An ostrich's views delivered to the EU Parliament

Joaquin Almunia, is European Commissioner for Economic and Monetary Policy, never heard of him? No doubt that would be because he must spend his days with his head in the sand. Why somebody has yet to kick his butt heaven alone knows. Click here to read some garbage he presented to the EU Parliament yesterday on the ongoing world monetary meltdown. His conclusion: However, events make clear that internal European action is not sufficient to confront global challenges. We need to reinforce common external action in the Financial Stability Forum, Basel Committee and G7, as well as devote more attention to the future role of the IMF. Looking ahead, we need to think about how we can shape the future of our financial systems and global governance. And the role of EU in this regard is vital. In other words the EU is helpless but must nevertheless look ahead! Classic!