Something is not confirmed till government officially denies it

Continuing in the tradition of taking the other side of government’s hysterical hyperbole, today we have:

The single currency won’t fail, and the region’s nations are determined to defend it, Mr Schaeuble told German newspaper the Bild am Sonntag in an interview published on Sunday.

Those who bet their money against the euro will have no success,” he added. “The euro won’t fail.

Although by many metrics the Euro has already failed, I’ll go along and as I’ve done in the past, I will take the other side of this bet. As I said. This is a bet I am taking after the fact so it’s easy money. But that not withstanding, the more strident the declarations proffered by government minions and the more they run around arms aflailing the closer we are to total rout.

Separately, John Major on Sunday gave the single currency his vote of confidence.

And that’s supposed to be an endorsement? I guess that if Obama can wheel out and abdicated to a former president to boost his failed policies, then the Europeans can wheel out some old prime minister too for the same reasons. I am just not clear why Europe should ask for support from a UK former prime minister.

There is no reason for the IMF to enter Portugal, because Portugal does not need that,” he [Jose Socrates prime minister of Portugal] said, according to the daily Portuguese newspaper.

This guy has evidently learned nothing from one of my favorite Pinatas Joaquin Almunia whom incidentally has made a real sudden disappearing act.


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