Reuters: If Greece falls, no one wants their prints on the murder weapon
BRUSSELS (Reuters) - "We're going bust." "No, you're not." "You're strangling us." "No we're not." "You owe us for World War Two." "We gave already."
The game of chicken between Greece and its international creditors is turning into a vicious blame game as Athens lurches closer to bankruptcy with no cash-for-reform agreement in sight.
Europe's political leaders and central bankers and Greek politicians agree on only one thing: if Greece goes down, they don't want their fingerprints on the murder weapon.
If Athens runs out of cash and defaults in the coming weeks, as seems increasingly possible, no one wants to be accused of having pushed it over the edge or failed to try to save it.
WNU Editor: Easy credit and profligate spending .... a recipe for disaster. The Greek voters deserve the lion share of blame for this mess .... they always voted into power the politicians who put Greece into the debt crisis that it is in today. But the countries and institutions that lent Greece this money also deserve some of the blame .... they should have known better, but choose not to. The next few weeks are going to be rough .... but for Greece ....I see hard times for a very long time.
Update: This is a sobering analysis .... Germany Prepares For "Plan B", Says Greece Would "Need Not Only A Third Bailout, But Fourth, Fifth Or Even More" (Zero Hedge).
2 comments:
The big government people wanted everyone in Europe
"All in"
Of course they were going to look the other way when countries fudged their accounting books.
They were in their minds going to fix it after the fact.
A lot of Geek debt is denominated in CHF and was loaned when EUR/CHF was trading at 1.60 and now they're close to par and today's exchange rate just adds to the problems ..
I think Greece should default and print Drachma and let the market establish a floor and then watch investment and foreign money flow into tourism and manufacturing based on the weak currency
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