Sunday, May 12, 2013

Proof Positive that ECOFIN and G7 are Completely Clueless

Britain's Chancellor of the Exchequer George Osborne (2nd L) speaks, as he sits next to the German Federal Minister of Finance Wolfgang Schauble (L), the Managing Director of the International Monetary fund, Christine Lagarde (2nd R), and Canada's Minister of Finance Jim Flaherty, at the Global Investment Conference 2013 in London May 9, 2013. (Photo: REUTERS)

Picture & caption copied from linked IB Times report also linked below

ECOFIN Chairman and Irish Finance Minister on 12th April ahead of next day's ECOFIN which he chaired, stating Cyprus was stabilised, was not a crisis issue and would merely be mentioned in the normal way.

IBTimes report of this morning, linked here, on the G7 Finance Ministers meeting which opens with the quoted spot on paragraph, proving that when Mr Noonan was making that statement in the video above, Cyprus was in fact facing "near economic meltdown":

Members of the G7 will home in on ways to speed up banking reforms in light of Cyprus' near economic meltdown during today's meeting in Buckinghamshire.

In fact, the measures taken by the EuroGroup Ecofin, it is daily becoming clearer,  will eventually and inevitably mark the end of the West's financial structures.

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