Posted by: Dirk | November 15, 2011

Plethorophobia of the Numismatic Archons

Xenophon Zolotas was an economist and a former prime minister of Greece who died in 2004 at the age of one hundred. His legacy includes two speeches in front of the International Bank for Reconstruction and Development (what later became the World Bank), on September 26, 1957 and on October 2, 1959. Here is the 1957 speech:

Kyrie, I eulogize the archons of the Panethnic Numismatic Thesaurus and the Ecumenical Trapeza for the orthodoxy of their axioms, methods and policies, although there is an episode of cacophony of the Trapeza with Hellas. With enthusiasm we dialogue and synagonize at the synods of our didymous organizations in which polymorphous economic ideas and dogmas are analyzed and synthesized. Our critical problems such as the numismatic plethora generate some agony and melancholy. This phenomenon is characteristic of our epoch. But, to my thesis, we have the dynamism to program therapeutic practices as a prophylaxis from chaos and catastrophe. In parallel, a Panethnic unhypocritical economic synergy and harmonization in a democratic climate is basic. I apologize for my eccentric monologue. I emphasize my euharistia to you, Kyrie to the eugenic and generous American Ethnos and to the organizers and protagonists of his Amphictyony and the gastronomic symposia.

Some of the parts I’d like to highlight, because it seems that the new Greek Prime Minister Lucas Papademos said something very similar very recently. Here is the extract from Zolotas:

But, to my thesis, we have the dynamism to program therapeutic practices as a prophylaxis from chaos and catastrophe. In parallel, a Panethnic unhypocritical economic synergy and harmonization in a democratic climate is basic.

… and this is what the WSJ reported yesterday:

In a speech to parliament ahead of a confidence vote later this week, Papademos stressed that Greece must continue with its reform program and efforts to fix its public finances.

Failure to do so, Papademos warned, would place Greece’s future in the euro zone at risk. He added that the only solution to Greece’s crisis is to remain within the currency bloc.

While the language today seems to be a bit clearer, the economic logic is just as fuzzy.

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