Wolfgang Schäuble, the stalwart German finance minister is heroically standing up to Greek profligacy and slippery trickery by telling the Greeks they need to take a five year holiday outside the EZ.
The Finnish contingent are, quite rightly, standing their ground and do not think there is any merit to the Greeks staying in the eurozone.
The truth is, the Greeks overstepped the mark countless times and are completely untrustworthy.
The Greeks are now asking for 80 Billion euros on top of the 350 Billion euros they already owe, and with no guarantee they will reform their ways.
So who is right? Who is wrong? In this case, there is no doubt that thievery, lying, blackmail and underhand techniques by the Greeks have made their chances worse in negotiations.
The world has seen for itself what happens when greed took over Greece and they squandered all of the 350 Billion euros, with a population of only 11 million people.
The markets are confused, with a Grexit, they should be going up, not down, because the danger to the EU’s stability is eradicated when Greece is thrown out. Uncertainty, is obviously the factor for market jitters, but once concrete plans are unveiled they will resume their upward trajectory.
British anti-EU denizen, Ukip MEP, Nigel Farage supports the Greeks but he is only doing so because he is anti-EU. In truth, he knows that the Greeks have committed a grave financial sin, not only by reneging on debt liabilities but by squandering vast sums with cronyism, tax avoidance, nepotism and massive corruption. No country’s economy can exist in a healthy state with the levels of discrepancy and fiscal irresponsibility that Greece has shown.
The Greek contingent has been left with a choice, through their OXI votes, and slippery manoeuvres orchestrated by ousted former finance minister Varoufakis and naive PM Tsipras, whether to accept the new austerity deal where 50 Billion euros of Greek assets will be held by the EU as collateral also enduring heavily controlled austerity until 2057, or take the high road with effective expulsion from the EZ?
The numerous final, final, final meetings, the numerous final demands, and the numerous deathly scenarios eked out over the last five months of ridiculously time-consuming negotiation must come to an unholy end at some point.
Events move quickly in Euroland, one minute things are up, the next it’s all down.
CONCLUSION: Time for a Grexit, because without one, it would be time for a Eurexit. The EU and eurozone would be bolstered by Draghi’s QE and would limit contagion. The markets must see the strength with an EU stronger, leaner, losing the parasite sucking the very life blood out of its side.
If Greece stays in, the EU will die an unholy sorry death, eaten from the inside out.
These are the stark choices. Take it or leave it.