... I should have listened a bit more carefully...
Indeed you should! That sort of information could cause Steffan to spontaneously combust !!
Who is noticable by his absense here for a little while, maybe he already has !?
(Read a few random pages of this topic if you don't know who Steffan is
Not yet combusted, spontaneously or otherwise. Domestic pressure with daughter in University College Hospital in London and Mother in Law in Preston Royal Hospital, is a slight logistics challenge. Reality of life I fear.
On the question of when the HBAT's are down I do think the gameplan is changing. We all know Greece is toast, which means the EU have lost a couple of Trillion Euro's for nothing. That's more than even I spend on cars!
What happens next. Greece will still try to wheedle a bit more out of the EU with promises and good intentions, but I would think that, even the EU, incompetent and feckless though the leaders have been, has begun to see the downside of throwing good money after bad.
The real question is what will the EU do next about the HBAT's still waiting to fall out of the Euro namely, Portugal Spain and Italy?
Many contributors such as Mermaid, and others, have quite correctly repeatedly warned that the financial ability of the EU, to gloss over problems within the EU, is immense.
This is because the EU has no concern about throwing away trillions of Euro's the EU taxpayers money. As we have seen.
Could the EU hold the remaining HBATS in the Euro? On balance, despite the EU profligacy, in the economic recession already faced, throughout Europe, there is IMO not a chance for all the HBAT's. The insolvency of all these defaulting states is steadily growing and way beyond the recovery point for all of them.
What the EU can and IMO will do is to delay, delay, delay. That will be the new gameplan. In that way the hammerblow of all the HBAT's falling out of the Euro AT THE SAME TIME, can be avoided and the consequences spread over possibly some years.
The costs to the EU will be horrendous but what do the EU leaders care.? Its not their money. It ours!
That is how I see it now. Greeks out in a pretty short order, then obfuscation galore, by the EU, with lots of Major Summits, Strategic Agreements, Group Meetings, Conferences, Administrative Arrangements, Rescue Plans, New Financial Initiatives and other such timewasting devices. All of which will have absolutely no effect on the outcome. The csts will be be horrendous but it could buy time. Which will be the EU sole concern
This could extend the time the HBAT's remain in the Euro. Typical dishonest misrepresentation, by the EU and vast amounts of EU taxpayers money wasted. Business as usual there then.
There are no fixes for thus mess. Simply, very sad, injurious and grossly unfair consequences. To everyone in the EU except the Politicians.