Thursday, February 09, 2012

€300 million pension cuts last sticking point in Greece. Cameron's gluttony!

The farce that is the Greek Bailout 2.0 now only needs Greek pensioners to take huge cuts for the pretence of the second rescue to proceed, read here.

If the release of the €130 Billion then proceeds it will be a large leap towards pensioners in contributing countries eventually having to accept similar cuts, such is the lunacy of the Euro for the Euro Group members.

In the UK and USA the idiocy of their QE was well illustrated yesterday with the example (I first read circulated by Guido Fawkes) of having £100 and 100 loaves each valued at a pound, QE increases the money to £200 and the cost of the loaf thus becomes £2.

But what the heck, the likes of Cameron enjoy the power and perks such as flying off to Stockholm for dinner last evening, while pretending they are doing something constructive to serve their citizens rather than just pandering to their own grotesque appetites!



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