Thursday, February 16, 2012

Breakthrough for Democracy as EU talks of bridging loan & elections

Bloomberg TV, following the euro once again falling through the $1.30 mark, is reporting that consideration is being given, within the EU, to grant a bridging loan for Greece to make the €15 billion bond repayments due in mid-March, to see Greece through the elections planned for April in that suffering country.

This is considered as a major step forward by this blogger, and a welcome volte face from the direction negotiations seemed to be headed all day yesterday and particularly last evening.

If Greec can hold proper elections, with all candidates and parties uncommitted by prior undertakings, the EU itseld will prove the main beneficiary, by then being able to proceed with a legitimately elected government.

We must wait to see what develops, but for once with some faint hope that somewhere within the deep dark morass that the EU has become, a little common sense is flickering into life.

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