Monday, 22 June 2015
The last post on Greece before the Euro exit?
Interestingly today the EU Commission - the hotbed of fundamentalists who put the EU before everything (except their wallets which are supported by it) is making all sorts of soothing noises in the EU media about how Greece's new proposals are just great and a deal can be sealed.
On the other hand the IMF is in a quandary - the IMF supports real basket case countries on the rule that it must not actively support bust countries and piss away the wealth of the world's poorest countries into basket case situations. Unfortunately for Greece, it current falls foul of this basic criteria.
As such the IMF should technically force a default here is Greece fails to pay. That means the EU will have to find the money to pay the IMF at the end of the week. They will do this via the ECB and possibly by the European Stability Mechanism which was sort of designed to enforce the will of Eurofudge.
I don't know whether the Greek plan is in fact new or just the latest in the bizarre rantings of the mental communists the Greeks elected to run their show.
I guess we will find out today whether the mother of all Euro Fudge is being baked or if even the EU Commission has lost its power over Germany and the will of the majority of EU citizens to stop throwing good money after bad.