EUROBLOWN: In Brussels, the mentally ill are in charge. In Greece, they are starving.

A few weeks back, the EU’s Olli Rehn meandered down Manjana Way, and told the media that but a few tweeks here and there would see Spain emerging victorious from its austere cleansing. It was the signal the markets had been waiting for: no sooner had he stepped onto the plane home than Spanish bond yields began to spike.

That market reaction has since been vindicated and strengthened by the usual series of obdurate ‘Neins’ from Berlin. So now the task has fallen to Onanista in Chief, Eurogroup President Jean-Claude Junker, to reshape the squidgy reality balloon into a harmless little puppy.

“Spain’s macro-economic and budgetary policy is going in the right direction, and if and when Spain asks us to help its banking sector, it will obviously be done,” said Jean-Claude.

Fitch’s downgrade of Spain’s sovereign debt to Triple B status the night before gave an entirely different impression, but Juncker ignored all that, acting instead as if the Spanish request for emergency banking action wasn’t already a done deal.

One enormous clue to the truth of that lies in the Spanish government’s appointment of yet another technocrat parachutist to the governorship of the central bank. Luis Maria Linde was appointed the the Bank of Spain board only two weeks ago. He previously handled the commercial department at Spain’s Embassy to the Soviet Union, and is thus guaranteed to have all the necessary features to scare the crap out of the markets.

Equally loony was the decision by David Cameron to promise himself as the UK’s protector against “a giant superstate in Europe”. Based on Scameron’s track record with the EU, I’d rather be protected against pillaging Vikings by Graham Norton, but further still down the EU foodchain, the mentally deranged are running very little. In Greece, they are mainly starving.

On the island of Leros, the  State Infirmary of Leroshas announced that it cannot meet its most basic remit, to keep the patients reasonably well fed. According to deputy governor of the institution, John Antiartis, the 350 mentally ill patients in residence there have become
malnourished in recent days, because the hospital has had to deal with critical food shortages .

An urgent letter sent two days ago (Wednesday) to the Greek Health Ministry and the president of the 2nd Health Region, Christina
Papanikolaou, informed the recipients that the hospital is no longer able to feed its mentally ill patients. “Pension funds owe us huge amounts, making the State Infirmary of Leros unable to pay its debts,” Antiartis explained, as he called on those responsible to address the issue immediately.

My corresondent on this issue adds, “The idea that Greece is being made a basket case as a special punishment seems to be gaining ground. Not too big to fail, but rather too small to make a fuss that matters. Anger is building here, as it is strongly suspected that whether a country gets ‘punished’ is about political size not debt size.”

I think he might be referring to Spain. You read the prediction here first.

65 thoughts on “EUROBLOWN: In Brussels, the mentally ill are in charge. In Greece, they are starving.

  1. Pingback: EUROBLOWN: In Brussels, the mentally ill are in charge. In Greece, they are starving. [The Slog] « Mktgeist blog

  2. I thought Blair to be the biggest scumbag ever but, Cameron is proving me wrong on every count. Mind you, he has a problem with protecting his position within the EU and the City of London. Can’t have his cake and eat it there.
    I was wondering the other day about the House of Lords, after all, they must be aware that after Cameron has us fully in the EU, they will be consigned to history, surely, perhaps that’s why Owen spoke out the other day.

  3. I’m wondering when it will be time for people in very high places in the EU/EZ to be forcibly removed from office and locked up somewhere safe until the Nuremberg courts can be reconstituted. “I was only taking orders” and “I was only doing my job” will not be acceptable defences when this political filth is held to account.
    They have taken a Europe that was getting along just fine with growing free trade and are turning it into a cesspit of poverty, sovereign bankruptcy and growing hate among its citizens and politicos. Nationalism is rising. This is not simple incompetence, it is surely mindless criminality on a grand scale.

  4. You might have to do something about the legal profession as well. Remember that ‘I was only following orders’ was a defence originated by UK barristers at the Nuremberg trials.

  5. @BT: “I’m wondering when it will be time for people in very high places in the EU/EZ to be forcibly removed from office and locked up somewhere safe until the Nuremberg courts can be reconstituted.”
    The time is now in reality but, as you have said before, all sanity and reason has gone out of the window.

  6. Every day another idiot adds an ever heavier valve on the financial pressure cooker, ignoring the fact that any minute now there is going to be one almighty explosion. If you stand well back, you have not gone far enough.

  7. In Mr Obama’s America there are people who used to have homes and jobs living in tent cities and there are documented cases of coked rats being fed to children when the food stamps run out. I’d be a bit worried about he might consider ‘hardship’.

  8. I think the hate needs to be directed where it belongs,Brussels,City of LOndon and Wall Street.Until these individuals spend time looking under their cars,nothing will change.

  9. Talking about starving Greeks I can’t help but think of outrageously obese fatbag EVenizelos –
    “But EV says he is ambitious /
    And EV is a palatable man..”
    I just wanted to add to yesterday’s discussion that I am about as far from having political correctness seizures as … well, as Juncker & Co are removed from reality.
    But then what is real, after all?

  10. There are already cooking dogs in Athens (the illegal immigrants so far, but it might spread to the general population of things get worse).

  11. Venalzelos…..GAP….et al. All politicians of the last 30 years.
    There where no prisons in ancient Greece. For crimes of that scale, only 2 choises: exile or death.

  12. As do the politicians in Britain, Spain, Italy, France, Germany, Belgium, etc… because they are IN POWER, and more important than regular people… they are the towering examples of human excellence and achievement that deserve to be better fed, as evidenced by the fact that we CHOSE them to be our “leaders”.

  13. The Greeks need to lose their fear, as long as they fear the consequences of leaving the Eurozone they are responsible for the prolonging of their plight. Leave now, help and support each other, you have fertile lands and bountiful seas. You will not starve and you don’t need fancy German cars. Be masters of your own destiny and tell the euro tyrants to bugger off.

  14. Pingback: In Brussels, the mentally ill are in charge. In Greece, they are starving. / Στις Βρυξέλλες οι πνευματικά άρρωστοι είναι επικεφαλείς, Στην Ελλάδα πεινάνε « eleutheriellada

  15. Beirut
    I reckon if Venizelos went on a hunger strike, it would take the bugger about three years to die.

  16. @John: no good for me (the squirrel). Strange as it may sound, i was born vegetarian. I am totally allergic to flesh food (dairy products and some fish – i can eat).
    In such a “wurst case scenario” if only meat is available, i am doomed.
    Thankfully Greece is full of vegetable and fruit.

  17. One lives such a busy life at the top…….
    Norway talking bollocks about gas or something…..achieved NOTHING
    Berlin lecturing Merkel pot calling kettle black…..achieved NOTHING
    Never mind what’s IMPORTANT at home in UK….achieved NOTHING
    Leveson Enquiry next week…..
    Oh well, off to the Lords eventually.

  18. nuremberg trials were a dog and pony show for the most part. many of the big industrialist were not charged and the few that were got a slap on the wrist.

  19. Yes all that, but you used to do my fagging at school, and you and george were always pissing your pants you little squirts….

  20. At least someone is prepared to tell it like it is:,_Buy_Gold_%26_Expect_QE.html

    I really do love this quote from the article:

    “Farage also added: “All I can tell you is when I look into the eyes of the leaders of Europe, and as a leader of a group in the European Parliament I do get eyeball to eyeball with them, when I look into the eyes of these people, frankly what I’m seeing now is madness, absolute, total and utter madness.”

  21. i think i must have posted a few seconds before you ..seems like we are we on the same wavelength

  22. Bemused. “The Greeks need to lose their fear, as long as they fear the consequences of leaving the Eurozone ….. Be masters of your own destiny and tell the euro tyrants to bugger off.”

    Dead right! Lets hope that the coming next elections in Greece will finally produce a party, or coalition, which will have the guts to do just that. If so their progress, very painful for a few short months, will only be onwards and upwards

  23. Finally, something that deserves to be called an appalling atrocity!

    While the fingers are pointing at Brussels and Berlin, let’s not forget about all those billions of Greek Euros propping up the London property market rather than being directed to the Greek tax office.

    How many mouths would that feed?

    Maybe the opinion of a simple pop songstress having lived in a similarly broken system is enough to shock the perpetrators of such outrageous behaviour into paying what they should into the Greek Exchequer?

    I shan’t hold my breath waiting………….

  24. Yes, I entirely agree with you.
    Regrettably, the “only doing what I was told” defence seems to hold water these days. It is the standard excuse of incompetent authority-e.g. police who sod off in the face of riots, or even police who shoot the innocent (no trial over the killing of a Brazilian electrician-in fact the cretin in charge got promoted).
    What a pippin of a country we live in!

  25. Well, one and a half! I wish UKIP had a good leader rather than just a good speaker.
    Having said which I’m still going to vote UKIP!

  26. Pingback: John Ward – Euroblown : In Brussels, The Mentally Ill Are In Charge. In Greece, They Are Starving. – 8 June 2012 | Lucas 2012 Infos

  27. Interesting times.The Spanish banks need additional capital of 40-100 million euros,and the IMF will pronounce,Monday.No rumours at all that the pretty girl from Mayfair has lined up her friends in the Gulf,a la Barclays.The market hates a vacuum.How long did it take for the Titanic to sink?

  28. Easy to say when you can see into the future, not so easy for those weighing up the consequences that their vote bestows upon the voter and their loved ones.

  29. @william: How long did it take for the Titanic to sink? It sank pretty quick (less than 3 hrs) but it took a bloody long time to find! I think our situation is more analogous to the Great Plague – which only lasted 2 yrs – even down to the carriers..

  30. @susieq.That would be ideal,8.00 am, Monday,an announcement that surprised the markets.The Spanish horse has laminitis,and so far there is not a vet in sight.

  31. I don’t understand half the ins and outs of markets and financials i just think this can is still going to be kicked down the road some way or other by the technocrats and politicians..

    the eurozone failing (even though it is )is not an option to the ptb.. they do not care what the reality on the ground is. untill the middle classes rise up en-mass (wake up)nothing will really change. I don’t want n farage as a leader of this country though he is the only politician speaking the truth re europe..

    we need a new crop of politicians who would put people such as proff steve keen or shaun richards (over on mindful money blog ) into power in the financial realm..or even john.. which portfolio do you fancy john? but really how long are we going to have to wait for the laws to be enforced and people that genuinely care for this country and understand the notion of the common good (and are capable) to be put into positions of power.. feels like a fantasy .. a distant dream ..or am i being too depressive?

  32. the spanish horses hoofs are inflamed 9had to look that up-laminitus..amazing what you learn via this site) and its quickly spreading to the italians.. shortly followed by the french and german.. all knackered.. none left standing

  33. @susieq.What are you on?Look,go short the FTSE first thing,Monday,dump Santander,and every Italian bank in sight.

  34. is it safe to use a broker considering what happened to mf global.

    and i have no experience of playing the markets .ie brokers..shorts..longs ..options,puts is a very unknown world to me and abit scary for that fact..

    I’m more interested in the dynamics of the whole crisis and its social consequences and hoping that at the end of it the world is a safer and more humane, equitable place to live -that really is aware of the value of the planet and its diversity that makes our lives possible just dreaming abit out loud on the net .. and i’ll fess up i’m a bit stoned.

  35. Dave… nice and simple… when has it ever been that easy? Greeks have taken their money out of the country… it’s the same you, or any other reasonable person would do if you saw a bumbling bunch of thieves, stealing your taxes for 30 years while not delivering a damn thing, then another bunch of bumbling thieves take over the country, run it even further into the ground, and then demand you pay your taxes so that it saves their banking systems… while destroying yours… what makes you think that when the taxes get paid in Greece it ever makes it anywhere but some idiots pocket? since 1974 I have seen every penny of taxes I have paid either go to waste, or be lost to theft. Who in their right mind would give their hard earned money away to Venizelos, Samaras… these guys CAUSED problem, why would any smart person with any money keep it in Greece where it will be looted by the EU and sacrificed to save Spain or fund some other EU madness, and after… whatever is left will inevitably be made worthless when we end up getting cut off and leaving the EU? Put yourself in they’re position and think rationally… London real estate is a nice stable bet in an unstable world… sounds like a smart place to have my money too… smarter than Greece anyway.

  36. “…what I’m seeing now is madness, absolute, total and utter madness.”

    It’s even worse, these nutters have control of the levers.

  37. Unfortunately like every case, the whole shebang will need to collapse before any recriminations are sought out

  38. @ John , too many smart people in Greece and too many smart ideas thats why we are where we are today .All these money has been made working together and supporting corrupt governments for years , very easy to say now is my hard earned money and i want to protect myself .You protect yourself by opposing corrupt governments , thats the citizens highest duty .The rest are all excuses .When Japan was hit last year by the earthquake all investments and money were repatriated back to Japan to suport their country . We let things go too far and now we have lots of excuses and now go and find the beginning of the thread.Doesn’t all this madness of corruption , tax invasion , unruliness ,blaming it on others have to stop ? We read our papers everyday and underneath the first news about the crisis and europe are scandals and scandals .Every day new ones .With politicians , with farmers , with public servants , with hospitals , with the army , endless , endless, endless .We still have corruption constitutionalized .Where are the reforms ?They only cut wages and pensions across and made the poor poorer. They still keep one million public servants in place and go and try to deal with them and have any job done without paying money .NOTHING has changed .We still vote for the same people ( PASOK came 3rd at the last election worse than the Filipinos that put Imelda Marcos in the 5th place ), they will be elected again and as far as i am concerned NO HOPE .Regardless of what stupid Brussels is doing , no hope .

  39. @susie q,given what mf global has cost me,as a counter party to my london broker,I could do with a decent joint…

  40. @ Yana… I agree with everything you said… but they would be the reason NOT to pay taxes (in Greece’s case).If this was a western country where you could pay your taxes and know that your investment back into to govt. and a country you love would lead to quality, and stability for yourself and your children in the future… no one would avoid taxes. They have proven in Denmark and many other countries that the correlation between tax payment and public services and works are tied together… the more people see and feel they’re taxes are being used constructively, the more likely they are to pay them. When you know your taxes will do nothing but empower, and re-legitimize an evil, corrupt, and completely broken state… why on earth would you keep paying into it? It would be self destructive. Simple answer… you don’t, you hide it for the big, bad rainy day we ALL know are bound to come. There are only two forms of peaceful protest that we are allowed… voting, and tax revolt… we already know our votes don’t count, the only way to starve the kind of monster the Greek Kleptocracy has become, is to completely disengage politically, financially, and… as we see on the news every night expatriation… young people are leaving, older people hoard their money for a future guaranteed to get much, much worse. This has nothing to do with blame, or a lack of responsibility… because I have yet to see any one on Wall St. or in the Greek govt. pay for their treason… this is about survival now… and it would be irresponsible for someone with real responsibilities… children to care for and old people to protect, to not put money aside for food, before the taxman takes the rest.

  41. John if they were words leading the rallying call of the Greek people outing their politicians few would find fault, but all I read is that it’s the fault of Brussels, Berlin, Germany, Merkel, France etc etc for all that ails Greece and its patently not true in its simplest form.

    For sure the medicine they want to dish out is unpalatable and maybe what they’re trying to cure is uncurable or at least misdiagnosed for its plain to most that Greece and the EU is an unsuitable marriage, not because of any shortcoming on either side but because of the difference between.

    It’s the difference that should be embraced not subjugated.

  42. I seem to remember reading somewhere recently that the Greek Exchequer is owed some €63 BILLION in uncollected taxes I therefore find their bleating about German imposed austerity a bit rich!

    Rather like those very very rich Greeks that think taxes are things one calls to take them to their yachts and Gulfstream’s.

    Did anyone else know that the Greek govt included projected income from prostitution in the figures they used in the preparation of the criminally fabricated financial projections they used when applying to join the Euro!

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