Remember the lyrics from the Beatles’ song Yellow Submarine? There is a line “And the band begins to play” followed by trumpets playing “PrAMPrAMPrAM-PrAM!” That was in the late 60’s but associative thinking to today’s world make songs like that a ‘classic’. Because they are diachronic. The Beatles have fallen apart but contemporary economic Cassandras-bands keep playing the tunes “Greece is default”. They keep beating their drums and blowing their trumpets just days after Euro group leaders agreed on financial facilitation’s for the debt-driven country. And keep singing in a chorus:
(Full speed ahead, Mr. Barkley, full speed ahead!
Full speed over here, sir!
All together! All together!
Aye, aye, sir, fire!
Captain! Captain!
This time it is the European Financial Stability Facility (EFSF) chief, Klaus Regling, who blows his Jericho horn and spreading the song “Greece might restructure (its debt)”. No, it’s not he himself personally who said that to Reuters, but “sources” with curry-wurst sauces.
Klaus Regling told German coalition government politicians that the question of whether Greece would have to restructure its debt cannot yet be answered.
Oddly enough it was the German Chancellor Angela Merkel who she herself personally rejected a restructuring of Greek debt, telling the daily BILD newspaper that “no instruments” for that were available, and thus as recent as March 10, 2011.
I hope the big heads in Germany will manage to create a common line in a sustainable chorus line, otherwise I see the band falling apart like The Beatles.
Read also :EFSF-Chief admits Germany makes profit from bailout to Greece
