Wednesday, June 27, 2012

Communist President of Bankrupt Cyprus to Assume EU Presidency

The headline to this post is true. Even this blogger could not have made that up!

Read the whole horror story from the Sydney Morning Herald, linked here.

Surely even the most died in the wool EU federalist fanatic or corrupt apparatchic who has been raking in the benefits for years must now realise that the  horror story the EU has become, MUST be brought to a close before this weekend, when to quote the Australian newspaper just published the following id due to occur:

When Cyprus takes over the EU's rotating presidency on Sunday, it will have one qualification that could help endear it to the crisis-weary bloc and its 495 million citizens: it, too, is nearly broke.

The country was forced on Monday to request a bailout for its ailing banking sector from the group of nations it is supposed to lead. Economists estimate Cyprus needs as much as $12.5 billion to shore up its public sector and banks.

Only hours before, its communist President, Demetris Christofias, had attacked the EU, saying the European Commission, the European Central Bank and the International Monetary Fund had operated like a ''colonial force''.

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