Tuesday, July 10, 2012

Vinegar and Brown Paper for Spain!

Nine hours of Euro Group meetings again last night, this time could not even summon up a sticking plaster for Spain, and worse, it would appear, the can they have been kicking down the road seems to have entirely disappeared. The summary of their meeting, from Reuters linked below,  must surely prove that the brick wall that always lay at the end of the road for the euro is now plainly in sight, even for the dimwits who waste their hours sitting in Ecofin meetings rather than leading productive lives!

Enough pathetic analogies, the deep sickness in the heads and actions of Europe's leaders is now fully in view for all their near-bankrupt citizens to clearly see, read Reuters summary of the agreement, from here, and note the following absurdity with which it begins:

"The Eurogroup has today reached a political understanding on the draft memorandum of understanding underlying the financial assistance for the recapitalization of financial institutions for Spain, to be provided via the EFSF until the ESM becomes available and then transferred to the ESM without gaining seniority status."

A political understanding, eh - not even any temporary political agreement any more! Doom indeed!

Footnote - If you are a citizen of Europe and believe my description of you as near-bankrupt is inaccurate look at how you value your worth, think of its connection to the meaningless euro, consider your own past votes in bringing this certain result upon your own country, now decide to do something about it and demand your own national politicians bring it to a halt - nothing in Europe can get better until you do!

Labels: ,


Post a Comment

<< Home