Chris

Whatever the problem, the EU's solution is always spend, spend, spend ...

http://blogs.telegraph.co.uk/news/da...to-spend-more/

The video clip on that page is well worth watching in full.

---------- Post added at 09:36 ---------- Previous post was at 09:22 ----------

Have a look at this report into the agreement. You could be forgiven for thinking the Grauniad and Torygraph hacks were attending different events.

http://www.telegraph.co.uk/finance/f...or-Greece.html

By the Tele's reckoning, this is not just the nick-of-time solution that the Graun would have you believe it is. Greece has been forced to accept the permanent and significant presence of Euro-Gauleiters in the heart of its finance ministry. It has also been forced to create a ring-fenced bank account that will never contain less than three months' debt repayments.

The power to decide how and where to raise and to spend money is the fundamental benchmark of sovereignty. The EU is no longer gnawing at the edges of national sovereignty by mucking around with common agricultural, fisheries or even foreign policies, it has rammed a stake through the heart of the Greek state by installing itself in that country's economic policy too.

Of course, let's not forget that the current Greek government has agreed to this and bears responsibility for it too. The Greek people certainly won't forget when the elections come round in April and the parliament is stuffed with fringe lunatics from the hard left and the hard right who have promised to chuck the whole austerity thing in the Agaean.