I must apologise for the long radio silence on this blog. I have been busy with other things but have not lost track of events in the Greek fiscal drama, I promise you.
Try this for a quick taster.
Our Government is out to get the evil specuLOLtors who have first helped us fudge our numbers and then used their inside knowledge to short our debt. To show them the error of their ways, we have banned them from our latest debt offering.
You guessed right, this is another EPIC FAIL for Yorgo.
To see why this is the case, consider how serious our threat is... to ban people from our future debt offerings. The seriousness of the threat is directly proportionate to the expected value of our debt offerings. This means that the worse our fiscal position gets, the more we implicitly punish the evil specuLOLtors. That will show them not to signal to other people that our fiscal situation is bad.
That's cutting off our hairy noses to spite our hairy faces.