The Eurogeeks acting under The Frau’s iron fisted command are being extremely generous. They will be committing themselves to ‘lending’ Greece something like 130 billion Euro, now that we have agreed to plunge our Economy into even deeper recession to please them.
Generosity indeed! Because, well, we may not be defaulting in March perhaps, but there’s no way these extra billions are ever going to get paid back now that we are being tied into a straight jacket to ensure we cannot work to produce anything with which we could try paying off our debts.
So why give us the money at all if the conditionality is to make sure Greece will never be able to repay? Now there are some sneaky people who say they are only doing this in order to get their grubby little hands on Greece’s mineral wealth. Which is far from negligible. Particularly in light of the gas and oil deposits that seem to exist under our seabeds, not unlike those recently discovered in Cyprus.
Unfortunately I don’t believe that. If that was why they were lending these sums they knew they would get back by looting our mineral wealth (sort of acting like grand loan sharks) there would be some sense to it. It may have been underhand and sneaky, but at least it would amount to a logical reason.
The real trouble is that The Frau and her coterie, seem totally unversed in how the economy really works, rather than how she would like it to work. That is by frog marching the whole of Europe to her own personal tune, and viciously punishing anyone who might dare to stray from her command.
The New York Times has an editorial today under the title The Greek Tragedy. In it they refer to, “Chancellor Angela Merkel of Germany, the main architect of Europe’s disastrous mismanagement of the Euro zone debt crisis…” need I say more?