Friday, 3 June 2011

Greek tragedy is like Prometheus's punishment by the gods

Prometheus gave fire to humans against Zeus's wishes. His punishment was to be chained to a mountain in Turkey and every day eagles came and tore at his liver and every night his liver regrew so the eagles came again the next day. Thus today every week brings a new bail out statement from the EU leading to a strengthening of the Euro followed by the rating agency eagles  who downgrade Greek debt yet again. Its the Greeks punishment for their un-German profligate behaviour.

How long can it last? I heard last night on the Radio 4 news a Greek economist opining 18 months given the current new bail out and then something had to change. Trichet of the ECB recognises this in his call yesterday for a European Finance Ministry with powers over all European nations budgets. Dave, the DT Tory house journal reports, is deeply concerned but as a true blue Tory he will kow tow to Brussels when the crunch comes.

I am glad to see the DT leader writers read this blog and chose to go on EU students taking UK university places from British students at our expense!

Well I am off to Edinburgh so no more blogging for a few days

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