Comments on: Chaotic catharsis Mon, 18 Apr 2016 14:55:08 +0000 hourly 1 By: scythe Tue, 08 Nov 2011 23:24:28 +0000 “old political castes die hard”

That is why the eurozone monetary policy is not the quantitative easing (sounds like flatulence) used in england and us of america.

Since 26 October, the eurozone membership showed errant politicians that their fiscal policy either performs or reforms. Recalcitrant Greek politicians now understand that other eurozone members are not going to financially support them.

So England and its City financiers need to realise that the eurozone is not going to prevent Greece and Italy receiving their fiscal spanking. And the rest of Central Europe is solidly behind markets punishing politicians from any caste who wallow in the troughs of corruption and lassitude.

No amount of anti-euro inflammatory headlines from the uk section of reuters will change that course of action.

By: ARJTurgot2 Tue, 08 Nov 2011 14:06:59 +0000 @sue

This is the epilog to the tragedy. European civilization committed suicide in two world wars.

By: Matthew_Sleigh Tue, 08 Nov 2011 10:13:05 +0000 In ancient Greece, catharsis was a blood sacrifice, purification and house-cleansing: healing through purging.
The household detritus was taken to a crossroads, or shrine to Hekate, and left – without looking back.
We should be so lucky.

By: llois Mon, 07 Nov 2011 22:33:50 +0000 Sir , everything is one political game. You all have been very unfair with the PM George Papandreou. Before he got to the referendum decision, he had to face a lot of political contraversy which was leading to be politically unstable. It is very difficult to lead a country or better to govern one which everybody are totally against you. European union and especially Greece , had nothing to be afraid from the referendum. Maybe the greek people were disappointed but none of them wanted to leave the European Union. George Papandreou was the only strong educated and well recognized person that could face the European Leaders and tell as it is. Referendum is the democracy in action. Is the people’s vote for matters that their lives depend on them .

By: SueSueSue Mon, 07 Nov 2011 17:43:18 +0000 The comment on blithe optimism is well taken. So is the writer’s warning of impending chaos. As a complete non-expert in Europe, it seems to me what we’re watching is suicide in slow motion. I wish they’d just get on with it and let the chips fall where it may. Cheer up, blithe optimism, you’re about to observe a Greek tragedy unfold in real time, hopefully far enough away that you can simply enjoy the catharsis and learn the adaptive lessons required.

Which are that the banks have got to fail, the top heavy financial services sector has to be squashed, major multinationals have to be broken up into more competitive and smaller pieces, and politicians have to start refusing bribes in favour of stern action in support of the best interests of their peoples or they’ll get chucked out of office. Or worse. (That means more welfare, not less, by the way).

By: ARJTurgot2 Mon, 07 Nov 2011 16:24:21 +0000 I think you are being blithely optimistic. If they get their act together on the bonds, they survive, but it is not a solution to their problems. For all their snobbish pretense of their cultural superiority, the Europeans have never gotten close to the level of governmental sophistication that the U.S. took as its first principal. The solution they are attempting to create is based on a German/French collaboration, which will alienate and threaten the British, the Dutch, the Scands, ‘new Europe’, and the Med states. They will tolerate it for now, knowing they can veto it later. The EU is carefully crafted to avoid the concentration of power, that, tho the T-Par-T hates it, Washington exercises routinely, in routinely avoiding the unsolvable problems of Europe. I’ll take my puritanical, rustic, jingoistic, declining empire over their odds any day.