[Sirius]

Originally Posted by Chris

The serious point behind the jest is, history tells us that wringing Germany until the pips squeak in order to redistribute her wealth around the continent - as happened in the form of war reparations agreed at Versailles in 1919 - works only up to a point. Sooner or later the German people realise what's going on and start looking for people who will promise to put a stop to it.

Cypriot savers are being screwed by the EU because German wealth is the only thing that makes any Euro-bail-out plan believable, therefore the plan has to be acceptable to German politicians who want, above everything else, to keep their electors from beginning to think the Euro is a bad idea.

However, IMO they needn't bother, sooner or later reality will dawn and the wheels will well and truly come off. If the Euro fails (and I think it will), it is at least as likely that it will be Germany that leaves, rather than one of the Club Med countries being kicked out.

It must come before the next election. My fear is that if the idiots in Labour or the Libs get outright power they will sign us up for it immediately