Thursday, February 28, 2013

New Slovenia PM Vows to Halt Dramatic Decline - May Not Know How.

commentary by Roger Erickson

Wow! Sounds like Italy may be breaking out all over the eurozone. Slovenia regrets adopting the euro?

Citizens are marching in the streets, while their bankers are holding out for more austerity for non-bankers. Here's what an orthodox banker says about the new PM: "Bratusek's problem is that the centre-left ... wants more pro-growth oriented policies, but at the same time the problems in the banking sector require pretty orthodox solutions."

When all you've got is orthodoxy, every problem looks like it requires austerity? More of the same? Tina - there is no alternative?  Europeans have considerable expertise in producing balogna, now orthodox bankers everywhere have adopted a semantically twisted version of the practice.


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