As the creaking noises erupting from the financial corsets of the European Central Bank become ever more audible, the news that Greece cannot currently pay the IMF its June
protection payment loan installment comes as no surprise. When Greece joined the Euro in 2001 it went into a public sector spend, spend, spend spiral. Now they will reap the fiscal whirlwind. As will all the other countries in the Eurozone. Well, that’ll piss off the EU. Especially Frau Merk inel.
Yet the Greeks want the Elgin Marbles returned? Well okay, so long as they fully reimburse the British Museum for storage, transportation, restoration, and associated costs backdated to 1816. At full commercial rates. Cash terms only. No credit. Gold preferred.
Which rather proves Margaret Thatchers assertion from a 1976 TV interview when she said “Socialist governments traditionally do make a financial mess. They always run out of other people’s money.”
At the time then leader of the opposition Thatcher was talking about the mess left, and being made by, the Wilson, Callaghan and Heath Governments. Brown and Balls did the same for the UK from 1997-2009. The same might be said of the current Greek administration, and no matter how many riots they have in Athens, it won’t pay any of the Greek Governments debts. Simple truth; riots don’t pay bills, they only create more. Voting for more taxes on the ‘rich’. Won’t work. The real rich of course will have melted away like the Cheshire Cat, leaving only the shark tooth smile of massive accountancy bills. Then the only poor buggers with anything left, like small landlords, business owners and the self employed will be left to shoulder the whole burden of state spending. And they will lose everything. Twas ever thus.
Any ancienne route jusqu’à, I’m in Europe for the next two weeks, so maybe I should spend most of my cash Euro’s before July when they might just become worthless. Just in case. Pass the Cognac.