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And just like that, the first big thing broke (Europe)
61% No in Greece. That wasn’t supposed to happen. But it has, and now we are in uncharted territory. Some random observations: Syriza has just effectively won an election with 60%+ of the vote. The strategy of waiting for a different government going back to business as usual, as some in Europe have done, has […]
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Financial Götterdämmerung
So the Europeans killed the Europe-Greek negotiations today because of the Greeks’ insolence to ask their citizens for approval. Insolent, no doubt: @yanisvaroufakis Democracy? You crazy Greeks. It’ll never catch on. ;) — Roland Yanez (@rolandyanez) June 26, 2015 But why? If you cut through all the clutter, there’s a simple explanation: The powers-that-are need […]
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(Greek) CFO vs (European) Accountants
Ever wondered what the difference was between a Chief Financial Officer, and an accountant? The Greek tragedy (farce?) playing out in the 9th act has it on display, every day. The Europeans, and the IMF, by and large are saying: “Look, Greece, here is what you owe, so you can’t spend on this, that and […]
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The two Greece problems and the impossible way forward
Following the news about Greece and its European “partners” is better than any reality show. I’d have a great time if it weren’t so serious. As I see it, two problems need to be solved: The amount of money that Greece owes cannot possibly ever be repaid. It’s far too much relative to the size […]
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The news is suddenly coming fast and furious
Many people have pointed out instabilities in the (financial) system and associated political and international arrangements. Since 2008, lots of money has been spent/printed, and lots of arrangements have been made to keep the system running, but it is doubtful that the instabilities have indeed been dramatically reduced system-wide. If they haven’t, how would we […]