"How can I know what I think until I read what I write?" – Henry James


There are a few lone voices willing to utter heresy. I am an avid follower of Ilusion Monetaria, a blog by ex-Bank of Spain economist (and monetarist) Miguel Navascues here.
Dr Navascues calls a spade a spade. He exhorts Spain to break free of EMU oppression immediately. (Ambrose Evans-Pritchard)

lunes, 10 de octubre de 2011

Cracks kicking the dog

De nuevo, estos dos fracasados se han reunido el fin de semana para decir que van a arreglarlo todo. Que tienen un plan.
Pero no dan ni un detalle de ese plan.  Están resueltos ha resolver. Pero no dicen cómo. Lo único que dicen:
En el FT

The only concrete statement they made, however, was Ms Merkel’s announcement that “we are determined to do whatever is necessary for the recapitalisation of our banks”.

There was no sign that the two governments had yet managed to resolve their differences over whether the cash for such an exercise will come from national treasuries or from the €440bn European Financial Stability Facility, the eurozone rescue fund.
Ms Merkel also refused to be drawn on their plans to deal withthe ongoing Greek financial crisis, saying simply: “We are working closely together on Greece.” She added that they were still waiting for a report from the troika of officials from the International Monetary Fund, the European Commission and the European Central Bank, on how to meet a growing financing gap in Athens.
The two gave their press conference after an hour of talks in the German chancellery, and before meeting for a working dinner.
Es decir, que en un encuentro de 1 hora, lo han resuelto todo.  Aunque ni siquiera han resuelto sus diferencias sobre de dónde sale el dinero. Ojalá me equivoque, pero esto se va al guano. 


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