Monday, June 22, 2015


It appears we have reached the point where the Euros (Angie) believe that the Greek government ( named in accordance with the nation's great maritime history as "Ship of Fools") have reached the end of the road politically as to what they can present to parliament without getting thrown out on the street and having complete chaos invited in.  Despite claims that the Euros will go away to chat, this is going to be an all-nighter, as despite a willingness to Angie's part to hole the thing together, she is going to have to do some convincing among her German delegation not to mention some of the Euro mob who have already been muttering that the Greek proposal dead on arrival.  Anyway, as we predicted, it seems we are now in the political "end game" where politics will rule and economics be damned.  This is why it is always so amusing to listen to out great economic elites speak of thing that are a "MUST" in any agreement.  The only "Must" IS the agreement.  You can't kick a can down the road without an agreement.

Will there be one?  Yeah, I think there will.  The Greeks were counting on the fear of the unknown to force the Euros into folding, but there has been no fear as to either the effect on the EU in the event of a Grexit or as to contagion with the likes of Portugal, Spain and Italy.  Dead quite and calm on all points; game, set and.....almost match.  Humble pie time...oh, the Euros wont gloat and the Greeks will proclaim a great victory and the Rock Star will be making self-aggrandizing speeches all over the world...and the dog will bark and the caravan will move on.  Until it stops once again six months from now.  By that time we shall be well-into the talk of a 'Brexit" and that will be The Big One.  But for the mean time, we shall follow this one out to conclusion which should be by Thursday at the latest.  Hang in there.

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