Monday, October 04, 2010

Bruges Group - Stiglitz spots the bloomin' obvious - IMF Depression?

It hardly takes an Economic's Professorship or Nobel Prize to have spotted that the Euro is unlikely to survive. Yet such is the headline to an article from yesterday's Telegraph:

Joseph Stiglitz: the euro may not survive

A quote of such longstanding obviousness must surely beggar belief that it can be quoted in a journal describing itself as a News??paper: Mr Stiglitz said that the different needs of countries with high trade surpluses, particularly Germany, and those running deficits such as Ireland, Portugal and Greece, meant that the single currency was under intense pressure and may not survive. Such has been the case since the introduction of the Euro was first mooted and has been constantly pointed out not least on this blog and its predecessor. This morning, also in the Telegraph, Ambrose Evans-Pritchard also returns to re-re-stating some obvious truths, as he too has persevered down the years (frequently linked from this blog), his headline today goes:

IMF admits that the West is stuck in near depression

The entire article with comments is linked from here. A postin from last Spring with a message of hope we might emerge from the twenty year nightmare is linked here, one of many forlornly posted by this blogger down the years. Yet the Conservative Party, who took us into what has become the EU, ignores this volcano on the verge of eruption right upon our doorstep. Its leadership shouts of austerity yet pours ever more of the nation's dwindling resources to the EU, more today than even five months ago given their MEPs, at London's insistence were compelled to vote for the EEAS. If you are at the Conference of the Conservative Party today, head for the Bruges Group Fringe Meeting this afternoon, details and map are below, although somewhat obscured by my poor text editing. That venue will be the one place where you are likely to hear some true facts in Birmingham this week!



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