Thursday, November 03, 2011
In view of the totally chaotic and surreal double pantomimes that are going on in Cannes and Athens at the moment, I thought a few musings on the demise of the Euro project are pertinent.
The latest rumour/counter rumour is that George Pap (the PM) will resign, this was then immediately refuted by an official media spokesman. The reality is that he will be forced out of office today, after the latest emergency cabinet meeting. In fact it has been announced that following that meeting he will call on the president of Greece.
He will offer his resignation in 30 minutes.
What happens then?
A government of national unity will be formed, and plans will be put in place for some form of elections at some unspecified date.
In the meantime the markets are having a nervous breakdown, and the EU "leaders" are flapping around like beached fish. A press conference hosted by Barroso has just been cancelled, indicating all is not well, and Obama is furious that his time at the G20 has been wasted by this self inflicted farce.
Greece has already lost control of it economy and its right for self determination (under an army of occupation of EU bureaucrats), as to how long it tolerates this situation is unclear.
Its exit from the Euro is a matter of days away in my opinion.
The lesson to the Eurozone "leaders" of this farce is that you cannot impose an economic policy on a sovereign nation by diktat, unless you have an real army of occupation; ie dictatorships only survive when they are backed up by physical force.
The above should make everyone rather worried, as the "leaders" may one day opt for using an army to keep the Eurozone together.
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