Friday, March 26, 2010

Luxembourg -Greece: Is there a pilot in the plane?

Unfortunately the great European construction has been flawed from the beginning, when politicians didn't muster the courage to define the real final goal of European integration. The good will of the Founding Fathers has been largely betrayed since, and the construction became a lamentable shack by compromise: appointed officials, a menu of policies to choose from and misguided decisions on Governance, Foreign Policy, Defense, Schengen, and the Euro. All are suffering from the absence of European-wide acceptance, implementation and enforcement. Of course among them the Euro that is not backed by a common economic policy and has many guardians, some clueless when a crisis shows up.

Here is what you get as an example of the cacophony. The sampling is limited to Luxembourg: it doesn't consider what was said by other officials from ECB, the Commission or any other supposed guardian of the grail:

BERLIN, March 25 (Reuters) - If Greece ends up calling on the International Monetary Fund for financial aid it would damage the European single currency, Luxembourg's Foreign Minister Jean Asselborn said on Thursday.

http://www.reuters.com/article/idUSLDE62O0AA20100325

THAT'S THE VICE PRIME MINISTER ON REUTERS. FOLLOWS THE PRIME MINISTER WITH THE OPPOSITE MESSAGE ON AGENCE FRANCE PRESS. SAME DAY. IS THERE A PILOT ONBOARD?

By Agence France-Presse, Updated: 3/25/2010

Eurozone's Juncker sees IMF in Greek rescue mix

The finance chief for the 16 nations that share the euro currency said on Thursday he envisaged IMF funding being at the heart of a rescue for debt-stricken Greece.

http://news.malaysia.msn.com/business/article.aspx?cp-documentid=3991323



2 comments:

  1. Aha! One day later:
    Juncker Says 'Would Have Preferred' Greek Aid Plan Without IMF
    http://www.businessweek.com/news/2010-03-26/juncker-says-would-have-preferred-greek-aid-plan-without-imf.html

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  2. One more day later:
    OK, OK, so the aid package is not needed! Good, because there is still no pilot:

    However, Luxembourg's leader said he believed Greece would "not need to use this package because it ha[d] adopted a real cut-back plan”.

    http://www.france24.com/en/20100327-juncker-eu-rescue-plan-greece-guarantee-solidarity-eur-zone-imf

    Wait until tomorrow!

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