ΠΗΓΗ: mindful money
Today is yet another day where deadlines for debt and bailout deals for Greece have come and gone with no resolution. It is also a day with a grim historical portent as on this day some 179 years ago a Bavarian was crowned King Otto the first of Greece. He had been brought in to ensure payment of the matter mentioned in Hansard (The UK Parliament’s official record) below.
It was then found that a loan was necessary, and it was determined that the allied Powers should be the guarantees for its repayment.
There are all sorts of historical analogies here. For a start what is it with Germans and other countries Royal Families? And as I am typing this there is another type of Bavarian intervention as her Finance Minister has just announced that Greece won’t be able to avert default. Thank you to Joseph Cotterill for the historical information.
There is something very wrong with the new proposals for Greece
Last night the Greek Prime Minister issued a five point statement and claimed that a deal had been reached on these points with 3 opposition party leaders. This was to achieve this.