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Tuesday, 27 January 2015


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Eínai diaskedastikó ómo̱s , étsi den eínai ?

Eh? What? Why - you - no - speaka - English?
Even Google Translate couldn't cope with that!

We awoke to Mr. Hannan this morning--

Tsk, tsk, tsk. Look, Euroeconomics is simple. The job of the Germans is to make the money, the job of the Greeks is to spend it. Why all the fuss when everybody knows his place?

'Strewth! Not another Aussie here at D&N!

Just kidding, and of course you are right in essence but a) the Germans don't want to spread the money around and b) the Greeks just don't know their place!

A German check book-cheque book- and everybody seems to have access to it. Heaven help when someone brings the balance forward.

Ah, but the point is, 'Whiters' that the Germans are desperate to keep their cheque book locked up. As Europe flounders and the German economy sinks their desperation will become frantic. The fact is that in reality - not a plentiful commodity here in Europe - Greece has already defaulted on its loans, it's just that no-one wants to say it out loud.

Well David, that really leaves Greece one avenue then- leave the Euro and return to the drachma. There will be several years of pain but I can't see a painless way out, short of forgiveness. Then the rest of the Meds will copy and it's Katy bar the door. Bad all the way around.

Yes but there is an avenue out to the east - see my latest post above.

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