Independent Greeks leader Panos Kammenos said on Thursday, after a meeting with central Bank of Greece (BoG) governor Yiorgos Provopoulos, that the signatory party in the forced loan to the Nazi occupation regime was the Greek state, and not the Bank of Greece. The BoG’s opinion, Provopoulos told him, is that while the Greek State may have been foolish enough to forgive Berlin, he hadn’t. Neither, it seems, has Mr Kammenos. You can see where they’re coming from re this one, but in the current climate of power in Europe, they have about as much chance of pulling a stunt to get out of the Greek debt as Diana Ross stands of being voted best new European male singer this year.
The unforgiving Mr Provopoulos also briefed an Independent Greeks delegation about the legal case concerning credit default swaps (CDS) on Greek debt – in which Kammenos has several times alleged the involvement of the brother of former Greek premier George Papandreou in both arranging it, and the numbers involved, to the advantage of his Swiss bank account deposits.
The BoG has referred the case to the public prosecutor, and it is “likely be investigated” according to both Provopoulos and Kammenos. Well fine – but don’t hold your breath.
Meanwhile, you read it here first: Development Minister Yiannis Stournaras said yesterday that Greece will remain in the euro, and the eurozone will acknowledge the depth of the country’s economic recession. It will be happy to discuss possible adjustments to the economic reform and austerity programme if it can be reassured of Greek commitment to continuing that programme, he added.
Yes, there will of course be a compromise to keep Greece inside the tent. But it isn’t going to make a jot of difference to the fate of the euro: once Spain implodes and drags Italy down with it, the first French bank collapses will start…if the American ones haven’t already got under way.