Tuesday, February 17, 2015


The saga goes on and on.  This afternoon there emerged a rumor that despite a fiery speech to the parliament by P.M.Tsipras in which he promised not to give an inch, the Greeks were now prepared to ask for an extension of their "loan agreement" with the EU.  The not giving an inch thing may be a touch hard to fulfill as the Euros have already said that any extension, change, demolition or whatever is not happening without conditions.  Not exactly a meeting of the minds from my standpoint.  I suspect the rumor has no legs although in any sort of rational situation it should.

Anyway, I promised I would find out what happened that got everybody so riled up and whilst the source is not as good as friend Hans it is so closely aligned to what I suggested was going to happen that it must be right.  I mean, come on.  I'm batting damn near 1.000 on this so it MUST be right!  Anyway, when is a finance minister not treated like a finance minister?  Ladies and gentlemen I give you The Great Varonfakis!

Now lets keep in mind that this guy emerged from the streets of Austin calling himself a communist of some sort.  For a bunch of European finance ministers, most of whom have seen communist economics at work up close and personal, not to mention Angie who grew up under it, communist economist is pretty much a synonymy for idiot.  That is problem number 1.

Problem number 2 is that out Greekie thinks very highly of himself and is not afraid to demonstrate that to all concerned.  In the first respect he is  exactly like his 18 opponent's; in the second respect those guys only brag to themselves and their mistresses.

Problem number 3 is he likes to talk to reporters and apparently is trailed by hoards of them as he wanders about.  He also negotiates in the press which is a big time no-no.

Problem number 4 he has a rather southern European sense of time.  When a meeting is scheduled for 10:00 an do not show up at 10:35.

Problem number 5.  Who the hell needs an economist?  This is a political problem not an economic one.  As far as these negotiations go, lose this guy.  He has no idea what is needed to get this thing on the tracks.  Let's see if anyone is listening.

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