The Greek parliament just voted, in a 229 for and 64 against landslide, to implement the austerity Europe demands to grant Greece the funds for Bailout #3 so that Greece can then repay European creditors (as opposed to facing up to the pain imminently and suffering through a Grexit) implicitly giving up their sovereignty and sending their 61% "Oxi" voting citizenry into what will inevitably be an even deeper economic depression.
- *GREEK GOVERNMENT HAS VOTES TO APPROVE BAILOUT BILL, TALLY SHOWS
As Bloomberg reports,
A majority of 229 Greek lawmakers voted in favor of bill which includes prior actions demanded by creditors for a bailout agreement that the govt has applied for, Parliament Speaker says.
64 lawmakers voted against bill, 6 abstained, in Greece’s 300-seat chamber
Bill titled “urgent measures for the negotiation and signing of an agreement with the European Stability Mechanism”
38 lawmakers of governing Syriza party, including former finance minister Yanis Varoufakis, former deputy Finance Minister Nadia Valavani, and Energy Minister Panagiotis Lafazanis didn’t support bill
Out of 149 Syriza MPs, 32 voted against bill, 6 abstained, 1 didn’t show up
More to the point, with 38 defections, Syriza has now officially lost its majority and a cabinet reshuffle is imminent as the drama goes on.
#Greece significant 'loss' for SYRIZA NO 32 (Mainly Left Platform) + Present 6— Keep Talking Greece (@keeptalkingGR) July 15, 2015
And as noted:
But the biggest surprise of the night was that the former finance minister and Tsipras' right-hand man, Yanis Varoufakis, voted against the bailout.
And his Energy Minister (who also voted No)...
- *GREECE'S ENERGY MINISTER LAFAZANIS SAYS HE SUPPORTS GOVERNMENT
- *LAFAZANIS SAYS `WE 'RE THE HEART AND SOUL OF SYRIZA'
- *LAFAZANIS SAYS HE DOESN'T WANT SNAP ELECTIONS
In summary - this just happened:
And because all the algos know is to buy when the elites get their way, S&P futures are rallying