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Friday, May 18, 2012

Start Printing The Drachma!

Reuters reports that De La Rue, the British bank note printer, has drawn up contingency plans to print drachma banknotes should Greece exit the Euro.

Unsurprisingly, shares in De La Rue have risen by 11% over the last month on anticipation of this news.

Why use a UK priner, as opposed to a Greek printer?

Well, as Zero Hedge states, Greece ran out of ink when it tried to print tax returns!

In other news EU trade commissioner, Karel De Gucht, has said that the European Commission and the European Central Bank are working on an emergency scenario in case Greece has to leave the Eurozone.

As befitting an organisation that couldn't run a whorehouse, let alone manage a crisis, this statement was denied later in the day by (a subordinate of Gucht) who claimed that no plan is in the works.

Suffice to say, no one believes Olivier.

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