Quotulatiousness

June 19, 2013

Examining Vermouth’s claim to being the “oldest wine in the world”

Filed under: Greece, Health, History, Italy, Middle East, Wine — Tags: , — Nicholas @ 08:13

History Today linked to an article in their archives from 1975 from Pamela Vandyke Price discussing the ancient provenance of Vermouth:

When the great vermouth establishments refer to their product as ‘the oldest form of wine in the world’, they are not exaggerating. If we could travel in time, we might find many of the wines praised in antiquity to be harsh, sour and coarse to our palates, but the ‘aromatized wine’ that we know as vermouth would then have existed and, even if we drank it for medicinal or preventive reasons rather than for enjoyment, we could recognise it and relate it to the vermouths of today.

Vermouth can be, and often is, made wherever wine is made. The ancient Egyptians used both wine and beer, plus juniper, frankincense, celery, lotus leaves and honey, in the treatment of certain ailments; and it is by a method of infusion, maceration, distillation, or two or all three of these processes that, essentially, vermouth is made today. In Book IV of the Odyssey, Helen throws a drug given to her by an Egyptian lady into the bowl in which the wine is to be mixed and diluted before dinner; this ‘had the power of robbing grief and anger of their sting and banishing all painful memories’ — an efficacious aperitif, assuring good digestion. At the end of the third millennium B.C. what is perhaps the first written doctor’s prescription is recorded in cuneiform script on a tablet from the Sumerian city of Nippur — a physician notes that certain powders should be infused with a type of wine.

[. . .]

Other families in the drink business were quick to see the possibilities for vermouth, setting up in Turin, Marseilles and Sete (again in proximity to mountain herbs and a quantity of wine), and in Chambray. Many of them are still family concerns, even though they are great empires of the drink business. Martini & Rossi, who were founded about 1840, replaced a much older concern making vermouths and liqueurs at Pessione, near Turin (the head of that firm was the grandfather of Giovanni Angelli, founder of Fiat); the superb museum now established alongside the Pessione installations is a necessary detour for anyone interested in the history of wine from the earliest times.

The Cinzano family began in the drink business in the sixteenth century, and in 1757 the brothers Carlo Stefano and Giovanni Giacomo were invested as Master Distillers in Turin; today their business is gigantic, including, among other things, the Florio concern at Marsala, (itself including the former cantinas of Ingham and Woodhouse). Louis Noilly, in business at the beginning of the nineteenth century in Lyons, set up in the vermouth trade with his son-in-law, Claudius Prat and they enjoyed so much success that by 1843 they moved their headquarters to Marseilles. Madame Josephine Prat, who ran the business after the deaths of the two founders, was succeeded by her two children; and her granddaughter, Vicomtesse Vigier, who entered the firm before 1939, directed it until 1970 when she died, over a hundred years old.

It seems a little odd that, with so many modifications of wine-making and changes in the tastes of drinkers, aromatized wine should still be in demand. But, in fact, it is increasingly so. Whenever people order a straight vermouth they are ordering the oldest wine in the world.

June 6, 2013

IMF forced to admit that the Greek bailout “included notable failures”

Filed under: Economics, Europe, Greece — Tags: , , , , — Nicholas @ 08:58

In the Guardian, Larry Elliott, Phillip Inman and Helena Smith round up the IMF’s self-criticisms over the handling of the bailout package imposed on Greece:

In an assessment of the rescue conducted jointly with the European Central Bank (ECB) and the European commission, the IMF said it had been forced to override its normal rules for providing financial assistance in order to put money into Greece.

Fund officials had severe doubts about whether Greece’s debt would be sustainable even after the first bailout was provided in May 2010 and only agreed to the plan because of fears of contagion.

While it succeeded in keeping Greece in the eurozone, the report admitted the bailout included notable failures.

“Market confidence was not restored, the banking system lost 30% of its deposits and the economy encountered a much deeper than expected recession with exceptionally high unemployment.”

In Athens, officials reacted with barely disguised glee to the report, saying it confirmed that the price exacted for the €110bn (£93bn) emergency package was too high for a country beset by massive debts, tax evasion and a large black economy.”

Under the weight of such measures — applied across the board and hitting the poorest hardest — the economy, they said, was always bound to dive into an economic death spiral.

May 27, 2013

Recreating ancient hairstyles – the “Hairdo archaeologist”

Filed under: Europe, Greece, History — Tags: , , , — Nicholas @ 09:36

BBC News has an interesting short video on the intersection of hairstyles and archaeology:

Janet Stephens earns a living trimming, straightening and dyeing the hair of customers seeking the latest look.

But the stylist from the US city of Baltimore is more interested in the hairdos of the past.

Stephens is a hairstyle archaeologist who specialises in recreating how women in ancient Rome and Greece wore their hair.

She spoke to the BBC about a museum visit that marked the start of a long journey of discovery on which she solved a historical mystery and had her work published in an academic journal.

March 31, 2013

The deep strangeness of the Cyprus bank haircuts

Filed under: Economics, Europe, Greece, Russia — Tags: , — Nicholas @ 11:36

At Forbes, Tim Worstall has some thoughts on the oddities now apparent in how the Cyprus banking crisis has played out so far:

Now that we’re seeing the real numbers coming out about who loses what in the Cyprus haircut/bank consolidations there’s something very strange about the numbers. Whiffy even, and that’s not with a good odour to it either. For, as far as I can tell at least, the haircuts are far larger than they need to be in order to make good the damage that we were told about. I’m therefore coming around to the idea that this wasn’t what we’ve been told it was, a story of Russian offshore deposits and tax avoidance. Rather, it’s two banks which invested regular domestic deposits into just terrible opportunities and then lost it all.

I don’t think I can make the case absolutely but I think it’s a case worth at least investigating.

[. . .]

But back to the point I’m trying to work through here. We’ve been told that the immediate cause was all about all that foreign money which flooded the country’s banking system. Yet when we look at the amount that is being raised by the haircuts it doesn’t look as if the two bankrupt banks had all that much of those foreign deposits. It looks very much like the banks which had the deposits didn’t invest badly and thus didn’t go bankrupt. So the problem isn’t therefore one of all that foreign money.

Rather, it’s a problem of where those two banks invested their deposits. And it looks as if this was largely in Greek Government and Cypriot Government bonds. Which is why they are bust.

December 31, 2012

The Spartathlon, a long distance run for true masochists

Filed under: Europe, Greece, History, Sports — Tags: — Nicholas @ 11:16

In The Economist, a look at a running event in Greece that attracts only the most obsessive of long distance runners:

This year’s Spartathlon, which took place in late September, was the 30th. Its heritage goes back much further. The most famous ultra-marathon in history was that run by Pheidippides, an Athenian who made the journey to Sparta in 490BC. His mission was to ask the Spartans for their help in fighting the invading Persians; Herodotus, a historian, records that he reached Sparta on the day after he left Athens. (The Spartans were celebrating a religious festival, so could not offer help until after the Athenians had dispatched the Persians at the battle of Marathon.)

Herodotus did not appear particularly taken by Pheidippides’s feat of endurance. Since his “Histories” also includes tales of ants bigger than foxes, it probably seemed rather unimpressive. But in 1982 his terse description sparked the interest of a British air-force officer and long-distance runner called John Foden, who wondered if it really was possible to run from Athens to Sparta and arrive the next day. With four other officers, Mr Foden decided to see for himself; after 36 hours’ slog they arrived in Sparti, as the town is now called.

Racing through history

That achievement inspired the organisation of the first Spartathlon a year later; the race now ranks as one of the world’s classic ultra-marathons. The Spartathlon’s allure has two sources. The first is the difficulty of finishing it. Any race that is longer than a marathon can call itself an ultra-marathon, but no self-respecting ultrarunner gets excited about finishing, say, a 48km course. The most talked-about events in the calendar are the ones that look most incomprehensible to the average person.

Take the Barkley. This 161km trail race in Tennessee forces runners to makes climbs and descents of 18,000 metres each inside 60 hours. The Barkley has been going since 1986, and in that period only 13 people have managed to finish the course within the cut-off time. Badwater is another race that derives kudos from insanity. The 217km course in California runs from Death Valley to Mount Whitney in temperatures of 50°C and above. (“Nudity is specifically not allowed,” say the rules.)

The Spartathlon cannot claim such extremes. It is not the hilliest race, nor the hottest. But it combines lots of different tests. There is the heat of the Greek day, then the plunge in temperatures when darkness falls. There are climbs, too: the route includes a series of ascents, among them a 1,200-metre mountain pass negotiated in the dead of night. Above all, there is the relentless pressure of the clock.

November 10, 2012

What Ataturk accomplished to create modern Turkey

Filed under: Europe, Greece, History, Middle East, WW1 — Tags: , , , — Nicholas @ 11:35

History Today posted that today is the anniversary of the death of Mustafa Kemal Ataturk, the man who carved modern Turkey out of the ruins of the Ottoman empire:

Mustapha Kemal Pasha was given the honorific title ‘father of the Turks’ at the height of a revolution which he was pushing forward intuitively and idiosyncratically, there being no precedent for such a fundamental sea change in a Muslim state.

Inevitably, it took someone standing outside the Islamic tradition of Ottoman Turkey to create a new state out of Anatolia — rising from the wreck of the empire. But as The Times was to say in its obituary, this was a man of extraordinary qualities; a Cromwell of the Middle East and also a maverick with an almost feminine subtlety in handling crises on the path to supreme power. He had an iron will and displayed single-mindedness when it came to ensuring the security of the state, even to hanging former confederates who plotted against his revolution.

Ataturk was born of an Albanian mother in Salonika and, without connections followed a military career in which, after being involved with the Young Turks reformist movement, he made his name in 1915 by rushing reinforcements to the Gallipoli beach-head and holding the ANZAC assault.

[. . .]

The Kemalists formed a provisional government in the small town of Ankara, in the middle of the desolate Anatolian plateau. On the Aegean and Mediterranean coasts the Greeks and Italians laid claim to what they regarded as their Asia Minor birthright, hoping to recreate some sort of classical empire. Kemal disabused the Greeks, who soon, of all the Allies hoping for a piece of Anatolia, were alone in arms against the nationalist forces. Halted in a blistering hot wilderness just short of Ankara, the Greeks, who had out-marched their supply lines, were outflanked and thrown back by Kemal’s outnumbered and ragged levies at the Sakaria river. A retreat became a headlong flight and the Greek forces joined their fellow nationals and the Armenians and foreigners who had formed the mercantile community of Smyrna, in a panic-stricken evacuation of the sacked and blazing port. Kemal is supposed to have indulged in a drinking orgy as Smyrna went up in flames — a Tartar conqueror’s celebration of total victory.

The Greeks quit the struggle and their sponsor, the British Prime Minister, Lloyd George, who had threatened armed British intervention backed by the fleet to keep Constantinople an open port under British protection, followed suit. The French and Russians signed separate treaties, giving the Kemalists recognition and aid.

September 14, 2012

Why did people travel all over the ancient Greek world to consult the Oracle at Delphi?

Filed under: Books, Europe, Greece, History — Tags: , — Nicholas @ 00:01

Megan McArdle on self-help, self-help books, and a good guess about why the Oracle at Delphi was so influential:

I must have read dozens — hundreds — of melancholy laments about the process of aging when I was in my twenties. I enjoyed the writing of many, and even managed to eke a wistful moment out of a few of them. But then one day, in my mid-thirties, I found myself reading another — and resonating to its message of lost youth like a finely tuned wind-chime. Suddenly I shared the wistful and slightly angry sense of a profound loss of possibility; I too had realized that there was no longer time for me to try another career, take up ballet, or enlist in the military. For the rest of my life, I was going to be basically what I am now. I also shared the sense of comfort that that realization brings; I wasted far too much of my twenties trying to construct unlikely selves from the basic starting material I was given.

Some messages can only be heard when you are ready. And some can only be taken from a stranger, as witness the dismal record of friends who try to “help” each other with their marriages. “Practice makes perfect” may not be any more true because someone did a study demonstrating it — but the edict may be easier to swallow coming from Malcolm Gladwell than from your mother.

[. . .]

Hale was part of the team that investigated the Oracle at Delphi, and found that the oracle seems to have sat directly above a crack in the earth which emitted psychoactive gases, putting her in an altered state from which she delivered her pronouncements. He gave us a stunning lecture on the topic of the Oracle (you can get a taste of what it was like here). And one of the topics he explored was what role the oracle played in Greek society. Why did people come to this remote place from all over the Mediterranean, and even beyond, in order to ask her a question? Not just to ask — to act on it. People seemed to have believed that the Oracle was really pointing the way for them.

One possibility, of course, is that the psychoactive gasses actually allowed the Oracle to see the future, and thus provide a very useful service. But I think we can assume arguendo that this is probably not the case. So why were people so interested in what she had to say?

Perhaps they were just all stupid — this is a popular theory about the past. But Hale offered another possibility. He suggested that even cryptic, elusive statements such as the oracle liked to make can be very valuable, because they snap us out of our current mode of thinking. When you are stuck in a rut, rehearsing the same arguments (or behaviors) over and over again, just having someone offer you new food for thought may open up possibilities that you previously hadn’t considered.

June 22, 2012

Greek government getting serious about debt issues: selling off government land

Filed under: Economics, Europe, Government, Greece, Railways — Tags: , , — Nicholas @ 10:18

It’s surprising it’s taken this long for the Greek government to consider selling off excess government-owned land as a way to address some of their debt issues:

There’s little that shouts “seriously rich” as much as a little island in the sun to call your own. For Sir Richard Branson it is Neckar in the Caribbean, the billionaire Barclay brothers prefer Brecqhou in the Channel Islands, while Aristotle Onassis married Jackie Kennedy on Skorpios, his Greek hideway.

Now Greece is making it easier for the rich and famous to fulfill their dreams by preparing to sell, or offering long-term leases on, some of its 6,000 sunkissed islands in a desperate attempt to repay its mountainous debts.

The Guardian has learned that an area in Mykonos, one of Greece’s top tourist destinations, is one of the sites for sale. The area is one-third owned by the government, which is looking for a buyer willing to inject capital and develop a luxury tourism complex, according to a source close to the negotiations.

However, if you’re in the market for a lovely little Greek island, you should also consider that land costs are going to be only a small part of your investment:

Only 227 Greek islands are populated and the decision to press ahead with potential sales has also been driven by the inability of the state to develop basic infrastructure, or police most of its islands. The hope is that the sale or long-term lease of some islands will attract investment that will generate jobs and taxable income.

Also on the block for sale are other government monopolies:

In its battle to raise funds, the country is also planning to sell its rail and water companies. Chinese investors are understood to be interested in the Greek train system, as they already control some of the ports. In a deal announced earlier this month, the Greek government also agreed to export olive oil to China.

Update: Ah, I didn’t notice that the article had originally been published in 2010, hence my expressed surprise that it had taken so long for these measures to be considered.

June 18, 2012

Rerun of the Greek election

Filed under: Economics, Europe, Greece, Politics — Tags: , , , — Nicholas @ 09:16

The Economist summarizes the results of yesterday’s election in Greece:

WHEN deciding whether to grant citizenship to an outsider, the Ancient Greeks would put the matter to a vote, tossing coloured pebbles into a clay jar. On June 17th almost 29.7% of voting Greeks picked the colours of New Democracy, a centre-right party that broadly supports the country’s EU bail-out agreement. It was seen as a vote to remain citizens in good standing of the single currency. New Democracy narrowly beat Syriza, the “coalition of the radical left”, which was threatening to rip up the bail-out agreement. That would have resulted in ejection from the euro area or at least ostracism (another Ancient Greek practice) from its fellow members.

On the face of it, this do-over election has generated the kind of result euro-officials were hoping to see in the first election on May 6th. The leader of New Democracy, Antonis Samaras, will now seek to form a coalition with other parties that broadly support the bail-out. The Greek people can look forward to the sweat of fiscal austerity, not the tears of financial chaos. They can expect chronic misery rather than acute disaster.

[. . .]

What about the economy? As our piece last week reported, it has spent the last six weeks in suspended animation. Unfortunately, economies do not keep well in the freezer. The hesitation has wreaked great and irreparable harm. The banks have lost more deposits. The government’s arrears have grown. Erik Nielsen, chief economist of UniCredit, reports that pharmacists have suspended credit to the government, hampering the supply of medicines. The pebbles cast in May have spread damaging ripples through world markets, which have not reversed themselves. They “introduced yet another round of uncertainty” that the second bail-out programme “was not built to deal with.”

June 13, 2012

“… there simply aren’t enough lifeboats!”

Filed under: Economics, Europe, Greece, Italy — Tags: , , , , — Nicholas @ 13:18

Nigel Farage speaking in the European Parliament:

Another one bites the dust. Country number four, Spain, gets bailed out and we all of course know that it won’t be the last. Though I wondered over the weekend whether perhaps I was missing something, because when the Spanish prime minister Mr Rajoy got up, he said that this bailout shows what a success the eurozone has been.

And I thought, well, having listened to him over the previous couple of weeks telling us that there would not be a bailout, I got the feeling after all his twists and turns he’s just about the most incompetent leader in the whole of Europe, and that’s saying something, because there is pretty stiff competition.

Indeed, every single prediction of yours, Mr Barroso, has been wrong, and dear old Herman Van Rompuy, well he’s done a runner hasn’t he. Because the last time he was here, he told us we had turned the corner, that the euro crisis was over and he hasn’t bothered to come back and see us.

I remember being here ten years ago, hearing the launch of the Lisbon Agenda. We were told that with the euro, by 2010 we would have full employment and indeed that Europe would be the competitive and dynamic powerhouse of the world. By any objective criteria the Euro has failed, and in fact there is a looming, impending disaster.

You know, this deal makes things worse not better. A hundred billion [euro] is put up for the Spanish banking system, and 20 per cent of that money has to come from Italy. And under the deal the Italians have to lend to the Spanish banks at 3 per cent but to get that money they have to borrow on the markets at 7 per cent. It’s genius isn’t it. It really is brilliant.

So what we are doing with this package is we are actually driving countries like Italy towards needing to be bailed out themselves.

In addition to that, we put a further 10 per cent on Spanish national debt and I tell you, any banking analyst will tell you, 100 billion does not solve the Spanish banking problem, it would need to be more like 400 billion.

And with Greece teetering on the edge of Euro withdrawal, the real elephant in the room is that once Greece leaves, the ECB, the European Central Bank is bust. It’s gone.

It has 444 billion euros worth of exposure to the bailed-out countries and to rectify that you’ll need to have a cash call from Ireland, Spain, Portugal, Greece and Italy. You couldn’t make it up could you! It is total and utter failure. This ship, the euro Titanic has now hit the iceberg and sadly there simply aren’t enough life boats.

June 6, 2012

Cassy’s guide to naming spaceships

Filed under: Greece, History, Humour, Media — Tags: , , , — Nicholas @ 08:13

You have to put a bit more thought into how you name your spaceships, people of the future!

Dear People of the Future,

Congratulations! If you’re reading this, you’ve just received a state-of-the-art spacecraft, and you’re probably about to take it on an extremely dangerous mission. Your journey may even concern the safety and continued survival of the human race.

But don’t worry! I’m betting your new ride is pretty sick. It’s probably got a warp drive and maybe a solar sail and lots of other technology I couldn’t even begin to understand.

At this point, you’re probably wondering: What should I name my spacecraft?

It’s good advice. Really. But I was surprised to find that there had been a USS Custer, a USS General Burnside, and even the USS Benedict Arnold.

H/T to John Turner for the link.

May 24, 2012

A Greek exit is an existential threat to the Euro

Filed under: Economics, Europe, Greece — Tags: , , — Nicholas @ 09:55

John Kay explains why it’s not just a simple cut-and-run for Greece or the rest of the Euro:

When countries joined the single currency, a relatively simple piece of domestic legislation converted contracts in drachmas, pesetas, markkas and Deutschmarks into contracts in euros at a prescribed exchange rate. But you cannot simply reverse that process when countries leave the single currency. You have to prescribe which contracts are now to be fulfilled in drachmas and which remain in euros or converted into Deutschmarks. That determination is politically fraught, technically complex and subject to long legal challenges.

About two years ago some large businesses and wealthy individuals began seriously to ask, “if the euros were to unwind, in which currency would my asset or contract be denominated?” The issue is not whether the euro coins in your pocket carry an Athenian owl or German imperial eagle. The issue is the status of bank deposits and loans, residential mortgages and commercial contracts, as well as wages and prices. The drain of funds from Greek banks is an indication that ordinary people are now thinking in these terms.

Europe’s hapless politicians, having asserted that exit from the single currency was impossible, must now claim that exit would be relatively easy. Only then can they plausibly threaten the Greek electorate with expulsion if they vote the wrong way. But exit was never impossible, never easy and even when it was publicly unthinkable central banks would have been negligent not to have put in place contingency plans.

That is why even though Greece is a small part of the eurozone, a Greek exit is an existential threat to it. Once a path to exit has been defined, business and individuals will have a template for understanding the consequences of further unwinding.

May 13, 2012

Greek railway dis-economy of scale

Filed under: Economics, Europe, Greece, Railways — Nicholas @ 11:22

It would actually be cheaper to send all Greek train passengers by private taxi than using the public rail network:

The claim that it would be cheaper for Greece to send every rail passenger to their destination by taxi was most recently made in the book Boomerang by Michael Lewis, the Moneyball author.

But it was first made by Stefanos Manos, the former Greek finance minister, in 1992. Manos used the railway system to illustrate what he saw as gross public sector waste.

“I was in favour of the Maastricht Treaty and was supposed to defend it in Parliament,” says Manos, now heading his own party, Drasi.

“I said we should drastically reduce the size of the public sector and its expenditure. And I gave as an example the railway where there were exorbitant wage bills compared to the revenue of the country.”

He says it was an off-the-cuff remark but about right.

“I knew the number of passengers and I made a brief estimate of what it would cost to send them from Athens to the north of Greece and I decided it was quite obvious it would be cheaper to send them there by taxi rather than train.”

It’s not quite true now: two passengers would have to share each taxi. If you got three passengers into each taxi, the government would be saving money.

May 9, 2012

Misreading the European electoral tea leaves

Filed under: Economics, Europe, France, Government, Greece, Italy, Media — Tags: , , — Nicholas @ 10:19

Brendan O’Neill points out that there’s something lacking in the analyses of all the recent electoral upheavals in Europe:

Great claims are being made in the wake of the local elections in Britain, the presidential elections in France, and the legislative elections in Greece. Britain’s Labour Party may have secured the votes of just 12.5 per cent of the eligible electorate, but it came top in the local elections, and so we’re told that ‘Labour is back’. The victories of Hollande in France (where he won 51.63 per cent of the vote to Nicolas Sarkozy’s 48.37 per cent), and of SYRIZA in Greece (the anti-austerity, radical left coalition which won 16.78 per cent of the vote), are being talked up as a ‘new dawn’ for European social democracy. According to a Guardian editorial, we have witnessed a ‘stunning victory… for the left in Europe’.

These observers urgently need to take a reality check. Because in truth, the most striking thing about the recent elections in Europe has been the utter absence of any matters of doctrine, of principle, of ideological outlook. In England, France, Greece, Italy, no doctrinal matters whatsoever have been raised, far less contested. These elections are best seen, not as a new dawn for social democracy, but as an unfocused emotional reaction against things — against Sarkozy, austerity, Brussels. Actually, it’s worse than that. Where once the left was concerned with creating a new reality, one based on systems and values quite distinct from those of traditionalists, today’s emerging left is obsessed with avoiding reality, with hiding away from the harshness of economic life in 2012 and simply saying: ‘Be gone!’ The problem with the newly successful left movements is not just that they’re attracting shallow protest votes, but that they’re extraordinarily infantile, blinkered outfits.

The only ‘doctrine’ uniting the various movements against austerity in modern Europe (both the left-wing and right-wing ones) is the doctrine of responsibility aversion, of shirking seriousness in favour of emotionalism. What the cheerleaders of these movements fail to realise is that being anti-austerity without positing an alternative route out of recession, without any serious proposals for stabilising economic life in Europe, is mere gesture politics. In fact it’s an act of irresponsibility, of wilfulness, where the key aim is to insulate oneself and one’s supporters from the harsh realities of our recessionary times rather than face up to those realities and potentially transform them. The new anti-austerity posturing, to quote an old communist, is an infantile disorder.

March 5, 2012

Tim Worstall: “Neoliberal” has a meaning

Filed under: Economics, Europe, Greece — Tags: , , — Nicholas @ 09:55

He’s ticked off at an article at the Guardian, blaming “neoliberals” for the Greek crisis:

In what paranoid fantasy is what is happening in Greece neoliberal?

The actual neoliberal position (recently affirmed at our meeting in the underground secret headquarters under the volcano that sank Atlantis) is that the euro itself was and is a bad idea as it’s not an optimal currency area. And if there is to be a euro then Greece should not be a part of it. Since it is, and it’s bust, then it should default and devalue.

In short, the neoliberal solution is the Icelandic one, not the Irish, Greek or Portuguese.

So how come we neoliberals (as you know, the modern incarnation of the Green Lizards, Rosicrucians and Illuminati all rolled into one) are getting blamed for the entire fuck up that is happening precisely because no one will follow the prescriptions of neoliberal economics?

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