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Bland & Boring as usual: Grexit-dish served by ECB’s Nowotny

Despite some progress recorded during the Brussels Group meeting on Saturday, creditors’ pressure against Greece remains high. It is the same indirect threat being told over and over again. That the eurozone is not afraid of a Greek exit from the eurozone as the impact would not be as devastating as it would have been in 2012 or even in 2010. The same threat that triggers extreme yawning attacks to humans and pets alike. Not to mention the Super Boredom-effect such platitudes create among traders and investors questioning if a Grexit would be followed by other EZ countries.

The last one standing on the queue of run-out-of-creative-solutions creditors  is Ewald Nowotny a member of the European Central Bank’s policy-setting Governing Council.

He told US broadcaster CNBC:

“It (a Greek exit) does not have that impact or potential impact on the euro zone as it would have had … some two years ago. I really don’t see a contagion in the financial and economic sense,” Nowotny said and garnished the bland Grexit-dish with the usual boiled-in-water boring greens like “time is running out” and “Greek government has to provide numbers.”

He stressed that he did not believe there would be a deal between Greece and its creditors this week. On Eurogroup on April 24th, you know.

For some unexplained reason, he refrained from adding sprinkles of effectual plattitude “we run out of patience”.

He also forgot to explain that from 2010 to 2012 creditors got rid of contagious Greek bonds.

The Austrian Social-Democrat politician did not even bother to mention whether European Commission President Jean-Claude Juncker, German Chancellor Angela Merkel and French President Francois Hollande would love to go into history as the politicians who blew away the currency union of fiscal un-union.

But all these politicians are bound to the anti-Greek propaganda they have been serving for the last five years to their voters to cover their own mistakes and wrong doings like displacing private debt to the shoulders of taxpayers across Europe.

No, I am not that romantic and idealistic awaiting from politicians to be honest once in their lifetime. I am just afraid that I will die of sheer boredom…

PS my cat left me already for the same reason. She accused me of dealing with extraordinary boring stuff.


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