I’m currently in the process of getting raped at work. Where the sun don’t shine. I have more than one portfolio, each with their own massive on-going projects, with several deals that we’re pursuing (and mostly rejecting), while our problem daughter investments are being whiny brats, all the while I have to travel half way around the world (which normally I would like but in this case I have to go and come back in the space of 7 days, including 36 hours of flying). Don’t be surprised if zolltan is the only one showing his face around here for at least the next month.
1. I do believe this will be my final comment on the whole Euro-problem and I have to say that it confirms my original goal with all this blog writing (editor’s note: the term is blogging, douche) that I decided to experiment with in the first place: to track the random thoughts that stream through my consciousness.
Not to toot my own horn, but the most valuable aspect of writing (to me anyway) is that it has made me sit down and think critically about issues, such that most of my Euro-posts have been leading the unfolding events, rather than reacting after the fact. My sense of self-satisfaction is equal to fat elvis’s (editor’s note: how insufferable for zuuko’s friends and colleagues to have to be subjected to that).
The following quotes from the last 48 hours take me back to my very first post where I suggested that the Greeks should consider leaving the Euro:
“Does Greece want to remain part of the euro zone or not?” German Chancellor Angela Merkel asked at a joint news conference with French President Nicolas Sarkozy late Wednesday night. “That is the question the Greek people must now answer.”
“The dilemma isn’t ‘this or another government,’ ” he <PM Papandreou> said. “The dilemma is ‘yes or no to the loan accord,’ ‘yes or no to Europe,’ ‘yes or no to the euro.’”
For all the scorn, derision and blame being heaped on the Greeks for scuttling the (latest) solution, I can’t help but think that the Greek referendum at least gets to heart of the matter. The three-pronged approach to band-aid the problems was clearly failing in the absence of debt write-offs and/or debt-holder bailouts (editor’s note: he means bank recapitalizations). Once Merkozy finally understood that a trillion-dollar bailout of Greece, European banks, and/or a combination of the two was necessary, there were questions raised as to how Europe was going to fund it, without Merkozy breaking their own balance sheet. The next logical step is European-wide taxation, but that is dependent on increased political integration. Finally, this Greek referendum should act as a clear sign of Europe’s future.
UPDATE: apparently the referendum has been cancelled (boy, am I glad I posted this when I did). In a reply to a comment in this post, I mentioned, “Who knows if the Greeks are being held by the short’n’curlies and maybe they can’t <leave the Eurozone>.” I believe that has been answered. Merkozy has a vice-like grip. Don’t get near it fat elvis (editor’s note: Word!).
I’ve been meaning to post on the Tea Party in a while, and specifically Bruce Bartlett. I agree with zolltan’s post on Paul Ryan and that provided me with the perfect opportunity to link to this interview with Bruce. If only the Republicans sounded like this particular right winger instead of the histrionics of Messier Ryan et al, they’d be more deserving of your votes (editor’s note: click the link below; zuuko’s balls-out self-satisfaction clearly can’t figure out how to do a simple embed).