Well obviously this is a joke. Even those totally ignorant of Economics (such as the assorted Ministers of Finances of the Eurozone) know that The Frau’s insistence on what in her warped little mind she considers economic policy, has led to recession, growing unemployment and political instability.

But the reaction to Silvio Berlusconi’s announcement that he will stop supporting the Monti regime, provoking an early election in which he will run is enlightening to say the least.

Monti was appointed through The Frau mechanism of putting technocrats in charge. Technocrats loyal to the ECB say (Papademos in Greece) or Goldman Sachs alumni, all of whom consider their duty is to The Frau’s policy and not the countries they have been appointed to govern.

Now Mario Monti, a far more intelligent and likable technocrat than the Greek versions of Papademos and Stournaras, has done everything right. That is he has followed the orders imposed. To his credit he has tried to influence this debilitating dictatorship of What The Frau Wants. As for instance his heroic attempt in the Euro summit where he thought he had passed the agreement that bank recapitalization would not be lumped on sovereign debt, but would be directly between the banks and the EFSF.

But even this very sensible idea was scotched in practice by The Frau. Taking the wind completely out of Monti’s sails.

And we come to the outright panic throughout the world provoked by Silvio Berlusconi. By all accounts a buffoon, a criminal, a scandal monger, a figure of fun that the Italians were glad to see the back of. Yet now, just over a year later, there is panic in the markets because of the fear that, Oh my god! What happens if Monti goes?

First of all their fear is not “if” Monti goes, but “when” he goes. Second, this fear has been triggered by the outcome of Monti’s imposition of The Frau inspired austerity with no growth prospects policy. A policy designed to destroy economies and throw people to the wolves for the short term benefit of the German economy.

So taking into account what The Frau has achieved in Europe over the last two and half to three years, that is recession, unemployment, destitution, destruction of at least one generation, excessive taxation from dwindling incomes and all that, it is hardly surprising that The Markets have been thrown into a panic.

In their own language they have “discounted” the result. That Signor Monti’s policy will lead to an election result they do not want. Because the Italian electorate does not want The Frau imposed policy of the destruction of their country and by extension Europe.

So the complete buffoon, Mr Bunga Bunga has called The Frau’s bluff and shouted, “Hey guys, the Empress has no clothes!”

Why else such a panic? Had the EZ behaved with greater sense deciding upon and adopting an effective economic policy concerned with the people’s of Europe and nit just the bankers, Berlusconi would not have dared pull such a stunt, or if he had, everyone would have shrugged it off and smiled condescendingly at the buffoon, knowing that nothing would happen.

The fact that they have not speaks volumes.

The Financial Times Deutschland has been obliged to close. Thomas Fricke has written an extremely interesting article over why, entitled:

How Angela Merkel saw off the Financial Times Deutschland

The German chancellor’s failure to implement our financial advice led to the economic crisis that closed our newspaper

(click here to read it)

This article tells us in plain clear language and plain clear sensible logic, not only why the FTD was obliged to close, but also why the Eurozone has been driven to the brink of failure and perhaps even total collapse.

All along, The Frau, in her stubborn little know all, arrogant manner, has insisted on policies that were bound to fail, and did. On policies that were bound to lead to economic collapse and recession and did. She has consistently preferred to throw billions upon billions of other people’s money down her plughole, in order to stick by her rules, punish, prove she is boss or whatever else, rather than deal with problems rationally and with a modicum of economic sense.

I say “other people’s money” advisedly in that although Germany has supposedly contributed the lion’s share to all these criminally inspired “bailouts”, through the admission of her own Minister and MPs, Germany has made more money out of the crisis than she has put in to supposedly trying to fix it.

It is only now that German industry is beginning to feel the pinch, as it was obvious to anyone with a modicum of common sense, let alone knowledge of basic economics, that it would, that we can hope someone will wake up and shout from the rafters:

The Empress Is Not Wearing Any Clothes!

When the appointed technocrat Minister of Finances Yannis Stournaras went to see the President of the Hellenic Republic to update him on government policy, the President felt the need to remind him that there did happen to be people in this country too, not just numbers. He did not put it that way of course, being a diplomatic man, but he did call the Minister’s attention to the fact that you can’t roar ahead with cuts and exorbitant taxation in total disregard of the suffering you are inflicting on the people.

It is very unlikely that Mr Sournaras took any heed. As he told us himself in what is becoming a notorious interview on TV a couple of nights ago, he was only upset when Herr Schauble told him off for divulging that the Greek extension had been granted before, he, Shauble, had given permission to him to do so. He disobeyed the Master and was taken to task for it. And this really did make him unhappy.

He also told us that one of his best moments was when Scahuble patted him on the back and told him what a good boy he was because he had carried out all the demands that were pending.

Again the honourable Minister appears to have remained anaware that this praise from Scahuble he so delighted in was won at the cost of inflicting the worse punishment yet on the Greek people. And that is saying a lot. What with about a third of the population under the poverty line, 26% officially unemployed, further recession after 25% of GDP has already been eroded. And much more, like hunger, destitution and an insistence on even more taxation on people who simply cannot pay anything any more.

The only thing that matters to Mr Stournaras and Antonis Samaras is how to keep The Frau and her side kick happy, and hang the people. The plebs. The great unwashed and all that. Their suffering does not touch Mr Stournaras at all. He is only upset when Mr Schauble reprimands him for not inflicting more pain on the Greek people.

It is interesting that there has been a growing amount of articles and comments appearing in the foreign press concerning the plight of the Greek people, from Bloomberg, to the New York Times, the Guardian and others. And there have been reminders that there is not much use in “saving” the country (which is the pretext for this destruction being wreaked on the Greek people and the Greek economy) when you have sacrificed the people instead of saving them.

But Mr Stournaras is a model technocrat. Dedicated to his mission. Determined to keep Mr Schauble happy at all costs. When asked how he will meet the targets he has so callously agreed to when people can no longer pay the extra billions in tax he is demanding, he answered, they will have too.

So quite obviously, he wants to save the economy but not the people. Nevertheless, although it is perfectly understandable that a dedicated technocrat like himself remains totally oblivious of people and their suffering, it is rather surprising that in terms of his own remit he cannot (or will not?) see that the very recipe he is desperately trying to impose will only lead to the complete collapse of the Greek economy. How else could it be with the “killer medicine”* Greece is being force fed?

*A journalist at the ECB press conference held today used that exact phrase for what is happening to Greece. The “killer medicine”. As expected Draghi’s answer was a mumbled fudge about imbalances, about Greece still having a deficit and such. As you would expect from yet another ex Goldman Sachs technocrat.

Well, it comes as no surprise that Greece has topped the table for corruption in Europe. However, what seems to me more pertinent is that corruption in Greece has increased during the troika/memorandum regime. And not only that, but the other countries entrapped in the so called bail out/austerity tyranny, have also seen corruption grow significantly.

So what have all these IMF/European strict austerity-cures-everything programmes actually achieved after about three years?

Well now, unemployment has increased is increasing (and ought to be diminished)* throughout the EU and in particular the states being ground to a pulp through this ingenious economic “policy”, Spain and Greece, whose unemployment is near one in four, and growing (one in two for the young.)

Recession in the EU has increased, is increasing (and ought to be diminished) and has in fact reached Depression dimensions in Greece in particular.

Debt? The debt problem has not only not gone away but is also growing.

Poverty has increased, is increasing (and ought to be diminished) throughout Europe (yes, even Germany).

And now the cherry on top of the cake. Corruption is seeping throughout the austerity ravaged states. It should come as no surprise. When the official state is milking you for more that you are worth (as is happening in Greece in particular, but not only), and your children are going hungry (as is happening in Greece but elsewhere too), then you will steal, cheat and yes, indeed, succumb to bribery, corruption and everything else too.

Congratulations German Europe, congratulations IMF, congratulations to all you spineless, self serving totally self interested Eurocrats and technocrats, having a right old time on your respective power trips. From Olli Rehn to Yannis Stournaras and everybody else preening themselves so shamelessly in the Eurogroup.

*The quote is taken from John Dunning, 1st Baron Ashburton (18 October 1731 ? 18 August 1783), who stated in Parliament that “the influence of the crown has increased, is increasing, and ought to be diminished“.

The coalition pretending to govern Greece have come up with a proposed new taxation law that is from despicable to disastrous! It penalizes (not to say devastates) all middle income downwards. It deters any kind of serious investment, it is the death knell for all young people trying to get up and on their feet.

In short if its is passed it will lead to the complete collapse of the Greek economy and probably even the contraction of the Greek population since children are penalized to a prohibitive extent. Now, since the public is being fed leaks of this brilliant scheme, public opinion is beginning to scream blue murder.

As a result, the cringing leaders of the three parties in coalition are all saying that no, they do not agree with this proposed law and no we must not annihilate Greek families and so on. Prompting the question that if all three of you are against it, why propose it?

To which comes the answer off pat “Oh, it’s the troika!” The hapless (and clueless?) Minister of Finances is only carrying out the Troika’s orders. The troika has decreed that an extra 3 billion (or so) must be raised in taxes from an economy contracting at an average rate of 5% a year and set to continue to do so.

Now, although this could be just the Greek so called government’s way of wriggling out of the blame, and the troika did not actually decree this, the truth is that at best, they have just sat back, twiddled their thumbs and shrugged in agreement. Which is just as bad. And equally irresponsible.

But what are we in fact being told? No matter how you vote you second rate and second class Greeks, you do not have a government and we shall decide how to tax you! Reminiscent of anything? The American colonies perhaps? Because that is just what it is beginning to feel like!

Boston showed us the way forward! Lets have a tea party….

I have said it before and I will say it again, but I am far from the only one saying it. So we can’t all be daft or devious. At the moment two of those sharing my opinion are Alexis Tsipras leader of the left wing SYRIZA party, currently coming first in the opinion polls, and the other, Stuart Thomson, manager of the Ignis Strategic Bond fund, quoted as saying about the current bond buy back scheme “This is just another milepost on Greece’s road to Hell, which is of course, paved with good intentions“.

Now these two gentlemen are literally poles apart in their politics and economics, but in full agreement about one fact. The way Greece is being raped and abused, not least by its own so called governments and technocrats, apart from all the self serving, callous Eurocrats and other Eurozone  country leaders (the ones who order the others about that is.) who are pushing the hapless god forsaken country straight to hell.

The latest part of this horrific road Greece is being willfully pushed down is of course the ridiculously conceived, totally unplanned and woefully executed bond buy back. It is a fudge. A very bad fudge which will leave the Greek economy in an even worse state than before. It is a subterfuge. All the powers that be from Juncker to Merkel to Samaras and now the Governor of the Bank of Greece are using it to lie preposterously to the Greek people.

Don’t worry! They keep telling us. The worst is over! All this will bring about growth some time around the end of next year. Everything will go fine! Provided…!

That’s it. Provided you stick with this fabulous plan, based on forecasts  and targets that are never ever even remotely right, that have created a vicious death spiral in recession, more austerity more recession, which does not provide one single miserable little cent for growth of any kind, with a brand new taxation law that is designed to turn Greece into a complete and utter waste land. And more.

Yet all the powers that be are upbeat about it. Even though they all know very well that it is one more nail in the coffin of Greece, one more leap down the road taking us straight to hell. And they are all so pleased with themselves for having solved the problem. Well, at least they are honest when they think they have solved the problem.

That is they think they have collectively solved their own problem, which in a nutshell is the same for all of them. How to cling onto power and keep enjoying their unearned and ill deserved salaries and perks at the expense of the poor, the impoverished, the broken people of Europe, starting with Greece.

They have done an extraordinarily good job of destroying Greece under the pretext of trying to help her, but I doubt whether any of this will be good either for them or the rest of Europe not in the long run, nor even the medium run, but in the very short run.

Something is going to blow. And soon.

Well now, whatever else might have been in the minds of the great economists from Adam Smith (yes), John Maynard Keynes, Karl Marx and many others, today’s great (warped) free market neo liberal thinkers certainly do not have anything like “achieving the good life”  in mind at all.

No! The economy is like a machine. Like the combustion engine say and equally impersonal. It is there for one reason alone. To ensure profits by eliminating the human factor entirely. There is no human factor, there are merely labour costs which have to be reduced. And the ultimate goal of the economy is to keep banksters happy and hang everybody else.

Actually to be quite fair, this current brand of financial capitilasm (personified by the banksters)  really doesn’t give much of hoot for industrialists either. Ok. They are useful, they suppose, but only to the extent that they throw their profits into the hedge fund, derivatives, CDS, what have you markets.

Society does not exists as Lady Thatcher told us years ago. No such thing as society, was what she said. Remember that? People are expendable. Welfare is a waste of time and money. Retirement age should be extended to the limit of age expectancy and people should be hired and fired at will with no rights, no so called “safety nets” no recourse to any kind of justice. They are nothing but expendable cogs in the machine. Spare parts to be replaced and thrown out.

In fact human beings are a bit of a nuisance and should be treated as such.

Which is precisely why we get what Paul Krugman calls Very Serious People saying very serious things like the following:

“Over to Spain, and Moody’s has said the recent moratorium on evictions weakens the financial position of the country’s banks. The agency said:

[The law passed this month] will reduce the level of recoveries expected through November 2014 and increase the time delay before the creditor can materialise recoveries following the sale of the repossessed property.”

And that is terrible! Throw the bums out into the street! Or preferably, let them jump out of their fourth storey windows and be done with it! We can’t bother with all these losers slowing up the banks’ recovery, now can we?

A while ago I saw a documentary on TV about The Great Depression (you know, the 1930’s thing that the current economic class seems to be ignorant of. Or rather what they prefer to deny, like the Holocaust Denial. Oh no, they say, that kind of stuff simply did not happen.)

Now here there were, throngs of people living on the streets because they had been evicted. Throngs of people going hungry and losing all feeling of being human (Remember the film “They Shoot Horses Don’t They?). While at the same time there were rows and rows of empty houses. No longer worth anything to anyone. And the farmers were having to throw away their produce because no one could buy it.

People were homeless and starving while buildings were empty and farm produce was rotting in the fields.

Well, I suppose that is the invisible hand of Capitalism.

No wonder the banksters have joined the Holocaust deniers.

I know the Titanic metaphor is getting to be rather tiresome, but the more we sink deeper and deeper (excuse the pun!) into the mess of the collapse of the financial capitalist bubble, the more apt this metaphor becomes.

Eurozone economic confidence (which is an abstract) is up! Even though European production (which is a tangible) is down and set to fall another 1% (by official forecasts which are notoriously over optimistic).

The Greek Prime Minister has totally lost his head. (Not that he ever had much of that in the first place but still). He went to the hubristic lengths of making a video of himself as the great thinker and the great helmsman who has now achieved all the preconditions for growth and prosperity in Greece.

Since this was again all rather too abstract, and in any case based on no facts whatsoever (actually counter to facts), the Minister of Finances felt he must chip in I suppose, and when pressed to answer where growth would come from, he said consumption. And he didn’t even blush! (He may have thrown up with all the nonsense he spouted, after the interview, but perhaps I am being too charitable.)

So the Greek Prime Minister and government are recklessly rejoicing and promising a new beginning for Greece with growth and jobs (and perhaps piles of rice in the sky and fifteen virgins for each man) just when they have enacted the worse, most severe austerity measures ever to have been passed in a democracy in peacetime. All income is to be severely cut and what income cannot be cut will be so severely and unjustly taxed that people will not only be unable to consume anything other than basic necessities to keep alive, but not even those.

Recession is forecast by the government in its budget to be a further 4.5%. Which means it will more likely be in the range of a further 7% to 8%. Does one need to say any more about the actual state of an economy not only in free fall but set for total melt down in 2013 to realise that the Greek government is not only totally out of touch but completely reprehensible in all its statements and even worse, jubilation?

It is, after all, one thing to be taking dreadful, debilitating measures in the genuine belief that you have to do this in order to get the economy back on track (even if you are totally wrong about your policy) and quite another to think you have really achieved success and worse to actually believe that the people think you are so wonderful, that you have the audacity to make and show a video of yourself as hero of the day! Illusions of grandeur? Narcissism? Abysmal advisors? Or just the band playing on with gusto as the ship sinks?

And back to the Euroland scene. Commissioner Olli Rhen, Eurogroup leader Jean Claude Juncker, EU President HVR and the Portuguese gentleman who is responsible for ruing his country and was therefore rewarded by being made president of the Commission, have all come out with statement of how great this is, how Greece is doing extremely well and other such self serving nonsense. (Why self serving? Well, for these guys it means if everything is going well you don’t have to do anything, do you?)

Now, a small digression, everything was supposed to hang on the troika’s report, because none of these European dignitaries had any idea what the situation in Greece was like, so they needed to wait for the report before making any decisions. Now they are all convinced that with this criminal tinkering they have all agreed to, Greek debt will be sustainable in 2020, and that everything is going swimmingly in that god forsaken, devastated country. Oh, but what happened to the troika report then? Oh, um, well… I don’t suppose we do need it after all. Anyway they will only report what we want them to. This is called integrity in Europe.

Now on the Titanic the band was told to keep playing so the passengers wouldn’t get upset. It was important for the company because it had set out to break the record of how long it takes to sail to New York. It would spoil the spin (as we call it now) if the passengers realised what was really going on, and, god forbid! Panicked!

In other words, those in charge were just like those in charge of Europe. They were in a state of complete and utter denial. The ship was going down and all they could think about was business. How will it look if the passengers panic? It won’t be good advertising for our company now will it? Yet no one stopped to think how it would look if most of the passengers actually drowned owing to criminal negligence.

That is what is happening in Euroland now. We mustn’t let on that the ship is actually sinking because how will it look to our electorates? For the so called surplus countries of the north, the only thing that matters is that the electorates must be reassured that no taxpayer money will be lost, through any write downs of debt for lazy profligates (which is what they have been made to believe).

Totally covering up two facts. That so far they have made good money from the bailouts and second, (and this is of Titanic proportions) that after the delight in squeezing the wretched PIGS till their pips squeak and refusing to write off enough debt to rebalance their economies, then these profligate southern states will in fact blow up. On a grand scale. Because There Is No Alternative, or at least you have decided to block all and any other viable alternatives out of self serving short sighted greed.

So while the band is playing and the first class passengers are enjoying their champagne and truffles, people in steerage are already drowning. And though that may be of no concern to the first class passengers, they are on the same boat. When it goes down, so will they, and how.

If the debt problem continues to be addressed in this short sighted, criminally negligent way then there is only one thing left that can happen.

The over indebted states of the south will be obliged to default in the most disorderly manner. When that happens, then the first class passengers will realise that they too were sitting on the top of the ice berg that sank them whole. Lock stock and barrel. Because when the south defaults, the smug northerners will be rudely awaked to the fact that, oh dear, we were rich on their loans. And our banks have just imploded!

But then it will be too late. Just as it was for the Titanic. Play on my gracious minstrels, play on. It is merely a matter of time now.

Just about all analysts and commentators, except those close the Greek government, agree on one thing pertaining to this much touted Greek deal. That it is nothing but a load of rubbish. I will not reiterate my own comments on the reliability of the IMF or any other organizations forecasting precisely what Greek Debt and GDP will be eight years from now. However, it would appear that this opinion merely expresses a broad consensus throughout the world. That it is absolute rubbish. (Not withstanding the phoney precision of say 124% or perhaps 126.6%).

However, there is a much more glaring item in this travesty of a deal that is equally rubbish and that is in danger of shattering the deceit this “successful” deal is being gravely presented with.

And that is the buy back of Greek bonds in the Private sector. According to brilliant Wolfie’s sneaky underhand little plan, half of the phoney debt write down of 40 billion Euro is to derive from this buy back. Now, I don’t know if it has escaped their attention or not, but bonds held by what is called the Private Sector have already been slashed by 50% (or 70% depending on how you calculate it.)

The great European Fudge consists of the following: The so called Official Sector, which consists of European governments and the ECB, are not allowed to write down or off, any debt, because it would be against the rules. The IMF says that Greek debt will never be sustainable unless there is a hefty write down of such debt. Germany refuses to even discuss this.

Not because it is against the law or anything like that, but because the German government’s unique concern at the moment is how to get re elected, and everything, but everything in the world must take second place to Angela Merkel being reelected as Chancellor of Germany. There now.

Now whatever else I may have said about Christine Lagarde, the one thing I would not accuse her of is of being daft. She knows Greek debt can never become sustainable without such a deep haircut of Official Sector holdings. She also knows that the IMF cannot, also by law, continue to fund a country whose debt is not sustainable, as Greece’s is not. Not least because of the IMF stringent austerity imposed on it. But be that as it may.

However, she is also very well aware that in the face of German self serving bloody mindedness, if she pushes the issue to its logical conclusion and the IMF pulls out of Greece, then global financial mayhem may ensue. So she ostensibly bows to Wolfie’s wishes making him a very happy man. In her own tactical maneuver perhaps.

Now, as I just said, the bonds to be “bought back” are the already exchanged ones through the PSI. The grand idea is that the EFSF will lend Greece some 10 billion (an interest paying loan that will be part of growing debt) to buy back these bonds on the market. Now, underhand point number one, Greece is responsible for the buy back and Greece must put it into effect and Greece must pay interest on the loan, and be held to task should she fail in this enterprise. Failure being, presumably, an inability to reduce debt this way by 20 billion (taking the extra 10 billion loan into account).

And all this has to be completed by 13th December, otherwise the IMF cannot continue funding. Now, since those European blabbermouths have been going on and on about this for so long, demand for Greek bonds has grown since those who bought these at 10% or 20% of face value, will now be paid at 30% of face value (or thereabouts) but NOT MORE, even if they have gone further up in the secondary market.

Underhand point number two: A large part of these bonds are in the hands of Greek banks, Greek social security funds, Greek universities and hospitals. That is all these Unprivate Greek entities forced into the PSI and just about bankrupt by it. In fact, the whole point of this great big 34 billion installment is to go towards re capitalising the Greek banks who had their reserves decimated through the previous PSI.

So as Mr Stournaras shamelessly admitted in his press conference, even if in a round about way, he deems it the patriotic duty of these institutions to fall on their swords. In other words, if they do sell their already reduced bond holdings (already by 70%) at 30% of the reduced price, then they will go bankrupt. All health care in Greece will disappear and so will many other things. Now the banks, which is all that matters, are expected to survive since they are due to get 24billion for re capitalisation, only, after the second hair cut even this will not be enough.

However, there is a snag here. The new bonds were issued under British law, which means the Greek government cannot force the issue. Or if it does try to, it will be taken to court (in London: where the bondholders will win the case outright, thanks to how the Greek government mishandled the first PSI).

Nevertheless, it appears that Greek bonds are being bought in the secondary market for more that the 30% European imposed cap. What does this mean? Well, it means that those buying at the higher price feel that Germany has endorsed the Greek deal, that she would not be lending more money to Greece if she planned to boot Greece out and not support her after the elections, so they figure, this is a good deal because the price of Greek bonds will go up as the Greek economy begins to mend. Which is what these MoU programmes are supposed to achieve.

Apart from dry laughter about that last factor, there is some sense in the thought. If, as we are being told Greece is going to stay in the Eurozone because Germany says so, then eventually Greek bonds will go up. So those buying now, do not intend to sell them at a lower price. Catch 22. They will not sell because they are betting on a rise in their value, which means they are betting on the success, eventually, of the Greek bailout.

However, if they do not sell, this risks scuppering the very premise on which this so called deal is supposed to be based. The Greek government will be unable to buy back its bonds, and hence the Greek government will be blamed for not carrying out its part and the whole plan it took days and hours and months to put together will burst like another toxic bubble.

Now, should the bond sale manage after all to achieve the 20 billion target, what will that mean? OK, that the Greek government pulled it off, perhaps. But also that their is no faith in the bailout plan ever working, so best to cash in now before  Greece defaults and is thrown out of the Euro.

So what does this mean? It means if Greece succeeds in this task imposed upon it of the buy back, it is only because The Markets have no faith in its future, or at least in its future in the Eurozone. If it fails to deliver on this Bailout programme demand, it means that The Markets do have faith in Greece’s future growth and prospects inside the Eurozone. But the very demonstration of this faith will be precisely what scotches the plan, because debt sustainability (even in the Alice in Wonderland terms of the IMF and EZ 124% in 2020 and other such arrant nonsense) will not be achieved.

Hence, the IMF will be constrained to pull out and everything will come crashing down again, like a house of cards.

I suppose it is only to be expected. When you manage decisions of such importance the way the Eurogroup does, it is inevitable that at 2 o’clock in the morning after10 hours or so of dithering and wrangling and jockeying for position, you will see something as idiotic as this as a really great idea! And good! Lets do it Now! So we can all get some well deserved sleep.

Bleary eyed and, I dare say from slightly to greatly enibreated after those good dinners, none of them can see straight any more.

As for the Greek PM’s appalling triumphalism over this great success… Well, apparently he too spent the whole time eating pizzas and I dare say having a beer or even whisky or two, as he waited for the outcome.

So should I really be considered unpatriotic for saying, THIS IS NO WAY TO RUN A COUNTRY!!!

Unfortunately the German Juggernaut has prevailed once again. All the pantomime of long hours of discussions has ended up with what Germany wants. Quite simply put, to kick that wretched proverbial can down the road till the German elections. And Christine Lagarde has remained smothered behind her Hermes Scarves pretending to be calling for a Real Fix, and coming up with… yet another Nonsense Economics raspberry.

And hey ho we are back again to what Prof. Loukas Tsoukalis has described as theological discussions. Once again, for all these wise men and women of the IMF and the Eurozone to have finally settled after long hours of bickering that they will, through their agreements, achieve a debt/GDP ratios of 124% by 2020, it means they know, or can safely calculate what Greek GDP will be in 2020.

Which of course is arrant nonsense, or metaphysics perhaps. Think of how all their forecasts seem to be revised every quarter, and yet, they are confident enough to predict Greek GDP by 2020, and base their ‘fix’ on that! This is no longer idiocy. It is criminal. Because we are back to square one. If you want us to keep giving you more loans that will increase your debt pile, to be used solely to repay prior loans but NOT definitely NOT to be used for the economy, you must carry out the memorandum to a tee!

Now they may look pretty dumb, from the formidable Maria Fekter who changes her opinion like some people change their shirts, to the weasely, vengeful Schauble, even our friend the Walrus looking Juncker, not to mention Olli Rhen, who should have been fired from his job long ago, for complete and utter incompetence, but every single one of that criminal gang knows very well that the programme imposed on Greece will only lead to one thing.

Complete and utter destruction of the Greek economy at best, revolution, civil war and a fascist state at worst.

So why are they doing this? There is no way they are protecting their investment this way. So why? The dithering, the fumbling, the nonsense spewed out as supposed calculations. Not to mention the fact that there is no reason at all why 120% or 124% should be considered a “sustainable” debt figure. Because it isn’t.

A dark plan? An evil conspiracy? A sadistic streak?

No. Not even any of the above. (Except perhaps the sadistic streak). These people have been caught up in the mayhem of a collapsing financial capitalist disaster. Their only priority is to keep the banks in the manner to which they have become accustomed. Because the Banks are their sponsors, both of the political parties as of the so called politicians.

So, since the only thing that matters is for Angela Merkel and Wofgang Schauble to remain in power to serve this regime, at any cost, this aberration of not even a quick fix was agreed upon. The German boot remains firmly on the Greek wind pipe. Greece will be kept, (it is hoped) in this comatose state till the German Elections are safely over and The Frau is still at the helm of her perennially destructive juggernaut.

So. Mission accomplished! The idiotic Greek government are worse than whores or drug addicts. Give ’em their fix (even if it is no fix at all!) and they will sell their own mothers. Which is, in effect, precisely what they are doing. And quite happily.

However, Antonis Samaras’ delight in his illusion that he has achieved anything at all other than the acceleration of his country’s complete collapse into penury and violence eventually, will, I believe, be very short lived.