Thursday, April 07, 2011

Portuguese Caretaker Government crumbles under EU Coercion

The Government of Portugal, which initially resigned, in order to avoid the humiliation of applying to the EFSF (which event is incidentally estimated to cost Britain £4.4 Billion according to a Daily Telegraph report, linked here, this morning), has now been forced to comply with the formality of requesting assistance from the EU and IMF.

This procedure satisfies the requirements of the autocratic, non-democratic and totalitarian EU, but drives a coach and horses through the constitution of the Portuguese nation state and any remaining pretence that democracy now survives in any corner of the once fully democratic 27 member nation states.

As the Portuguese caretaker government buckled, and did not allow default for  the EU's discredited and ill-investing banks, the EU debt crisis must presumably now roll on towards Spain, with Italy and France on the ever nearer horizon.

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