Ok...Greek election

[BlinkingDuck]

Looks like new coalition government has strongly pledged to stay in the Euro.

Ok.

Now...is there anyone....ANYONE....anyone ANYWHERE....that doesn't think the Greeks will have more trouble in the near future?!

Therefore, when another Greek crisis 'surprises' the markets...it shouldn't fall because it is factored in....right...RIGHT? I mean, is there anyone that will invest now that doesn't think this will happen?

Speaking of crisis...let me put on my psychic hat....lemme see...I predict....SPAIN will have more trouble in the near future.

Whoa, Duck...going out on the limb here! So, when it happens, will it take any investor by surprise? So it shouldn't affect the markets, right?

[Baron Greenback]

Should ellipses be three periods or four? Let's find out by examining the OP.

[Baron Greenback]

Well, it looks like ellipsis was invented by the Greeks. I imagine that they used them properly back then. It's a shame that nowadays they are mostly used by people falling nose-down drunk on a keyboard.

[Baron Greenback]

The Greeks didn't have a random caps-lock, unfortunately. The things that Thucydides could have done *sigh*. The points he could have over-emphasised...

[BlinkingDuck]

Originally Posted by Baron Greenback

The Greeks didn't have a random caps-lock, unfortunately. The things that Thucydides could have done *sigh*. The points he could have over-emphasised...

Well, aren't you the smartest little thing!

[foolsguinea]

Pfft. Smart-aleck newbies.

[billfish678]

Oh bullshit.

I can see Plato typing "WAKE UP SHEEPLE!!!!" like a motherfucker if they had the net back then. That and a shitload of lame cowworker jokes and numerous links to cute kitten photos.

[Baron Greenback]

Atlantis, man. Atlantis.

[Max the Immortal]

Originally Posted by Baron Greenback

Should ellipses be three periods or four? Let's find out by examining the OP.

The convention is that an ellipsis is four periods when it's directly before or after an arbitrarily all-capsed word, but three periods otherwise. I wouldn't be too harsh on the OP, though; when you're dealing with such high densities of ellipses and all-capsed words, you're bound to miss a few even if you proofread.

[Try2B Comprehensive]

In the World of Forms everything will continue on smoothly as before. Here on Earth it'll be a big clusterfuck for sure. But relax. Build up a cash position now and get ready to buy after the big devaluation. I think that is what smart investors will be watching for.

[Baron Greenback]

Originally Posted by Try2B Comprehensive

In the World of Forms everything will continue on smoothly as before. Here on Earth it'll be a big clusterfuck for sure. But relax. Build up a cash position now and get ready to buy after the big devaluation. I think that is what smart investors will be watching for.

Indeed. Also, fuck BP.

[Baron Greenback]

Originally Posted by Baron Greenback

Indeed. Also, fuck BP.

Or maybe buy BP? I can't really remember your position.

[Alessan]

I'd listen to you, but you're all just shadows on a wall. In a cave.

[BrainGlutton]

Originally Posted by BlinkingDuck

Looks like new coalition government has strongly pledged to stay in the Euro.

Ok.

Now...is there anyone....ANYONE....anyone ANYWHERE....that doesn't think the Greeks will have more trouble in the near future?!

Therefore, when another Greek crisis 'surprises' the markets...it shouldn't fall because it is factored in....right...RIGHT? I mean, is there anyone that will invest now that doesn't think this will happen?

Speaking of crisis...let me put on my psychic hat....lemme see...I predict....SPAIN will have more trouble in the near future.

Whoa, Duck...going out on the limb here! So, when it happens, will it take any investor by surprise? So it shouldn't affect the markets, right?

Whom or what is being Pitted here?

[Der Trihs]

Originally Posted by billfish678

I can see Plato typing "WAKE UP SHEEPLE!!!!" like a motherfucker if they had the net back then.

That won't turn out well.

[BrainGlutton]

Originally Posted by Alessan

I'd listen to you, but you're all just shadows on a wall. In a cave.

Well, you are, but I'm not.

[SpaceDog]

Look I know this is the pit and all but we could, ya know, try and address the actual content of the post and not get into a smarmy pissing match over grammar.

To address the OP. The last news I heard wasn't clear about who would be able to form a government, so it's still possible that an anti-bailout may end up governing and taking the country out of the Euro.

Neither is a particularly good scenario -- I'm of the opinion that Greece should have defaulted ages ago and returned to their own currency. But the majority of Greeks want to stay in the Euro (just without all the sweeping cuts). And it is the home of democracy after all.

The Euro is fucked tho'. I think most people privately realize that now and any country that doesn't have a plan to return back to it's own currency deserves the kicking it gets in the Euro blows up. In fact there's speculation that a lot of the bailouts and money shuffling aren't (just) to keep the Euro afloat but to buy enough time for people to plan a structured break-up if necessary.

The Euro can potentially recover, but it needs a massive upwards swing in growth and that's just not happening. We may get to a magic point were faith is restored, growth returns and the Euro drags itself out of a hole. This would probably require much tighter government union, something that's never going to happen quickly -- if it happens at all.

Or it may lurch on from crisis to crisis. At the moment the markets aren't convinced and unless they change their mind in a big way the Euro is fucked.

Personally I'd buy shares in companies that print currency.

[BrainGlutton]

Originally Posted by SpaceDog

To address the OP. The last news I heard wasn't clear about who would be able to form a government, so it's still possible that an anti-bailout may end up governing and taking the country out of the Euro.

Nitpick: euro. Lower-case "e."

As for the election results:

Greek political parties supporting a bailout for the country have won enough seats in the country's latest parliamentary elections to form a joint government.

Near complete results early on Monday showed the conservative New Democracy party gaining about 30 per cent of the vote and 129 seats in the 300-seat parliament, including a bonus 50 seats for finishing first, while the pro-bailout Socialist PASOK party came in third with about 12 per cent and 33 seats.

The leftist Syriza party, which had become the standard bearer for the anti-bailout cause, gained almost 27 per cent and 71 seats, while the far-right Golden Dawn party had 6.9 per cent of the vote, earning 18 seats.

Sunday's vote, which followed an inconclusive ballot on May 6, was seen as crucial for Europe and the world, since it could determine whether Greece was forced to leave the joint euro currency, a move that analysts say would have potentially catastrophic consequences for other ailing European nations and the global economy.

"The Greek people today voted for Greece to remain on its European path and in the eurozone," said Antonis Samaras, the New Democracy leader, adding that voters chose "policies that will bring jobs, growth, justice and security".

Al Jazeera's Barnaby Phillips, reporting from Athens, said the demographic division over economic policy between different age groups was quite dramatic, with younger voters far more likely to vote for Syriza, while older Greeks were more conservative.

So Greece will be keeping the euro. For now.

[Rune]

Originally Posted by Baron Greenback

The Greeks didn't have a random caps-lock, unfortunately. The things that Thucydides could have done *sigh*. The points he could have over-emphasised...

Ancient Greek was written in all CAPS (andnospacing). The boring small letters is a later invention.

[SpaceDog]

Originally Posted by BrainGlutton

Nitpick: euro. Lower-case "e."

Really. I had never realized or noticed that. Thanks. (Seriously)

Originally Posted by BrainGlutton

As for the election results:

So Greece will be keeping the euro. For now.

Yeah. That's a bit of an odd result actually, I'm trying to see where the swing came from but comparing the results to those here isn't that clear. I'm waiting for the nutjobs to start shouting about voter fraud.

If the vote breakdown is correct more that 50% of the (voting) Greeks voted for anti-bailout/anti-austerity measures. If the new government takes this back to Brussels and negotiates a better settlement then maybe it's all well and good. And that would broadly reflect the will of the people -- so in general I'd be happy with that.

I personally believe that all the bailouts have been good money after bad, but I accept that the currency falling apart now would cause a lot of immediate pain to ordinary people. I'm not sure that long term it wouldn't be the best option.

[Alessan]

Originally Posted by BrainGlutton

Nitpick: euro. Lower-case "e."

Yeah, currencies are always lower case. It's a very common mistake.

[Ken001]

In amongst the noise of elections and the complexity of loans we tend to forget money is very simple. One euro buys one loaf of bread in France. But only half a loaf in Sweden. Two loaves in Spain. And four loaves in Greece.

The same euro buys more in Greece so if you want retsina or hours of sunny holiday...you'll go there.

And Greece will recover. Slowly. Painfully. And somewhat chastened. But the cradle of political, scientific, and philosophical, thought will endure.

For the doubters - name me one country which has disappeared in the last 100 years.

[cckerberos]

Originally Posted by Ken001

For the doubters - name me one country which has disappeared in the last 100 years.

Czechoslovakia?
Yugoslavia?
East Germany?

I'm afraid I don't see the significance, though.

[Alessan]

Originally Posted by cckerberos

Czechoslovakia?
Yugoslavia?
East Germany?

I'm afraid I don't see the significance, though.

Not coincidentally, those were also countries created over the past 100 years.

[Koxinga]

I was wondering two years ago why everyone here seemed so blasé about Greece. If the election had gone the wrong way, the ostensible European Union was talking about re-imposing internal border controls and there's been open speculation about the possible return of fascism to some parts of the content. Seems to me like it could still very well happen.

[Novelty Bobble]

Originally Posted by Alessan

Not coincidentally, those were also countries created over the past 100 years.

One would think that the lessons learned from the creation and subsequent dissolution of such constructs would be uppermost in the minds of the Eurocrats. Apparently not.

Anyhow, The election has changed little. No coalition has yet been formed (and who knows if that will be possible). Even if that can be approved there are still monumentally difficult austerity measures to impose to an unreceptive population.
The economic situation hasn't changed and the political pressure and expectation from the rest of Europe is likely to only increase.

All that has happened is that a election has occurred from which there is no clear winner and the left-leaning anti-bailout party had increased it's share of the vote.
I don't see that as a cause for optimism.

[Capt. Ridley's Shooting Party]

I can't imagine any coalition that's formed being stable: this whole mess will be repeated soon. Syriza have got what they wanted: a strong second place position with the rest of the parties not wanting to join them in coalition (ND), or going back on pre-election promises not to form a coalition without them (PASOK). They'll be gadflies to whatever administration is formed and will only increase their vote at the next election.

[TriPolar]

Greek Election

Is the what the kids are calling it these days?

[Try2B Comprehensive]

Originally Posted by Baron Greenback

Indeed. Also, fuck BP.

Well said.

What am I, or any of you, supposed to do about Greece? We can only watch and see what happens, which will probably be a hit to the world economy, in one of two flavors. Great.

Edit: looks like the flavor got decided.