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I'm all for hitting crooks, but it seems to me that because of the willfull insanity of the Irish governement, the ECB and the other euro governments, that window of opportunity is closed.
The best thing I can see is an Irish partial sovereign default, where they default on all debt except that held by other euro nations (i.e. the ECB).
Peak oil is not an energy crisis. It is a liquid fuel crisis.
How would a sovereign default hurt anyone but the ECB (and other holders of Irish sovereign debt)?
But there are a lot of holders of Irish sovereign debt that we want to hit.
Friends come and go. Enemies accumulate.
We are talking, if the BIS is to be believed, about a quit substantial sum there.
But of course, threatening to default on the ECB isn't a bad idea either. Might motivate them to stop behaving like a hedge fund and start behaving like a central bank. Or not. But then, that would solve the problem as well...
The ECB really need this issue to be settled by a democratic mandate from the people or it will fester on for years. The opposition parties will have a mandate for some sort of renegotiation and if the ECB is obdurate and agrees nothing - then we may just have a Government collapse and another General election and another year of instability.
Do these guys ever learn?
Index of Frank's Diaries
by Oui - Jun 30 20 comments
by IdiotSavant - Jun 24 16 comments
by Oui - Jun 25 44 comments
by IdiotSavant - Jun 16 16 comments
by Frank Schnittger - Jun 15 14 comments
by Frank Schnittger - Jun 10 15 comments
by Bernard - Jun 6 23 comments
by Frank Schnittger - Jun 6 4 comments
by Oui - Jul 3
by gmoke - Jul 2
by Oui - Jun 3020 comments
by Oui - Jun 30
by Oui - Jun 296 comments
by Oui - Jun 2729 comments
by Oui - Jun 2544 comments
by IdiotSavant - Jun 2416 comments
by Oui - Jun 2310 comments
by gmoke - Jun 22
by Oui - Jun 20
by Oui - Jun 1916 comments
by asdf - Jun 184 comments
by Oui - Jun 184 comments
by IdiotSavant - Jun 1616 comments
by Frank Schnittger - Jun 1514 comments
by Oui - Jun 1311 comments
by Oui - Jun 1240 comments
by Frank Schnittger - Jun 1015 comments