Mar 142012
 March 14, 2012  Posted by at 1:41 pm Finance

Euro39Equity markets are off doing their own thing again while the momentary lapse of confusion and chaos in Europe persists. Now that Greece has been able to avoid a disorderly default scenario at the end of this month, the Eurocrats tell us that they have made everything copaseptic. The second bailout for Greece has been officially approved and the first installment of €39.4bn will be released to the government (the banks) in three separate tranches (it’s drawn out so very little of the money will actually be paid).

What could possibly go wrong? It’s as if this completely expected and symbolic measure has casually melted away every outstanding issue in Europe. Sarkozy has once again declared that the Greek crisis is “solved”, remaining very true to his ignorant and foolish style, and Jean-Claude Juncker repeatedly states that he and his cronies have presented the country with an opportunity of a lifetime:

“This second programme constitutes a unique opportunity for Greece that should not be missed. The Greek authorities should therefore continue demonstrating strong commitment and to keep up the implementation momentum by rigorously pursuing the adjustment effort in the areas of fiscal consolidation, structural reforms and privatisation, strictly in line with the new programme.


This will allow the Greek economy to return to a sustainable path, which is in the interest of everyone.”

Needless to say… what a crock of shit! The only opportunity the Greeks have been given is to remain in the shackles of debt slavery while they watch their country be gutted from the inside out. Just about every analyst out there, including those that work for the Troika, says that Greece will be unable to reach its mandated deficit targets and will require another bailout. And not a dime of that bailout, just like the current one, will reach the Greek people. The Greek economy will continue to contract, more than half the country’s young adults will remain unemployed and people will continue to starve to death.

What we are witnessing is the systematic slaughter of an entire nation for the benefit of a few elites. The nerve of Eurocrats like Juncker, who has already admitted he is more than willing to lie “when it gets serious”, is absolutely astonishing, but the betrayal of the Greek people by their national politicians is unforgivable, even if all of it is unsurprising. That’s something they will all be finding out for themselves soon enough, though. While the Eurocrats blather on about solutions and opportunities, and the markets act like only good times are ahead, the residents of Athens descend further into their living nightmare. Helena Smith for the Guardian:

The Guardian Blog


“The soaring crime rate is yet another offshoot of the financial crisis and with tourist-dependent Greece also preparing for its first flux of visitors, security concerns have taken centre stage. Aides close to Michalis Chyrsohoidis, who took over the post of public order minister in a mini-reshuffle last week, say criminal activity has assumed epidemic proportions especially in Athens where break-ins, robberies and murders (one every 48 hours) have skyrocketed. Robberies shot up by 125 % alone in the greater Athens region in 2011.<


The minister, who has ordered that convoys of police on motorcycles be immediately increased, is worried that extremists may also exploit the social turmoil that has come with galloping unemployment (youth joblessness has exceeded 50%) and deepening poverty. Without giving any warning, leftwing urban guerrillas recently left an explosive devise on a subway train in Athens.


The device, which almost certainly would have left casualities had it exploded, only failed to detonate because of a fault.


On Tuesday, the culture and tourism minister Pavlos Geroulanos revealed that German bookings had nosedived by 30 % compared to this time last year (German visitors normally top the league tables of arrivals in Greece) while British bookings had dropped by about 10 % – in both cases because of the bad image that has come with media coverage of repeated riots sparked by outrage over austerity.


The culture ministry, itself facing more cuts, has appealed to the finance ministry for funds to recruit international PR firms in the hope of improving the country’s image before the tourist season begins.”/i>

Home Forums The Greeks Were Given an Opportunity to Dig Their Own Graves

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    Equity markets are off doing their own thing again while the momentary lapse of confusion and chaos in Europe persists. Now that Greece has been able
    [See the full post at: The Greeks Were Given an Opportunity to Dig Their Own Graves]

    el gallinazo

    The floggings will continue until morale improves.

    The Troika


    Margaret Thatcher called it: “Socialism is great until you run out of other people’s money.”


    This is just the natural progression of a world without morals. Greek corruption is as much to blame for this as anything else. Everyone has figured out how to get a free slice of the pie and it seems that 120% of it has been served up to date.


    buddha post=1258 wrote: Margaret Thatcher called it: “Socialism is great until you run out of other people’s money.”

    No, its “Capitalism is great until you run out money to steal from other people”.

    Fixed that for you.



    The Greeks Were Given an Opportunity to Dig Their Own Graves

    Let me fix it

    “The Greeks Were Given an Opportunity to Dig The EU Graves”

    Since joining the EU they have been receiving but have not been able to pay for any of it.

    el gallinazo


    You mean all the loans that the Greeks received were interest free? Who knew?



    They cannot even pay the interest … just add it to the tab


    When the banksters came for Ireland, I called the Irish drunken fools and did nothing.

    When the banksters came for Greece, I called the Greeks lazy socialists and did nothing.

    When the banksters came for Spain, I called the Spaniards siesta-taking, salsa-dancing clowns and did nothing.

    etc., etc.

    jal wrote: Since joining the EU they have been receiving but have not been able to pay for any of it.

    How exactly do you think the EU core populations have exported their way into such wealth? Why do you think they are trying so hard to keep a tiny country like Greece in? Please show me one other Western nation that is suffering like Greece is right now before you tell me they haven’t paid.


    I agree … greeks are suffering.

    A story …

    A greek walked into a bar and pulled out his little bag of gold dust and shouted ,”A drink for all my friends”.

    The bartender said, ” show me your dust”.
    The greek quickly flashed his dust and said, “See, I ‘m good for it”.

    Since the bartender did not have scales he had to put the bill on the tab.

    This went on for a long time. Every time that the bartender was going to refuse to give another drink, someone would advance some cash to the greek until the assayer would come around to exchange what was in the bag of dust for money.

    However, one day, when the greek was not looking, a lender looked into the dust bag and found that it contained only fools gold.

    Realizing that he would not get his promissory note honored and that the greek could not return any of the liquor that he had bought, he sold his promissory not to another lender and got out of the bar.

    The stories started circulating that the greek had fool’s gold in his bag.
    Since all the lenders and the bartenders were not fools, they all tried to find someone to take their promissory notes before the assayer got into town to do an evaluation of what the greek had in his dust bag.

    Gold or fool’s gold??

    Tell me what will happen to the drunken passed out greek.

    Will the bartender take back his liquor in a piss bottle?

    Will the lenders take back their money from the bartender and thereby make his problem doubly hard?

    Will the lenders go home and tell their grandma that they made a bad investment and that grandma lost all her money and must live in the street?

    Will killing the greek solve any of the problems?

    (If you like my story you could give me a Thank You)


    Tell me, exactly how are the bankers the problem????

    YOU and I are the problem. Over and over again we elect people who spend more than they take in. If we don’t pay their ransom the threaten to take way our teachers, policemen and firemen.

    Well you know what, we have to let the system disintegrate, possibly teach our own children and protect our own neighborhoods ourselves if we expect any sort of freedom or liberties.

    The corporate/large central government model has reached the end of it’s useful life. They are using their power to indoctrinate instead of educate our children and diluting any savings you might have acquired to fund an unsustainable social agenda. Politicians and corporations have made a fortune servicing and promoting poverty!

    el gallinazo

    Nice story, Jal. Wish it had something to do with Europe. Mind if I use it but substitute a Gypsy, Jew, or Negro for the Greek?


    I haven’t voted or a Democrat or Republican for president in over 20 years. You want to blame yourself for electing puppet gangstas, that’s your business, but don’t include me.


    I don’t vote—–yea, that is the answer! Do you pay taxes or just leach off the system?

    el gallinazo

    MR166 post=1275 wrote: I don’t vote—–yea, that is the answer! Do you pay taxes or just leach off the system?

    WTF! Can’t you read. I wrote that I hadn’t voted for a Democrat or Republican for President and you translate that to – I didn’t vote at all. Ever hear of Ralph Nader for example? Though for the most recent part of my life, I couldn’t vote for president if I chose to as the US VI doesn’t have an elector. As to paying taxes, where the hell did that come from? FYI, I have had my pound of flesh extracted annually from my hide. However, I certainly would not personally condemn people who choose not to vote, since the whole system is a ridiculous sham, nor, for that matter, people who don’t pay taxes, particularly if they give the money to stray cats and orphans instead. Truth be told, I have paid my taxes motivated, like most of us, solely by sheer cowardice, and no moral imperative whatsoever.

    For what it’s worth, I found your last comment personally offensive. We operate on different standards in the comments of TAE than ZH for example. You seem to be new to the site and may not know that.


    I don’t vote at all, in fact I have never even registered to vote. I grasped it was all a sham well before I was old enough to vote.

    If I could stay out of Jail and not pay taxes, I most certainly would do that. I do the next best thing, which is to make only as much as i need to and keep my tax liability as low as possible.

    “Democracy” is merely a means to take Debt and make it timeless in the Sovereign State. Has nothing whatsoever to do with political freedom in any real sense.




    Your right El Gallinazo it was an uncalled for personal attack and I apologize for it.

    el gallinazo

    Apology accepted.


    thanks MR166 for the video. Here’s one back atcha

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