If like me you’d no idea that Greek PM George Papandreou was an American Roboclone, then the Marr interview with him this morning will have come as a shock. But after traipsing through a collection of right now’s and what we have here’s in an East Coast preppy accent, George wasn’t very convincing on the subjects at issue.
These were ‘Who will buy your bonds?’ (‘We don’t have to launch any more until mid March’) will your EU friends bail you out?(‘We don’t need a bailout’) how will you reduce the deficit? (‘The deficit will be cut by 4% this year’) do you have a credibility deficit? (‘This is a problem we inherited as a government’) and finally, will hedge funds target you? (‘Maybe they will, maybe they won’t….’).
Although he gave off an air of calm, his increasingly desperate and inadequate answers belied the body language. It was clear Papandreou thinks he is being hung out to dry,and that as the weakest of the herd, he will obviously be picked off.
But the denial will go on and the markets will continue to rise….for now.