I wrote some months ago that Greek anti German sentiment generated by the last war would inevitably come to the fore as the Prussian lady pursued her reparations strategy forcing the Greeks into poverty. German has been a huge winner out of the Euro. Without the Euro to hide behind the German Dmark would have appreciated hugely and German unemployment much higher than it is today. Germany is fighting its own corner and the Greeks are having to pay.
The Greek parliament is meeting tonight under an unending series of scare stories from its EU appointed gauleiter. If you don't bow to German demands the country will run out of petrol, drugs etc. Can you imagine any proud sovereign nation caving into this blackmail and naked use of financial muscle?
Already the police are close to revolt as are all the Greek public sector workers. That only leaves the Greek army as an institution that still functions. Conditions are starting to look right for a military coup with a neo Nazi regimebut there will be much blood spilt on the streets of Athens before that happens.
The Euro as presently constructed is finished. Its on life support kept going as the UK also keeps going on constant infusions of central bank funny money. This will go on until Sarkozy loses out big time in this years French presidential elections and who knows what comes next.
At home the QE pigeons are coming home to roost. God help anyone retiring now who has to buy an annuity but with the political elite supporting the idle and feckless and rip off business men with dubious morals who speaks for middle England? No one I can hear on the media.