Get your weekend off to a great start with a dose of Ambrose Evans-Pritchard!
He writes in the UK's Telegraph:
The European Central Bank, the EMU bail-out fund, and the International Monetary Fund, among others, are lashing out in fury against an elected government that refuses to do what it is told.
Does anybody dispute that the ECB - via the Bank of Greece - is actively inciting a bank run:
- It warned of an "uncontrollable crisis" if there is no creditor deal
- followed by soaring inflation
- "an exponential rise in unemployment"
- and a "collapse of all that the Greek economy has achieved over the years of its EU, and especially its euro area, membership".
The guardian of financial stability is consciously and deliberately accelerating a financial crisis in an EMU member state - with possible risks of pan-EMU and broader global contagion - as a negotiating tactic to force Greece to the table.
What is it the kids say?
"Tell us what ya really think!"
-
There another summit/meeting on Monday, which will be the prelude to the next meeting, and the one after that ... or maybe, not!
