Monday, June 15, 2015

Monday Finance: Just Smile and Wave

Subtitle: 19.00 CET 20150614:  Last chance Greece bailout talks end with no deal, 'significant gaps' remain 

After substantial analysis I can now postulate how Greek officials have been able to dupe i.e. hoodwink all of the EU leaders, the IMF, financial markets, and to some degree the European public.

They are following a strategy called:

Smile and Wave.

Smile 1
Smile 2

The way this works as follows:

- On camera always appear upbeat
- Smile, and Wave
- Always indicate that positive progress has been made, and that a solution is within grasp
- State this even if directly contradicted by IMF representatives or EU leaders

Increasingly though, even a simpleton can understand that Greece cannot repay its debts and will not reform.  

When you have been consistently living beyond your means (and this applies to many Nation states other than Greece and to majority populations in many Western countries) it's just unthinkable that you might have to only spend what you have earned or saved.

EU talks break down (again)