DRAGHI INTERVENES TO SAVE GREEK DEAL, BUT DEADLINE SLIPS YET AGAIN
The largest Greek Party in the last General Election – Pasok – has seen its support slump in a new poll, by Public Issue for the Kathimerini newspaper, from 44% to 8%.
That’s the sort of drop to make the LibDems look like a roaring success. And it sort of shows just how popular the Merkozy strategy is.
But other opinion polls also show that the majority of Greeks w ant to stay in the eurozone. This is what we financial experts call wanting your cake, and eating it with a double helping of jam and clotted cream on the side: “Sure, we owe a lot of money – but we like it here, except when you tell us to pay it back”.
At times, one can see what pisses Berlin off about the Greeks. Another way of saying this, mind you, is to suggest that the two sides thoroughly deserve each other.
Meanwhile, in the here and now…
The Cabinet meeting scheduled for 10.00am in Athens (9.00am GMT) has been put back to 12.30. Sources suggest that the one-to-one between Papademos and Dallara didn’t go to plan. Imagine that. The latest excuse for delay is “we lost some paperwork”. Never in the field of Sovereign debt restructuring did so many work so hard to achieve nothing of value.
Allegedly, however, late last night Mario Draghi intervened – nobody knows in what way exactly as yet – but it seems he is offering a deal whereby the ECB will take the hit on some debt. This is precisely the sort of disguised debt-forgiveness The Slog recommended in the ‘let’s not make Portugal like Greece’ post yesterday, so it’s good to see that SuperMario is still a keen Slogger. No doubt he’ll have something to say in the comment threads later.