It is clear from the EU Finance Ministers' template-like comments to the press what the real worry is in Europe (and the world). It's not The Greeks (Schaeuble: "No other decision was possible, no problem with Greek referendum... need to see what happens next"), it's something else:
- *SCHAEUBLE SAYS DOING EVERYTHING POSSIBLE TO AVERT MARKET UNEASE
- *PADOAN: INSTRUMENTS IN PLACE TO COUNTER POSSIBLE CONTAGION
- *DIJSSELBLOEM: OUR INSTITUTIONS ARE PREPARED TO TAKE ANY ACTION
- *STUBB: "I DO NOT SEE A RISK OF CONTAGION"
- *SCHAEUBLE SAYS WE'LL DO EVERYTHING TO FIGHT CONTAGION THREAT
- *PADOAN: IF INSTABILITY, ECB HAS INSTRUMENTS TO INTERVENE
And then there's this utter rubbish:
- ITALY'S PADOAN: "EURO AREA IS VERY STRONG."
- SCHAEUBLE SAYS EURO ZONE IS STABLE, REMAINS STABLE
But then they spew this...
- *PADOAN: "AT THIS POINT WE HAVE A CRISIS SITUATION''
- *SCHAEUBLE SAYS GREEK DECISION WILL RESULT IN DAYS OF UNQUIET
What a farce!
* * *
Save The Markets, screw The Greeks; save The Bankers, screw Democracy.
* * *
Over to you Draghi...
[2]
Unleash the bond-buying... let's just hope that Buba plays along.
