Friday, February 10, 2012

Friday Open thread - Scenes From Greece !

Greece Reacts To the Games Played In Brussels !

Protesters are gathering outside the Greek Parliament in Athens. Photograph: Simela Pantzartzi/EPA
12.46pm: This second picture from Athens shows a petrol bomb exploding near riot police.
Greece  strikes: A petrol bomb explodes near riot police in AthensA petrol bomb explodes near riot police during protests against planned reforms by Greece's coalition government in Athens. Photograph: Yiorgos Karahalis/Reuters
We don't yet know whether there were any injuries.
12.42pm: We have more pictures from today's protests in Athens.
Greece strikes: Demonstrators are detained by riot police
This image shows demonstrators who have been detained by riot police.
12.38pm: An independent MP named Milena Apostalaki (formerly of Pasok) has announced that she will not vote for the austerity measures when they come before the Greek parliament (probably on Sunday).
Apostalaki's move comes amid mounting speculation that MPs will be ordered to vote in favour of the package.
That, Helena Smith says, will be very unpopular -- many MPs want to vote against the deepy unpopular package.
12.26pm: The euro has fallen sharply since Karatzaferis began his press conference -- losing almost a cent against the US dollar to $1.3204.
LAOS leader says will not vote for debt deal

 Karatzaferis calls on PM to replace PASOK MPs in Cabinet with technocrats
The leader of the rightwing Popular Orthodox Rally (LAOS), Georgios Karatzaferis, on Friday called on Prime Minister Lucas Papademos to reshuffle his government, installing technocrats in the place of Socialist PASOK ministers, adding that he would not approve a new debt deal agreed between the government and foreign creditors but neither would he withdraw from the coalition as he had threatened to do earlier this week.
"The creditors are asking for 40 years of submission,» Karatzaferis told a press conference. «Greece will not give itself up,» he said, adding that «Greece can survive outside the EU but cannot survive under a German boot.»
Insisting that the creditors' insistence on cuts to auxiliary pensions had been the last straw, he said that had the cuts passed, the leader of the mission of the International Monetary Fund in Greece, Poul Thomsen, would be 'persona non grata' in the country.
The rightwing leader accused the creditors of trying to «deprive Greece of the last trace of national sovereignty,» and said that the country should be given a five-year grace period to pay off its debts at a favorable interest rate.
karatzaferis did not determine whether his party's 16 MPs to approve new austerity measures in a parliamentary vote expected on Sunday or Monday. If his deputies vote down the bill, the government will retain a comfortable majority of 236 in the 300-seat House. But his party's votes would be useful as several coalition MPs in both PASOK and New Democracy have indicated that they object to certain measures and may vote against them.
Speaking an hour before a scheduled Cabinet meeting, Karatzaferis repeated an earlier demand for Papademos to replace ministers of PASOK with technocrats.

     Good Morning ! After the games played By Germany , The EU , the IMF - are we shocked today that Greece is not reacting kindly to being toyed with ? No , the reaction should have ben expected - so let's assume that it was expected . Is this what Germany , the IMF and EU truly wanted - a greek revolt , the rejection of the ever changing bailout demands from the Troika , a reaction to the increasingly public humiliation ? And wait until Greece digests the German FM Schauble's sidebar discussion with FM Gaspar of Portugal ! That will go over as well as the  cup of hemlock Socrates sipped ! Check the link - if you speak portuguese , you can follow the conversation by reading the original piece in Pais ! 

     Of course , why in the world would Gaspar believe , let alone trust FM Schauble ? After watching the treatment games played with the greeks , is he naive enough to believe Portugal will get a different deal ? What Gaspar should have taken from the Greece situation was that after negotiating endlessly with the Troika , the Troika let PM L-Pap and the greek party leaders batter themselves bloody , expend their political capital , exhaust the patience of their party MPs - and then after meeting the Troika terms , Juncker , Schauble and Lagarde in term tell Greece they haven't done enough , they will need to cut more , they will have to find spending cuts above the prioe Troika demands , they give them another deadline and three conditions to meet or else ? In short , the Troika totally shoved the deal up their..... nose ( or you pick another place if you care to do so ) . That is the lesson for Portugal , Ireland , Spain and Italy - no matter how much you play the lapdog role ( Ireland and Portugal ) , regardless of whether you silently standby and hope ( Spain ) or whether you think you're more important then you really are - even if you present still can schedule a meeting with Obama  that actually occurs and he pats your head and smiles at you ( PM Monti and Italy ). 

    Meanwhile , today markets are shocked that bad news can actually make stocks in Europe and US Futures go down ( naturally the sill melt up since the end of the year has provided a nice cushion for whenever a meltdown occurs ) , the euro has shocked traders by actually showing it can go down on shocking bad news , gold has sold off as the hopium for Greece has met the light of day , amazing a two day strike is viewed as bad news today and bloody protest and fighting police isn't a cause for celebration ? who could have seen this coming ? Oh well , give things a few minutes - some joker will start pumping the notion a greek default is a good news as QE 3 will be just around the corner ! Lol  -  And on that note , what's on your mind today ?