Humorous Quote of the Day
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A tip of the hat goes to Huky Guru at Guru's Blog regarding the non-shocking announcement that "One of the rescued countries provided "misleading" information to the troika as the ECB"
"In some cases, the information was incomplete, particularly in a country, even misleading at the beginning of the program," says the company chaired by Mario Draghi in the European Parliament formulated to evaluate the work of the troika questionnaire.Guru Commented "Just one country provided misleading information? And it took four years to realize?"
That's pretty funny, but actually it is a sign the ECB thinks the bottom is in. That's when these kind of revelations come out.
Yet, as Guru implies, it likely was every country that received a bailout, that fabricated data.
Going back further still, I find it hard to believe that the ECB and the Brussels nanncrats did not know upfront that Greece was not ready for Eurozone membership, and that Greece lied on its application.
And finally, regardless of what these guys think, it's highly doubtful the crisis is over. The biggest eurozone trials are yet to come.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
