John Ward – ECB Policy On Greece: Yes, You Do Have To Be Mad To Work Here – 7 August 2012

It doesn’t get much sillier than this.

Earlier on Eurenders, Mario the money-changer told Stavros at the Bank of Greece that he could have more and easier access to the wonga at Mario’s Loans. But Stavros already owes Mario €3.2Billion on a previous Bond.

So Stavros asks the eurozone for a bridging loan from the ECB to pay back the Bond issued to the ECB. Eurozone says no. So Stavros asks the ECB for a further 30 days in which to cough up. Eurozone says no.

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John Ward – Euroblown : “To Hell With The Rules” Say Eurozone Members. Maybe Britain Should Be Saying The Same. Far Too Few Brits Are Aware Of Our EU Obligations – 21 May 2012

There is an inverse correlation between imminent poverty and the commitment to the Rule of Law. If ever you doubted that fact, then kop this from Poland’s finance minister Jacek Rostowski: he thinks the ECB should announce its intention to buy unlimited amounts of sovereign debt in the event of a Greek exit from EMU. As to whether this is against EU or ECB statutes, Rostowski describes the fundamental principle underpinning the role of central banking as “a moot point”.

John Ward – Bank Of Greece “Printing Its Own EURO’s” Says Belgian Economist – 15 March 2012

Johan Van Overtveldt

Belgian website’s banker mole reveals stunning truth

Yesterday, the Belgian website Trends led with an investigative article using a mole inside the Bank of Greece. The allegation – put forward by prominent economics writer Johan Van Overtveldt – is that the Bank has run out of money from other sources, and is simply printing its own euros to keep the other Greek majors afloat.