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NEWS OF THE DAY

13 May

Germany is about to release economic data showing strong growth while Greece sinks further into hopelessness and public disorder.

Most of this is the fault of the EU elite who wanted at all costs as many countries in the euro as possible to give themselves more importance. That’s why they connived in the Greek LIES about its economic data even BEFORE the euro was launched. And as we all know, more importance = higher salaries and expenses …..

… that’s why Ashton earns more than Obama – she is clearly much more important. I mean, who else could have had the immensly-brave and imaginative idea of opening an EU office in Benghazi “to help the Libyans”.

The funny thing is, even NOW nobody is QUITE sure exactly how bad the Greek debt situation is … the word “incalculable” is for once inappropriate.

Do we hear any apology from Brussels  for these lies? Another dose of HA, bloody HA ….

Meanwhile, Germany roars on, powered among other things by sales of expensive and well-engineered motor cars to the Communist dictatorship of China. (Lucky old Germans – they never had a Red Robbo …..) And thank God for nasty Communist dictators, eh! At least they produce enough fat capitalists to be able to afford to buy Germany’s cars so that Germany can be soaked for money to bail out feckless PIIGS. I grew up believing in Europe and now realize I am dependent on China …..

Still, now that Cuba has gone for the Chinese model (capitalism with total political control – you know it makes sense) we can hope that in a few years time Cuban Capitalist-Communists will also be buying Mercedes and Porsches …..

The IMF is never far away ……I’m waiting for the next President of France, Dominique Strauss-Khaan’t (lucky old France, I say!!), to blame Germany again for “exporting too much”.

Indeed, Mr Khaan’t – you’d clearly be happier if Germany were as poor and hopeless as all the rest of the overburdened, overtaxed, over-controlled and non-exporting dominions of Brussels. Naughty Germans. And Herr Claude Crassworthy  Juncker (Greece? Secret meetings? More dosh? Default? Restructuring? Not us Guv …) will soon be demanding more of my taxes to pay for all the debt as well as his ludicrous salary and expenses.

Oh, I must check on how the new 300,000,000€ palace for our magnificent President of Europe is coming on. Mr Rompostiltskin must be impatient to move in and do his presiding in the style to which he thinks our taxes entitle him.

EU NEWS? They want to piss about regulating cookies; apparently in the belief that we don’t already know how to deal with them.

And are any of you lot over 60? HA, HA!!!! You’ll soon have to take a driving test every year to make sure you are still safe …..  ….THANK YOU EU – how the hell did we defeat Hitler without your help? Why don’t you all take a BRAIN test once you get over 60 just to make sure YOU are safe?

Have a good day ..

PS Doesn’t Cleggo look glum in all the pics with Cameron? Oh dear …. Mind you, I must admit I didn’t think he would be able to hang on, given the worst electoral performance of his party in history. Still, accepting responsibility and resigning isn’t very PC these days …

PPS Have you got any idea how serious and shameful this is? People bang on about bankers, but THE FAULT LIES IN BRUSSELS.

The reason why the EU is set on this frankly lunatic course is terrifying. The sad truth is that most European banks, including the ECB, are now technically bankrupt. The only way they can stay afloat is by lying about the state of their accounts. So long as Greece, Portugal and Ireland are theoretically solvent, their debt can be marked at par on the banks’ balance sheets. The moment that they acknowledge reality by rescheduling their debt (going bankrupt, in ordinary discourse), the ECB and the rest will be forced into large write‑offs and provisions.

The situation is so serious that one executive board member of the ECB, Jürgen Stark, has warned that Greek debt restructuring could cause a financial disaster that would put the devastation that followed the collapse of Lehman Brothers in 2008 “in the shade”.

So, be prepared for billions more UK money to be sunk into propping up this insanity – MORE than all the “cuts” combined ……

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Posted by on May 13, 2011 in European Union

 

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