Despite another media snowjob from Berlin, it is clear that without massive debt relief there will be no IMF participation in Bailout 3. But do Christine Lagarde’s doubts go even deeper?
Some of you may have noticed this, most of you won’t….which is, I suppose, The Slog’s raison d’être – if one is still deemed to exist – viz? the spotting of bollocks zipping under the radar.
Here are my three verifiable observations on the latest Greek Marathon:
The vastly improved Guardian newspaper (do enjoy your retirement, Alan) pointed this out in an excellent piece at 20.37 CET yesterday; and at 20:40 pm – three minutes behind but infinitely more definitive and outspoken – the indefatigable Frances Coppola did the same in a contribution at Forbes.
So as the eurogrope Greek protection racket swings the baseball bat once more for luck, I can confirm yet again that this is NOT an official Troika extortion. By all means call it something else – a duodenal ulcer? a duet? Tryannosaurus Duopolous? – but be in no doubt: this time, only two prongs are poking the Athenian buttock.
In reality, there are I suspect two factors inside Mme Lagarde’s head. First, she doesn’t believe either Berlin or its invented creature eurogrope want debt relief, they want Greek assets and sovereignty on a plate, so they can carpetbag the former, and toss the latter out of the eurozone when it suits them: it took Frufru a long time to get there, but better late than never. (To be fair to Chrissie, it took Syriza a long time to grasp this too).
Second however – and perhaps infinitely more disturbing, but predictable – through her still extant connections, Lagarde is party to where most of the bodies are in the EU. She knows how dire things are. And she’s not in the business of throwing even worse money after bad. She may well feel (perhaps she has been told) that IMF money could be put to better use elsewhere. She is probably also aware that Alexis Tsipras has already told the Greek Parliament’s speaker that he wants to book a Confidence Motion at the earliest opportunity.
In the meantime, I remain dejected and angry at the average Anglo-Brit’s willingness to insist on continuing to see this blatantly corrupt heist as something the crooked, lazy Greeks had coming. “Lassen-Sie nach Athens gehen” is what I tend to suggest. Well, that and “f**k off until you’ve read rather more about the timelines, players and medium-term history of all this, you morons”.