Sunday, June 17, 2012



Watching the media coverage of the Greek elections, with Papandreou talking of catastrophe if Greecc leaves the Euro, and all European leaders in lock down mode in their five star bunkers, is close to a pantomime.

Firstly the issue today is an election and not a referendum on the Euro. If one accepts that citizens and politicians alike want to have their cake and eat it, nobody actually genuinely wants to leave the Euro. The Greeks want a fresh start and a fighting chance of success, which the  current Teutonic debt prison has rendered impossible.

The chances of a conclusive election result  is, according to pollsters, highly improbable, leading to further negotiations to form a coalition of the willing.

The reality is that virtually all the Euro zone countries are on the edge of insolvency and any one of them could prove to be the weakest link which breaks completely.

The real game in keeping  Greece  in the Euro, and providing them with further bail outs is simply to kick the can down the road one more time.

The real risk for Greece is that of default, when they simply run out of money, which is exactly what will happen shortly in many other countries.

The whole situation is reminiscent of the British forces in Singapore awaiting the attack of the Japanese in 1940. The entire garrison was in the city with their massive guns pointed out to sea, awaiting the Japanese fleet, when the Japanese army attacked through Malaysia, BY LAND.

May I point out to our revered leaders with their eyes fixed on Athens,  like the heroes in a Christmas pantomine,  the real Euro problem “is right behind you!!!!!”

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