Economist blog slams Trichet and ECB

Strong words from the EU fanatical Economist Magazine following Trichet's press conference of this afternoon, read here! The post ends with this damning statement:

It will take massive government intervention to stem the crisis, and even if euro-zone governments succeed there is a risk the euro-zone economy will follow its peripheral members into recession. If the euro zone does fall apart, a fitting epitaph might read, "The ECB feared 3% inflation".

EU debate on Radio Four Today

The broadcast that took place at 0810 this morning may be heard again from here.

The introduction from the BBC web site was as follows:

0810
The euro remains a "  credible"   currency despite the debt crisis that has required the bail outs of Ireland and Greece according to the European Central Bank's chief Jean-Claude Trichet. David Rennie, political editor of the Economist and Peter Sutherland, former Irish European Commissioner discuss the crisis of confidence in the eurozone.

The first point I would make is that I am amazed that there remains anybody employed by The Economist magazine who has managed to retain such a coherent view on the reality that is the EU.  Of all the degradations that my country of birth has suffered down recent years the complete trashing of The Economist has probably been the one that has affected me most closely and on a weekly basis.

It will be interesting to see how the Irish handle the situation of people who still think and talk as Peter Sutherland does over the coming years! Sutherland has always been one of the most fanatical of EU Federalists and has wrought untold damage on Europe, it is amazing that he can still trot out such garbage as this.