…greece, an odyssey from debt to deliverance…

…no need for charon or cerberus…

Brazil has a population of some 200 million, compared with Greece with one of some 11 million.

So we set sail with a teaser from down south. And for that we have to thank Jake Johnston of The Americas Blog of CEPR. From this, armed with analysis our imaginations can safely take to flight, but without the bravado of Icarus. Why is the US Government Still Hiding What They Did to Brazil in 1998?  Read the rest of this entry »


…has greece lost its marbles? o, imf, where’s thy ‘sting’?…

…in that crazy interconnected world of global finance, even the slow of mind can detect patterns…

The Troika is predictably not amused. And the IMF is fed up, ‘mad as Hell and is not going to take it anymore’ sort of thing. Greece has been sent to Coventry for total misbehaviour: to return only when ties can be found and worn, and the miscreants return with with some drachmas euros by the palette full.

The democratically elected – no, not ‘democratically elected’ – Prime Minister of Greece and his colleagues have seemed too preoccupied with the mandate conferred upon them by the Greek people, not good. What audacity. What, well, hubris! And for that, IMF walks out of Greece bailout talks. As The Guardian would report,

The International Monetary Fund dramatically pulled out of talks with debt-stricken Greece on Thursday after it accused Athens of failing to compromise over labour market and pension reforms.

Read the rest of this entry »

…life and sport…

…as the twain do meet…

As we wait for the next match, France v Nigeria and Germany v Algeria, for the door home, we look at what Greece, to the relief of Los Ticos, did not do – play as life should be celebrated, with zest. As The Guardian describes the Greece defense for that goal scored at tortoise speed during regulation time, “…they will kick themselves for some statuesque defending…”, defender and goalie much slower than the statue of Hermes.

Did England learn from this team?

…Of course, not to be forgotten is Greece’s Economic Trials of Hercules or its players selfless generosity…

Leprechaunomics, begorra!

The luck of the Irish. This one we couldn’t invent. If even Dean Baker couldn’t believe it, who then are we? And when the usually staid, data-focused Calculated Risk joins the fray, we know we’re up a creek and hoping the Irish Times is, well, being impishly Irish with its tale, Recession out of the picture as Fermanagh puts on a brave face for G8leaders”.

4a38392c-81f9-4159-897b-e7118fe8605d-460x252Ireland GDP U

On 17 and 18 June 2013, the G8 leaders are to meet in Fermanagh, Ireland. And if that wasn’t bad luck enough for the Irish (and the unprivileged rest of the world), it was necessary to transmogrify evident signs of severe economic distress into sparkling and booming affluence. So in came the Leprechaunomists with their magic, inspired by one (case of) Guinness too many. Poof! No severe economic downturn. No brutal unemployment. The magic of Expansionary Austerity.

The blarney will meet the, the, well, to adapt Alvy Singer, “I happen to have Prof Frankfurt’s essay right here”. No pot- o’-gold for the Irish at the end of this rainbow.

Update, 21 June: Aside that comical, obligatory photo-op of posing with a Guinness, we have an incisive, withering take-down of the farce, the hypocrisy

We give praise to Honourable Clare Daly with this special shamrock.