Olli Rehn Hates Lithuania, And Wants To Make Them Suffer

   (Commentary posted by Roger Erickson)

Lithuania must show sustainable public finances to adopt euro: EC

"Lithuania still needs to show that its public sector deficit, one of the euro adoption criteria, did not exceed the threshold of 3 percent of GDP in 2013."

Lithuania's Finance Minister is Rimantas Sadzius.

Is Sadzius Lithuanian for "sadist?"

"Lithuania's fiscal discipline law requires the government to cut the deficit by 1 percentage point each year until it achieves a balanced budget, now expected in 2016."

You can't make this up. They're going to grow by reducing liquidity until a organically growing nation can "grow" by maintaining zero net change in liquidity? How, with a straight face, can they tell citizens that needed transactions cannot occur, because the country has run out of numerals to denominate the transactions with?

Neuter the fiat, Batman! That's what it means to "balance" their entirely nominal budget. They're saying that there can be no more Public Initiative than the previous year. Good luck with that. No wonder the main form of Public Initiative has become citizens expressing rebel initiative, and simply leaving the country!

Let me guess. All math classes will be required to use no more numerals every year, than they did in previous years? Anyone caught calculating beyond those limits will be ... what, thrown into a fiat purgatory?

"Its national currency, the litas, has been pegged to euro at a fixed rate since 2002."

Whatever. All the damage has already been done. They're just waiting for the official, cultural death certificate. Ollie Rehn is the cultural coroner? Cause of cultural death, "Death by fiscal starvation." Apparently, that's not technically illegal in NeoLiberall LaLa Land.

We're right back to Erble Logicians trying to run an Erble Economy. Good luck with that.