Cyprus is the Homage

Three months ago, Yanis Varoufakis explained Europe’s bogus growth pact and the papering over the cracks that was imagesbeing done by the IMF and ECB, “The idea here is that, yet again, the Eurogroup-ECB-IMF alliance is not ready, politically, to reveal the truth to its various constituencies.” He was, obviously, correct. This weekend, in a brief BBC Radio interview (below), as Cyprus erupts and brings the European circus back into town, Varoufakis exclaims, “every bailout agreement, beginning with Greece’s in May 2010, seems less logical and more toxic than the previous one.”

In three minutes, the Greek economist illustrates how the leaders are laying waste to the supposed pillars upon which the European Union was founded. Continue reading “Cyprus is the Homage”

Contagion Predicting for Euro

Well the election is over in Greece and the New democracy party gained and possible that they will need support from Syriza to form the government. The question still remain in my mind. Can the Greece leave he euro quietly ? well possible but a lot of arguments has already been put in to  posts and the economists, financial baron have discussed.

When I say possible because the Greek economy is just 2% of the Euro zone GDP. but here again it  already had plenty of noise knock on effects. Continue reading “Contagion Predicting for Euro”