Hang on a minute, that wasn't in the plans. Greece has decided to hold a referendum on whether to return to a simplistic existence herding goats and growing olives or propping up a Ponzi Euro with the sweat of their childrens labour.
The carefully crafted bailout package that nobody understands but would save the arses of Europes elite bankers and politicians has managed to last just four days. The man behind the curtain has been rumbled.
How come?
The people are going to be asked whether they are happy to be enslaved in EU debt and living for a pittance whilst prices for a coffee remain as high as Berlin or simply say "sod it. I'll make do like my parents did, this bloody growth bubble not helping me at all, innit"
The markets are not in panic. They are adjusting quite naturally to a hard dose of reality that some people might not get their money back because no matter how much can be extracted forcibly from German taxpayers, the Greeks will simply say "thanks, but no thanks". Capitalism is being allowed to work, banks who recklessly over invested because the Politicians told them the well would never run dry are losing their shirts and the Greeks have spotted that the EURO emperor is naked as the day it was born.
More please, Toto. Keep pulling at the curtains....
http://bastardoldholborn.blogspot.com/2011/11/emperor-is-naked.html
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