Market Currents
Comments from Syriza's Tsipras - now charged with forming a governing coalition in Greece -...
-
Tuesday, May 8, 2012, 8:30 AM ETComments from Syriza's Tsipras - now charged with forming a governing coalition in Greece - hitting the tape: Greeks have voted against the barbaric bailout, he says, and any bailout pledges are now null and void. He asks the heads of New Democracy and Pasok to withdraw their pledges to the EU of support for the rescue terms.
Other date
Latest Global Articles
This news story has 20 comments:
What can and likely will happen is that none of these goof balls will be able to form a government and new elections will be held. By that time it may well be too late for Greece to meet the terms needed to receive the next tranch of bailout money. Watch for that because that's what really matters.
Can't wait until the same thing happens in the US. Maybe if a couple of the Blankfeins of this world are dragged into the street and made to fear for their lives like the little people who are being asked to shoulder their profiligate spending, a little sensibility will seep into their "all for me and nothing for the 'little people' menatility. Take a few of their mansions, give them a row house in Detroit, and let them experience the America that their fleecing of our government built. Things will change very quickly, trust me.
There was a large non-participation rate -35% or so- in the elections. That's very high for Greece (low for the US where our non-voting public reaches the mid-40s percentage).
Syriza has no hope at ALL whatsoever of forming a government.
ND and PASOK both know this. That's why they didn't bother even trying to set up a government. Syriza also knows this. And that's why they have nothing to lose by being loud and aggressive.
Part of the reason for the low voting rate is attributed to the lack of free/cheap subsidized busing and airfare to get folks to the polls, typical of most elections and non-existent in these because of the fiscal crisis.
Current expectations are:
Syriza fails to erect government, elections are held again, participation rate improves, - maybe helped by subsidized busing/airfare, but also because there is massive fear and uncertainty in the streets - ND/PASOK erect a government, things continue to muddle along.
1) The leftist parties gathered over 40 percent of the vote in a country who's economy has been essentially leftist for 30 years, and who's demographics clearly indicate that only free market reforms and deregulation can improve the situation eventually.
2) Staying in the Eurozone but annulling the Troika agreement
Sounds delusional,to say the least...Yet a large chunk of the voters believed in this..This is indicative of the maturity of the electorate to a large degree,unfortunately.
Perhaps some slight adjustments to the austerity measures might be possible, but not much,I would think.
In any case, it will be interesting to see how this plays out..
Overseas Greeks do not vote.
No voting stations exist outside of the territory of Greece. One does not simply walk into the local Greek embassy to vote.
This is why a large number of voters fly to Greece to vote every 4 years, and there used to be a partial subsidy for this transportation in past pre-crisis elections.
The stakes have been upped this time though, and it's possible the overseas voter will decide to fly back to the mother country in June in time to catch the summer surf and possibly even enjoy an ouzo right after casting the odd ballot.
As for default, I'm rooting for it...right after I pull out my last euro from my Greek bank account, LOL.
As long as your personal finances are ok and all the other Greeks that bought million £ London estates in cash. Swiss banks and Harrod's in London now employ Greek native speakers to service the influx of very wealthy Greeks that prefer paying in cash and living outside the €.
Everything that has been said in these comments reflects what is wrong with a country that should never have been allowed to be part of a European economic community: a bureaucracy unable to adapt to its clientèle, forces them to travel large distances and instead of becoming more efficient, relies on its citizens to fly in to vote. Flights subsidised through debt financing. Well to do citizens and politicians deflecting from their mismanagement and theft by blaming other nations, preferably Germany by feeding nationalistic mistrust and hatred. Hatred towards a country that was Greece's most important customer for its only functioning industry: tourism.
Greece is a third world agrarian economy, but spends like a first world economy based on some delusional historical entitlement.
Where is the collective responsibility? Where is the will to improve, to modernise, to take action for the communal good? The empathy for those less mobile and wealthy left behind in a country falling apart? Those that could make a difference are long gone, which is ironic considering the sheer volumes of patriotic b.s. that gets spouted by these ex-pats.
In a world defined by "me!", the Greek elite take the cake.
Nicely put and very true.
As to these LOL guys, nice way of making them contribute is simple: tax real estate. That's the thing they can't move.
The Italians do it, it works.