And borrowing dulls the edge of husbandry."
- William Shakespeare, Hamlet, 1.3
European bankers meet at Hamlet's caslte to discus the Eurozone crisis.
You can't make this shit up folks.
That's why Hugh Hendry says when he looks to Europe's problems he draws his inspiration from fiction.
Hamlet is our doomed Prince, who stuck with indecision between revenge and forgiveness for the treacherous murder of his father (by his uncle) causes the death of his family and friends.
What could be more appropriate for the muddlers of Europe?
Here is my Eurozone translation of Hamlet's most famous soliloquy
"To be, or not to be, that is the question: (Euro existentialism)
Whether 'tis Nobler in the mind to suffer
The Slings and Arrows of outrageous Fortune, (accept austerity)
Or to take Arms against a Sea of troubles, (reject austerirty and riot)
And by opposing end them: to die, to sleep
No more; and by a sleep, to say we end (leave the euro)
The heart-ache, and the thousand Natural shocks
That Flesh is heir to? 'Tis a consummation
Devoutly to be wished. To die to sleep,
To sleep, perchance to Dream; Ay, there's the rub, (Maybe if we kick the can down the road things will get better?)
For in that sleep of death, what dreams may come, (May the ECB can save us?)
When we have shuffled off this mortal coil (deleverage by defaulting on soverign and bank debt)
Must give us pause. There's the respect (We have lost control of the process and don't know what to do)
That makes Calamity of so long life:
For who would bear the Whips and Scorns of time, (This isn't fair, we tried our best-we even bannned short selling)
The Oppressor's wrong, the proud man's Contumely, [F:poor]
The pangs of despised Love, the Law’s delay, [F:disprized]
The insolence of Office, and the Spurns
That patient merit of the unworthy takes,
When he himself might his Quietus make
With a bare Bodkin? Who would Fardels bear,
To grunt and sweat under a weary life,
But that the dread of something after death,
The undiscovered Country, from whose bourn (We are afraid of what will happen if we break up the Eurozone)
No Traveller returns, Puzzles the will,
And makes us rather bear those ills we have,
Than fly to others that we know not of.
Thus Conscience does make Cowards of us all, (We should split up but don't have the balls)
And thus the Native hue of Resolution
Is sicklied o'er, with the pale cast of Thought,
And enterprises of great pitch and moment, [F:pith]
With this regard their Currents turn awry, [F:away]
And lose the name of Action. Soft you now, (Let's kick the can down the road)
The fair Ophelia? Nymph, in thy Orisons
Be all my sins remembered." (German squabbling with the rest of Europe will once again visit great destruction on the world).