Earlier today in EU Seeks Collateral for More Greek Aid; Trichet Reiterates Restructuring "Not on the Agenda", Market Reiterates "Trichet is a Pompous Fool" I Called ECB President Jean-Claude Trichet and Luxembourg Prime Minister Jean-Claude Junker, a pair of arrogant, pompous fools.



I failed to mention that Jean-Claude Junker readily admits something we should all know anyway, that he is a blatant liar.



Please consider Market jitters bring difficult choice between truth and lies for politicians, spokespeople

On March 29, when speculation swirled that Portugal needed a bailout, Prime Minister Jose Socrates denied — again — that that would happen despite clearly unsustainable market pressures.



"I'm sick of saying we won't" be requesting help, he told journalists.



Just eight days later, in a chastened appearance on national television, Socrates did just that.



For Jean-Claude Juncker, the prime minister of Luxembourg, the threat of immediate market turbulence means the usual norms of transparency don't apply.



"When it becomes serious, you have to lie," Juncker, who as the chairman of the regular meetings of eurozone finance ministers is one of the currency union's key spokesmen, said in recent remarks.