Okay. Another ‘crucial’ weekend of high level talks on how to resolve the Greek debt crisis. Whatever is decided and however that is implemented, whether orderly, disorderly, comically or tragically, the result will be the same. The Greek economy will have the final nail hammered into its cheap plywood coffin.
Incidentally, can anyone explain why, although it had been decreed that the new loan would be 130 billion Euros it has now gone up to 145 billion? And can anyone explain why this figure is any more valid than the previous or next one which is bound to follow?
And while we are at it, can anyone explain what good it is to write down (one hopes!) 100 billion Euro of debt only to take on 145 billion Euro of debt? Does this not increase the debt? But how do you expect a silly old woman like me to understand high finance?
In any case, since we are doomed whichever way it goes, I would like to dedicate this song to all those who have tried to change the system from within. Leonard Cohen’s ‘First we take Manhattan’. In particular I would like to dedicate it to the Occupy Wall Street Movement.