Greece Votes for Tougher Times Ahead

The Greek people have decided they haven't suffered enough - electing to remain under the boot of international banksters who dole out bailouts like candy to starving children.

New Democracy leader Antonis Samaras summarised these five things about saving Greece.

(1) His party would honour commitments to the EU.
(2) It was a victory for all Europe.
(3) A call for all political parties that share objectives to form government.

(4) Determined to do what it takes and do it fast!

(5) *Sacrifices of Greek people will be reflected* ( Unless he changes his mind.)

That message is not going to play well with Greek voters given his pledge to change conditions. Apparently the Greek people are as dumb as the American people. Given the immense suffering they have had to endure due to austerity measures, you would think they would recognise yet another wolf in Greek's clothing.

The results of the election look like this:

New Democracy will receive 29.53% of the vote, equivalent to 128 seats.
Syriza will receive 27.12% – 72 seats.
Pasok will receive 12.2% – 23 seats.
Independent Greeks will receive 7.56% – 20 seats.
Golden Dawn will receive 6.95% – 18 seats.
Democratic Left will receive 6.23% – 17 seats.
Greek Communist Party will receive 4.47% – 12 seats

There will be seven parties in the next parliament.

With so many cooks in the kitchen - all cooking different dishes, the question remains, just which dish will dominate - or will a food fight break out.

To really understand what we are talking about here, let me post some numbers to illustrate the depths of the Greek depression. The country is poised to break another world record (post WWII, western nations) this year, which will be added to the other three it has already broken:

1) Years of recession: Five, with a certain sixth next year.
2) Depth of recession: -23% or -24%, coming close to breaking Latvia’s record of -24%.
3) Public expenditures cuts: Over -35% so far, an unprecedented number, which Krugman called “insane”.
4) Deficit cut: 8%, just in the first 2 years.

What we are witnessing is a social experiment of how much a nation can take before it breaks down completely.

Looking at these numbers, and with the Troika insisting on moving forward with the same policies, within less than a year the ND-led coalition will collapse and Greece will have to exit the EZ. With talk of Spain now needing “internal devaluation” while the unemployment rate is already at 24-25% and youth unemployment over 52% (those are the official numbers), Spain is walking on Greece’s footsteps.

This is utter madness, and unless debt forgiveness enters the policy proposals really soon for the whole of the periphery, anyone dreaming that the Euro-Zone will survive with some sort of European Central Bank printing is delusional. Unless we go the hyperinflation printing-on-steroids-route, which could work for a few more years until everyone is totally impoverished.

Everything will get worse before it gets worse.

This, the European elite is calling solidarity. All the main parties duly parroted what the voters wanted to hear, making for a fantasy election, a make-believe election, a fingers-in-my-ears-I-can't-hear-you election. The only list which was honest about the necessary cuts – a coalition of three liberal parties – failed to gain a single seat.

The Euro zone's finance ministers said the outcome should allow for the formation of a government that will carry the support of the electorate to bring Greece back on a path of sustainable growth.

"The Euro group acknowledges the considerable efforts already made by the Greek citizens and is convinced that continued fiscal and structural reforms are Greece's best guarantee to overcome the current economic and social challenges and for a more prosperous future of Greece in the euro area," the statement said.

"The Euro group reiterates its commitment to assist Greece in its adjustment effort in order to address the many challenges the economy is facing," said the statement issued after provisional results of Greek elections showed the pro-reform New Democracy won the ballot.

The statement said representatives of the European Commission, the European Central Bank and the International Monetary Fund -- the so-called Troika -- would return to Athens to discuss EU/IMF emergency loans and reforms as soon as there was a Greek government in place.

The European Union and International Monetary Fund have insisted that the conditions of the 130 billion euro bailout accord agreed in March must be accepted fully by a new government or funds will be cut off, driving Greece into bankruptcy. In other words the IMF is using the same the sky is falling tactic that drove America to bailout the banksters. It's a take our money or die mentality.

Why wouldn’t the Greek people be almost unanimously in favor of defaulting?

For the same reasons that Ireland, Portugal and Spain don’t want to default..... Yet.

Same reason we bailed out our banks. Fear. Well, fear of danger never excluded danger. Time to cross that ditch. Worldwide.

The longer we wait, the more casualties there will be.



Bend over some more Greece.

 Or… is this the idea?

It's a game of hot potato and musical chairs with the most players, but the Greek people won't get to play.


Welcome to the Mad Hatter's real life tea party.


The undeserving maintain power by promoting hysteria - Frank Herbert.


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