Events over the past 24 hours have been truly shocking, but predictable. Politicians cannot get their act together and as for Greece.....
We are informed that the Greek bailout is failing; but we knew it would. You cannot have austerity and cuts and expect an economy to grow within the constraint of a hopeless fixed exchange rate.
The poor saps in all this are the citizens. the EU and eurozone are bereft of democratic legitimacy. The riots in Greece (see final link below) are a precursor to more radical civil unrest across Europe. But this time the 'war' will not be between nations but between states and their populations. Alarmist? Over the top? Let's see. The politicians have but a few days to sort his out.
What is interesting is that it is Germany and France who are slugging this out. What about the other eurozone countries? Looks like they are mere by-standers who will have to accept meekly whatever the 'Big Two' decide.
Here in the UK we have leaders of the three major political parties strutting the stage and demanding MPs vote against a motion for a referendum. Weasel words from politicians as they wriggle out of election promises are not acceptable.
http://www.telegraph.co.uk/finance/financialcrisis/8839929/European-debt-crisis-talks-plunged-into-chaos-as-leaders-announce-another-summit.html
http://www.independent.co.uk/news/world/europe/europe-in-disarray-ndash-with-france-and-germany-divided-2373806.html
http://www.spiegel.de/international/europe/0,1518,793074,00.html
http://www.independent.co.uk/news/business/news/new-greek-bailout-cash-comes-with-dire-warning-2373672.html
http://www.telegraph.co.uk/finance/financialcrisis/8839974/Greece-narrowly-passes-austerity-package.html
http://www.independent.co.uk/news/world/europe/greece-crippled-as-its-people-say-no-to-poverty-2373141.html
Update on Greece: 21.10.2011
http://www.telegraph.co.uk/finance/financialcrisis/8842427/Greece-handed-8bn-aid-package-lifeline-but-euro-concerns-remain.html
No comments:
Post a Comment