In April 2010, they were saying Greek default was not going to happen. It took just over the year for Greece to lie on its economic deathbed, the death rattle in its throat. And now, the "colleagues" agree that default is inevitable.

Yet they are going to ring fence the collapse and prevent the spread of contagion. And the reason we should believe them is?

View full article here

"I don't believe it!" - Victor Meldrew.

From the piece you quoted:



Swedish newspapers have been a little more forthright, and quote an anonymous (you bet!) powerbroker who attended the IMF/World Bank meeting who said:



The German Bundestag has not agreed to the initial (second) package yet which is supposed to contain those €440 bn that will then be magically (and without any further parliamentary involvement of course) converted to five times as many euros. Can you say leveraged? and convoluted, no sorry, structured financial products!? I thought we'd had enough of those.

But, but, at least a silver lining in today's news. Suddenly everyone seems to be open about the underlying problem - it is not a question of saving Greece or even Portugal, Spain or Itlay. No it is first and foremost the French and German banks that have to be rescued!!!

(Yes, other banks as well [eg Unicredit, Dexia,])

M

They still haven't really got the message ... the underlying problem is the euro, and they are still trying to save it - even keeping Greece in the single currency. As predicted, they will bring down the entire western economy rather than relax their grip on this political project. We are domed.

Come on, we can't expect too much of the little dearies. To grasp one evident truth a day is more than enough. If they can keep up that rate we may yet be spared the total collapse. However, (and as I've said before) I think the euro will break up, but in the worst possible fashion (and maybe not as soon as we may hope). I wish we were all domed ( ), but even us non-euro countries will be severly damaged by the economic and political fallout once our oligophrenic crop of politicians have played the game to its inevitable end.

LOVE IT!!!!!!!!!!!

http://dictionary.reference.com/browse/oligophrenic

From ZeroHedge: More Greek Platitudes As IMF Faces Shortfall and Deflects Back to ECB

The sentence that got me to sit up and take notice. (ZH gets it!)



Yes, the politicians in most of the EU countries (and elsewhere) are lacking both morals and intelligence, but one wonders when it will dawn on them that leaving the euro as number two will be much more expensive than doing it as the first one. As Tyler Durden writes this knowledge ought to weigh especially heavily on the Portuguese and Germans.

PS: Oligophrenic - sometimes a medical degree comes in handy!

I have to say most of my thoughts on this business these days drift off the immediate theme and inevitably end up focusing on taking revenge. I'm concerned that every one of the bastards responsible, from the greatest to the smallest, gets a full and bloody measure.

Meanwhile, to lighten my load, I could do with an update from Der Füherbunker —you know, one of those YouTube Downfall jobbies.


Mikgen,

If we rip their heads of and crack their skulls open we could arrange for you to take charge of the research into the resulting pile of brain matter. If you can spot the problem I'm sure there'd be a Nobel Prize in it for you, actually two: one for Medicine and another for Peace, although you might have to share the latter with those of us doing the grunt work wielding the machetes.

Apologies if I've bored you all with the odds that William Hill have been offering on "The Eurozone to break up (one or more countries to use original currency before end of 2012)".

For those not so bored: a month ago the bookie was laying 5/2. So, if you put on 100, you'd make 250 plus your 100 stake. Then a week or so ago it was 7/4 - only 175 profit plus your stake back.

And now?

"Sorry, betting no longer available on this event"

http://sports.williamhill.com/bet/en-gb ... %2dUp.html

Clarence,



Very interesting, but cowardly of William Hill to not making it possible for us to make a winning.

EdCase,

Very tempting, and definitely a worthy scientific quest, but a Peace Prize? Haven't you forgotten that it still the Norwegian parliament who decides the recipients of that Nobel prize? I think those who liberate us from the EU and the euro have as big chance at winning the peace prize as Anders Breivik.

PS: EdCase have you been speaking to John Archer lately? You won't fool me. The machete is one of John's favourite tools.

Mikgen,

Yeah, that Archer fellow tells me there aren't enough hours in the day to get up early enough to fool you. And you know what —I believe him.

You're right about the machete but I think you'll find he prefers a cavalry standard single action army colt — he's a sucker for Americana. It's just that it's not much good for cutting heads off. He'd use his Bowie knife only he claims he could only do one at time with that. He prefers to take an 'industrial' approach in this instance as he'd like to finish before tea time.

By the way, he sends his warmest regards.

If I can help in any way .....

Sharpen your pitchforks!

To break up the Eurozone is to raise the curtain on the first act of Armageddon, no votes in that job. All the politicians are waiting for someone else to do the dirty jobs, and as soon as the first act is underway they will be out to impress their electorates about how bravely they can stick knives into a corpse.

Great! A shit storm just in time for christmas. Err, " we have to find a way of making each euro into five" massive inflation, public spending cuts, and social breakdown will result. Throw in the possibility of another `47 or `63 winter and it all gets very real.


They can talk all they want, but there are only two choices: PRINT OR DEFAULT- SIMPLES!