CAN'T PLEASE EVERYBODY

"Where the hell have you been?  Turned into a European?"

"UH, hullo Gerry, nice to know you care but cut me some slack would you, it's August, there was the Olympics and...."

"Ah, but you are a necessary part of life to your loyal readers.  Long weekends are simply not on old boy.  Your insight is a requirement for life."

"Oh cut the crap.  If you would get off a stick and make something happen maybe I would have something to write about."

"I have.  I called Angie and asked her pretty much the same thing as I asked you and look what happened."

"Like hell you did but she did come home over the weekend...renwed of spirit as I am told.  Any idea what this 'renewal' is all about?"

"Well, you know what happens when that lot all get together without any outsiders, they..."

"Become very Germanic, I know.  I would bet that for a while at least we are going to see a renewal of the 'My way or the highway' approach to international finance.  Things haven't improved during her stay at the Eagle's Nest and if they haven't improved they have gotten worse."

"Charlie, no need to bring up painful memories.  We all know the past to you is like yesterday afternoon to the rest of us.  It has been quiet you must admit"

"Sure, nobody's around and those that are keep putting out nonsense like how good the Spanish T-Bill auction whent.  Gerry, no real person bought that crap just like nobody bought the Italian paper.  The banks bought it and round-tripped it the the ECB.  Remember, that's eligible paper and the cheapest funding around.  Nothing has changed except the macro numbers look worse and the numbers for Greece look beyond worse, like truly awful."

"Which means...?"

"Which means Angie and the boys have probably taken the past couple of weeks to decide on the final solu...oh God Gerry, that was an unfortunate slip, please excuse me...I meant to say their decision as to whether to boot the Greeks when they miss their targets or to extend the farce for a longer period."

"And you think..?"

"I think they give them a 'drop dead date' which will not be too far in the future.  As I said I have it on good authority that hey have done the numbers and have concluded that the absence of Greece can be contained.  It might not be until the end of the year which is longer than I originally thought I must admit but it will not be much further than that. The Greeks can't do it, but they could use the time.  Getting people used to the idea fits with the time frame as well.  But you know what, Gerry?  I'm really not sure.  Can you believe it?"

"From you, no."

"I've mellowed in my dotage.  Might even find me taking a day off here and there, but come September...ah, back with a vengence!

"On what domestic stuff or international?"

""Get real, Dumbo.  Football!  Season opener is September 1!"

"Don't ever change, Charlie.  The shock to my system would be too great.  Ciao"