Monday, January 16, 2012

Sarkozy heads for Spain

President Sarkozy has been little in evidence since Friday's announcement that the country he has run for the past several years has lost its triple A credit rating. News now comes he is off to Spain, read here.

Why Spain one may wonder? This quote from the linked report for me provides a clue:

Spain -- where on Saturday Rajoy announced an "astronomical" figure of 5.4 million jobless -- now has one of the eurozone's weakest credit ratings, with S&P bumping it from AA minus to A.
"The government I lead knows perfectly well what must be done to improve Spain's reputation and to create growth and jobs and we are going to do it," Rajoy told a rally of his Popular Party on Saturday.

Which is more than the reported comment from the Clueless French EU Commissioner Barnier in Hong Kong, also quoted in the same report as follows:

"Let there be no mistake: this is not a crisis of the euro as a currency," the European Union's internal market commissioner Michel Barnier told delegates to the Asian Financial Forum on Monday in Hong Kong.

"The euro is here to stay. In the last 10 years the euro has proven itself as a true world currency ... And despite the difficulties, it remains strong.

"The real crisis the eurozone faces right now is a crisis of confidence. Our political unity and our determination and our ability to rectify what is wrong ... are being tested," he said.

The latter from the man trying to impose his will on the Cty of London and impose a Tobin Tax across the EU. Frightening it really is!



Anonymous Budgie said...

Martin, the euro is not going to collapse, the EU psychopathis leaders will see to that. I am sorry to say that too many eurosceptics are thinking with their hearts not their heads. I too would like the euro to fail, but it will still be here for some years yet.

10:58 AM  
Blogger Martin said...

Well Budgie, we will have to wait and see, but it will not survive as presently constructed, it will have to give at one end or the other, a buckling in the middle would certainly be too awful to contemplate - like a badly contstructed, fully laden super-tanker breaking its back on a wave perhaps!

8:01 PM  

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