Tuesday, February 28, 2012

BBC ignorance in full form

The BBC interviewer on the video/radio report on Greece's default, linked here, amusingly seeks solace in that had Greece not been in the EU irt would have defaulted long ago and at greater cost for the private investors. Happily the moronic half-wit is quickly corrected by the interviewee from Legal & General who points out that the cost to private sector sovereign bond holders is at the high end 73 to 80 per-cent losses of recent international defaults!

The BBC as a long term recipient of funds from the EU, perhaps a cause of its complete and utter bias, need not worry itself about the fate of those who have lent their OWN money to the sickening construct that is the EU - the two organisations are a perfect match in that neither of them have any money of their own, hence their complete economic incompetence and spendthrift ways when it comes to own their employees comforts!



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