"History is a wonderful thing, if only it was true"

Friday, May 07, 2010


Will the politicians get a clue?
Will they understand that piling on debt is not a great idea?

Currently it's a model of throwing debt into the market, then they will be astonished that they markets choke on this flood.

Call it debt water-boarding?

FT.com / Comment / Opinion - Understanding the Greek aftershocks:

"The Greek crisis has already morphed into a regional (eurozone) shock. It now stands on the verge of morphing into a more global phenomenon.

Some countries will benefit, mainly on account of capital flows coming out of the eurozone. The majority will not. And even those that do benefit should remain vigilant and responsive. Like most other countries in the world, they will also end up suffering from the consequences of lower international demand and renewed disruptions to the global banking system."

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