Mar. 19th, 2013

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There's a wonderfully evocative phrase from the Watergate debacle, which is "left slowly twisting in the wind". It describes the fate of the last villain to betray his fellows, the final rat to remain aboard the sinking ship. I'm mindful of that this morning as I watch the Cypriot president desperately sticking to the script long after everyone else has abandoned it. While all the finance ministers of Europe are busy distancing themselves from their Friday night deal with Cyprus, and insisting that they want all deposits under €100K protected and have wanted that the entire time, he's apparently still fixated on the idea that if he can just somehow keep the amount of money stolen from the Russian mafia under 10%, they'll be cool with that and he won't have to spend the rest of his life checking for bombs before he starts his car. It's always amusing to watch bad things happening to politicians.

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Rain Gryphon

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