Submitted by Tyler Durden on 05/06/2012 16:25 -0400
Greece
Reuters
The only saving grace of the earlier horrendous Greek parliamentary vote was that, based on very preliminary results New Democracy and Pasok would be able to form a coalition government with precisely 151 seats needed in parliament to give them status quo powers. However, according to a more recent re-rack of the votes (New Democracy 18.9%, 108 seats, Pasok 13.4%, 41 seats, Syrizia: 16.6%, 51 seats, and all others), this assumption is now in jeopardy as the two pro-bailout parties will have just 149 seats in the new parliament, or not even a full majority. Why is this problematic? Because virtually every other party in the new parliament, and there may be up to 10 there including the New Dawn, have voiced their opposition to the bailout of Greece, which as everyone knows is merely a bailout of Europe's insolvent banks using Greek taxpayer funds as a conduit. And, adding insult to injury, Reuters now reports that "Greek leftist leader calls for anti-bailout coalition." It appears that finally, after many years of delays, the anti "bailout" genie is finally out of bottle...
From Reuters:
Greece's Left Coalition called on Sunday for an anti-bailout coalition, saying the country's general election showed that austerity policies had been soundly defeated and a peaceful revolution ushered in.
The Communist KKE - which
http://www.zerohedge.com/news/banks-nightmare-coming-true-greek-left-calls-anti-bailout-coalition?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
slaughterer
slaughterer's picture
What or who is manipulating the EUR/USD spreads right now so that it does not immediately plunge below 1.2949? BIS?
I am literally watching this under-handed legerdemain happen before my very eyes right now with absolute astonishment.
Am I going to get squeezed again? Please, say it is not so.
LetThemEatRand
LetThemEatRand's picture
Very simple solution whether you want to blame the bankers or the people who believe retirement should be possible for the average Joe. Banks and bondholders made a bad bet by lending multiples of GDP to Greece to support an obviously broken system. So far they have made huge profit on this bad bet. That's why we blame the bankers, genius. Let them lose their $ucking money like any of us do when we make a bad bet. Or should the banking and bondholder class continue to be allowed to privatize their gains and socialize their losses as is occuring in the United States and most of Europe?
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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