Friday, July 22, 2011

Only the voters of the EU Core countries can now restore democracy to Europe!

Last night's deal on Greece, set the seal on the EU moving to a centrally controlled transfer union, where brute force will eventually be required to enforce financial moderation in those countires not strictly adhering to the Teutonic economic model.

Moral hazard has been ignored, as such will presumably not be tolerated in the centrally controlled, totalitarian state, the countries using the Euro will now be required to become.

The banks and financial markets have appeared to welcome the outcome, presumably as they will, but only at first, be the sole initial beneficiaries. In the long run, they too will rue this day, that was 21st July 2011.

Countries which are not in the Euro Group, will see their re-payments made to the EFSM under the terms of the first Greek Bailout, disappear and lose interest payments for as much as forty years. If Britain's Chancellor of the Exchequer, George Osborne, under the leadership of David Cameron and Nick Clegg, agrees to such losses at a time of severe economic peril for Britain's own economy, their parties too, will deserve a complete crushing, if and whenever another general election is granted. Be warned, in times such as these, with leaders such as ours, that too is now at risk!

Link to Statement on 21/7/11 Meeting Agreements in pdf  format, added 0855 BST



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