The Banks' Nightmare Is Coming True: Greek Left Calls For Anti-Bailout Coalition + First Official Greek Exit Polls: Pro-Bailout Parties Plunge; Anti-Bailout Radical Left, Neo-Nazis Soar

Submitted by Tyler Durden: 

The only saving grace of the earlier horrendous Greek parliamentary vote was that, based on very preliminary results New Democracy and Pasok would be able to form a coalition government with precisely 151 seats needed in parliament to give them status quo powers. However, according to a more recent re-rack of the votes (New Democracy 18.9%, 108 seats, Pasok 13.4%,41 seats, Syrizia: 16.6%, 51 seats, and all others), this assumption is now in jeopardy as the two pro-bailout parties will have just 149 seats in the new parliament, or not even a full majority. Why is this problematic? Because virtually every other party in the new parliament, and there may be up to 10 there including the New Dawn, have voiced their opposition to the bailout of Greece, which as everyone knows is merely a bailout of Europe's insolvent banks using Greek taxpayer funds as a conduit. And, adding insult to injury, Reuters now reports that "Greek leftist leader calls for anti-bailout coalition." It appears that finally, after many years of delays, the anti "bailout" genie is finally out of bottle...

From Reuters:

Greece's Left Coalition called on Sunday for an anti-bailout coalition, saying the country's general election showed that austerity policies had been soundly defeated and a peaceful revolution ushered in.

The Communist KKE - which believes Greece should abandon the euro - immediately rejected Tsipras's call for a leftist alliance.

"Mrs Merkel needs to understand that austerity policies have suffered a huge defeat," said Left Coalition leader Alexis Tsipras, referring to German Chancellor Angela Merkel.

"With their vote, Greek people gave a mandate for a new dawn in our country with solidarity and justice instead of barbaric bailout measures."

Tsipras' party has emerged as the surprise star of the election and is on track to finish in second place with 16 percent of the vote, according to early results. The success comes at the expense of the big pro-bailout parties, New Democracy and PASOK, who were punished for backing austerity.

The KKE are projected to take about 8.5 percent of the vote.

"The parties which signed the bailouts without Greek people's consent are now a minority," Tsipras said.

Watch for this Greek development to metastasize to all other PIIGS countries. Europe's bankers better pray that Draghi, with Goldman and the Fed's blessing of course, announces some form of monetary intervention soon or things will get ugly.

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First Official Greek Exit Polls: Pro-Bailout Parties Plunge; Anti-Bailout Radical Left, Neo-Nazis Soar
As we expected, the previous unofficial poll forecasts were total rubbish, and according to exit polls from NET TV, the results are as follows:

• New Democracy: 17-20%
• Pasok: 14-17%
• In a stunner, Syrizia, or the coalition of the radical left - a vehement anti-Bailout party - gets more votes than the ruling PASOK party: 15.5%-18.5%
• Independent Greeks: 10-12%
• Finally, and not surprisingly in the aftermath of the French results, the ultra right Golden Dawn gets 6-8% of the vote and will make it into Parliament

Tallied across, up to 60% of the new parliament will be anti-bailout (at least according to exit polls), and hence "Domino toppling." Good luck with that pro-bailout coalition government. Needless to say these results are very ugly and make any prospect of a pro-bailout coalition cabinet virtually impossible. Suddenly the fate of the European experiment is in the hands of the ultra right and the far left - yup, Neo-Nazis will determine the future of Europe. How quaint... again - congratulations Europe.

"So Neo-Nazis in Greece, Pirates in Germany: the world has officially lost it."

For much more on the implications of this stunning success of the anti-bailout powers, see here and here.

And to paraphrase Schrodinger Schauble:

"If Greek voters were to vote for a majority that does not honour those agreements, then Greece will have to bear the consequences of that" - RTRS

Here come the consequences - Mikaël Charozé will be a very busy man tonight.

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More exit polls updates from Athens-News:

Public Issue for Skai


(min-max, in %)

• New Democracy 20.5-24.5
• Radical Left Coalition (Syriza) 14-18
• Pasok 13-17
• Communist Party 7-10.5
• Independent Greeks 7-10
• Democratic Left 6-9
• Golden Dawn 5-8
• Ecogreens 2-4
• Popular Orthodox Rally (Laos) 2-4
• Drasi 1-3
• Democratic Alliance 1-3

7pm Here are the results of the exit polls

(min-max, in %)

• New Democracy 17-20
• Radical Left Coalition (Syriza) 15.5-18.5
• Pasok 14-17
• Independent Greeks 10-12
• Communist Party 7.5-9.5
• Golden Dawn 6-8
• Democratic Left 4.5-6.5
• Popular Orthodox Rally (Laos) 2.5-3.5
• Democratic Alliance 2.5-3.5
• Ecogreens 2.5-3.5
• Drasi 2-2.8
• Recreate Greece 1.9-2.5
• Anticapitalist Left 1.2-2
• Others 2-4

And just to confirm that the world is losing it, in the Schleswig-Holstein election, according to ARD, after the CDU (with 30.5%), SPD with 29.5%, Green Party with 14%, and FDP with 8.5%, we get... the Pirate Party 8%.

So Neo-Nazis in Greece, Pirates in Germany: the world has officially lost it.

Source