15 February, 2012

Dropped like a hot coal

The 'troika', an unholy trinity of the European Central Bank, the European Union and the IMF, has postponed the meeting to approve Greece's bailout, citing lack of commitment as the reason.

In a separate and certainly unrelated piece of news, Luc Frieden the Luxembourg Foreign Minister, said 'The impact on other countries [of Greece leaving the Eurozone] will be less important than a year ago.'

They are shaping up to drop Greece, now that it won't look too bad.

Greece has had to accept a new Prime Minister imposed on it by Europe, and now they are asked to give up all semblance of being a democracy by promising their policies after the next election will comply with what this unelected shower want. It's irrelevant, because the people can (and probably will) vote for parties which have not made these ridiculous promises.

My advice to Greece is to default on all its debts, now. Don't pay a penny. Life will be tough for a bit, but it will be anyway. At least the country will have maintained its self-respect.

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