EU Finance Ministers inevitably fail again

In this CRASH large groups of countries are powerless and would be best saving their money by their hapless leaders attending no more pointless meetings. Bloomberg sums up the latest EU farce linked here, from which comes this quote:

The International Monetary Fund said in a report last week that only the U.S., Saudi Arabia, China, Spain and Australia are on track to meet its target of introducing fiscal stimulus equivalent to 2 percent of gross domestic product this year. Germany’s efforts currently amount to 1.5 percent of GDP, which is double what France has passed, according to the IMF.

“The EU doesn’t look like it’s taking big further fiscal measures,” Paul Mortimer-Lee, chief economist at BNP Paribas SA, told Bloomberg Television. “They seem to want to talk about regulation, hitting tax havens, basically shutting the stable door after the horse has bolted.”

The Times reports this morning, link here, that the G20 which our demented PM is pinning all his hopes upon for a cure for all his worsening domestic disasters will now cost Britain 50 million pounds.

The BoE is elsewhere reported to wastefully start printing money shortly, here which the Banking Times declares will hammer Annuity Rates (in which I declare a strong interest as I am just approaching 65 years).

An expert in the Telegraph meanwhile suggests "Sell every asset except Gilts" read here.

In my ongoing effort to not just criticise but to be positive I now propose for the EU:

1. The Czech Presidency considers a deferment of the June European Parliamentary elections as a cost cutting exercise for at least one year (renewable).

2. As a further cost cutting exercises the deferment by one year (renewable) of the appointment of a new EU Commission.

3. The suspension of all other EU activities pending the resumption of economic growth within the EU area.

4. Suspension of all national payments to the EU for the foreseeable future and a halt to collection of "own resources".