Thursday, February 16, 2012

Austerity

I'm sure complete and total societal breakdown will be good for the bond market.

It turns out that practically every single traffic light in central Athens was destroyed in the orgy of violence that erupted during parliament's dramatic vote on the loan deal.

Some 200 traffic wardens have been rushed down town to bring order to the roads . But four days later traffic chaos still reigns supreme. Apparently, the cash-strapped transport ministry doesn't have the funds to replace the lights.