Articulate and succinct. From Charles Hugh Smith from Of Two Minds. Zero Hedge. Excerpts:
The Tiresome Eurozone Soap Opera Has Entered Re-Runs
The Eurozone "drama" needs some fresh plot developments; it has become boring.
What's more tiresome than a hastily rehearsed soap opera that replays the same boring plots again and again? Re-Runs of that soap opera. The Eurozone "drama" is now in re-runs and I for one am switching channels. Nothing will change until some critical part of the worm-eaten, corrupt construct of artifice and denial collapses in a heap. Until then, all we have is replays of the same boring plot lines:
Put-upon Greece: We were just minding our business here in the sunny south, living happily on borrowed billions in a thoroughly corrupt Status Quo, and suddenly we're debt-serfs squeezed by rapacious Eurozone enforcers of the banking cartel. What did we do to deserve this? It's not fair.
Put-upon Germany: We were just minding the store here, racking up 40% of our GDP in exports and raking in bank profits loaning money to our Eurozone compatriots, when suddenly everyone who's lived beyond their means demands that we refinance their debts because we're rich. Excuse us, but did anyone look at how we got rich? Hard work, cuts in spending, high taxes and a tight lid on wages. What did we do to deserve this? It's not fair.
Married couple in counseling: France and Germany: It's all his/her fault. They never bothered to understand me, etc.
The lit-fuse terrorist: Either refinance our debt and bail out our Status Quo, or we're gonna blow up the Eurozone!
Is anyone else tired of the entire cast and threadbare plotlines?
Pasok Throws A Monkey Wrench Into Coalition Discussions Zero Hedge. Full post.
As reported in the previous post, the Greek PASOK party of former PM G-Pap may have thrown a grenade into coalition discussion, following an announcement by Katerina Diamantopoulou that Pasok will not join into a coalition government with ND unless Syriza also joins said coalition. Which Syriza stated moments ago it would not do. The question then comes whether ND can form a government (150+ seats) with any of the other remaining parties (up to and including neo-nazi New Dawn or the communists... why is there no Pirate party in Greece?). The answer is most likely not, but not before some serious horse trading shows that the second Greek elections has achieved nothing, and the world now has to look forward to a 3rd Greek election round, some time in August, and then another, and then another, until no more assets are left to be plundered from the state which will have no head for a long time. Incidentally, just as we predicted on May 3 in "Previewing The First Of Many Greek Elections"
As summarized by Keep Talking Greece:
Short answer? The whole thing meant nothing, really. No one is any safer in their current position, and the volatility will continue.
The Tiresome Eurozone Soap Opera Has Entered Re-Runs
The Eurozone "drama" needs some fresh plot developments; it has become boring.
What's more tiresome than a hastily rehearsed soap opera that replays the same boring plots again and again? Re-Runs of that soap opera. The Eurozone "drama" is now in re-runs and I for one am switching channels. Nothing will change until some critical part of the worm-eaten, corrupt construct of artifice and denial collapses in a heap. Until then, all we have is replays of the same boring plot lines:
Put-upon Greece: We were just minding our business here in the sunny south, living happily on borrowed billions in a thoroughly corrupt Status Quo, and suddenly we're debt-serfs squeezed by rapacious Eurozone enforcers of the banking cartel. What did we do to deserve this? It's not fair.
Put-upon Germany: We were just minding the store here, racking up 40% of our GDP in exports and raking in bank profits loaning money to our Eurozone compatriots, when suddenly everyone who's lived beyond their means demands that we refinance their debts because we're rich. Excuse us, but did anyone look at how we got rich? Hard work, cuts in spending, high taxes and a tight lid on wages. What did we do to deserve this? It's not fair.
Married couple in counseling: France and Germany: It's all his/her fault. They never bothered to understand me, etc.
The lit-fuse terrorist: Either refinance our debt and bail out our Status Quo, or we're gonna blow up the Eurozone!
Is anyone else tired of the entire cast and threadbare plotlines?
Pasok Throws A Monkey Wrench Into Coalition Discussions Zero Hedge. Full post.
As reported in the previous post, the Greek PASOK party of former PM G-Pap may have thrown a grenade into coalition discussion, following an announcement by Katerina Diamantopoulou that Pasok will not join into a coalition government with ND unless Syriza also joins said coalition. Which Syriza stated moments ago it would not do. The question then comes whether ND can form a government (150+ seats) with any of the other remaining parties (up to and including neo-nazi New Dawn or the communists... why is there no Pirate party in Greece?). The answer is most likely not, but not before some serious horse trading shows that the second Greek elections has achieved nothing, and the world now has to look forward to a 3rd Greek election round, some time in August, and then another, and then another, until no more assets are left to be plundered from the state which will have no head for a long time. Incidentally, just as we predicted on May 3 in "Previewing The First Of Many Greek Elections"
As summarized by Keep Talking Greece:
Next Question: What government?
•PASOK official Anna Diamantopoulou said that PASOK would not join a coalition government without SYRIZA.
•PASOK considers citizens have down voted the party’s policies therefore it can not join a pure ND-PASOK government.
Short answer? The whole thing meant nothing, really. No one is any safer in their current position, and the volatility will continue.
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