Friday, February 10, 2012

Oncoming Owl oikonomia...

These Owls, but their 'oncoming' has been offset once more.  "If someone is insolvent, you should not lend him more money. That's an old truth, but a sound one.". Andrew Lilico in the DT sets out the worrying resolution to the Greek situation (I am in Athens and the place has been crawling with armed police for the last few days, demonstrations and strikes par for the course.) Greece is insolvent and has been for a while;
"If you have borrowed more than you can repay from the bank, but – instead of trying to make terms with the bank – you keep yourself going for a short time with payday loans at interest rates of 1000 per cent, your bank will be displeased"...
Oikonomia is Greek for economy or 'household management' or economy, from Oikos "house, habitation".

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