News from the madhouse 26th October

It's Wednesday, which means it must be final summit day!

Yes, I know, that was 21st July, and then they all went on holiday and then at the beginning of October they said they had reached an agreement but they weren't going to tell us what it was for 3 weeks and then the final summit was last weekend but in the end they couldn't come to an agreement so it was going to be today, Wednesday 26th October.

Today Chancellor Merkel was due to take the complex agreement, Greece bailout, bank bailouts, contingency fund to protect Italy and Spain, to the German Parliament, get it approved then fly back to Brussels to sign off and have dinner.

But no, it looks as if it is all too much and the next final solution development will be 7th November. Speaking of final solutions, as we weren't, some wag has suggested that the German money would be put to better use financing a military coup in Greece, which would then have to leave the EU.

By November the Greek economy will be slightly worse and my guess is that Berlusconi will not have put in place the extra measures required so there may be more summits to come.

Still, no hurry; after all it's not as if there was a crisis.

Oh.