Over the last couple of years we have been tracking the various bail-out schemes concocted by ingenious Eurocrats. It is truly fascinating to observe these people get entangled in one lie after another; always trying to resolve the old lie with a new one. The hard cold truth is of course that Europe is bankrupt!…

With a country in disarray and that has defaulted not only once but twice during the last 24 months, one might ask oneself how on earth T-bill funding is still possible for Greece. Yesterday Greece again had a successful 6 month T-bill auction, with a steady yield and 1.70 bid-cover ratio, similar to previous auctions….