Finally the kings and queens of European Union and relevant royal families like the one in Germany woke up. In fact, they were violently rose from their beds with a painful kick landing at their snobbish butts. They came running down the imperial staircase to the living room. Confirmed reports insist, it is a real miracle they didn’t stumped over their long, old-fashioned night gowns and bumped against eath other. In that general panic, somebody forgot his glasses on the night table, another his denture in the water; even a queen appeared with a wing slanting over her head.
With white caps on the heads, and darkened candlesticks in their hands, the crowd of EU aristocrats gathered at the vast of the stairs and started to shout: “What was that?”, “Somebody kicked me but I didn’t see anyone!”, “Me too! Me Too” , “Same happened to me!”. A real pandemonium of languages, until somebody said in a clear tone: “It was a ghost! A ghost in the castle of the European Union”.
Oh yes, the light blue shadow of ghost called Moody’s had downgraded Portugal by two full notches right with a single ‘junk’ kick. After hacking down Greece, now Portugal? That was too much! That means things had gone out of control and the alarm bells made a cacophonous sound.
The angry reaction came immediately from King Barroso, a Portuguese, who spoke of “fuelling speculation”, “signs of bias” and “cut reliance on credit ratings” (EU attacks credit rating agencies ).
Queen Merkel had already attacked the ratings agencies the previous day saying that “the EU had depended for too long on the opinion of outside”.
Oh really? When Greek PM G. Papandreou was complaining about the willful attacks of the ratings agencies, the kings & queen were indifferently whistling around, focusing on the seducing attractions of Greece, calculating their profits in the country’s sell-off.
By next Gong it will be “Spain”! We advise the candidates to stand in the queue.
PS. This post is written in full solidarity and support of the Portuguese people.
PS. That was always the challenge in the Fairy Tale “Frog Prince”: You kiss a Frog, you get a Prince. But if you kiss a Prince, you most likely get a Frog.
You might want to re-read the “Frog Prince”: You get the prince for throwing the impertinent frog against the stone wall, not for kissing it.
I knew it was something worng with the Frog Princ-i-ple version I was reading! thanks!
http://www.businessinsider.com/this-is-what-will-happen-if-greece-defaults-2011-6#greek-banks-get-nationalized-1 PLEASE READ DOWN THE PAGE APPLES COMENT
Thanks for this great tall tale. I’ve translated it – loosely – into German:
http://dierotenschuhe.blogspot.com/2011/07/tritt-in-den-eu-hintern.html
Vielen Dank
Great metaphor! Very good point.
It really looked like a fairy tale!
Main problem of the rating agencies is that they have had two high ratings for all southern Europe for the last 5-10 years. This correction comes years too late.