Submitted by Tyler Durden on 11/07/2012 17:21 -0500
Just in case someone thought Greece would voluntarily vote to cut out the funding - any funding - of free money from the ECB, via ELA or otherwise, regardless if only 10% of said money actually makes it into Greek society, we have some bad news: the Greek parliament once again voted to impose austerity upon itself. This includes numerous Yay votes by deputes who had said previously they would vote against the measure.
And yes, this time will certainly be different unlike all those other times. Or maybe not. In the meantime, the rioting, and daily strikes by everyone, most certainly the tax collectors, will continue indefinitely, until even more spending has to be cut to match the decline in revenues, and so on, until finally the singularity of no more revenues and no more spending is hit.
Until then, the main resurgent sponsor of any business venture will be, as reported earlier, local brothels.
Now the ball is back in Germany's, and Troika's, court to come up with further conditions to not disburse the €31.5 billion in addition aid, which judging by the EURUSD's exuberant response (+2 pips), will be quite copious.
Finally, for those confused about the Greek mindset, here is the only explanation you need: