Things in Greece are bad. So bad, that the outgoing government of Antonis Samaras decided to not only leave the new inhabitants of the official residence of the Greek prime minister, the Maximos Mansion, without power, and without the WiFi password, but they decided to “borrow” all the soap in the toilet as well.
“We sit in the dark. We have no internet, no email, no way to communicate with each other”, said an employee of the Office, who has worked for various government for years. “That’s never happened before.” It shows that Samaras’ team have “no manners and no decency.” Continue reading »
During a state-TV “interview” which many are dubbing pure fear-mongering propaganda ahead of Monday’s final ‘vote of confidence’, Greek Prime Minister Samaras unleashes his most assanine M.A.D. comments yet.
“It’s not a question of what’s good for me or New Democracy. It’s best for the country that there are not snap elections.”
Translation: you don’t need no stinking democracy, trust us – your benevolent rulers – to do what’s best for the Greek people. Continue reading »
With Greek Prime Minister Antonis Samaras settling into his role as EU President, UKIP’s Nigel Farage stunned the “Goldman Sachs puppet” with a 150-second tirade of truthiness he has likely never experienced. Farage sacrastically remarks how Greeks “will be dancing in the streets” at Samaras’ ‘successful’ negotiation on MiFiD reminding him that “60% of youth are unemployed and the neo-nazi party are on the march.” Europe is now run by “big business, big banks, and big bureaucrats,” Farage goes on, suggesting the smarmy-looking Samaras should “rename his party from New Democracy to No Democracy.” People do not want a United State of Europe, the outspoken UKIP leader explains, they want a “Europe of sovereign states,” and concludes ominously, “the European elections will be a watershed.”
…And you come here Mr Samaras and you tell us that you represent the sovereign will of the Greek people? Well, I’m sorry, but you’re not in charge of Greece, and I suggest you rename and rebrand your party – it’s called ‘New Democracy’, I suggest you call it ‘No Democracy’.
Because Greece is now under foreign control. You can’t make any decisions, you’ve been bailed out, and you’ve surrendered democracy, the thing your country invented in the first place.
And you can’t admit that joining the euro was a mistake – of course Mr Papandreou did that didn’t he, he even said there should be a referendum in Greece and within 48 hours, the unholy trinity (troika) that now run this European Union had him removed and replaced by a ex-Goldman Sachs employee puppet.
We are run now by big business, big banks and in the shape of Mr Barroso, big bureaucrats…
A week ago we joked that Greece was rapidly sliding into the “fourth world” (and had the photos to prove it). Well, today Equity Index provider MSCI took our joke and made it into something way too serious when overnight it made Greece the first developed nation ever to be downgraded into “emerging market” status. Not quite fourth world, but that too will come. However, what’s worse for Greece is that as we reported yesterday, the majority of Greeks have no way of learning about this following the governmental “temporary” shutdown of its one national TV prodier, ERT. Kathimerini followed up with news that ERT would be renamed to NERIT, the New Hellenic Radio Internet and Television – a state company owned by the public sector and regulated by the state, and relaunched by the end of August, however what matters to the public is that the vast majority of employees would likely be let go permanently.
However, the biggest news out of Greece is that the events in the 24 hours have pushed the depressed country right back into crisis mode, with political bickering front and center (the opposition leader called the uncoordinated move “a coup” even as coalition partners blasted the broadcaster shutdown while Europe washed it hands), while the economic contraction is set to accelerate once more following what is certain to be another escalation in daily protests and riots. And who can blame them – with that last civilizational “premium” – free TV for all – gone, what else is there to do?
Greece’s fragile government faced an internal revolt and fierce public protest on Wednesday over the sudden closure of state broadcaster ERT, hours after the humiliation of seeing its bourse downgraded to emerging market status. The twin setbacks, coupled with the derailing of a troubled privatization program, blew a hole in rising investor confidence that had prompted Prime Minister Antonis Samaras to declare the risk of a “Grexit” from the euro was dead and a “Greekovery” was under way.
Police fired tear gas as angry protesters clashed with officers in Athens as thousands rallied in the Greek capital in protest against German Chancellor Angela Merkel’s visit. Merkel is in Athens for austerity talks with the country’s Prime Minister.Angry protesters picked stones from the cracked pavement and hurled them at police. AFP estimated that at least 25,000 people turned out to express their anger at Greece’s austerity policies.
Demonstrators hoisted banners reading, “Merkel out, Greece is not your colony” and “This is not a European Union, it’s slavery.”
Teachers, doctors and other public employees went on strike Tuesday, taking to the streets of Athens alongside trade unions and opposition political parties. Many Greeks say they cannot take more of the wage cuts and tax hikes that have left every fourth person in the public sector jobless.
“They’ve turned our lives into hell,” one the protesters told Reuters. “We don’t want [Merkel] here.”
At least 190 people were detained in Athens, including students and members of a ‘Solidarity Network’ protest bloc, seen with banners and megaphones, report local media. Twelve of them were charged with administrative offences. Local officials are yet to confirm the numbers.
Two Nazi flags were set on fire near parliament as demonstrators chanted, “No to the Fourth Reich!”
Earlier today we showed for the nth time that with insanity and insolvency ravaging the old continent, at least one person has the temerity to avoid sticking his head in the sand of collectivist stupidity and denial. That person is Bundesbank head Jens Weidmann, who until now may or may not have had the backing of Germany’s elected leader, Angela Merkel. Moments ago it became clear whose side Merkel, who recently came back from vacation and is set to spoil the party that the (insolvent) mice put together in her absence, is on. From Reuters, who quotes Merkel in her just released interview with German ARD: “I think it is good that Jens Weidmann warns the politicians again and again,” Merkel said. “I support Jens Weidmann, and believe it is a good thing that he, as the head of the German Bundesbank, has much influence in the ECB.”
Merkel also has some additional words about the Grexit.
Merkel allies, particularly the Bavarian Christian Social Union (CSU), have stepped up criticism of Greece in recent weeks, with senior CSU lawmaker Alexander Dobrindt saying at the weekend that he expected Athens to be out of the euro zone next year.
While Belize is comfortable buggering bondholders, the Greeks (following this morning’s headlines) remain beholden to their euro-zone overlords – having survived a few more months on the back of reach-around ‘bailouts’ and ponzi-financing – all in the effort of providing more time for the ‘rest of Europe’ to figure out how to handle the ‘Athens moment’ that is surely coming. With September and October critical ‘event-rich’ months, Patrick Young, of DV Advisors, provides the clearest and least ‘rose-tinted’ perspective on where Greece has been, where they are now, and where this will all end. From the forged application for euro-zone membership to Oz-like fantasies of growth and austerity targets that remain pipe-dreams (and are constantly being missed), the bold Irishman in this brief clip explains “Greece has not done anything to really help itself, missed every deadline its been given” and the PM’s comments on their ‘spectacular come-back’ clarifies the ‘utter delusion’ among the Greek political class because “Greece is bankrupt; full stop; game over” and Merkel must agree to ‘let’ Greece leave the Euro (post Troika) – as the rise of civil unrest, since whatever new money flows their way exits right out the back door and never ‘helps’ the people, is inevitable. Especially following these mixed headlines (via Bloomberg):
*HOLLANDE: PEOPLE SHOULD STOP ASKING IF GREECE WILL STAY IN EURO
*HOLLANDE SAYS GREECE HAS TO DEMONSTRATE CREDIBILITY
*SAMARAS SAYS GREECE WILL STAY IN THE EURO ZONE
Alexander Dobrindt, general secretary of the Christian Social Union, said he sees no way around Greece leaving the euro area, Bild am Sonntag reported, citing an interview.
Dobrindt sees Greece out of the euro in 2013
Greece should receive EU support when it leaves the currency union and have the option of returning: Dobrindt
A year ago the mere mention of Greece selling its real estate, let along its prized islands, was enough to fill Syntagma square with tear gas, laser light pointers and the occasional riot dog. Now – nobody cares, which is why the statement by Greek PM Samaras that he is ready to start selling Greek islands was largely met with a yawn across the investing world.From AP:
Afraid of investing in Greek bonds? Invest in a Greek island instead.
Greece’s prime minister is quoted Thursday in an interview in France’s Le Monde as saying the government could cash in on uninhabited islands. Continue reading »
Greece is in a “Great Depression” similar to the American one in the 1930s, the country’s Prime Minister Antonis Samaras told former U.S. President Bill Clinton on Sunday.
Samaras was speaking two days before a team of Greece’s international lenders arrive in Athens to push for further cuts needed for the debt-laden country to qualify for further rescue payments and avoid a chaotic default.
Athens wants to soften the terms of a 130-billion euro bailout agreed last March with the European Union and the International Monetary Fund, to soften their impact on an economy going through its worst post-war recession.
The pro-bailout New Democracy party has come out on top in Greece’s parliamentary elections, having gained 29.6 per cent of the votes. With nearly all the votes counted, the anti-austerity leftist Syriza party is trailing on 26.9 per cent.
The results have kept fears of Greece’s imminent exit from the eurozone at bay for the time being. “The Greek people today voted for Greece to remain on its European path and in the eurozone,” New Democracy leader Antonis Samaras said after his party had won, AP reports. He added that voters had chosen “policies that will bring jobs, growth, justice and security.”
The pro-bailout Socialist PASOK party came third with 12.3 per cent of the votes. The far-right Golden Dawn part won 6.9 per cent.