This article gives a rather

[cromwell]

If I could have roped him in and got a penny for every prediction the BBC's Gavin Hastings got wrong about the EU, Eurozone and € I could dine at the finest restaurants at every meal.

The BBC seems to specialise in employing clever dicks who sound tremendously certain about every word they say, whether it later turns out to be complete rubbish or not.

I think my favourite is Evan Davies who in 2003 proclaimed with lordly certainty that "Greece's economy has stabilised now it has joined the Euro".!

[Suff]

We've heard the most utter and complete BS coming out of the press over the whole situation this time. I went past the press beleaguered building tonight on the way back to the apartment. Depending on the leanings of the press, they are reporting either total and abject capitulation from Greece, climb down from Germany, or Grexit.

They are saying that negotiations may go on all weekend. I doubt it. Greece has no temperament for that. Their position is fairly solid. There is no more ground to retreat. So it's Accept it or Grexit.

I shall monitor the drivel over the evening and see where it goes. Might be fun to head up to the bars in Schuman and see if there are any flunkies talking it over, but I don't know which one's they might inhabit. Might get a few reporters though. There were a few Brit registered trucks with their satellite dishes up sitting on the pavement next to Schuman. I might hear something amusing but it's persisting down right now and I'm wondering if it's worth the effort...

Later in the weekend we'll see how it goes. Merkel has been playing the "political ground" since Schauble stood on the crank with the golf shoes (as it were), by openly deriding Greece. Therefore giving a lot of sympathy for Greece. Merkel quickly rallied to quash any sounds of German unreasonableness on Thursday, quickly followed by politely rubbishing the Greek proposal today in Paris. Where she is probably stitching the iron spine stiffner into Hollande's back! A bit like Maggie with Bush in Gulf War 1.

[Suff]

Sorry, I don't believe that!

[Aggers]

I'm afraid I don't understand all this business, and don't particularly want to.

My view is simply:- the sooner get out of the blasted EU the better.

We shouldn't have gone into it in the first place. We were tricked into joining
by the people we trusted to look after our interests. All we agreed to was to
join the "Common Market"

Let's hope UKIP get in this time.

[Suff]

It's interesting how they go on about how it's "impossible" for anyone to leave the Euro and remain in the EU.

Perhaps they should give us our marching orders then? Or do they just lie to suit themselves???

Whatever happens, unless Labour gets in, we'll have a referendum on or before 2017.

[Workingman]

Hello Saturday!

The sun has risen in the east, as I confidently predicted. It is in a cloudless sky, tending to back up my prediction that it would not fall in. The Euro is up. Markets are up.

The Germans didn't give a millimetres.

The Greeks only got a four month extension when they were asking for six, but a 75% result from negotiations where 0% was on offer is a neat trick to pull.

I love the smell of fudge.

[Suff]

I love the smell of fudge.

Yep, the planet is still rotating on it's axis and Planet EU is still orbiting itself in ever decreasing circles. A feat which always amuses me....

The Greek officials have been forced into a crushing and humiliating climb down in order to get another 4 months to breathe. This was always going to be critical as they government took over with too small a window to work in. The press has trumpeted this as a "done deal".

The small tricky details.

Athens has till Monday to come up with a comprehensive statement of which details, in excruciating particulars, how they are going to shaft the country all over again for a 4 month loan.

This has to be put to the Greek parliament. There is absolutely NO guarantee that it will pass.

Even if it does pass and is put in place, all it does is keep Greece going until it repays the IMF with EU money on which they will pay interest. Which the EU has kindly said they will keep, forever....

Whilst this is certainly not over, it can only be the first part of a process which will start all over again in 3 months time. IF and only if it is accepted. It now comes down to the Greek parliament and the Greek people. "Accept it or Grexit". All over again but this time from the EU to the Greek people.

Honestly I don't know what that result is going to be. But whatever it is, it will be a full democratic mandate from the parliament to carry on down that path. They may even have to go to the people. I don't know.

Whilst the EU are sitting there sipping their cocktails and the press are chugging their ale, the Greeks are hard at work preparing the next phase of this drama.

As the saying goes. "It aint over till the Fat Lady sings." I don't hear no singing. Not by a few days anyway.