Wednesday, August 17, 2011

My response to the "Euro madness" blog of John Redwood MP

The posting from the thoughtful analysis by John Redwood of yesterday's events is linked here; My comment, yet to be posted on the comment section of that posting was as follows:

Posted August 17, 2011 at 7:35 am | Permalink

Perhaps the stronger members leaving the euro would be another, possibly more sensible outcome?

Before yesterday’s meeting in Paris President Sarkozy, spent the day with his Prime Minister and their Finance Ministers, considering deeper cuts, I have not seen what decisions, if any, were taken, however, unless spending cuts are realistic (ie huge by British standards) and tax rises severe enough to endanger the coming French re-election campaigns of these gentlemen’s party, then France will very soon be pushed by the markets into the club of weaker members, thereby condemned to remain within the old euro group.

Notwithstanding the foregoing, the body language and obscure terminology surrounding the planned continuing “rapprochement” by the two leaders, led our household to believe that if these two leaders remain in power, their objective has been set as complete fusion, regardless of the desires of their electorates.

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