Greek one year bond yields have shot over 100%. Their 2-year bonds have also rocketed.
- The "cost" of short-term financing for Greek sovereign debt has (like the old saw) 'like the little Greek boy who ran away from home, because he didn't like the way he was being reared." This will end badly. I'm thinking the public's butt, the politician's tallywhacker, and no lubrication this go round.
What does this mean? It means that denial is no longer just a river in Egypt, and that Papadopolis or whomever the current Prime Minister is is delusional if he believes his public statements (at best) and lying his ass off (at worst).
In simple English, the Greek economy is saying "Help! I've fallen, and I can't get up!"
The Fwench banks are providing their typical Gallic 'shrug' and preparing for their own massive banking fiasco, so their response is effectively "regrette, nien."
....and Germany, remembering Stalingrad, is preparing a "kesselring" around it's banking system.
Wednesday, 14 September 2011
Greek tragedy...............from Rico
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2 comments:
The dumb "Micks" are going down as well.
And,
They thought the party would never end.
HAH!
Except the Greek economy is saying: 'I need money for one more shot and then I'll get clean. Can't you see I'm in pain? I need the money!'. (Same thing they have been saying for over a year now?)
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