Try as they might, nothing can hide the ordure hitting the ventilator that is soon to engulf the Euro zone. The Greek crisis has been played down magnificently but it is spreading, as predicted, slowly but surely; unwanted but unstoppable...MENE, MENE, TEKEL, UPHARSIN: the writing is on the wall (it has been for a while); The EU is preparing the mother of all bailouts.
Update: Some might say destiny awaits...
3 comments:
Did you know Greece has the highest state pensions in the EU - even after last years reforms. How does that work then?
Strange times at the moment in the world of finance, lots of new mortgage deals available but a stagnant housing market, banks still not lending but other lenders giving away finance. What are the odds on another big crash just around the corner?
Read about that just today! From three different sources, stock market off a cliff, still maybe a double dip, one claiming a US/EU coinciding cataclysm.
Late P.S. re Greece etc: John Redwood
"There are three simple options to put matters right. Greece could spend less. Greece could tax more. The other Euroland economies could give Greece the money to overspend. Not paying interest or capital back to lenders is reneging on contracts, a kind of theft, and may include short changing people, institutions and countries less well off than Greece.
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