The renegotiation we're asked to follow – then vote on – currently consists of no stated objectives trawled through dozens of bilateral meetings around the continent, all yielding unsubstantiated briefings on or off the record that could be (a) true or (b) the precise reverse of truth, as the great game called diplomacy lugubriously unwinds.
There is still enough gloom, however, to trigger concern over the potential for rising interest rates and continued fiscal weakness as America's baby-boomers start to retire.The good news is that the deficit is forecast to fall as the federal stimulus unwinds and growth returns.
But even more than Thomas Bernhard or W.G. Sebald, he winds and unwinds and rewinds, creating what one translator has described as "a slow lava-flow of narrative, a vast black river of type", which along the way acquires a transcendent quality of its own.
Max Rodenbeck does the explaining for them as he unwinds Cairo's serpentine tale with witty, clear-eyed affection.
But at some stage, this process cannot be pushed any further.The risk is what happens when the process unwinds.
The $50 billion is to be fronted by financial institutions as a reserve so that if any these firms were declared insolvent and taken over, they could be kept functioning temporarily while the government unwinds their obligations and liquidates them.
Around 18,500 workers will lose their jobs, though some will be kept on over the next few months as Hostess unwinds and seeks buyers for its brands.
A large increase in rates could also push up the yen as the carry trade unwinds (but, again, exporters could probably cope, since the currency is so competitive).The theoretical case for raising interest income to lift Japanese consumer spending is persuasive, despite these risks.
Night by night he unwinds his version of the tale Camus told, seeking justice for Musa, condemning the "insulting brevity" of a scene in which the victim did not even merit a name.To Musa's brother, the murderer and the famous writer are one and the same; in his telling, reality and fiction slip and collide.
But even more than, say, Thomas Bernhard or W.G. Sebald, he winds and unwinds and rewinds, creating what one translator described as "a slow lava-flow of narrative, a vast black river of type", which along the way acquires a transcendent quality of its own.
Cuetzalán, in the north, holds a fair each October that is famous for its display of voladores ("flyers"), performers who tie their ankles to a rope wound around a tall pole, leap off, and fly through the air as the rope unwinds.
