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Thread: Greek Coalition Government to collapse within days

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    Default Greek Coalition Government to collapse within days

    The fragile coalition government in Greece was all but certain to fall apart within a year. Developments today indicate that this arrangement has terminally fractured and fresh elections are now all but certain before the year is out.

    What the news really is, is that with Greece poised to vote on critical labor reforms (read more layoffs) next week, which must be passed in Parliament with a majority vote in order to get the next Troika bailout tranche, the Samaras-led coalition just lost one of its three members, after the Democratic Left announced it would take its 16 votes and vote against any further austerity. In doing so it has effectively joined Syriza and any other anti-bailout powers, and has made certain that yet another Greek election is imminent, one which will finally see the rise of the "anti-memorandum" forces on top, and finally launch the 3 year overdue departure of the Greek ferryboat from the monetary landmass, with even more dire consequences for the USS EURtanic.
    Greek Ruling Coalition Collapses Days Ahead Of Critical Vote | ZeroHedge

    This raises the issue of the timeline of the inevitable Greek exit of the Eurozone and with this uncertainty now raised, the probability of a Grexit within the next 3 months has substantially increased.
    “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” - Friedrich A. Hayek

  2. #2
    Politics.ie Member sport02's Avatar
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    Even though DL have signalled they will vote no, mathematically Samaras will still hold a majority.
    Also Venizelos from Pasok looking for more concessions, anything could happen between now and the vote
    but I immediately thought when I saw this tweet that Zerohedge might be jumping the gun.
    Last edited by sport02; 30th October 2012 at 06:22 PM.

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    Politics.ie Member Ulster-Lad's Avatar
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    There are some relevant posts here CS if interested.

    http://www.politics.ie/forum/greece/...ml#post5963319
    ‘The Great only appear great because we are on our knees: Let Us Rise!’ “ (James Larkin)

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    Politics.ie Member Analyzer's Avatar
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    We're alright.

    Baldy Noonan says that we can manage without Feta cheese.
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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    Politics.ie Member Mountaintop's Avatar
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    No mention of it over on www.politics.gr, ....apart from the odd joke on the 'euro still accepted for my glass of ouzo this morning' thread.

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    That Nobel Prize is gonna look pretty funny when the EU Peacekeepers are deployed onto the streets of Athens,

    I can just hear Barrosso,

    "we have deployed troops in Athens in order to protect the Greek people from, em, themselves"

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    Politics.ie Member Crazy horse 6's Avatar
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    The sooner Greece, Ireland and Spain are kicked out of the euro zone the better.

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    Politics.ie Member Al.'s Avatar
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    Quote Originally Posted by Cassandra Syndrome View Post
    The fragile coalition government in Greece was all but certain to fall apart within a year. Developments today indicate that this arrangement has terminally fractured and fresh elections are now all but certain before the year is out.
    What the news really is, is that with Greece poised to vote on critical labor reforms (read more layoffs) next week, which must be passed in Parliament with a majority vote in order to get the next Troika bailout tranche, the Samaras-led coalition just lost one of its three members, after the Democratic Left announced it would take its 16 votes and vote against any further austerity. In doing so it has effectively joined Syriza and any other anti-bailout powers, and has made certain that yet another Greek election is imminent, one which will finally see the rise of the "anti-memorandum" forces on top, and finally launch the 3 year overdue departure of the Greek ferryboat from the monetary landmass, with even more dire consequences for the USS EURtanic.
    Greek Ruling Coalition Collapses Days Ahead Of Critical Vote | ZeroHedge

    This raises the issue of the timeline of the inevitable Greek exit of the Eurozone and with this uncertainty now raised, the probability of a Grexit within the next 3 months has substantially increased.
    The EU will either appoint another government leader for them (remember that? funny how almost not a soul in Ireland regards that as dangerous precedent; maybe if it happens here it'll suddenly be dangerous?) or just rule them directly from Brussels.
    Quote Originally Posted by Crazy horse 6 View Post
    The sooner Greece, Ireland and Spain are kicked out of the euro zone the better
    And whose side are you on, kamerad?
    "Laws were most numerous when the state was most corrupt." —Tacitus

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    Politics.ie Member odlum's Avatar
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    *yawn*

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    Politics.ie Member Al.'s Avatar
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    Quote Originally Posted by odlum View Post
    *yawn*
    Not Stormfronty-enough for ye?
    "Laws were most numerous when the state was most corrupt." —Tacitus

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