Does anyone out there have a wooded stake? Most everyone had believed that the guy had been buried three weeks ago but nope, here he is running around again, day and night, shooting his mouth off. OK, so maybe he isn't a vampire--they only show up when the sun sets--but somebody still has to stick a stake in this guy before the whole thing goes down the gurgle tube.
Varoufakis is out of control at the most critical of times. Look, it is quite clear that there is no real "financial" solution to this Greek mess. There is no money to be had except from the EZ and Chrissy at the Fund has to get paid next week or else you might as well roll up the marble floors in that Gazillion dollar building in D.C. and think up another money burner for the taxpayers of the world. Well, not quite, but a big piece of credibility is lost in a non-payment.
This is now purely a political decision leading to a political solution so for The Gods' sake Mr. Greek finance minister, shut up, crawl back in the cave at Delphi and stop pissing off every politician from Poland to Portugal, not to mention Sr. Draghi whose good will is the only thing keeping alive your banking system. And while you are climbing the mountain, no more off-hand comments about the catastrophe that will befall the world at the moment of a Grexit. We have told you before: Greece is not a real country. The Euro have already planned for you to leave. They don't want you to, but you are more trouble than you are worth. And as for a knock-on effect, or "contagion" as the whizzes at this business like to call it...there isn't a man or woman around that doesn't know the Euro was a crazy, unworkable idea as conceived from the start. That doesn't mean they aren't prepared to stick with it for another 30 years without you. This mob has staying power and they will never, ever admit that they might have made a mistake. So guys, let's zip it up and decide how the troops back home are going to survive on humble pie for a while unless of course you really want to leave and believe you can make it work. I wouldn't mind. Greece on 3 Euros a day has a real appeal.
Showing posts with label Varoufakis. Show all posts
Showing posts with label Varoufakis. Show all posts
Tuesday, May 26, 2015
Thursday, April 16, 2015
RIEN DE LA PLUS
William Hill called "no more" yesterday. The betting has ended in so far as the famous British bookmaker is concerned. Greece will default.
Now that is not yet a certainty, but Willie Hill has been around for a long time and is damn good at what they do which is handicapping practically anything. If it came done to them against, say, Little Paulie Krugman, I would take them hands down. I think what they are looking at is the growing sense of not perhaps the inevitable but the increasing realization that no one gives a damn. There are signs of panic as well. Two days ago the idea was floated that the way for the Greeks to get out of their liquidity bind was to raid the nation's pension funds. The geniuses in Argentina tried that one but of course having their own currency, the Argies could always print Pesos to "return" what had been sto...ah...borrowed. Finding new Euros is a bit beyond Greece's capabilities today. If this does occur, we could very easily see blood in the streets. Nothing is worth that.
Today, Chrissie made it very clear that the Fund would not accept any delay in repayment. OK, that was expected but that doesn't mean the Euros will go in the same direction. However, before we reach that point there must be some movement on Greek restructuring called for by the Euros and the Greeks appear to be paralyzed. Admittedly, an attempt to satisfy the demands placed upon them might well cause the fall of the government and certainly a fracture of Tsipras's party...a possible violent fracture at that. No European leader has stepped forward to take ownership of this thing except for Frau Merkel who has a few other things on her mind. Varoufakis is off romancing Il Duce as I write as thought that is going to accomplish anything. Earlier in the day he gave a press conference in D.C. to all the gang at the IBRD/IMF meetings. I've spoken with a couple of friends who were there and the general reaction seems to be that he did himself no good at all by being vague and indecisive. I'm not surprised. As I have said before, his exit from the proceedings would be the most positive event of the past month. He could qualify as the finance minister of Atlantis being so for in over his head. Well, perhaps William Hill is not the only game in town. Perhaps. Fait vos gageur, gents. The wheel is spinning.
Now that is not yet a certainty, but Willie Hill has been around for a long time and is damn good at what they do which is handicapping practically anything. If it came done to them against, say, Little Paulie Krugman, I would take them hands down. I think what they are looking at is the growing sense of not perhaps the inevitable but the increasing realization that no one gives a damn. There are signs of panic as well. Two days ago the idea was floated that the way for the Greeks to get out of their liquidity bind was to raid the nation's pension funds. The geniuses in Argentina tried that one but of course having their own currency, the Argies could always print Pesos to "return" what had been sto...ah...borrowed. Finding new Euros is a bit beyond Greece's capabilities today. If this does occur, we could very easily see blood in the streets. Nothing is worth that.
Today, Chrissie made it very clear that the Fund would not accept any delay in repayment. OK, that was expected but that doesn't mean the Euros will go in the same direction. However, before we reach that point there must be some movement on Greek restructuring called for by the Euros and the Greeks appear to be paralyzed. Admittedly, an attempt to satisfy the demands placed upon them might well cause the fall of the government and certainly a fracture of Tsipras's party...a possible violent fracture at that. No European leader has stepped forward to take ownership of this thing except for Frau Merkel who has a few other things on her mind. Varoufakis is off romancing Il Duce as I write as thought that is going to accomplish anything. Earlier in the day he gave a press conference in D.C. to all the gang at the IBRD/IMF meetings. I've spoken with a couple of friends who were there and the general reaction seems to be that he did himself no good at all by being vague and indecisive. I'm not surprised. As I have said before, his exit from the proceedings would be the most positive event of the past month. He could qualify as the finance minister of Atlantis being so for in over his head. Well, perhaps William Hill is not the only game in town. Perhaps. Fait vos gageur, gents. The wheel is spinning.
Tuesday, April 14, 2015
QUICK TUESDAY
It was so dead today that I washed windows. Yeah, I know, I'm damn near perfect but what can I say. More to talk about tomorrow but late this afternoon came along this mind-mender. Quick, if you were a Greek, what's the next worst thing you could do besides meeting with Val Putin? How about having your Rock Star Finance Minister meet with IL Duce? Yep. On the occasion of the EBRD/IMF meetings this week Varoufakis plans to wander over to the White House for a one-on-one with Obama. Memo to the Finance Minister: You don't owe any money to the United States, although you might have missed that given you owe everybody else. Memo to Duce: you don't meet with the Finance Minister of an almost-country who is hock up to its eyeballs with your allies Over There. At the end of the day it probably will not amount to much but if I were Angie the first thought I would have is what in the hell does this jerk think he's going to get out of this meeting? If he is allowed to speak with anyone it should be me.
I guess I'm old fashioned but there is...or should be..a protocol about these things. Just because you are gauche enough not to wear a tie doesn't mean you set the rules unless of course you have a willing dope on the other end whose ego makes him entirely insensitive to the damage such an encounter might cause and believing that there is a role for him to play. Then again, there might be a simple answer to all of this. The finance minister job in Greece isn't exactly a walk in the park. Maybe the guy is interviewing to become the next Secretary of the Treasury. Judging by current standards, there's a do-nothing job if there ever was one. Gotta wear a tie, though. Well, you can't have everything.
I guess I'm old fashioned but there is...or should be..a protocol about these things. Just because you are gauche enough not to wear a tie doesn't mean you set the rules unless of course you have a willing dope on the other end whose ego makes him entirely insensitive to the damage such an encounter might cause and believing that there is a role for him to play. Then again, there might be a simple answer to all of this. The finance minister job in Greece isn't exactly a walk in the park. Maybe the guy is interviewing to become the next Secretary of the Treasury. Judging by current standards, there's a do-nothing job if there ever was one. Gotta wear a tie, though. Well, you can't have everything.
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