Saturday, January 28, 2012

Better Than Tanks I Suppose

Germany proposes sending in a giant wooden badger.

The move to make Greece hand over control of budgetary policy as the price for agreeing a €130bn rescue package would represent a humiliating blow to Greece's hopes of controlling its own destiny but could offer a means of staving off financial ruin.

The proposal was made by Germany as the euro group considered how extra finance should be offered to countries such as Greece which need support but are "continuously off-track" with their budgets. The idea, a source told Reuters, would be that European institutions already operating in Greece should be given "certain decision-making powers" over fiscal policy.

The right response is, "fuck off, bail out your own goddamn banks."

I do hope this is all a big stalling tactic to give time to get their secret drachma re-release program up and running, but I doubt it.