Game Over (Part 2)

torn greece flagThe recent riots and anger of the Greek people signs a next step in EU dismantlement. The NIMBY (Not In My Back Yard)  is still your friend, my dear Europe . The Greek financial-economical disaster is not a “pure” Greek product. Many Eastern-European countries including Italy. Germany, United Kingdom are co-responsible for the Greek’s mess. A European country that cheap to have holidays “hot deal” with low costs, no receipts in a large number of restaurants, bars and other facilities. We (the Western Europeans) were happy to have a cheap holiday liaison right next door in Europe.

Further the entrance of Greece into the EURO monetary union wasn’t tidy checked. Or should I say was “accepted” behind knowledge of some “rounded” numbers.

Greece is the first fine example of unconfined, wild-west financial speculation globally where few players hold all the cards and the countries are the poker money. Watch the US-based rating agencies firing down European and other countries due to their “opulent” debts. What about your backyard my US friend?

Let’s stop this illusion about a Europe in “five minutes” (why weren’t we so hot to enlarge the EU to 27 meanwhile we knew our differences not to be settled when we were only 12?). Who pushed Kohl, Ciampi, Mitterand and other leaders to stipulate and realize the EURO zone.

As long as Europe is still in NIMBY state all efforts will be vain.

What we need is younger politicians with innovative ideas. Why do we target on innovation on labour market, in economics but not in politics? Why do we need to support statements of  Old Men who already saved their big pensions for the next 2 generations.

And now look what all this is brinhing us to… People of an EU country burn the national flag of another EU country. My dear Europe, I think you have a big problem.

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To the Greek Ambassadors in all EU countries:

Dear Sirs,

I am indignant about the fact that Greek people burn the flag of my country. We, the people of Germany, often do not agree with our government and especially with tax rising decisions. I completely understand the anger and frustration the Greek people pass in these days. Further I do believe that your country is undergoing any possible solutions to light up the dark of debts your are swallowed in but. But burning in rage a nations flag is not an excuse to that. Think about we would burn your flag in German cities? Wouldn’t you tag us immediately “NAZIS” or xenophobists?

 

 

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Weak with Greek

In big trouble this time

Recent development in a Greece default are rising up as Standard & Poor’s dropped Greeks bonds to “junk-bonds”. This in another fine example of how the carnivorous free market is feeding itself with a big nutrient called speculation. And European leaders and policy are not even helpful at all as they are divided (what a gap!) on how to handle the Greek question. Many people knew that Greece when added to the EU currency union it’s economical and financial structure is not up to the state-of-the-art of other nations. Negligence and tax evasion did the rest. European financial observers were surely up to the view about Greek’s national debt and status. And they played with it on the stock exchanges. Then there were all the tourists going to Greece having cheap holidays in an EU country (=means you have the security and stability of an EU country and can pay with your EUR money). I think none of the vacationers to Greece ever thought about the cheap services and meals you could get there and why in many places small restaurants neither had a cash desk(!).

And so we did have Greece it’s own ongoing despite the “strange” issues it has inside. Politicians are very cautious about their arguments they put on table. As long as Greece was able to handle it’s enormous debt it’s own way everything was fine. And I cannot believe the ECB never thought (at least a bit) about the huge debt and deficit of the Greek economy. Then Lehman Brothers bought more decline to the fragile Greek economy, suffering the last 10-15 years. Greece (I supposed) was hoping in stability entering the EUR currency club. But with no strange austerity and new procedures of optimization in public administration and spending this positive effect never came to work.

Nowdays we are witness to the market ruling Greece it’s own way. Markets will have Greece to fail to speculate on it’s default.

Yes, we need to reprove Greece about it’s household’s over the last 10-15 years. Yes, we need to blame our EU politicians because they never took an eyeball deeper into Greece to understand maybe future risks. Yes, we need to condemn unlimited speculations on state defaults.

The latest shout-outs about a “kick-out” of Greece out of the EU currency union are ridiculous. Even Germany (I suppose) was basically informed about the Greeks economical, social and financial weakness and the policies that came to work in the Hellenic country. Policies that didn’t target on efficiency and saving in costs of public administration and health care. So Germany is right to invoke strict rules if any help package should be sent to Athens. And Athens itself needs to confess it’s sin not be have worked as recommended on it’s internal problems. But Germany cannot almost kick out Greece of the European Currency Union because they are near default. This kick out might be a huge damage to the EURO. In fact, many think that the EURO know is running it’s real challenge since introduction in 1999. To find mechanisms and control strategies to deny further ASAD “a-state-almost-default” events. But Bruxelles and it’s member states are not really willing to touch deep issues on how to deal with this “Greek geek”. The EU European Union) needs finally to stand tall as one entity and to find ways to point out long-term policy goals and to win nationalism in it’s member countries.

As you can see, big institutions have the same behavior of human beings. We realize the “wrong” or the “emergency” only in case of it’s put into effect. So we skip smoking only when told by the medic we have lung cancer. Preventive measures we didn’t apply to avoid it. Ad that’s the same many deal recklessness with their money until one day the eviction letters flies in.

In big or small, we do it all (the same way like they do).