electoral platform as having absolute validity.

You mean they want Greece to exit the Euro and/or renegate the bailouts?

Mon, 06/11/2012 - 09:41 | 2514152 DeadFred
DeadFred's picture

When dealing with politicians and other sociopaths one must think outside the box, so some reasons to consider.

-It's really much worse than even Tyler suspects.

-They want Greece out no matter what it costs.

-Tsipras is not a threat because he has been bought or blackmailed already.

-Diebold.

I'm betting on Door Number 1

Mon, 06/11/2012 - 09:20 | 2514088 Mugatu
Mugatu's picture

Remind me, How did all this bailout shit turn out for Greece?

Nuff said!

Mon, 06/11/2012 - 09:22 | 2514090 the 300000000th...
the 300000000th percent's picture

I so want this guy to win, i want to see the bankers squirm. It will force Greece out of the Euro, into the drachma, and much the way of Iceland. Let the liberation begin already!!!

Mon, 06/11/2012 - 10:26 | 2514365 fajensen
fajensen's picture

I have a bottle here, The spirit in there sez that Syriza will win the election with a huge margin ... and they will use it as leverage to immediately sell out to the bankers.

Mon, 06/11/2012 - 09:23 | 2514092 Disenchanted
Disenchanted's picture

 

 

 

Spain's New(old?) Organizational Chart:

 

http://urbansurvival.com/spainneworg.jpg

 

A Fiona Govan report in the UK Telegraph notes that this only saves the rich and the poor are already turning out in droves to protest,

Mon, 06/11/2012 - 09:27 | 2514105 Debugas
Debugas's picture

i only have one question for Syriza

when you declare default and still insist on staying within euro - where will you get the money from to finance public services ?

Mon, 06/11/2012 - 10:44 | 2514507 slewie the pi-rat
slewie the pi-rat's picture

syrizzza may not be able to form a goobermint

last we saw, it had ~30%, in a dead heat w/ antonioSam GR_GreecePolls.swf

fractured fairy tales: w/ gPap calling in his chips for his party and the bigV-man coming down the stretch for pasok i don't see syrizzza getting enough votes/seats to take over

i think the two college roomates gPap&antonioSam will sit tight and see what angela does

this leaves the squid in charge, which is where gPap left things when he resigned, right? 

the EU debacle will try to play out with marioECB's plan up by the 20th.  of june, right?

everything should have fallen apart by then and the banksters will have everone lubed and ready or those checks are not gonna be in the mail

the finiMinis will tell their bosses:  do it!  work out that crap about sovereignty later

and...they will!

i think we hear it called consolidation... necessary re-capitalization... breathing room...  can-kicking...

as long as nobody hasta pay for it, they'll get those checks out!

Mon, 06/11/2012 - 09:28 | 2514110 monopoly
monopoly's picture

and cnbc just keeps talking about....Nothing. What a waste for the parent company.

Mon, 06/11/2012 - 09:32 | 2514129 mayhem_korner
mayhem_korner's picture

What a waste for the parent company.

 

Didn't that train leave the station when Immelt took over?

Mon, 06/11/2012 - 09:37 | 2514142 q99x2
q99x2's picture

Panic thinking results quickly in a wrong choice followed by a stampede.

Mon, 06/11/2012 - 09:50 | 2514175 asteroids
asteroids's picture

Be thankful that there are no riots in Spain. Wait, that'll come soon enough.

Mon, 06/11/2012 - 09:55 | 2514191 Lebensphilosoph
Lebensphilosoph's picture

100 million dead at the hands of Marxists and people still haven't learned

Mon, 06/11/2012 - 17:11 | 2516050 The Age of Usef...
The Age of Useful Idiots's picture

Would you mind elaborating on that estimate a bit? Because it seems that in the last two decades hyperinflation has taken over in such estimates.

And while you are at it, would you like to post some numbers for capitalist nations historically, say during periods of World Wars, Imperialism, genocides and/or Colonialism?

Otherwise some people might think you are cherrypicking here, refusing to look at problematic aspects of human nature in order to fit a subset of the facts to your ideology. Just saying.

 

Mon, 06/11/2012 - 10:01 | 2514203 mick_richfield
mick_richfield's picture

I was just trying to think of how Europe will be ruled after the Collapse.

It seems obvious that the Money Power reptiles have blown it, so who's next?

The general attitude on ZH seems to be that we'll get a new Hitler or something, from the Germans. 

I'm not buying that.  It's not only the Generals who are always fighting the last war -- it's us too!  The Germans have changed a lot since then, and I think they will produce another Wehrmacht sometime after the Spanish produce another Armada, or the Macedonians produce another Alexander.

The Germans have changed significantly since 1936 -- just look at the demographics!   The average age of the german population is 44 !   Vier-und-freaking-vierzig !   How is this new Hitler going to rile up a population like that!  Pound on the podium and shout Drang nach health-care!  ?

To make big armies and go nuts, you need young people, not geezers.

And then it struck me, like a diamond bullet in my brain.

Iran.  The next ruler of Europe will be from Iran.

Drang nach norden.

Mon, 06/11/2012 - 10:03 | 2514226 Lebensphilosoph
Lebensphilosoph's picture

Why not. Fifty years from now Europe will be the Middle East.

Mon, 06/11/2012 - 10:10 | 2514274 AnAnonymous
AnAnonymous's picture

Made me laugh.

More likely: fifty years from now, the Middle East will be Europe.

Mon, 06/11/2012 - 10:46 | 2514451 Lebensphilosoph
Lebensphilosoph's picture

With their human resources that is not possible. Keep in mind that an IQ in the range of 70 to 84 is defined as borderline intellectual functioning and anything below that as mental retardation.

Mean IQ

Bahrain 83
Egypt  83
Iran  84
Iraq  87
Jordan  87
Kuwait  83
Lebanon 86
Oman  83
Qatar 78
Saudi Arabia  83
Syria  87
Turkey  90
United Arab Emirates  83

the exception being, unsurprisingly, as it is in everything else

Israel  94

although the average is clearly suffering a little as a result of diverse demographics, being that significant numbers of Israelis do not have their origins in the populations of Europe. That's clear from the fact that Ashkenazi Jews have the highest mean IQ of any 'ethnic group' in the world.

Germany 107
Netherlands 107
Poland 106
Sweden 104
Italy 102
Austria 101
Switzerland 101

Europeans made Europe, not the other way around.

Mon, 06/11/2012 - 10:56 | 2514583 slewie the pi-rat
slewie the pi-rat's picture

so the marxists killed the dumb-asses?

and now they should kill the muslims?

how scientififc!  L0L!!!

Mon, 06/11/2012 - 12:32 | 2515096 Vigilante
Vigilante's picture

Careful there ..

Sheople might call you a racist...!

Mon, 06/11/2012 - 10:37 | 2514449 The They
The They's picture

The ME is the way it is because of the oil.  Everyone is always willing to fight over oil riches, but who would want to fight over a bunch of whiny europeans demanding welfare they can't pay for?

Mon, 06/11/2012 - 10:07 | 2514254 Lebensphilosoph
Lebensphilosoph's picture

To make big armies and go nuts, you need young people, not geezers.

 

Its doubtful most young Germans would even take up a gun to defend their own life, property and freedom, and in that order. They would, however, to defend those of a third-world immigrant.

Mon, 06/11/2012 - 10:17 | 2514312 mick_richfield
mick_richfield's picture

Sacrilege -- bugalert -- posts that start with italics cannot accept up- or down-votes.

 

Mon, 06/11/2012 - 10:51 | 2514559 Lebensphilosoph
Lebensphilosoph's picture

Did you hear that AnAnonymous? That's something for you to keep in mind.

Mon, 06/11/2012 - 12:34 | 2515110 Vigilante
Vigilante's picture

Yeahh..it's called degeneracy.

The last stage before whitey auto-extincts himself..

Mon, 06/11/2012 - 10:14 | 2514298 AnAnonymous
AnAnonymous's picture

To make big armies and go nuts, you need young people, not geezers.

______________________________

How so? The number in army, is that really an issue at present days?

To lob laser guided missiles, do you need to be that fit? To phone your lawyer before shooting camera armed journalists when flying a chopper in silent mode?

Mon, 06/11/2012 - 10:21 | 2514337 mick_richfield
mick_richfield's picture

It's not a physical fitness issue, it's an emotional immaturity issue.

To get a population as riled up as Hitler did with germany in the 1930s, the population has to have a low average age.

A population of 40-somethings can indeed make war, they can send drones and press buttons, but first of all you're never going to win a serious war that way, and second -- they are a lot harder to convince that they should go to war at all. 

For grown-ups, it takes a lot more than a charismatic leader with a dramatic speaking style.

Mon, 06/11/2012 - 10:56 | 2514581 localpacific
localpacific's picture

Look guys ths spanish bailout factors in tremendously...but its still having a strong effect here: Markets Begin Higher On Spanish Bank Bailout http://www.traddr.com/video/markets-begin-higher-on-spanish-bank-bailout

Mon, 06/11/2012 - 11:01 | 2514609 slewie the pi-rat
slewie the pi-rat's picture

 

we can see the screens

Nasdaq 2,851.94 -0.23% DJIA 12,519.30 -0.28% S&P 500 1,325.46 -0.02%
Mon, 06/11/2012 - 12:06 | 2514973 financial apoca...
financial apocalyptic contagion's picture

Tyler they couldnt wait coz the costs of the bailout were growing by the billions erryday bro

it was either 100 bil now or who know 200 after the elections or 300 if the anti-bailout dude won

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