“George Osborne, the Chancellor, and Tim Geithner, the US Treasury Secretary, are becoming increasingly exasperated at the lacklustre response of European leaders to the ongoing single currency crisis.”
Well, they can get lost. The ONLY way to prevent an eventual default of Italy, Spain, Portugal et al (forget Greece) is for Germany to guarantee two trillion or so euros to bail them out.
The German Constitutional Court has said this is ILLEGAL and that any further transfer of power to Brussels requires a referendum. Merkel and her finance minister have also called the idea that Germany should sign up to this isane “two trillion more for the black hole” idea “silly” and “stupid”. ARE YOU DEAF Obsorne, Geithner?
You cannot put right with some magic solution the idiocy of decades. Some countries are going to have to default. TOUGH. They brought it on themselves. This is not a reason to drag down Germany.
Geithner should really take a hike. His OWN country is racking up more debt STILL to the tune of FOUR BILLION DOLLARS PER DAY. Put your OWN house in order first, you total plonker. The time for you to have got “exasperated” is when your country started behaving like a spoilt, sulky, greedy demented child living beyond its means and transferring all its industry to Asia to enrich your CEOs beyond belief and simultaneously impoverish an entire nation.
Mr Osborne, how are you going to explain to the British public that through the IMF they should bail out feckless, idle, non tax-collecting countries in a currency that everyone KNOWS cannot survive in its present form? You’ll say “it’s in our own interests?” Really? And you think that Italy, Greece, Portugal et al will REALLY change their ways if they get a bailout? If Germans agree FOR EVER to subsidize their idle and fecklessness? Is THAT what you think?
How about a bit of LONG-TERM THINKING? Hardly ANY radical overhaul of the banks was done after the LAST crisis in 2008; the can was just “kicked down the road” as we now seem to say.
Give us a break. Stuff the EU, the IMF, the USA. Yes, things are going to be bad, but piling ever more debt on top of the vast debts we already have is a SHORT-TERM LUNACY.
The sickening thing is that EVEN with a German bailout guarantee, the problem of Greece etc not being able to cope in the eurozone WILL NOT BE SOLVED. You couldn’t make it up. Don’t you get it, Osborne? The problem will STILL BE THERE.
And underlying everything is the suffocating hand of the EU, with its vast cost and bureaucracy. An EU whose principal concern is NOT for the overall welfare of its citizens (who never get a direct say in ANYTHING) but to pursue its own unmandated policy of creating a European superstate. No, give the British a referendum. Cut the payments.
Get out and tell Geithner to stuff it. You’re taking advice from a man whose country is racking up more debt of four billion per DAY? JEEZ, what idiots are running the western world?