Yesterday we made an amusing contrast between the lies of European insolvent state annexator general Olli Rehn who said that "Greece’s debt is on a “durable declining path” and new projections will show that the second rescue program reduces net liabilities, European Union Economic and Monetary Commissioner Olli Rehn said" and the truth uttered by Greek budget committee head Stella-Savva Balfousia, who said "Greece's debt has run out of control and government policies are failing to restore finances." Guess which one just got the axe. No this is not a trick question. And if you said prematurely terminated Devan Sherma you get half a point, because as the more observant out there may have noticed, the only benefit for blowing the whistle these days is immediate and irrevocable termination from both one's high profile job, and the status quoTM.
The chief of an independent Greek budget committee resigned on Thursday after the country's finance minister attacked the group for saying debt dynamics were 'out of control', sources said.
The resignation may further complicate debt-choked Greece's already difficult negotiations with its international lenders about the disbursement of further aid tranches under a 110 billion euro ($156 billion) rescue package agreed last year.
Finance Minister Evangelos Venizelos on Thursday scathingly attacked the committee. "Yesterday's report lacks elements of credibility of other international reports," he said in a statement. "All necessary measures will be taken to upgrade and improve the credibility of the committee," he added.
Balfousia stepped down later on Thursday after Venizelos's comments, parliamentary and top government sources said. "She has submitted her resignation to the parliament speaker," one official said.
And presto: the credibility of the committee is immediately improved. Of course, anyone who actually thinks that is obviously a psychopath. Which unfortunately explains why by the time "this" is all over the world will be once again controlled by a bunch of genocidal maniacs hell bent on extending the system for one more day until something changes and things get back to how they were.
In the meantime, Greece has just lost its one last credible voice:
The committee was appointed by the Finance Ministry in 2010 as part of efforts to increase the transparency of the country's murky finances.
Balfousia, who was not available to comment, was also a key player in a previous panel of experts, which had unearthed statistical irregularities and manipulations used to conceal the true state of Greece's finances.
All snark aside, what is becoming truly evident (to everyone except those who matter) is that the entire European insolvent periphery is now merely squeezing as much money out of the core as they can before everything falls apart. Which is fine: since neither the core nor the periphery harbors any illusions that a Hollywood ending is possible, the final victim will be traditional one: that species on the verge of extinction, the global middle class. Which perhaps is long overdue: living in the debilitating comfort of the Bismarckian welfare state has lasted far too long as is.