Wednesday, July 27, 2011

Cyprus next Euro Group Country for the Knackers Yard?

The PM of Cyprus has asked his entire Cabinet to hand in their resignations. With its power supply station blown up in a munitions dump explosion, see here, billions loaned to Greece, linked here - AND a downgrade by Moody's from A2 to Baa1, things are almost as ghastly as in London, where the citizens of that overcrowded, once upon a time centre of excellence,  have, this evening, been forcibly reminded that it is now only one year before the Olympic Games come to add to their daily misery of movement and increase in taxation!

We must hope that Cyprus is not the key to the extra support for the EFSF when bonds of Italy and Spain start to be purchased in the secondary markets as agreed last week, I guess Belgium will just have to stump up the extra, they may well agree - having no Government!

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