By John Galt
July 21, 2011
Sadly this latest missive sounds like a victory lap for the banksters.
However, here is the U.K. Telegraph’s own Ambrose Evans-Pritchard and a brief extract from the article to give you a taste. Click on the headline below to read the remainder of the story.
The three rescued countries of Greece, Ireland and Portugal have in turn been offered a lifeline out of crippling debt-deflation.
The tetchy negotiations dragged on for hours, with an irascible Finland at one point demanding that Greece offer the Parthenon, the Acropolis and its islands as collateral for the second €159bn rescue package.
France and its allies abandoned their long struggle to prevent a Greek default, opening the way for the first sovereign insolvency in Western Europe since the Second World War. Objections from the European Central Bank were swept aside. Germany has obtained its fig leaf concession: burden-sharing for bankers.