[Pulp_Cutter]

Translation from today's Greek newspaper Kathimerini, courtesy ZeroHedge.

The Greeks are NOT carrying out the promised austerity measures, just as the EU is NOT actually bailing out Greece (not can they). The NYTimes had a recent article detailing that only 5-10% of the austerity measures had actually been enacted, because rank & file Greek politicians (those NOT at highest levels in the govt) understand if they do - they'll be voted out of office.

Excerpt:

Translated from Greek

Great participation in the strike of GSEE and ADEDY. Intensity in Syntagma Square

With a large turnout today was the nationwide general strike of GSEE and ADEDY.

According to data from the GSEE, participation in refineries, shipyards, and transport ships, reached 100%, banks, PPC, OTE and EYDAP, 80%, ports and construction 70% while 60% moved to participate in metal workers.

About 15,000 workers and members of leftist organizations took part in the strike gathering held at 11 am in Syntagma Square. Despite the constant rain, the protesters staged a symbolic encirclement of Parliament until late afternoon.

[qqqbear]

The German position is that, if Greece is let off the hook and goes back on all of its "promises", then it green lights the rest of Southern Europe to do the same.
Gangrene

Dust off your old drachmas.

[IntheHills]

Pulp_Cutter, on 07 February 2012 - 09:33 AM, said:

Translation from today's Greek newspaper Kathimerini, courtesy ZeroHedge.

The Greeks are NOT carrying out the promised austerity measures, just as the EU is NOT actually bailing out Greece (not can they). The NYTimes had a recent article detailing that only 5-10% of the austerity measures had actually been enacted, because rank & file Greek politicians (those NOT at highest levels in the govt) understand if they do - they'll be voted out of office.

Excerpt:

Translated from Greek

Great participation in the strike of GSEE and ADEDY. Intensity in Syntagma Square

With a large turnout today was the nationwide general strike of GSEE and ADEDY.

According to data from the GSEE, participation in refineries, shipyards, and transport ships, reached 100%, banks, PPC, OTE and EYDAP, 80%, ports and construction 70% while 60% moved to participate in metal workers.

About 15,000 workers and members of leftist organizations took part in the strike gathering held at 11 am in Syntagma Square. Despite the constant rain, the protesters staged a symbolic encirclement of Parliament until late afternoon.

It is a slooow motion train wreck. There is no unity in Greece and the Germans are heavy handed dorks. The Greeks will not allow the ECB or IMF to take over the fiscal administration of their country. Merkel is totally frazzed out and there are still three much larger countries for the ECB to deal with. Those countries are watching Greece play the ECB like a violin.

[HYPERTlGER]

The 1 year Greek bond hit 500%.

Basically the crops in Greece failed and Greece is starving...So they ask the EU for help.

The EU says sure...We'll give you 1 years worth of food to get you through the season...As long as you supply us with 5 years of food back.

There is zero way Greece is in any position to do anything other than to collapse to oblivion....and after the dust settles...rebuild.

It doesn't matter what anyone wants...You can only ever get what you need.

Greece is negative yielding...

All the debt inflated prices inside Greece are beginning to collapse...they will implode...All the employees inside Greece have zero idea what is going on...

hopefully they are net food producers or there will have to be food aid or mass starvation...imports into Greece of food will stop if the Greeks can't afford it...The division of labor will collapse as well.

The talking...Its smoke and mirrors.

There is zero way that Government officials that live off the population can do anything once the population has been sucked dry...

The population has been lied to their entire lives by the establishment...

[Pulp_Cutter]

Eventually, the Greek people are going to wake up and realize that they have plenty of people who want to work, plenty of people who need things, and that the only thing standing in the way of progress is the bankers.

[HYPERTlGER]

The only thing standing in the way of progress is the choice to take more than you give...

Or chop down trees faster than they regrow to sustain progress.

Yes bankers take more than they give to sustain their exisatnce...but so is everyone else within the take more than you give system...the credit system is just an effect of the choice to take more than you give.


The top or master becomes rich in power by taking more than they give from the bottom or slaves who become poorer in power by giving more than they take from the top.

[qqqbear]

Swiss central banker a euro crisis Nostradamus?
By Catherine Bosley | Reuters – Tue, Feb 7, 2012...

ZURICH (Reuters) - Nearly two decades ago, the man now likely to become the head of Switzerland's central bank foresaw the neighboring euro zone's troubles in a doctoral thesis, saying the likes of Ireland, Italy and Greece would not be able to control their debt.

Vice Chairman Thomas Jordan, who has served on the Swiss National Bank's governing board since 2007 and is currently interim chairman, also said a currency union gave some states the incentive to load up on debt and could lead to a banking crisis.

Jordan was thrust into the limelight last month when SNB chairman Phillip Hildebrand stepped down amid an uproar over a currency trade made by his wife.

In his dissertation for the University of Berne, published in 1994, roughly eight years before Europeans handled their first euro notes and coins, Jordan prophetically warned of strained public finances in exactly those countries that have actually needed a bailout or where debt levels seem particularly precarious.

"Achieving the 60 percent debt limit is hardly possible for Belgium, Ireland, Italy and Greece," he wrote. "Italy and Greece need to undertake major steps even to stabilize their debts."

http://news.yahoo.co...-153529911.html

[SuperCycleBear]

Very quickly: some of you will have seen that Greece’s tax revenue from VAT collapsed by 18.7pc in January from a year earlier.

Nobody can seriously blame tax evasion for this. It has happened because 60,000 small firms and family businesses have gone bankrupt since the summer.

The VAT rate for food and drink rose from 13pc to 23pc in September to comply with EU-IMF Troika demands. The revenue effect has been overwhelmed by the contraction of the economy.

Overall tax receipts fell 7pc year-on-year.

This is a damning indictment of the EU-imposed strategy. Greece is chasing its tail. The budget deficit is stuck near 8pc to 9pc of GDP because the economic base is shrinking so fast.




http://blogs.telegra...ussels-a-blush/




A "buy-the-rumor-sell-the-fact" event if there ever was one, imo.

[HYPERTlGER]

Cut the minimum wage = The top obtains the maximum wage by paying the bottom the minimum wage.