Brilliant Moves by Papandreou; EMU Mentions Eurozone Exit Possibility First Time Ever; Who the Hell is Merkozy to Dictate Terms of a Greek Referendum?
Stuff the Ball Down Merkozy's Thoat Until they Puke
Papandreou's next move should be to stuff the ball down the throats of Merkozy so hard that both of them puke.
All he has to do to accomplish that would be to go ahead and word the referendum how he wants. In short, the referendum needs to include a proposal to stay in the Eurozone, as well as a proposal to reject the terms of the EFSF as presented.
Look at the beauty of this setup from the point of view of Papandreou.
Assuming the proposal to stay in the Eurozone passes but approval of the terms of the EFSF does not, Merkel and Sarkozy will have to do one of two things:
Kick Greece out of the European Monetary Union
Renegotiate terms of the EFSF
Either way, Papandreou wins.
Explanation of My Position
Please do not read any more into this than exists. The facts of the matter are French, German, and other European banks made stupid loans to Greece, Portugal, Spain, Ireland, etc.
Banks that make stupid lending decisions (and not taxpayers) should pay the price for those actions.
Greece desperately needs reforms, particularly in the public union area. I support those reforms.
However, I do not support the bailing out of banks. Unfortunately, all this alleged "help" to Greece is nothing more than an obvious attempt to bail out banks at the expense of Greece and European taxpayers in general.
http://globaleconomicanalysis.blogspot.com/2011/11/brilliant-moves-by-papandreou-emu.html
Thursday, 3 November 2011
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