Friday, November 4, 2011

Greeksmanship!

Another day, another twist in the Greek drama playing out across the world's stock exchanges and into the heart of the Euro Zone.

Today's instalment of Get it from the Greeks features the prospect of a government change, with the Greek Parliament expressing its confidence or lack thereof in the Prime Minister.

All sorts of subplots surround the deliberations of the Greek Parliament and where it all comes to a resting place is but the purview of the Gods of Olympus.

Since the rocks started rolling from the Greek hills, we've seen a planned referendum hailed and panned in the same breath,  the surprise moment from Greek Prime Minister  (for now) Papandreou a curious gambit that quickly got quashed after a summons to meet with Angela Merkel and Ncholas Sarkozy, the Euro tandem seemingly laying down the Euro law to their mischievous Greek ally.

From there we've seen any number os scenarios unfold, from a coalition government of unity (seemingly a non starter with the opposition) to a change in government with the Prime Minister to resign, in some quarters, even the whisper of a military coup wafted through the air, suggestive that the mess that is Greece may be beyond control now.

The EU has already advised that no further financial assistance will be provided to Greece until they have come to some kind of arrangement on the financial package originally arranged.

Add onto that the rumblings from the Euro partners that perhaps it's time to bid Greece avrio and let them count their own drachmas, while Europe tends to its own troubles and the scene seems set for a final showdown.

In the end, they may get pushed out or, the Greeks may take heart the words of Groucho Marx, with the declaration of "we wouldn't want to be a member of any club that would have us".

As events move forward and quickly so, Greece may end up the afterthought of the drama unravelling in Europe, for most of Europe the Greek situation seems so much old history, with Italy now the new potential tipping point for the grand experiment of European Unity.

Considering the rather melodramatic nature of Silvio Berlusconi's rule, there may be even more drama to come, this one from the Italian stage.

Either way, it would seem that things are going to be quite interesting among the ruins from the continent for more than a few months to come.


Gird for 'reasonably possible' Greek exit from euro zone, Flahtery tells G20
Disillusioned Greeks despair at political drama
Euro zone finds no new money for debt crisis at G20
G20 nations balk at investing in Europe's bailout fund
Things could get ugly' as Greece braces for confidence vote
Give up the euro might be the best move
Ottawa to Europe: Fix your own mess
Greece aims for crisis coalition
Greece may leave euro, leaders admit
Greece PM Papandreou faces knife-edge confidence vote
How Greece might leave the Euro?
Revenge of the Sovereign Nation
Europe falls victim to a classic Greek tragedy

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