*PAPADEMOS SAYS EARTH IS FLAT

Posted by on Feb 12, 2012 in Uncategorized | No Comments

I remain curious why he is allowed to say that default is chaos without a shred of evidence, and countless examples to the contrary.  His job, the reason the EU instated him as puppet was to do their bidding, yet every statement he utters in an effort to get that accomplished is treated as “gospel” truth.

People wonder why so many Greeks are in favor of the plan, and the reason is no alternative has been presented.

Today we read that representatives who voted against the plan have been dismissed by the party leaders.  The “representation” has been completely reversed.  The one tells the masses what to do when in theory the masses tell the one what to do.  Greece, the “cradle” of democracy.

On the “bright side” we will get to see Germany and the rest back down from their demands that Greece fully and permanently support these changes, so we can get at least one more round of money.

Nothing about the vote is surprising, the reaction tomorrow from the EU will likely be all smiles.  The market may rally (though it feels very priced in), and then we can focus on the IIF’s PSI and how badly Greece misses its February projections by.  In the meantime, it seems like Portugal had their largest anti-austerity demonstration in awhile.

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 BN 02/12 22:16 *PAPADEMOS ENDS STATEMENTS TO PARLIAMENT IN ATHENS
 BN 02/12 22:12 *PAPADEMOS SAYS MORE MEASURES WILL BE TAKEN IF NEEDED
 BN 02/12 22:11 *PAPADEMOS SAYS LAWMAKERS VOTE TO DETERMINE IF GREECE IN EURO
 BN 02/12 22:10 *PAPADEMOS SAYS PLAN AIMS AT GREECE EXITING CRISIS IN NEXT 2 YRS
 BN 02/12 22:09 *PAPADEMOS SAYS PLAN WILL HAVE SHORT-TERM IMPACT ON INCOMES
 BN 02/12 22:09 *PAPADEMOS SAYS PLAN WILL REQUIRE RIGHT MANAGEMENT, COORDINATION
 BN 02/12 22:08 *PAPADEMOS SAYS FULL, PROMPT IMPLEMENTATION OF PLAN NOT EASY
 BN 02/12 22:08 *PAPADEMOS SAYS MAIN POINT OF PLAN TO MAKE GREECE PRODUCTIVE
 BN 02/12 22:08 *PAPADEMOS SAYS MAIN POINT OF PLAN TO MAKE GREECE COMPETITIVE
 BN 02/12 22:07 *PAPADEMOS SAYS DISORDERLY DEFAULT LEADS GREECE TO CHAOS
 BN 02/12 22:06 *PAPADEMOS SAYS ONLY REAL OPTION TO PLAN IS CATASTROPHIC DEFAULT
 BN 02/12 22:04 *PAPADEMOS SAYS LOWERING MINIMUM WAGE WILL BOOST EMPLOYMENT

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Papademos Says Main Point of Plan to Make Country Competitive
2012-02-12 22:16:20.866 GMT
By Marcus Bensasson and Eleni Chrepa
     Feb. 13 (Bloomberg) — Greek Prime Minister Lucas Papademos
said the country’s economy continued to face problems of
competitiveness, deficits and the current account balance and
the main point of the austerity plan is to make Greece more
competitive and productive, Papademos said.
     Lowering the country’s minimum wage would boost employment,
and pension reform is necessary to ensure the viability of the
pension system, Papademos said in comments broadcast live on
state-run Vouli TV.
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To contact the reporter on this story:
Marcus Bensasson in Athens at +30-210-741-9077 or
mbensasson@bloomberg.net
To contact the editor responsible for this story:
Tom Stoukas at +30-210-741-9072 or
astoukas@bloomberg.net