The Slog
August 9, 2012
Intrigue, austerity denial, side-deals, and economic collapse: but the bottom line is ‘debt monetisation’
Coalition dilemma…which way is up?
Senior sources close to Greek Opposition MPs are claiming this morning that those calling the shots in the ruling Coalition of Antonis Samaras do not view a return to the drachma with American support as “a viable alternative to staying within the EU”. The Troika’s abrupt change of attitude to Greece is also suggesting to some observers that “some kind of secret deal” has been done between the ECB and Athens to both reassure the Troikanauts, and keep the Greeks onside. But it’s clear the Germans aren’t on board with this.
Something very odd indeed is going on between Brussels, Berlin, Frankfurt, Washington and Athens. On all sides, things said in public are either slightly mad, or completely different to what is thought in private – and then executed while nobody is looking. Facial expressions and media soundbites have turned 180 degrees to give the impression of Jolly Good Pals. But there is a great deal of intrigue going on behind all this.
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