Wednesday, October 05, 2011

Owed to a Grecian Earn

Apologies in advance to John Keats....

Interesting article from Der Spiegel.  If your German is a little weak, let me summarize for you:

(1) Greek government warns EU that if they don't get their bailout money by mid-October they are going to default as a country.


(2) Jean-Claude Juncker, Prime Minister of Luxembourg and President of the EU Group, announced on Tuesday that the next installment of the bailout package wouldn't be paid before mid November.


(3) No problem, said Evangelos Venizelos, Finance Minister of Greece, and announced that his government had suddenly found €1.5 billion in a bank stabilization fund that was set up during the crisis of 2008. Enough to keep Greece liquid until mid November.




Theatre of the Absurd, wouldn't you agree?

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