Quote:
Originally Posted by Chris
Meanwhile, an insider at the ECB claims Silvio Berlusconi seriously floated the idea of Italy leaving the Euro in October and November 2011. By the end of that November, he had been toppled from office and substituted with a Eurocrat placeman.
http://blogs.telegraph.co.uk/finance...s-ecb-insider/
It stinks to high heaven.
---------- Post added at 20:19 ---------- Previous post was at 20:12 ----------
The whole thing is held together with a roll of sellotape and a couple of rubber bands. The German elections are on in a couple of weeks, and it could all begin to unravel very quickly afterwards.
Whoever is Chancellor is going to have to tell German taxpayers and savers that they are all on the hook for loan guarantees to Greece and elsewhere. Merkel has been doing her damnedest to avoid spelling this out prior to the election, unsurprisingly, because she agreed to it but doesn't want to suffer the likely electoral consequences. |
Worrying times ahead methinks. There are still those who buy the old guff about the EU and Euro being the saviours of Europe blah, blah,... Well maybe, rather like Brown's end to boom and bust nonsense, all they've done is avoid a series of smaller crises by leading us into a much bigger one, socially and economically.