January 18, 2013

Yes it's all fine in the EU

A senior IMF official says Greece will need extra funding as soon as next year. Paul Thomsen says there is a gap of up to € 9.5 billion, tweets Gavin Hewitt. And Greek MPS have voted to launch a criminal investigation into ex-Finance Minister George Papaconstantinou. But MPs voted against extending the probe to another ex-finance minister, Evangelos Venizelos, and former PMs Lucas Papademos and George Papandreou. Lucas is also a former Greek central bank governor who lied to the EU about the Greek government's finances.

Meanwhile, Spain's ruling Popular Party is struggling to defend itself after a court revealed that a former party treasurer amassed €22 million in a Swiss bank account. Deputy Prime Minister Soraya Saenz de Santamaria  denied she knew anything about the money or newspaper reports that ex-treasurer Luis Barcenas also gave party members large sums in under-the table payments.

Reportedly she deflected questions as to whether Prime Minister Mariano Rajoy or other members of the conservative government received money!

How delightful to have Greece and Spain as our political partners.

P.S. Megan Greene thinks the opposition Syriza might want to use the list to diminish the coalition's support and topple it. This might lead to Greece leaving the eurozone.

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